Negotiating a salary can be a daunting prospect and doesn’t come easily to a lot of people, so that’s a huge benefit of being put forward by a recruitment agency - it’s our job to do it on your behalf!
When you're weighing up whether a job move is the right thing for you, you may find yourself questioning a number of things about it - the remuneration package being high up on the list for most people. What's important to remember in this process is that it's best to try to take a holistic view of any new opportunity. Money is important but it may not be everything when you're weighing up the impact of a move on your long-term career prospects.
Salary negotiation process
I’m a huge believer in playing with a straight bat. There is nothing worse than getting to the end of a recruitment process with salary expectations misaligned, so we will always discuss your current salary and salary expectations on our first call. If your expectations are aligned with what my client can pay, then great. Similarly, I will make my client absolutely aware of your expectations before any interview process begins, so no one’s time is wasted.
If you’re lucky enough to be made an offer then this is the time that I will negotiate your salary on your behalf. Normally, you and I will discuss this on the phone prior to any client call (I usually get a heads-up from my clients that an offer is on its way) so that we are 100% aligned. Most of my clients don’t really mess around - providing we’ve been clear about your expectations during the process then most offers aren’t wildly different to what you're anticipating.
What sort of salary uplift should I expect?
Typically you should expect between 10 - 20% uplift in base salary but I would always suggest a level of flexibility as money isn’t everything for everyone.
I always think it’s not worth losing an opportunity for a few thousand pounds - after tax it’s pretty much negligible. Being too dog-headed can also tarnish your image with the company you want to work for and even if you are successful in getting that big increase it won’t put you in the best light from day one.
Sideways moves
Should you take a financial sideways move? Absolutely, if it means getting your foot in the door with a company you really want to work for or securing the type of role that you’ve been wanting for ages, then why not! You may get the same pay, or even slightly less, but you'll have to take a view on what this move means for your career and financial prospects in the longer term.
Big vs small - who pays the best?
I’m actually constantly kept on my feet with this one. I’ve come across small businesses that pay way over the market rate and have more flexibility to do this as they’re not bound by corporate salary bandings. Then I’ve come across small / young businesses that pay a fair bit less but can offer other benefits that bigger companies don’t such as some form of equity in the business (especially for young businesses), a less corporate company culture which you might prefer, access to senior stakeholders that you wouldn’t necessarily get in a big business, more autonomy to make decisions and a better chance to make an impact.
Does the sector make a difference?
Yes, some do pay more than others.
> The Financial Services sector pays more than industry, but you’ll find the working hours a lot longer and the culture often more ruthless.
> FMCG pays pretty well on the whole, certainly on a par with most other sectors.
> Oil, Gas & Mining pays a bit over the market rate, as does Tobacco.
It’s also worth considering that if a company feels the need to pay over the market rate then there’s normally a good reason for that.
Ultimately you have the final say with what salary you're willing to accept, all I can do is offer some guidance. In my experience, the more open-minded and pragmatic you are, the better it will come across with the company you’re interested in working for.
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