How to negotiate your salary

November 10th 2023 | Posted by phil scott

Although negotiating your salary for a new accountant sounds tricky, it can also be a very exciting phase of a job offer process.

While most of the people get nervous at the time of negotiating their salaries, they can actually end up getting pay increase simply by asking, or presenting a well thought out case to your new employer. Here are some rules to keep in mind in a salary negotiation situation.

Know your value

If you are unable to identify and realise your own value, how can you expect your employer to give you your proposed salary? If you are anticipating to get the pay you think you deserve, it is absolutely necessary to know your value as an accountant. In other words, you need to know about the ongoing rate for your position or job title in your specific industry prior to drafting your negotiation terms or beginning your salary negotiation dialogue.

Don’t enter into a conversation with a number

This is one of the most common mistakes accountants often make when they get into a salary negotiation conversation with their employers. It’s all about controlling the conversation as it proceeds. Entering a conversation with a straight forward figure or number can swing the entire salary negotiation conversation in your employer’s favour which is why you should refrain using a number all by yourself and let your employer come up with the initial figure.

Be confident, respectful, and strong

A salary negotiation dialogue isn’t unlikely to be a heated argument. Rather, you should try to convince your employer professionally and amicably backed up by a solid demonstration of your value. Besides considering your job-specific skills, knowledge, and experience, your employer may also test your patience, and tolerance level. So, no matter how your employer may test you, you should be respectful, confident, and stand your ground throughout the course of the meeting.

Practice your pitch

Sometimes candidates often get confused at some point in time during a salary negotiation meeting. So, it is ideal to practise your pitch right before the actual salary negotiation phase for boosting your confidence.

Don’t exaggerate about your previous job roles

Don’t ever underestimate the person employing you for the position of an accountant! Why? Primarily because your employer will make it their business to get know everything about different candidates they are an interview, especially for more senior roles. So, if you think you can bypass or trick your employer, then you are mistaken. Exaggeration about your previous job roles, and job-specific accountancy skills, and knowledge won’t get you a higher salary.

Be willing to walk away saying ‘no’

Sometimes saying “no thank you” can bring you a better job offer, or pay rise. This gives an employer an impression that a candidate knows his or her worth and wouldn’t agree on anything less than the proposed figure. So, be bold and courageous when it comes to choosing or denying a job offer.