How to negotiate your worth in 4 steps
Capio Recruitment
We match innovative businesses with skilled people across three core sectors: Insurance, Legal, and Wealth Management
The advice to "know your worth" is universal, but what does it really mean and how can you use it correctly? Salary transparency has become a necessity in today's world. There is an increase in companies posting salaries in their job advertisements and salaries are more frequently discussed. How do you know what to ask for? How do you determine your "worth"?
Salaries for the same job will vary across different organisations in the same sector. It’s good practice to make yourself aware of what other people in similar positions to you are being paid as a benchmark. Glassdoor and salary surveys are great sources of information.
How to negotiate your worth and fast-track your career in 4 simple steps
How much does it cost you to sustain yourself for a year? It is important to know what your minimum threshold is. When you move jobs, you don't always want to earn more money. However, you should make sure your new wage meets your needs.
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2. Keep track of your success
If a new employer is hesitant to offer you what you ask for, prove them wrong. Show your new employers your performance and tangible results in order for them to understand what you can offer. You must be able to quantify your contributions and explain your career statistics to them.
3. Improve your negotiation skills
Preparation is the first step to negotiating successfully. Understand the situation completely. Have a clear sense of what’s at stake and run through all possible scenarios. Don’t just think about what the other party can offer you—think about what you can offer the other party. How can you be sure they benefit from your desired outcome as well??
4. Take advantage of your recruiter
Most recruiters will be able to at least give you a range and negotiation tips. You need to be paid based on where the new organisation values this role, not your current one. Don’t feel pressured to discuss your current salary. As recruiters, we are more than happy to give you some direction and specialist tips.
Good comments. I would suggest researching the people in the company that a) will be interviewing you, and b) might be people in the dep't/team that you will work with (and possibly mentor if you are senior/experienced). Also maybe look at their financial records if available, and if not maybe enquire gently as to how the potential employer' results have been. Just my humble opinion. Regards all, Darren