Get Your S*** Together: How To Negotiate Your Salary

With the school year drawing to a close, it’s time for yet another cohort of graduates to hit the job market in search of employment. Amidst endless assessments, interviews and negotiations, there’s often one topic that looms large over every student’s head: money. How can I justify my salary, or how do I negotiate with a prospective employer without coming off too strong? All valid questions, yet there’s never a one-size-fits-all answer. 

We chat with Ms Shirlyn Ong, a career advisor who possesses a dual portfolio in Industry Relations at the National University of Singapore’s Centre for Future-Ready Graduates, to find out how to make sense of and navigate these tricky situations. 

If students know the estimated salary they should receive upon graduation but a prospective employer is offering a salary that is much lower than that, how can they negotiate with them? Do certifications or internships significantly increase starting salary?

“Preparation and maintaining good communication are crucial when it comes to salary negotiations. You need a good grasp of the market benchmark for similar roles, what the employer is looking for and how you can contribute to the role. Typically, hiring managers are looking for candidates who can get up to speed quickly with the right technical skills and knowledge, fit seamlessly into the team culture, as well as demonstrate potential and a genuine desire for growth. 

Efforts taken to demonstrate these points can help back you up during salary negotiations. These could stem from internships, academic or self-initiated projects, case competitions, co-curricular activities, volunteer work, or extra certifications. The key is to highlight the relevant experience, your soft skills and demonstrate the value you can bring to the role.

For internships specifically, remember that the quality of your past internships would matter more than the quantity. Think of internships as purposeful, intentional developmental experiences, so you should highlight the relevant skills you’ve built, rather than just listing the companies you worked for.

Once you receive an offer, the only certainty is that the employer wants to hire you at the salary package that was offered. All negotiations carry inherent risks and no outcome is guaranteed. From an employer’s standpoint, the process of making a job offer can be complex, with revisions needing additional discussions and further approvals. The key is to remain professional in all communications, express gratitude for the offer and back up your request with facts, industry research and how your skills and knowledge provide a match with the role. Having a discussion with the prospective employer over a call first and following up with a polite email can make the process much smoother.”

Should I prioritise salary or learning opportunities in my first job? 

“Striking the right balance between a dream salary and promising learning opportunities is a common dilemma, but it is impossible to know with certainty if a better offer is just around the corner.  Every graduate has different circumstances and priorities; therefore, I would advise students to reflect on and set their own timelines, and make decisions in accordance with their unique situations. Even if the offered salary is below what you were expecting, the additional skills and exposure you gain in that first role can become a good leverage for negotiating a higher salary later on. 

Sometimes, it can be better to accept a role where you can build credible on-the-job skills rather than to remain unemployed while holding out for the perfect paycheck. This is especially true if the waiting period is uncertain and the opportunity cost of missing out on early career growth is high.”

Given that many companies have been on a hiring or pay freeze as of late, or only hiring contract roles, are these roles paid differently from full-time roles, and am I losing out by taking on a contract position instead of a full-time one? 

“Compensation structures vary across different companies, so it is not a hard rule that contract roles offer less desirable packages than permanent ones. While permanent roles have traditionally been viewed as the gold standard for job security, that certainty is no longer guaranteed in today’s evolving employment landscape. Contract roles can be excellent stepping stones that offer meaningful industry exposure and skill development – both of which are crucial for your long-term career growth and future employability.”

Are there hidden components in salary packages I should watch out for?

“When evaluating an offer, you should consider factors beyond the basic monthly salary. There could be other elements to consider such as allowances, the annual wage supplement commonly known as the 13th month payment, and variable bonuses.  

While it is tempting to compare job offers based solely on the salary figure, I strongly urge young professionals to consider offers holistically. Several factors will influence your overall career trajectory, including the potential for personal growth, the level of industry exposure, development opportunities, and the overall work environment. Ultimately, it is essential to align the role with your long-term career goals and personal values to determine if the position is truly the right fit for you.”