Negotiating your salary

Salary negotiations have become an increasingly established part of the job process. So how do you determine what you're worth?

The key is to gather as much information as possible before you can begin negotiations .We take a look at some key factors that you can consider before this process begins. 

 

Performance of the company

It is important to understand how the company you are interviewing with is performing. Have they posted record profits for the previous year, or is their financial performance below their targets? Have they made many redundancies in the past 12 months? All of these factors will have an effect on whether the organisation is going to pay above/below or on the market rate salary for a role.

The key is to gather as much information as possible before you can begin negotiations .We take a look at some key factors that you can consider before this process begins. 

Salary of employees in similar roles

Find out how much employees carrying out similar roles are paid. The key is to demonstrate your views with good examples of similar jobs both inside and outside the firm. Benchmark your salary against the Robert Walters Salary Survey in your sector.

Market conditions

Is there a shortage of candidates with your skill set in the industry you work in? Have general salaries been rising or falling with in the sector? Are there a high number of roles appropriate to your skill set available in the sector? It is important you know the answers to all of these questions so that you understand what level of salary you are able to request and what is realistic.

Determine salary trade-offs

Try not to be lured into a false sense of satisfaction by the top-linesalary figure. Make sure you do your salary sums because you may have increased costs in your new job. For example, you may need to travel further to reach your new office or workplace and you might lose out on other benefits too. 

Your new salary may not be as high as you'd like but there could be other advantages; a company car, free health insurance, gym membership or other perks to compensate. 

Find out what you're worth by download our latest Middle East Salary Survey

For more information please contact:

Jason Grundy, Managing Director
jason.grundy@robertwalters.com
+971 4 8180 100