Five ways to negotiate your salary in the Insurance market

The prospect of negotiating your salary can be daunting particularly right now as the UK is filled with economic uncertainty. However, if you feel as though you’re highly experienced within the Insurance sector and attain the necessary skill set desired for the role, there is no reason for negotiation to not be an option. With that being said, these are tips to navigate your salary negotiations.

Become familiar with industry and salary trends:

Understanding and familiarising yourself with salary trends within the Insurance market is highly important. Researching the current salary trends will enable you to find the going rate for your position, the experience level required and figures for your geographic area. The majority of employers will be open to this conversation, and you’ll be able to have a level-headed conversation with them.

Be reasonable throughout the negotiation process:

A reasonable employer won’t withdraw an offer just because you tried to negotiate your salary. However, it is important to be aware that if you suggest a number the employer will likely decrease the number to a lower amount, and you should be prepared to meet in the middle.

Practise your delivery:

Practising the way you articulate yourself, especially when speaking with your potential employer is highly important. Practising your delivery will enable you to be more confident and be prepared for questions they may ask regarding why you want to increase your salary. Running through your delivery several times prior to this discussion will make you feel more comfortable heading into the salary discussion.

Get everything in writing:

Once you and your hiring manager have finalised everything, ask for everything in written documentation. Besides the salary amount the documentation should also include any bonuses or any benefits, you may be offered as well as a list of responsibilities required of you to fulfil this role. The document should be signed by both you and your employer.

Stay positive:

Although the majority of employers will be open to the discussion of exploring different salary changes, some employers may refuse to give you the offer you had hoped for. Despite the fact this may be frustrating, you should remember that you will likely be reporting to this person, and you still want to ensure you come across as gracious and appreciative of the opportunity.

If you’re interested in taking the next steps in your career working in the insurance sector, apply with us today and we can find the perfect placement for you. Feel free to call us on 0203 225 5584 to discuss everything in further detail.