The Wage Shop

Whether you’re preparing for your end of year appraisal or looking for a new challenge, discussing and negotiating your salary and benefits package can be an uncomfortable business. You may feel you come across as pushy or over confident so it’s important to strike the right balance between this and getting what you think you deserve. With this in mind, we’ve looked at the best tips for salary negotiation, whether it’s your current employer or a new role you’ve been offered.

  • Don’t say ‘Yes’ straight away. It can be tempting when it’s the job of your dreams, but don’t be so quick to agree to the first number being offered to you. Ask if you can have some time to think about the offer so you can sit down and look at the package as a whole and see if you think it’s fair. After you’ve made your decision, you can go back to the employer with your counter offer with solid reasoning why you feel it’s appropriate. On the other hand, don’t think saying no straight away will magic up a higher offer. If it’s the job you want or need, don’t miss out on the opportunity to take it. You can always agree to renegotiate your package in 6 to 12 months’ time when you’re more established and have proven your worth. If you’re negotiating with your current employer, it can be more difficult. You might be more aware of the budget constraints on the department, or you might be aware one of your colleagues secured a similar deal. Don’t tell your employer you deserve a raise because someone else got one, you need to show why you are worth the money you are asking for.
  • Don’t be the first to share your number. Unless you are expressly asked by the employer to share your expected salary, don’t share your number first. Be patient and wait for the employer to share their thoughts first. That way you can gauge what they value your experience and skills at and have a starting point for your negotiations.
  • Keep emotion out of it. This can be especially difficult whether you’re negotiating for your dream job or working through a deal with your current employer. But things really will go more smoothly if you leave emotion out of the negotiation. It can be a stressful discussion, especially if you are not confident with this kind of thing but coming across as emotional won’t help your case. It also might cause you to jump to an agreement you later regret. Ask a friend or partner to run through possible discussion points with you like you would do for an interview, that way you will feel more prepared for the discussion and less likely to react emotionally.
  • Remember the whole package. Your salary negotiation shouldn’t just be about the numbers. What else does the employer offer as part of the overall benefits package? Think about the other things on offer like employee perks – these always sound like a great thing, but they are only useful if it’s something you’re likely to use. What about paid pension contributions, paid sick leave, annual leave days and the ability to work from home or flexible working? It could be a great salary with no flexibility, so you need to assess the additional perks of working there as well as the number on the payslip each month. Where you’re already working for your employer and trying to negotiate your salary, your employer might be offering some of these additional perks where they can’t meet the money you are asking for. It’s worth considering all these points before making your final decision.
  • Find the balance. Sometimes you might need to find the middle ground between what you are asking for and what the company can offer. For example, you’re not going to get the same salary in London as you would in other parts of the country, so do a little research and see where your company fits on the list. If you’re asking your small, family run business for the same salary package offered by a multinational corporation, you might need to rethink your negotiation tools. Be reasonable about what they can offer you against what you want. This can help you discuss a reasonable counter offer with them, and you are more likely to find the number you can both agree on.

So, what’s this got to do with The Wage Shop?

Our great advice is just part of your simple, flexible service. With The Wage Shop, we make sure you’re paid on time and take care of your Tax and National Insurance contributions, leaving you to focus on your day to day workload.

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