Negotiating a pay rise is a daunting prospect whatever the circumstances but, according to Michelle in an article featured on the LongRoom website, it can become especially terrifying when you’re in an interview for a new job.
But career expert Michelle Gibbings said there are five things you should do to improve your chances.
Leverage – Package – Whole – FEMAIL – Salary
From seeking leverage to looking at the package as a whole, here FEMAIL reveals how you can boost your salary in an interview setting.
The first thing Michelle said is absolutely essential if you want to gain a pay rise is that you do your homework.
‘You – Rates – Industry – Package – Request
‘You need to know the going rates in the industry, so you can understand whether your salary package request is above or in line with the market,’ Michelle told FEMAIL.
She recommends you check out job sites and LinkedIn for a range of data on salary ranges for roles and professions.
Fair – Work – Ombudsman – Website – Details
‘The Fair Work Ombudsman website also has details on award rates and penalty rates so if you are on an award you can see the pay scales,’ she said.
Furthermore with this, Michelle said you should try to talk to people in the ‘same industry or role, as well as professional membership bodies as they can provide insights into what is possible and reasonable’.
Michelle – Leverage – Law – Supply – Demand
For Michelle, leverage is the ‘basic economic law of supply and demand’.
‘If there are lots of people with the same technical and professional skills and demand is low, wages can be squeezed,’ she said.
Contrast – Sector – Industry – Profession – Demand
‘In contrast, if you are working in a sector, industry or profession that is in demand and there is a short supply of people to fill those roles then you’ll have greater bargaining power.’
The careers expert recommended you ‘get clear on the value you will bring to the role, how you demonstrate that… (Excerpt) Read more here.