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When looking for a new job, salary is one of the main components that could determine whether the position would be a good fit. But what happens when you land a dream role that pays below your desired range? Before accepting an offer, keep these tips in mind.
Some keys to effective salary negotiations
When negotiating salaries, it's essential to be clear about why you've chosen a specific salary range. There are many aspects of a job to consider, such as industry trends, benefits, market comps and the value brought by hiring you. You further justify what you think you deserve by explaining why you are requesting a salary that is right for your experience and seniority level. Show confidence in your work and what you bring to the table.
Prepare for additional questions. There may be further inquiries about your experience, education or specific projects in which you've participated. While some questions may seem daunting at first, remember the intent of why they're asking. This is key to understanding their point of view regarding raising wages. Having available answers or more examples to expand upon will help your case. This will also allow for some back-and-forth communication to show cooperation and understanding.
How to ask for a higher salary
Here's an example of a salary negotiation email:
"Thank you for sending me an offer for [X job position]. I am looking forward to joining the team.
Before moving forward, I would like to discuss your proposed compensation package. I am fully prepared to give my commitment to [X job position]. However, given the job demands and workload, I would like to explore a salary range of [$X-$X]. I have based this request on my research and conversations with industry professionals. Given my experience and qualifications, I feel this amount would be more appropriate.
I feel confident in the value I add to [X company] and am excited for the adventure ahead."
Answering questions about salary history
There are a few options for answering this question, depending on when it comes up. One way is by reframing the money value with your work value. Rather than just handing over your salary history, discuss what value you've brought to former employers. By reframing a question like this, you can show what you and your work are worth. This allows you to demonstrate what you're excited to do in a new role.
Another way to answer this question is by giving the range you are seeking moving forward. By pivoting this question, you can share what you feel is essential. However, if this question is required, share both: what you have had as a previous salary and what you hope to make in the future, as your portfolio and experience have grown. This gives full transparency to the hiring manager during the interview process.
Trevor Bogan is the regional director of the Top Employers Institute in North America. With more than 20 years of experience in talent acquisition, he delivers world-class insight across industries such as banking, financial services, staffing and recruiting.