For many jobseekers, one of the most intimidating parts of the interview process is negotiating salary. Most people know how to negotiate their next salary rise when they are in a job and can prove the value they are adding to an organization, but they are not so sure about negotiating during the recruitment process.
Candidates may not be clear on who this conversation will be with, when exactly they will need to have this conversation and how much money should they ask for, and how should they negotiate this figure if needs be.
“The issue of salary is usually raised towards the end of your second interview if you are the preferred candidate – this is your ideal time to negotiate. By preparing properly and getting timing right, candidates can step into these negotiations confident of success,” says Simon, Managing Director, Hays Greater China.
To help candidates confidently ask for the salary they want and deserve, Hays has shared the following advice:
Search and determine personal advantages and priorities
With thinking about desired job title, location, industry, company size, skills and level of experience, ensure your salary expectations are in line with current market rates. You can use the Hays Salary Guide as a tool to ensure your expectations are realistic. Knowledge is power when it comes to difficult negotiations.
Next, take key criteria into consideration for next role, such as flexible working, bonus schemes, training courses, corporate culture and so forth. Some organizations may not have the resource to pay you your desired salary, particularly if they are a start-up or a not-for-profit, but they could meet your other career needs in terms of progression opportunities or work-life balance.
Express interests during interview
Tell the hiring manager or your recruiter that you are very interested in the position, but that you would like to discuss the salary. Declaring interest before starting to talk figures makes it clear to the interviewer that high salary is not the only benefit candidates are chasing.
Be honest with hiring manager
Discuss openly and professionally how much they think you are worth and be prepared to justify your estimates with examples of personal expertise and previous successes, as well as the market rate for position that researched earlier.
Work with your recruiter
Speak to your recruiter and listen to their advice. Recruiter knows the market rate for your role and level of experience and can help you to evaluate salary expectations to ensure they are not asking for too little or too much and keep information confidential. Your recruiter can also negotiate on your behalf without the risk of jeopardizing your offer.
Have patience with salary approval
Don’t make your salary pitch too early, instead wait until you know you are the preferred candidate. You also should not expect an immediate response. The hiring manager will need to gain approval from their manager for any revision to an offer.