How to handle salary negotiation

Rupert Hay
June 24, 20192 mins read

Before touching on the subject of Salary Increase in an interview, below are five pointers for you to think about before being asked that question:

If you encounter the salary question during the first interview just be honest and tell the interviewer your current package. As for expected salary, you can simply ask for the market rate and a reasonable increment if you are not sure about your new employer’s budget.

Never lie about your current salary. It is common that you will need to provide your previous pay slip as proof during the reference check process. If you are unable to supply this with the figure you mentioned, an employer can simply pull out of the offer.

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It is not encouraged to resign without another offer on hand as your negotiating power may vary depending on your current employment situation. If you are unemployed, it is likely you will only be able to earn similar to your previous salary or less. However, if you are being hired away from an existing position, you will be in a better position as most employers will anticipate job seekers will be looking for an improved compensation package as well as better career prospects.

Don’t be too quick to let an offer that is below what you asked for close the door to a job opportunity. In these tough times, it is important that you weigh out the positives and negatives and make sure that the reason you turn down the job offer is reasonable. After all, you never know when a similar opportunity will come around again.

Handling offers and salary negotiations is always the sensitive part of the entire recruitment process. It is best left with your recruiter to handle on your behalf instead of dealing with it yourself directly, simply because there is no second chance for you to revisit.

Have any questions you would like to ask regarding how to handle salary negotiation? Feel free to ask away!

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Rupert Hay's picture
Associate Director | Financial Services Front Office
rhay@morganmckinley.com

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