5 Tips for Negotiating a Better Job in Financial Services
Negotiating your next role in financial services is an essential skill. Whether you’re moving to a new company or renegotiating your current position, securing the right compensation isn’t just about money—it’s about recognising your worth and aligning it with the value you bring. Here’s how to approach it like a pro.
1. Know your market value
You’re a finance professional, so you already understand the importance of data. Apply the same principle to your career. Research salary benchmarks for your role, sector, and location using reliable sources like industry reports and recruitment firms.
Don’t just focus on averages. Consider how your skills, experience, and qualifications stack up against market demand. If you bring specialist expertise or a strong track record, you have a solid foundation to negotiate from.
2. Be time sensitive
When you negotiate matters as much as what you’re asking for. If you’re in the interview process, wait until there’s mutual interest before discussing salary. When renegotiating within your current role, time your request around successes—like delivering a project or hitting key targets.
Approaching the conversation at the wrong time can weaken your position, so choose a moment when your value is clear and the employer is focused on growth or retention.
3. Present a strong case
Negotiation is about value exchange. Be ready to articulate exactly why you’re worth the investment. Highlight key achievements, measurable outcomes, and how your skills will contribute to the organisation’s goals.
For example: “In my current role, I reduced operational costs by 15%, which directly increased profit margins. I’m confident I can deliver similar results here.”
Stick to the facts and avoid vague statements. Employers respond to specific, quantifiable contributions, especially in finance.
4. Follow and process that boosts your confidence
Negotiating can feel daunting, particularly when discussing money. As Andy Taylor, Director of Exchange Street, explains: “Talking about money is an uncomfortable conversation for most people. Following a process will naturally make you more confident, and increased confidence leads to you being more assured when you come to having the conversation. And the more assured you are, the likelier you’ll negotiate what you want.”
Preparation is key. Research, rehearse, and refine your approach. Confidence isn’t just a feeling—it’s a skill you build through planning and practice.
5. Look beyond base salary
If salary discussions hit a ceiling, explore other benefits. Performance bonuses, equity options, flexible working arrangements, or enhanced pensions can add significant value.
For example, negotiating additional training budgets or study support could have a long-term impact on your career, while flexible hours might improve your work-life balance. Think holistically and be clear about what matters most to you.
Ready to take the next step in your career? Exchange Street connects finance professionals with the best opportunities. Contact us today to explore your options.