Before going over the techniques that will help you negotiate your accounting salary, forget about any possible stigma you may think is associated with negotiation. Although some accounting job seekers believe that hiring managers look unfavorably upon candidates who try to negotiate their salaries, the converse is typically true. Negotiating an accounting salary often reminds the company about the attributes, such as confidence, that made them want to hire you in the first place. Ultimately, the key to success is to negotiate the salary in a constructive way.
Before Interviewing for the Accounting Job
Conduct research: Before you even set foot into that office to conduct that accounting interview, you must ensure that you are aware of the company’s salary range and benefits, and the salary ranges that other accounting firms are offering candidates for a similar position. It is also important that you research the company itself and its main competitors. Finally, determine what it is you want from the job, particularly from a monetary and career-boosting perspective, so that you can use that information during the salary negotiation.
Don’t bring up compensation too soon: Don’t ask how much the company is willing to pay until after the hiring manager decides that you are the perfect person for the job. After it has been decided that you are in fact the best candidate, company representatives will be more willing to offer a bigger salary to entice you to join them.
If possible, don’t get caught up in salary requirements: If it’s possible to get out of stating your desired salary, don’t state it. Explain that you understand why the hiring manager would like to use the information; after all, he or she certainly does not want to fall in love with a candidate whose salary requirements far exceed what the company is willing to pay. Also note that your goal is simply to discover if the company is a good fit without having to consider compensation. If, however, you must provide a desired salary, don’t provide a specific number. Instead, provide standard industry averages.
After They’ve Made the Accounting Job Offer
Provide a salary first: Once the employer has offered you the job, you should try to mention the salary that you hope to receive before the hiring manager has a chance to do so. This way, negotiations for your salary will start at your end of the spectrum. This is vital because the rest of the negotiation is based on the first offer.
Don’t accept right away: Even if you feel that the accounting job is perfect for you, you should wait to accept it. Accepting the position too early in the process means that you won’t have the opportunity to negotiate a higher salary. After the offer and accompanying job salary have been presented to you, tell them you will get back to them with an answer in x number of days.
Make them aware of other job prospects: If you have several potential job prospects in the works, let the employer know. Especially if you have received an offer from another company already, it is important to mention this information because the second company may be more likely to make a better offer of their own if they know that they are competing, in effect, for your services.
Make them aware of your expectations: From the outset, you should be open about what you hope to get out of the job. Whether this comes in the form of benefits, mobility, or autonomy, the hiring manager needs to be aware of what you hope to gain from the position.
Extra perks: In the event that the company is unable to meet your salary requirements, they may be able to make up for an inadequate salary by providing perks that will serve as additional compensation. One option would be to ask about tuition reimbursement options in the event that you are planning to go back to school. This is also far more valuable — adding to your future ability to get a job — than, say, a great parking spot.
Quantify accomplishments: Let the company know what you’ve been able to achieve in your last position(s) in terms that they can understand. You helped your last accounting firm implement a new software program? Great! How did it positively impact the company? Also, be sure that they know that you will bring that value to your new company as well.
Ensuring that you are properly prepared for an interview and any salary negotiation will ensure that you not only land the accounting job of your dreams, but that you will receive the compensation you deserve.
