What are the common mistakes to avoid when negotiating your graduate scheme salary?

1 Do your research

Before you enter any salary discussion, you need to have a clear idea of what the market rate is for your role, industry and location. You can use online tools, such as Glassdoor, PayScale or Indeed, to find out the average salary range for similar graduate schemes, and adjust it according to your skills, experience and qualifications. You should also consider the benefits, perks and bonuses that are offered by different employers, and how they affect the overall value of the offer.

2 Know your worth

Once you have done your research, you need to determine your target salary and your minimum acceptable salary. Your target salary is the amount that you would ideally like to receive, based on your market value and your expectations. Your minimum acceptable salary is the lowest amount that you would be willing to accept, without feeling undervalued or resentful. Having these figures in mind will help you set realistic and reasonable goals, and avoid settling for less than you deserve.

3 Be confident and respectful

When you are negotiating your graduate scheme salary, you need to convey confidence and respect, both for yourself and for the employer. You should avoid being too timid or too aggressive, as both can damage your relationship and your reputation. Instead, you should adopt a positive and professional tone, and use assertive but polite language. You should also highlight your achievements, skills and potential, and explain how you can add value to the organisation. By doing so, you will show that you are not just asking for more money, but that you are worth more money.

4 Don't reveal your salary expectations too soon

One of the common mistakes that graduates make is revealing their salary expectations too soon, either in their application, during the interview, or before receiving an offer. This can put you at a disadvantage, as you may either undersell yourself or price yourself out of the market. Instead, you should try to delay the salary discussion until you have a clear indication of the employer's interest and intention to hire you. You can do this by deflecting the question, saying that you are flexible, or asking for more information about the role and the responsibilities.

5 Don't accept the first offer

Another common mistake that graduates make is accepting the first offer that they receive, without trying to negotiate or ask for more. This can leave you feeling dissatisfied, underpaid and undervalued, and also signal to the employer that you are not confident or ambitious. Instead, you should always try to negotiate or counteroffer, unless the offer is already above your target salary and meets your expectations. You can do this by expressing your enthusiasm and appreciation, but also stating your reasons and evidence for asking for more.

6 Don't forget the big picture

The final tip to avoid making mistakes when negotiating your graduate scheme salary is to remember the big picture. Salary is not the only factor that matters when choosing a graduate scheme, and sometimes it may not be the most important one. You should also consider other aspects of the offer, such as the culture, the opportunities, the training, the feedback, the work-life balance and the career progression. You should also think about your long-term goals and aspirations, and how the graduate scheme can help you achieve them. By doing so, you will be able to make an informed and balanced decision that suits your needs and preferences.