Here's how you can secure a higher starting salary as a recent graduate in financial services.

1 Know Your Worth

Understanding your value in the financial services market is crucial when negotiating your starting salary. Research the typical salary range for your role in your geographical area, taking into account the size and type of company you're aiming for. This information will serve as a benchmark during negotiations. Articulate clearly how your unique skills, internships, certifications, and academic achievements align with the demands of the position and how they will benefit your potential employer. Confidence in your worth is compelling in salary discussions.

2 Enhance Skills

In a field as dynamic as financial services, continuing education and skill enhancement can set you apart. Prior to entering the job market, consider obtaining certifications like the Chartered Financial Analyst (CFA) or Certified Financial Planner (CFP) if they're relevant to your desired role. Showcasing a commitment to professional development can justify a higher starting salary. Additionally, proficiency in financial modeling, data analysis, or advanced Excel skills can make a strong case for increased compensation.

3 Network Effectively

Networking is a powerful tool in the financial services industry. Attend industry events, join professional associations, and connect with alumni from your university who are working in the field. Building a strong professional network can provide you with mentors who can offer advice on salary negotiation and may also lead to job opportunities that offer higher pay. Your connections can give you insider knowledge on what companies are looking for and what they are willing to pay.

4 Tailor Your Pitch

When it's time to discuss salary, tailor your pitch to the employer's needs. Demonstrate how your skills and experiences directly solve problems or add value to their team. Use specific examples from past internships or projects that highlight your contributions and results. This approach shifts the conversation from what you want to earn to what you can offer, making it easier for employers to see the justification for a higher salary.

5 Practice Negotiation

Negotiation is a skill that improves with practice. Role-play salary discussions with friends or mentors, focusing on maintaining a calm and professional demeanor. Practice makes you more comfortable with the back-and-forth of negotiation and helps you refine your talking points. Remember, it's not just about the salary figure; be prepared to negotiate other forms of compensation like bonuses, benefits, or professional development opportunities.

6 Timing Matters

Timing can be everything in salary negotiations. If possible, wait for the employer to bring up the topic of salary. This gives you the advantage of knowing their starting offer before stating your expectations. If they offer a figure first, you have the opportunity to counter with a higher number based on your research and the value you bring to the table. Be patient and avoid rushing the discussion, as this can lead to settling for less than you deserve.

7 Here’s what else to consider

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