Experienced professionals from the Mackenzie Jones Middle East Recruitment team agree that the best foundation for salary negotiations is the determination of one’s worth as an employee or executive. You can only push for a better compensation package when you have a better idea of your worth, a simple yet crucial idea for job applicants.
Determining Your Worth
This is not a simple matter of choosing a salary range based on the job you are applying for. Instead, you have to consider several factors including:
- What you already have in terms of education, training, and work experience;
- What you can offer the company in terms of knowledge, skills and connections; and
- What salary range you believe the job is worth.
Keep in mind that you may believe that you are worth less because of your knowledge and skills in comparison with others. You will be surprised, however, that research has shown that most people value themselves less than what they should be for fear of being seen as too confident, too arrogant, or too expensive, thus, being bypassed for the job.
- Do your research about the salary range for your level of education, training and work experience as well as the positions you are applying for
- Consider the above mentioned factors in relation to the industry salary range to determine your worth in pounds
You should then be able to arrive at an amount that reflects your personal opinion of your worth as an employee for jobs commensurate to your qualifications.
Negotiating for Salary
Now that you have a clear idea of your worth, you can start negotiating for your salary package and getting an amount equal to or higher than your expectations or at least, as near to your expectations as possible. Obviously, your prospective employer will likely ask about your expected salary so be sure to answer as honestly as possible.
Here are tips that will make you a better negotiator for your salary package.
- Start the negotiation by stating a salary at the top end of the spectrum. You can also quote a salary 10-20% of the standard industry average so that you have room for negotiation. You should avoid adding on more than 25%, much less 100%, since you can lose a potential employer.
- Establish trust, integrity and credibility early on. You are more likely to be hired when the employer sees you as a person who can be trusted with the job.
- Avoid asking the employer to explain his low ball offer; you will first be offered it to counter your high ball expectations. Instead, be respectful about the offer but give your own reasons for asking for a better salary package. This is where your research will come in especially about the industry standard salary packages for the job, your qualifications, and your capabilities that can be used by the company for its benefit.
All throughout the negotiation process, be sure to be respectful, courteous and professional. You should push your worth in non-monetary terms, too.