The key to negotiating your salary is gathering as much information as possible before negotiations begin. Understanding a company's situation and your own value in the marketplace can help you to receive your desired salary.
Below, we outline our top tips to help you with your salary negotiations.
It is important to understand how the company you are interviewing with is performing. Have they posted record profits for the previous year, or is their financial performance below their targets? Have they made many redundancies in the past 12 months? All of these factors will have an effect on whether the organisation is going to pay above/below or the market rate salary for a role.
Benchmark your salary against the Robert Walters Salary Survey in your sector.
Find out how much employees carrying out similar roles are paid. The key is to demonstrate your views with good examples of similar jobs both inside and outside the firm.
Try not to be lured into a false sense of satisfaction by the top-line salary figure. Make sure you do your salary sums because you may have increased costs in your new job.
Is there a shortage of candidates with your skill set in the industry you work in? Have general salaries been rising or falling within the sector? Is there a high number of roles appropriate to your skill set available in the sector? It is important you know the answers to all of these questions so that you understand what level of salary you are able to request and what is realistic.
Try not to be lured into a false sense of satisfaction by the top-line salary figure. Make sure you do your salary sums because you may have increased costs in your new job. For example, you may need to travel further to reach your new office or workplace and you might lose out on other benefits too. Of course, the reverse can also be true.
Your new salary may not be as high as you'd like but there could be other advantages; a company car, free health insurance, gym membership or other perks. Never forget, however, that this is the wage you're going to be living on. So the greater actual salary you earn the greater your financial security.
Ace your video interview
Web-based interviews are on the rise, making it more important than ever for candidates to be able to interview comfortably over the web. As more multinationals move their Asia operations into Indonesia, we have seen an increase in professionals with a regional portfolio requiring direct reports inRead More
How to market yourself
Today’s business climate is more competitive than ever, and there are as many people out there jostling each other for the best job in town. Companies are always on the lookout for talents and high calibre professionals, and would be willing to pay a premium to recruit such candidates. How then canRead More
6 questions to ask during interviews
An interview is a two-way street. It’s your chance to establish whether joining a particular company will benefit your career and ultimately, whether there is a suitable fit between the two. “All candidates should be able to show employers that they have thought about the role beyond what may have bRead More
Come join our global team of creative thinkers, problem solvers and game changers. We offer accelerated career progression, a dynamic culture and expert training.