Getting the best deal on salary
You have applied for a job, endured the interview and then you hear the phrase ‘Congratulations you’ve got the job ‘… Excellent if you feel its the right job for you… So far so good. If it was an advertised vacancy the salary details will be published and should now be adhered to and relatively easy to agree. But what should you do if there is a salary range or you applied to the company speculatively so no salary was discussed before the interview ?
You could now be asked what kind of salary you are looking for.
Gulp…time to think and start getting ready to use those negotiating skills. First a thoughtful pause and time to reflect …the word ‘Salary’ actually derives from the French salarie from the Latin salarium (salary, stipend, originally soldier’s allowance for the purchase of salt) from sal (salt), which comes from the Greek als (salt; Gr: άλς).
But we assume you don’t wish to be paid in salt so what can you do? Too high a level and you might feel you risk being laughed at ? Too low and you risk losing out.
Think what you have to offer. If you have a 1st or 2.1 degree and have done a 12 month industrial placement you could try the mid-higher end. If though you are a bit lacking in work experience and relevant skills then perhaps the lower – mid end. But don’t sell yourself too short. Never start at the bottom, give yourself some room to manoeuvre.
Look around at similar jobs in the field and work out what they are offering. What looks like a reasonable deal compared to other roles?
Budget …Have you worked out the minimum amount you need to live on ? At the beginning of your career you may need to put up with a lower salary but don’t go so low you can’t afford to live. One caveat might be …’unless its a fantastic experience and it won’t be for long perhaps? ‘ but that is an individual choice and also in this consider your health and well being.
Is the job in London or the South East, in which case expenses are higher ?
Where will you live and how much will a typical rent be?
Will there be travelling expenses and how much will they cost? Commuting by train or car and any parking costs can soon mount up.
So get a figure in mind and then talk to them. Also be in mind what else they are offering? A company car, health insurance, gym membership? Are these potentially of value to you?
How much will you need to pay back of your Student Loan each month, assuming you will earn enough to start having to pay it back?
There is some information on salaries on the Job Profiles section of the Prospects Website . Click on an individual profile and salary is one of the sections. The information is fairly current as the profiles are updated regularly.
Finally if you are this position and would like to talk it through with someone then come along to the Careers Centre and we can help you look at this and consider how best to negotiate a good deal for yourself. There is also lots more on looking for a job and issues regarding employment if you follow the link below.