Many college graduates and experienced workers will use the professional services of finance recruiters to assist with the job hunt, but using finance and accounting recruitment agencies to obtain a job offer is only a first step in the process. After you have received a great job offer comes the important task of negotiating your salary. In many cases, the initial salary that you are offered is not the highest level that the company is willing to go. The last thing you want is to start a job at a lower salary rate than what you could actually be making. Through these tips, you can maximize your income potential in finances jobs.
1. Avoid Stating Your Salary Requirement in the Interview
It is common for hiring managers to ask about your salary expectations during the interview. When you state a firm figure, however, you are automatically impeding your ability to negotiate your salary requirement later on. It is better to state that you are willing to accept a reasonable offer rather than to state a firm figure. Once you receive a job offer, you can negotiate a reasonable salary that you are both comfortable with.
2. Research a Realistic Salary Online
While many salary offers are negotiable, some companies that are truly interested in finding and retaining top talent will make a great offer up-front. With this in mind, it is best to research a realistic salary offer online as a first step. Consider factors like your educational background, your work experience in the field, your location and the job requirements as you conduct research. You likely will be able to determine through this effort is the salary that you were offered is reasonable or how high you think you can realistically go through the negotiations process.
3. Indicate the Benefits You Bring to the Table
When you do approach your hiring manager for salary negotiations, avoid simply stating the face value that you believe you are worth. Instead, state the amount you are asking for, and go a step above and beyond to indicate why you are worth this amount. You may state that this is the average income for someone in this field with your qualifications. Perhaps you may state that your efforts will save the company a certain amount of money each year. Focus on your true value when determining how you will approach the hiring manager to negotiate salary.
Finance recruiters are a great resource to use as well. Before you reach out to a hiring manager to negotiate salary, discuss your plans and reasons for the negotiation in detail with your recruiter. Your recruiter can tell you if your offer is reasonable and may give you strategic advice to improve your negotiation tactics. You can learn more at The Mason Group, which has additional information and resources available.