Salaries are a make-or-break factor in the recruitment process. With top IT talent being in high demand yet short supply, the salary plays an even greater role.
Whether you’re looking to hire an IT expert or searching for a new IT role, we’ve compiled a few of the top salary negotiation secrets that will help you carry out the process with confidence and ease.
For the Employer
So, you’re looking to expand your IT team? Great!
Keep these secrets in mind when negotiating with your candidate and you’ll be sure to secure your new hire.
Familiarise yourself with industry standards
Before jumping into the hiring process, you need to first do a bit of research.
First gather industry data on average pay ranges for the role. Look at the different pay ranges based on a candidate’s level of experience and expertise, and consider geographic location when doing your research.
For example, a cyber security specialist based in Sydney may expect a higher salary than someone based in Perth due to a variety of factors such as cost of living, demand, and so on.
You can research what your competitors are offering and look on Seek.com, but the best way to receive accurate salary information is by speaking to an expert IT recruitment agency. Part of their job is to stay up to date with the latest salary trends, so all the hard work has already been done for you.
Be prepared to pay more
We all know that IT experts are in extremely high demand yet short supply which is why you’ll need to sit down and be realistic about what your company budget allows for. If you want great IT talent, you need to be willing to pay more for great talent, or else you’ll see them accept another offer.
Be prepared to offer these highly sought-after experts a bit more than your competitor.
Consider other forms of compensation
The negotiating stage in any hiring process requires flexibility from both the candidate and the hiring manager. If you find that you can’t offer the candidate the salary that they’re asking for, bring up the idea of other forms of compensation.
This can include flexible working arrangements, devices that can be used for both work and personal use, corporate discounts, and more. Remain as transparent as possible and see if they’re open to the possibility.
For the Job Seeker
Did you know that 58% of millennials have never negotiated a salary before, a lot of it due to fear? That’s a pretty steep number, especially considering how sought-after IT professionals are.
Negotiating a salary is an incredibly important step in your job search, so let’s dive into some of the secrets to doing it right.
Know what you’re worth
This may go without saying, but it’s so important to know your worth as a professional, especially before an interview. The interviewer wants you to sell yourself and get a better understanding of what you have to offer the company, so this is where it’s really important to be confident in yourself.
Look at your skill set and experience, then rate yourself in each area and recognise where your strengths and areas for improvement are. Research average IT salaries in your area, talk to industry professionals, an IT recruiter, or friends working in your field, and use a take-home salary calculator to work out a reasonable asking salary.
Prepare a sheet of why you’re incredible
Have you ever been asked the “why should we hire you?” question and your mind went blank? That’s ok. Sometimes it’s difficult to answer on the spot, especially if you’re not comfortable talking about yourself.
Write a list of why you’re an expert IT professional beforehand. Include any achievements, awards, formal/informal testimonials, a project you worked on that you’re really proud of – anything that demonstrates your value to a potential employer.
For the Job Seeker
With cyber security experts quickly becoming one of the most sought-after professionals, differentiating yourself from other candidates is the key to landing that job. Let’s find out how you can do just that…
Know your ‘walk away’ point (and respect it!)
Sometimes an employer offers a salary that’s so low you do need to respectfully walk away. But at what point? Again, take time to decide on this number beforehand. Then, remain transparent and explain to the employer that the offer is not what you had hoped for. If they are still hesitant to offer more and are unwilling to negotiate, you need to walk away.
When this happens, just remember that a new IT opportunity (with a higher salary) will come along. Stay positive.
The best way forward
With all the moving pieces in negotiating an IT salary, sometimes it’s just best to leave it to an expert IT recruitment agency. After all, it’s a large part of our job.
With 20+ years’ experience in IT recruitment, we’re here to help you find your next hire and find your next role. Talk to us today to get started.