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Salary negotiations presentation - Diane Cotterill v1.2
- 1. Salary Negotiations Diane Cotterill 2 degrees recruitment @dmcotter
- 2. So why do we find it hard to ask for more money? Why is it difficult? Asking For More
- 3. The gender pay gap still exists Why It’s Important
- 4. Salary Processes What goes on in the boardroom?
- 5. Salary Considerations What else should you consider?
- 6. What’s Important to You?
- 7. How do you ask for more? Pay Rise Time
- 8. Negotiation Example What if someone is paid more than you, and on the surface it seems unfair? “It has come to my attention that ‘Charlie Brown’ is paid more then me and from my perspective, I feel I’m working at a similar level to him and bring similar attributes to the company. What skills and capabilities do you think I need to improve or demonstrate to be considered on a par with that person and obtain a similar salary?”
- 9. So why do we find it hard to ask for more money? How do you get the salary right? New Job Offer
- 10. Negotiation Example Front end Developer role for a product company advertised at $80-120k. You currently work at a bank, have 4 years’ experience and are paid $100k package. They ask what salary you are looking for: “Given my skills and experience I am looking for around $110-120k – depending on the role and responsibilities I will be given. I can give more clarity towards the end of the process, once I understand the role better and have an idea of other offers I have on the table.” If they ask is it package or + super: “Well it’s a range so it doesn’t really matter does it at this stage? (if pushed) – around $110k package as my lower limit. Does that seem fair to you in line with my skills and experience?”
- 11. Negotiation Example Crunch time - they offer $100k package “I have to say I’m disappointed with that number. Given the level of responsibility I feel the role warrants a higher salary. Is there anything that can be done to increase it?” Or: “I’m considering offers from other companies and so I’ll have to get back to you – if you can increase the salary in the meantime then it’s more likely that I’d be able to accept. A figure of $110k would make it a lot more likely that I would take the role.”
- 13. Be Confident!
Editor's Notes
- Going to cover: Why good negotiating is important What goes on in the boardroom and salary review processes Practical Tips for you to use
- Impostor syndrome – not worthy of recognition, undeserving and guilty Tiara syndrome Women underestimate, men overestimate
- Pay gap still exists – not all negotiating but still room for improvement to reduce the gap Women increasingly becoming breadwinners Not good for the team or company if you leave without discussion - $50k to replace
- For a new role: - compare to internal staff - research role externally – number you give them! For a pay rise: - 4-5 months before, discussions start - start having conversations early Managers have budgets to consider Large companies – calibration Small company – need to ask
- Every company is different but we can make some generalisations
- Tech Interest – can really vary – dependent on you Start up – can pay really well if well funded Your worth is different with every company and each type of company – not the same!
- Research Get facts in your head, write them out long hand Make sure your successes have been communicated before hand(ideally) If not now, how? And when? Feedback on another employee?
- Do your research early Try to give a range early in the piece that you’ll clarify later Get feedback on what the recruiter thinks of what you are seeking
- Need to avoid being seen as cheap but also need to get through the HR process when they have been given a set salary band to consider.
- Are your skills in hot demand? If so, now is the time to negotiate or Contract Look at opportunity and future potential not just immediate dollars No matter how good – you might not get an increase Questions
- Exercise made famous by Amy Cuddy in her Ted Talk in 2012 Did research that showed that if people took this power pose for 2 minutes prior to going into the interview it increased their interview performance Reduced stress and increased confidence