Negotiating A Suitable Salary Package
“Negotiating A Suitable Salary as a newly qualified pharmacist could be very daunting”.
Currently in the Pharmacy field, you require more than an outstanding performance during the interview to bag home a Suitable Salary Package. This is purely because the recruiter sees you as a Clean Slate. They have not seen you run a pharmacy, handle an angry patient or even dare to increase the company’s revenue. This is where ‘Negotiating A Suitable Salary Package’ post plays a part.
A suitable salary package is not all about how much money you will be paid. Its a combination of money and company perks. Some company benefits can add up to 20% monetary value of your salary.
STEP ONE: RESEARCH.
Find out everything there is to know about the finance culture of the company. A good starting point for salary information is a website called Glassdoor. Questions to research include but not limited to:
- What is the Minimum and Maximum Salary the company offers for the role your applying?
- How much do they Pay a New Starter?
- What is the Holiday Allowance?
- Is there a Private Medical Benefit in place?
- What is the maximum they pay for Car Mileage?
- Do they have a Car Scheme?
STEP TWO: A PLAN.
Review the information you have and be realistic. If the company offers you the maximum rate for the role, there is no need to request for more money. At this stage it is best to request for more benefits.
Prepare what you will ask for and how receiving this benefit will impact your performance. For instance;
- “I will like an hour for lunch instead of 30mins as this will allow me have a complete rest and return to work fully refreshed and ready to drive through services.”
- “I will like to request a relocation package, as I will benefit from the extra help and then be able to start work immediately, with all my attention focused on bringing my best”.
STEP THREE: PATIENCE
Do not be in a heist to decline or accept an offer. Take some time and think about what the offer entitles. The perfect package is not at arms length, it is a journey so, why not accept an offer but request to pencil in a review date in three months time. Therefore your performance can be factored into your salary package.
Good Job, You have read the first post in PharmacistDiary Finance Series. The finance series is targeted at pharmacists, providing valuable examples to support pharmacists make good financial decisions. Subscribe and be the first to know when the next finance post is published. Titled: Asking your manager for a pay rise.