Whether you’re negotiating a new job, discussing a counter offer when attempting to tender your resignation, or just wanting to secure a better salary in your existing role, it’s important we all know how to secure a reward that is competitive and a true reflection of our worth.
Here’s our top tips for negotiating a better salary as an accountant.
1. Do your research.
Salaries are moving at pace right now. Unless you’ve been living in a cave you’ll know all about the cost of living crisis, rising rates of inflation and the impending recession. Combine this with a talent shortage in the niche market of practice recruitment and the salary increases we’re successfully negotiating alongside our clients are massive.
We can help you benchmark what you should be earning so call us today to complete your research and benefit from our unique experience.
2. Prepare your pitch.
Before you walk into a situation where you’re likely to be asked ‘what are your salary expectations?’ take some time to prepare your entry offer.
The very last thing you want to happen is for your opening figure to be lower than what your current or potential employer was expecting. Remember that an opening offer is just that, a starting point so go in above the level that would be your minimum.
Best case that will be accepted, worst case you’ve left some room for negotiation.
And remember that a deal will be struck when both parties see that the reward is worth the service, so go in armed with reasons why you are worth that number. Take note of your transferable skills and ideas about what you hope to achieve in exchange for that salary.
3. Don’t expect an immediate response.
Especially if you’ve gone in high, it’s unlikely that your number will be signed off immediately. But to avoid the agony that comes with an endless wait, be sure to ask for a timeline for decision making.
If they fail to come back to you in the agreed timeline then you’ll also get a good idea of how organised the firm is and this will aid you in your decision making about whether the role is even the right one for you!
4. Don’t take a ‘no’ personally!
A salary negotiation is akin to a business transaction and it often comes down to some pretty black and white decisions. If you receive a ‘no’ then the ball is back in your court and you can decide if the figure being offered is aligned closely enough with your skills and experience.
Take the time to look beyond the pound signs and think about additional rewards and what they are worth to you. Perhaps enhanced healthcare benefits are of particular value to you. Or maybe the ability to work on a hybrid basis will make your work life balance considerably better – these things all have a value too so make sure it’s the whole offer that you consider and not just the salary.
5. Don’t go it alone.
Working with a niche accountancy recruiter has so many benefits. We’ll support you to find the best roles that might not even be publicly advertised. We’ll help you prepare your CV and get interview ready. We’ll ensure that you receive timely and constructive feedback if you don’t get the first job you apply for, and when you are offered that role we’ll support you in negotiations to get the very best package of rewards. We’ll be in it together.
‘ I like to think that my team offers a great service at every step of the recruitment process but we know first hand that candidates particularly value our support and encouragement at the negotiation process. Our extensive experience and already established relationships with so many practice employers mean we have a strong understanding of how far to push back and when to step away or accept what’s on the table. It’s a fine art and we’re skilled at it.’
Garry Howling, MD
If you find yourself in the situation where you’re having to evidence or argue your worth, it’s always worth reaching out to us for a sense check and to benchmark the figures you’re talking about. Our team will be ready and waiting to take your call.
You can call us on 03335 777 787
Or email info@publicpracticerecruitment.co.uk
