How to Negotiate to your way to a better Salary
2018 was the year we saw workers receiving the biggest pay rise in a decade of a 3.3% jump in weekly earnings. Yet the working day is becoming longer and office-based stress is on the rise (52% of us experienced it last year), increased financial renumeration is essential. We’re not saying that a pay rise negates overly long hours spent at your desk or being trapped in a cycle of stress, but greater responsibility at work should always translate to a larger package.
But, did this 3.3% increase completely pass you by? Or, if you managed to secure a salary increase last year, how can you ensure the same outcome in 2019?
Do Your Research
Make like Hermione Granger and hit the library! Typically, any discussions around salary or promotions will take place in an annual development meeting with your line manager. This meeting could determine your role and renumeration for the next year, so bringing you’re A Game is essential. Here’s what we recommend you prepare:
- Your achievements and strengths; be very specific here, utilising individual events or case studies which have shown you in your best light, plus any statistics to back them up (from values of projects you’ve managed to percentage increase of company revenue).
- Where you would like to progress to before your development meeting in the next year? Think of titles, positions, direct reports etc.
- Market research; start browsing other job opportunities, but from the perspective of matching your role and responsibilities to the job descriptions. What sort of package does your role equivalent have at another company have?
“Negotiating salary is a huge topic so it is crucial for people to know their value within the industry and in the geographical area. Do your research get your number and make sure you’re not at the mercy of an experienced hiring manager.” Arnold Bokumbe, Senior Consultant, Design & Technical
In The Room
This is a two-way meeting. We say this because a common mistake in development meetings is to presume this is purely for your employer. Our best tip is to remain as analytical and calm as possible, almost to ‘step outside of yourself’ and consider yourself as your employer would. Be confident and assertive. This can be difficult when discussing money; for example, research has revealed that Brits find money harder to talk about than sex and relationships. But approaching this ‘scientifically’ rather than emotively could help you with this.
Understand Your Leverage
Off the back of your research, mentioned above, you will have gained a better understanding of where your skills and expertise lie in the greater marketplace. In other words, how much of an asset you are to the business and how irreplaceable you are; this is your leverage. Although we don’t suggest you come right out with ‘you’ll never find someone like me’, knowing your self-worth, and what you could have elsewhere, is important to hold in your mind in that meeting room.
Present A Singular Number
All of us will inevitably enter that meeting with a number in our head, but don’t use a salary range.
“You should never use the word ‘between’ when negotiating as the person you’re negotiating with will almost always jump to the smallest number!” Robert Morgan, Residential, Consultant
Not sure of what salary to suggest? Blayze Group are constantly in touch with the market – make use of our industry knowledge today.
Our Final Tip
Remember, salary is not the only part of a package and therefore not the only item up for negotiation. What would make you happier and, essentially, more productive at your current company? Perhaps you want more holiday, a selection of home-working days, travel allowance or more time dedicated to training? Also, bear in mind the softer aspects of working life – would you like more support from your manager or a peer mentor?
As a transparent and expert recruitment partner, Blayze Group can advise you on your next steps. Whether it’s providing an industry analysis to learn your market rate or suggesting an onward strategy to boost your career, get in touch with us today.