It’s the conversation you never want to have, and yet for most of us it’s the most important.
Yes, job satisfaction and other ways we are rewarded in our roles are an important factor. But how we feel about the amount of money we are paid is crucial to our productivity, sense of worth and happiness.
If you truly value your own skills and experience, and have mastered the careful art of negotiating salary, this article is not for you.
For everyone else, here’s our guide to knowing your worth.
Do your research – whether you’re looking for a pay increase or applying for your dream job, you need to know your market value before entering into any salary negotiation. There are lots of online tools you can use which also offer additional information relating to qualifications, location and experience.
Also, while your colleagues might not be keen to share details of their own salary, asking your peers, at events for example “What would you expect somebody in my position to earn?” might reveal some interesting answers.
A survey by Accountancy Age in 2018 revealed that the average salary for an accountant in the UK is £62,042 a year.
Keep track – Knowing your own worth as an employee is one thing but using it when negotiating salary is something completely different. Keep track of all of your accomplishments and leverage them to your advantage. Remember that your professional career is more than just the 9-5 at your desk. Have you written any guest blogs, spoken at any events or taken any courses which prove your passion and ability?
Know when to walk away – it can be so tempting when being offered a dream role, to accept the salary no matter what. So, when that offer letter comes your way, be sure to give the salary real consideration before accepting. That’s easier said than done, especially if you’re unhappy in your current role or you have job search fatigue. You could respond with a reply such as “I’m thrilled to be offered this role, and I know that I can offer the company so much. I appreciate your salary offer but was expecting to be in the range of £X based on my experience and qualifications. Will you consider a salary of £X for this position?” Don’t be afraid to negotiate by email if that’s easier.
Talk to recruiters – recruiters have all of the insider knowledge you need, so use them! They are in your corner! A good recruiter will want to get you as much money as possible in the best role possible. So, the more honest and open you can be with them the better for everyone.
“At Public Practice Recruitment Ltd, we specialise solely in recruiting accountants for accountancy firms. And as well as helping candidates find the perfect fit job, we also support them through difficult conversations around money. Just remember, most employers hardly ever make their best offer first, they expect you to negotiate. Yet studies show that 18% of people never do!”
Garry Howling, Public Practice Recruitment Ltd
There are many changes due this year for UK workers – IR35, the abolishment of Swedish Derogation, the holiday pay reference period increase, written statements for all and many more positive legislative changes ahead. It’s an incredibly positive time for candidates and we’re excited to guide you through your journey.
As specialist accountancy recruiters, we know how candidates think – how their minds work. When it comes to all aspects of the accountant recruitment process, we’re the experts – always here to help.
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