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Do employers expect you to negotiate starting salary?

13 replies

22fgjiyt · 08/09/2022 21:55

Just that really, been offered a new job, salary is more than I currently earn but so happy to accept but should I push for more? Is that the done thing?

OP posts:
FarFromHome2 · 08/09/2022 22:15

It depends. Some employers will have a range in mind, and of those that do, some will place you in it based on qualifications and skills, while others will have wiggle room based on negotiations.

I’ve been interviewed for a couple of jobs recently that turned out to be less than I am on, and they tried to squeeze as close to my current package as possible, but there have been others where the number on the table was the number.

The only advice that I can give is to try and ask in a way that suggests that it’s a reasonable question, but that gives you room to “retreat” and still take on the role if there really was no room for discussion.

Are you willing to say what sort of job and sector it’s in? It might help people to give better advice.

22fgjiyt · 08/09/2022 22:20

Thanks for your response. It's an analyst role for a global financial services firm. So think they'd be used to it and if I didn't I'd be missing a trick but also really want the job.

Will also be losing a bonus where I am and probably too late in year to qualify for bonus in new role

OP posts:
FarFromHome2 · 08/09/2022 22:25

22fgjiyt · 08/09/2022 22:20

Thanks for your response. It's an analyst role for a global financial services firm. So think they'd be used to it and if I didn't I'd be missing a trick but also really want the job.

Will also be losing a bonus where I am and probably too late in year to qualify for bonus in new role

Sorry to ask, but could you be a little more detailed without giving too much away? I’m a board member and MD in a major wealth manager, so may (but may not) be able to give some more specific advice.

DH joined a bank in December, so lost out on the bonus from his previous firm. The new bank paid him £600,000 for two weeks work before Christmas to compensate him for his loss*.

That’s probably not a very common occurrence, but on the other hand asking for something extra to account for a genuine loss like your bonus is not normally seen as unreasonable.

*That bank blew up in the 2008 crisis, so the £600,000 in stock became £7,000 before he received it. Better than a poke in the eye with a sharp stick, but not exactly the “nice house in Pimlico” that it was when he negotiated it.

BlooberryBiskits · 08/09/2022 22:26

^ ask if they will give you a signing bonus to balance out loss of this years bonus - I have asked for this twice when joining a company late in the year & got it both times

Aintnosupermum · 08/09/2022 22:32

Always ask for more. It can be more holiday, pay, other benefits. If it’s publicly traded they can give you shares. Ask for a sign on bonus to cover the bonus you are forgoing to join new place.

Dont be shy. Men aren’t.

22fgjiyt · 08/09/2022 23:06

Thanks all - I'm not talking millions, another £5k and I'd bite their hand off

OP posts:
22fgjiyt · 08/09/2022 23:06

Aintnosupermum · 08/09/2022 22:32

Always ask for more. It can be more holiday, pay, other benefits. If it’s publicly traded they can give you shares. Ask for a sign on bonus to cover the bonus you are forgoing to join new place.

Dont be shy. Men aren’t.

This is where my head was at - thanks!

OP posts:
FarFromHome2 · 08/09/2022 23:09

As above, if your move is going to cost you this year’s bonus then it’s really not seen as unacceptable to ask if they could compensate you for that.

Just ask politely. Say to them that you’re very happy that they’d like you to join their team, that you’d love to do so, and are looking forward to adding value there, but that if you move you’ll be missing out on your accrued bonus, and wondered if they’d be willing to either increase your base pay to compensate for that, or to pay you a bonus this year to cover it.

Andromachehadabadday · 08/09/2022 23:10

I think most expect some sort of negotiation. Whilst hoping that you accept.

In regards to the bonus, use that as a tool. I was given the equivalent of my bonus, as a sign on bonus so I didn’t miss out.

Pineapplemonkey · 08/09/2022 23:24

I'm always telling people, when you get offered a new job, always ask for more. You literally have nothing to lose at that point. Worst case, they say no, and you either decline the job or accept. Best case, they say yes, happy days.

I don't believe a job offer would ever be rescinded because someone tried to negotiate a higher salary. If that did happen, well you've been lucky enough to find out what kind of employer they are, probably not a great one and you've had a lucky escape.

BlooberryBiskits · 09/09/2022 08:46

22fgjiyt · 08/09/2022 23:06

Thanks all - I'm not talking millions, another £5k and I'd bite their hand off

If the job pays 50k + k think this is v reasonable/realistic

I would be asking for
+15% on your current salary to move
reimbursement of lost bonus

you decide your bottom line to accept based on knowledge of your pay vs your industry but what I think might be reasonable is at least +10% vs current salary and half the bonus (or a bigger jump if you are in 1st 10-15 years of your career)

I have always asked for more (except early on when I was offered +30% pay rises to move so it would have been inappropriate), and have always managed to get a few extra K, never any issues with jobs being pulled etc

22fgjiyt · 09/09/2022 09:21

Thanks all for your comments on this - really helpful.

I've called the HR person there this morning and asked for the additional £5k with my reasoning.

Thanks again!

OP posts:
Aintnosupermum · 09/09/2022 15:43

Good luck!

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