Maximizing Your Salary at EY: Insights from FSO Business Consulting Experts
Working at EY is a highly coveted opportunity for most finance and consulting professionals. Apart from offering diverse work opportunities and exposure to some of the biggest clients in the industry, EY also pays competitively. However, as with most organizations, there is always room to negotiate for a higher salary package. Here, we offer insights from FSO Business Consulting experts on how to maximize your salary at EY.
Understanding Your Worth
Before embarking on any salary negotiation, it’s crucial to understand your worth in the market. FSO business consultants advise that research is key to understanding your worth. Sites like Glassdoor offer insights into what other EY employees, on similar roles, are earning. You can also consult recruitment firms to understand the current market rates. This information will help you approach salary negotiations from an informed perspective.
Negotiating Your Salary
When negotiating your salary, there are two types of bargaining positions – an objective position or an aspirational position. An objective position bases negotiations on a predetermined range that both you and your employer agree upon – this could be based on your experience, skills, and qualifications. On the other hand, an aspirational position is one where you set your unrealistic salary expectations to get the highest possible salary package. EY experts advise that, in most cases, an objective approach is more successful and leads to realistic outcomes.
Good timing also plays a crucial role when negotiating a salary. Try to schedule a salary review when you have accomplished significant achievements or brought in a new client. Additionally, ask for mentoring opportunities that can help sharpen your skills and increase your value to the firm.
Increasing Your EY Salary
Another option to increase your salary is by seeking to be promoted. According to EY experts, acquiring new skills can help you stand out in the organization. With a little more knowledge, experience, and leadership responsibility, you can request promotion to a more senior job level with an increased salary package. Therefore, it’s essential to develop a career growth plan that outlines your skills and capabilities and the desired salary package for every job level.
Final Thoughts
Maximizing your salary at EY takes research, timing, a bit of courage, and a lot of persistence. Bear in mind that the success of your salary negotiation depends on your skills and experience and the year’s financial budget for the company. Therefore, the FSO Business Consulting experts advise that you stay informed and professional as you embark on any salary negotiation.
In conclusion, we’ve explored how to increase your salary package at EY. Understanding your worth, negotiating your salary, and seeking promotions are some of the key steps to maximize your salary. However, your success in achieving your desired salary outcome depends on your skills and experience, timing, and the company’s year-end financial budget.
