Whether you’re a newbie or a budding finance pro, you probably understand money better than anyone else. Undoubtedly, you are in a better place with salary negotiation, aren’t you? Why not make the most of it?
Negotiating a good salary can help you crush it in your career. You don’t want to be slogging for peanuts, right? Unfortunately, 47% of Americans believe they are underpaid, and finance pros are a part of the group.
But fear not, money-savvy people, because we’ve got some hot tips to help you enhance your paycheck. You can rely on them to navigate the salary negotiation process like a boss. Let’s share the tips to help you get that cheddar you deserve!
Whether you plan to work with a BFSI company or join a trading firm, be ready to do your homework first. The industry requires skilled professionals. But you’ll probably encounter stiff competition in the job landscape.
Don’t just throw out a random number and hope for the best. Research the average salary range for your location and position. Check platforms like Glassdoor or LinkedIn Salary to know what your peers are making.
Don’t sell yourself short, no way! It’s one place where people often go wrong and end up with a frustratingly low paycheck. The best piece of advice is to put an imaginary price tag on yourself before embarking on the journey.
Take a realistic inventory of your skills, accomplishments, and experience. Do you bring unique value to the table? Be ready to highlight it and link it with your salary figure. For example, explain how you helped with client retention or the financial growth of previous employers.
Now, that’s crucial! You don’t want to sound like a novice when negotiating your salary, right? Practicing your pitch beforehand does the trick. For example, you can try this how to negotiate salary offer example to rehearse a conversation with the recruiter.
Ask a friend or mentor to play the recruiter and give feedback. You should be able to articulate why you deserve a specific number. You cannot expect the employer to give in unless you handle the conversation with confidence and conviction.
Look, no one will hand you a big paycheck on a platter. Even the most qualified finance pros cannot expect a dream figure, right? You’ve got to ask for what you want and convince the potential employer to come to the same page.
Don’t be afraid to speak up if the initial offer falls short of your expectations. Be polite but firm, and offer tangible reasons why you deserve more. You may be surprised at how easily your recruiter may come to meet you halfway.
Recruiters aren’t always ready to compromise, and you may not get them to budge despite your best efforts. In that case, be ready to walk away from an offer, no matter how good it sounds.
The finance market is huge, with plenty of opportunities out there. So don’t settle for a lowball offer you’ll regret sooner than later.
There you have it! These valuable tips can surely help you get on top of salary negotiation as a finance professional. Step into the market and ask for what you deserve!
