4 things to consider when negotiating your salary

When you started out in your current position, chances are that you negotiated an offer that suited your needs at the time. But as we all know, needs change over time. What was a good deal several years back, may no longer be working for you, despite annual salary increases.

This often presents a bit of a dilemma, especially if you’re happy working in the practice you’re at. Do you just keep going, not saying anything? Do you look for other opportunities elsewhere? Or is there a possibility to renegotiate your package to include some benefits that would meet your current needs?

Here are some things to consider…

1. Figure out what you want and need first

There’s little point starting a negotiation unless you’re really clear on what you would like to get out of it. So before you approach the practice owner(s), take the time to sit down and map out what’s important to you, and areas that you are struggling with. Are you finding you don’t have enough family time? Are you feeling like you’re missing out on important family milestones? Do you want to go on courses to pursue a special interest, but don’t have time or funds available to do so? Write down everything that comes to mind, perhaps even discuss it with your spouse or significant other. They may be able to make suggestions or highlight things you’ve talked about in the past. Once you have a few ideas written down, the next step is to figure out which the most important are. It’s unlikely you’ll be able to get everything you’re after, so decide beforehand what’s a priority for you, and what you’re willing to concede.

2. Get some industry input

Find out what is being offered in the industry and how different practices operate, it may provide some insight for making suggestions to the practice owners. Keep in mind that most practices want to retain their staff and they understand the challenges of the industry. If they see or hear of things working well elsewhere, they may be willing to try it too. Be aware that it’s not just about money. Other ways in which packages can be renegotiated is to include more leave, either annual leave, or making allowances for dependants or illness. There is also the aspect of supporting professional development, either by paying for or subsidising association membership fees. CPD provision could take the form of paid leave to attend courses, or funding of the courses in part or in full. Other employee benefits may include contributions to a pension scheme or health plan. All of these things can make a difference to an employee’s take home pay or work / life balance.

3. Take a positive approach

When you sit down to talk with your boss/es, be sure to take a positive approach, explaining your circumstances and what aspects of your job you’re finding challenging. Ask if they’re open to renegotiating your salary and then make suggestions, tying them into your specific circumstances and needs. This will demonstrate that you’ve done your homework and thought through the situation and possible solutions – something that’s more likely to earn their respect. They’ll probably also appreciate that you came to them first, rather than simply going out looking for another position elsewhere.

4. Be open to negotiation

While you may have a good idea of what you want and need, the practice may not be able to meet you on everything that you want. Highlight what is most important to you and explain why. You may need to forego smaller benefits in order to get what you really want so it’s good to be clear on what this is. Be willing to negotiate, especially if you’d rather stay in the practice. Remember that it has to be a deal that works for both parties.

Ultimately the success of renegotiating will depend on your approach and clarity of knowing what you need, and if it’s realistic considering how the practice is doing. If it doesn’t work out, at least then you know what your options are, and if you choose to move on, you can do so without regrets and in good standing.

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