Let’s face it, who actually enjoys talking about money? Whether you are in the process for a new job or going for a pay-rise in your current role, talking salaries can fill us with anxiety, generally make us feel pretty uncomfortable and just fill us with fear!
But do we have to feel like this or is there a way to be more confident and in control when talking about salaries? In this two-part blog we will uncover how you can feel much more positive going into these conversations and walk away with the best possible outcome all round.
The first part of the series will focus on how to tackle talking all things salary related within an interview question or at the point of being offered a new role.
The Interview:
When the question about salary comes up, you need to think of this question as if it were any other. So, what do you need to answer a question well? How would you structure your answer to these questions:
“Why are you suited for this role?”
OR
“What interests you about our company?”
Would you:
A) Having done your own research, provide a concise, tailored answer, where you are able to speak genuinely and with confidence.
Or:
B) Answer with a flimsy one-word answer, looking down and start to feel awkward.
Being prepared is the always going to have the best outcome. Therefore, when it comes to a question on salary, you need to be able to adopt a similar approach to answer A. Whether the conversation of salary is left right up to the final offer or dropped into the conversation early on, the one thing you don’t want to do is be unprepared for the question and give a low-ball answer or something you then end up contradicting in a later conversation. Being prepared in advance for a question on salary is going to work in your favour every time. Here are some of the top ways you can do your prep.
1. Know what is important to you.
First of all, you have to know what matters to you. What is your walk-away position, what is your ideal salary and above this point anything additional would simply be amazing! Sometimes the points which are most important to you won’t be around money at all. It might salary, but it could also be flexibility in working style, more holidays, having a budget for continuous learning and courses. Knowing what is important to you, your ideals and mapping these out in your thoughts is a good place to start!
2. Do your homework.
You need to have the facts. Just pulling figures from nowhere or suggesting you want a certain salary level because you feel you deserve it will ultimately ensure nobody takes your request seriously. You need to be able to back your figures up. What are the salary benchmarks for this level of role within the industry in your location? You are going to need to do some digging and find out about the average salary levels and what you might expect within the roles you are looking at:
Look at similar job vacancies to see what salary level other roles are being advertised at.
Go onto Glassdoor or Reed and look up the average salary level for the job title.
Speak with your peers in the industry, you don’t have to ask for their exact salary details, but what level are they at, or what bracket would they consider themselves within.
If you are on social media, try running a poll. If you have a good network, put up a survey to get the industry average for people in similar roles. If you do not have a big network, find one! Join relevant groups, find communities of people who are in your field and connect with them. Get involved and ask about salary levels.
Do a Google search for a recent salary survey. A lot of bigger recruitment agencies will publish these annually. These are generally broken down by industry, job level and location.
Alternatively, get in touch with recruiters who specialise in the roles you are interested in and ask them what salary bracket you could expect for this type of role.
Having tangible hard evidence of the average salary parameters for the role will really help strengthen your answer and enable you to speak with real confidence around your salary expectations.
3. Appreciate the value you are bringing.
Whether it is a university degree or experience from working in a similar role, you need to have thought out and be able to evidence the value you are bringing to this company. You might have recently done a short-course on a highly in-demand skill, you may have tangible examples of achievements you have displayed in your previous internship (cost savings, innovative solutions for product development, a highly successful project which got great feedback).
One point to bear in mind is, what you feel is valuable and what the company sees as valuable may be slightly different. Being able to match your skills and experience to what the company has stated they are looking for in the job requirements is the real value you will bring to the role.
Being clear on this point and able to articulate the issues you will be able to solve through the value you will bring really adds weight to WHY you are highly relevant to them and WHY you are looking to achieve the salary level you are proposing.
4. Have an understanding of what they might go to.
The final piece to consider is what level are they prepared to consider for the role. If the salary level wasn’t advertised up front, when the conversation around salary levels and your expectations is brought up, flip the question. It is always best to have more info before launching into your proposal, so ask them:
“What salary bracket do you have in mind for the role?”
Or
“Did you have a range in mind for this position?”
Or
“I don’t believe the salary level was advertised, can you let me know the level you see the position sitting at?”
Having clarity on the level they are looking for in the role allows you to tailor your answer more. For example, if you feel there is a lot of growth opportunity for you in the role and you will need to develop more skills in the position, you might suggest the lower end of the salary and suggest it allows you room to grow into the role. Alternatively, if you feel you meet a lot of the requirements and are going to be highly competent in the position, you can outline your value and reason that you would be looking for the higher end of the salary bracket.
They may not make you aware of the salary level for their role and swing the question back to you before giving you an indication of the range they will consider. This is when your knowledge on the market will help you speak with strength around the salary you propose to them. You are going to have to give them a number without low-balling yourself or pitching it too high. In this instance it is best to give a range, not based on what YOU want, but on what the industry is dictating:
“I have been interviewing for roles between X and Y”
Or
“Having done research on the average salary within the industry, I am aware salaries can be up to X for this level of position, with an average of Y, I would be looking for somewhere in this range.”
Knowing what is important to you, being armed with all the facts on relevant salary levels, understanding the value you will bring to the role as well as knowing the salary parameter for the position will allow you to tailor a really strong answer and have confidence when delivering it! Putting all of this together could look like:
"I am really interested in the opportunity with you. I know I will be able to bring X, Y & Z and support you with the key issues around A, B & C. I am aware that comparable roles in “Location” pay in the range of £X - £Y. I would be looking for around £X in this role. This, I feel, would be in line with my skills and experience as well as being fair for the level the role is operating at."
The Offer:
If you are offered a role without the conversation of salary ever having come up, you might be interested to open-up a chat around the offer they have made in order to negotiate a higher starting salary:
“Thank you very much for offering the position of X to me. I am delighted to have been chosen and am excited with the prospect of working together. I would like to have the opportunity to discuss the base salary before accepting the offer."
This will allow you to then put your case to them of the value you will be bringing to the role, as well as your knowledge on average salaries. You may also need to suggest the level at which you would feel happier with the offer or put it back to them to consider making you a higher offer.
“I believe the skills and experience I will be bringing to the role will be a real asset to delivering the goals of x, y & z. Having researched similar roles in the area within the industry, the average salary level is “A” and I would be looking for a similar level within this role.”
You may have been offered two roles at once and want to see whether the role you are most excited about will match the other offer you have been made:
“I have been offered another opportunity with a similar company, with package X. My preference is very much your organisation, is there anyway you could match the other offer and make it an easier decision for me?”
Conclusion:
As with any situation, the better prepared you are, the more confident you will feel to answer. So, whether it is dropped into a question within your interview or the subject isn’t raised until an actual offer is made to you, the more info you have, the clearer you can structure your answer and the more positive you will feel to tackle the subject on salary. Let’s stop the stigma around talking about money, let’s start normalising the topic and realising what we are worth.
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