Discussing salary

I am in the final stages of the interview process for a new job and the issue of money will come up at the next meeting. Help!

By Unicorn Jobs

You have your current salary as a starting point, though most people would want to increase their income by moving jobs, especially if you are moving up the hierarchy in some way.

If that’s the case, think about what your salary should be and why. Do you know anyone in a similar job elsewhere? Ask them for a ballpark figure on what this job should pay. Otherwise, scour job ads – online and in the papers – to see what is being offered elsewhere for this sort of role.

Think about your living costs – rent of course (will you have to move?), new clothes (are you moving from a casual dress company to a business dress company) and consider your commute (will you need a more expensive travel card). Then, when you are asked about money, you will be well prepared to articulate what you are hoping to be paid, and to justify it.

Don’t forget the other benefits other than money. Private health insurance, share options, gym membership, staff canteen, interest-free season ticket loan etc. Make a list of what you currently get, and compare that with what’s on offer at your potential new company. If there is more on offer, perhaps that compensates for a less than perfect salary increase?

Most importantly, before the meeting, ask yourself honestly how much you want this job and what salary are you prepared to accept – and what you can live on. You might consider a lower increase, or even a lower salary, in return for a great opportunity to learn a lot – especially if the job has prospects.

Remember that many companies are especially cautious about pay when they first hire someone. If you do accept less than you feel you deserve – or need – ask whether you could have a salary review, say, in six months. Suggest that if you work hard and they are happy, then they might give you a rise.