Many people struggle when the topic of money comes into the picture. They are concerned for asking for too much but they sure do not want to leave money on the table either. This can be a challenge for many people. What is the best way to negotiate an accountant’s salary? Well, like I have preached before you never want to be the first to offer a number. Do your best to get them to mention a number to you. You have more control when you handle it this way. However, what do you do when there is still a gap? Here are some strategies I have used to help raise a candidates base salary.
1. Offer a review in 90 days. Let’s say that there is a $5,000 gap. One way you can close this gap is to ask for a review after a certain period of time. The objective is to outline on paper the exact goals that you will try to meet in the first 30 days. If these objectives are met, then your base salary will be raised $5,000. This can be a great negotiation technique. The reason why is most owners/employers have backlogged projects, new process and other items that they really want to get done. It is even better if those items result in improving the bottom line. This makes raising the base salary a no brainer.
2. Attach a specific result to an increase. This may sound like the first point, however, it is even more specific. The truth is whenever a position is left open there is always some “pain” left in the wake. The longer the position is left open, the more the “pain.” Not physical pain but there are things left undone. Things are getting backed up and things are left on the shelf to collect dust. If in the course of the interview, you have discovered that there is a specific result the hiring manager is wanting to accomplish. Then, use this to your advantage. If I can get “y” done, will you increase my base by “x” amount?
3. Ask for a sign on bonus. This can be a last attempt, but it can work for the interim. See if you can close the salary gap with a sign-on bonus, then re-evaluate the salary in a year once you have shown your stuff.
These are just a few of the strategies that you can use to raise that base salary. If anything, hopefully this has got you thinking. Do not just blindly take a low base salary without seeing what other options might be available. Of course, like anything, you need to use this techniques with discretion. If you do not have any rapport, nothing will work. Most of the time, we have more leverage than we realize.
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Jonathan is an Executive Recruiter/Career Coach that has successfully placed hundreds of Accounting & Finance Professionals. If you are currently struggling in your career, he is available on a limited basis for personal 1-on-1 career coaching and for resume makeovers.
