Hey Recruiter? Are You Being Offered What You’re Worth?
We’ve written previously about how the latest Recruitment Index figures from Deloitte and APSCo indicate that the recruitment industry is in good health. But with many firms looking to expand, 59% of them are still expecting challenges in being able to grow their headcount due to the competition for talent.
In terms of salaries, this should be good news for candidates.
If you’re looking to progress your career this year and hope to secure the right job for you, don’t just accept the salary offered without carefully considering what you think you are actually worth. Negotiate for more if you feel you need to.
Here are four key areas to focus on when negotiating your starting salary in your new job.
Know your personal financial situation
Knowing exactly how much you need to live on and how much you want to be able to save is vital when negotiating your salary. This is because you may be offered other forms of compensation. This could include shares, bonuses, training, life and disability insurance. You can often negotiate an overall package that is worth more than the company’s original offer by sacrificing immediate gain (cash) for these benefits in kind.
Know what the salary range is
Many companies post their salary range within their job description, but if not, if you’re using a specialist Rec2Rec recruiter, they will be able to tell you their salary range, and what you can realistically hope to achieve in your negotiations. If you think their salary offer is too low on their scale, it’s easier to discuss if you’re aware of the boundaries.
Ask at the right time
Wait until you have a definite offer of the role with full details of remuneration before attempting to negotiate the finer details of your salary. Throughout the process make sure you SELL YOUR VALUE, this makes it easier for your hiring manager to then justify, in his or her mind, what they are willing to pay you.
Doing so any time before is presumptuous and without having a definite salary offer on the table, you may even negotiate yourself a lower salary than you were due to be offered.
How confident are you in your own abilities?
As recruitment remuneration is based on a combination of salary and commission, you can often negotiate an attractive package if you are confident in your own abilities as a recruiter. Offering to take a drop in salary in return for a more lucrative commission structure is a ‘win-win’ situation for you and your new employer. Your earning capacity is increased considerably, and your employer benefits too as you now have even more reason to smash your targets.
Don’t be flattered by any job offer and assume the salary is what you’re worth. Do your research and exploit the growing competition for talent and push for a package that you think truly reflects your skills and experience.
Till next time,
Cheryl