Find out how to get paid what you’re really worth and secure the best possible deal from your new employer…
Changing jobs is the ideal opportunity to increase your salary but before you start negotiating there are a few things to consider.
Timing
You don’t want to appear too ‘money hungry’ and raise the salary issue in the first meeting with a potential employer. Ideally, you want to see what the company is willing to pay before you say what you are willing to accept. You have the most bargaining power after you have been offered a job but before you have accepted it.
Know your market worth
Find out the current salary range for the position you’ve applied for. Salary surveys are a good source of information on the average salaries for particular roles. For example, the Michael Page Salary Survey (visit www.michaelpage.com.au/salary-centre.html) is released once a year and incorporates feedback from employers and candidates on salary expectations for the year ahead. Your Michael Page recruitment consultant can also provide you with information on salaries in your industry.
Be realistic
Give a broad indication at the top of the range that has been indicated or discussed for the role and say that your decision would ultimately be based on comparing your options. But be careful that you don’t sell yourself short.
As with any negotiation, the aim is to find common ground. But don't forget that when a job is at stake the employer ultimately has the upper hand. If you play hardball and are unwilling to compromise, it may cost you the position. Even in a tight job market or when looking to fill a specialist role, the employer is likely to have several candidates on the short list.
Accepting an offer
Once you accept a job, check the offer carefully to ensure you understand how the salary package is structured. For example, is it base salary plus super? Does it include any other benefits like a mobile phone, car allowance or laptop?
If you accept a job you really like but the salary package is not quite what you’re after, then it’s a good idea to negotiate a pay review date for three to six months after you start to give you time to prove yourself to your new employer.
Your Michael Page consultant will help ensure you get the best possible salary package for your skills and experience.
