Financial Controller Contract Negotiation

If you’re successful at securing an offer for a role as Financial Controller, you can start negotiating your contract. While it’s easy to focus on the salary of a Financial Controller, you should consider your package as a whole. Don’t overlook other factors, such as healthcare, pension, annual leave, potential bonuses, and the ability to work remotely.

Prepare to negotiate your Financial Controller contract by determining which additional benefits are most important for you. Which, if any, would you be willing to compromise on?

Once you’ve gotten through the interview stage and the company decides you’re the right Financial Controller for them, it’s time to start negotiating your contract. Just like your interview, preparation is key and don’t underestimate the importance of likability. If you’re still interviewing with multiple companies, you may want to keep your options open. Similarly, a company may be negotiating with more than one candidate for Financial Controller before signing a contract.

Here are our 4 tips on how to negotiate a Financial Controller contract:

1. Likability is Crucial

The key to successful contract negotiations is likability. Avoid doing anything that can lessen your liability or credibility with the company or hiring manager. The relationship you’ve built throughout the hiring process is crucial here. While negotiations are natural, you don’t want the other party to think you’re being greedy or petty. Always consider how the company might perceive your approach during negotiations.

2. Justify What You’re Negotiating

You must be able to justify why you’re deserving of what you’re asking for in your contract negotiations. If you’re shooting too high, it can tarnish your negotiations. Always be able to justify what you’re asking for, such as why you deserve a higher salary or how remote working one day a week could improve your performance. Data is helpful, or if you had similar terms on your previous contract.

3. Don’t Overplay Other Companies Being Interested

If you’ve interviewed with multiple companies, you may end up in the final stage or negotiating with more than one company. It’s tempting to say that your existing employer has a counteroffer or that another company has offered a better deal. While this can be a bargaining tool, you don’t want to overplay it, as it can easily backfire. You’ll especially want to be cautious of this if the company has other candidates they’re negotiating with.

4. Consider the Bigger Picture

Don’t lose sight of the bigger picture. A higher salary isn’t always everything, especially if you consider the tax implications. What benefits could make a positive impact on your life and improve your job satisfaction? Childcare benefits could end up being more financially beneficial than a higher salary and you might prioritise remote working to reduce commuting costs.

Consider salary negotiations separating from the rest of your contract. There are a few specific tips you want to keep in mind. It’s easy to get caught up on the number on the page, but don’t forget to consider your contract as a whole.

1. Be Honest About Your Current Salary

It might be tempting to lie about your current salary to negotiate a higher one for your new contract, but this dishonesty won’t get you far. After all, your new employer will be able to verify your previous salary when they review your P45.

2. Review The Full Compensation Package

Consider your salary in the context of your wider compensation package. Other benefits might be better suited for your situation and specific needs than a higher salary, such as a company car or having your commuting costs covered.

3. Be Ready for Tough Questions

You’ll always face hard questions when you’re negotiating a contract. These questions won’t just be about your salary. They may ask if you have other offers, how quickly you could accept, and whether their company is your first choice. It’s best to be truthful and upfront throughout your negotiations, including your timeline for potentially accepting the contract.

4. Think Long Term

The contract you sign when you become the company’s Financial Controller may change in the future. Think long-term and ask if there’s a possibility of renewing your contract in six months. You may be able to negotiate for more flexible working conditions.

FD Capital is the UK’s leading financial recruitment agency with an extensive talent pool of financial controllers, available to hire on a part-time, full-time, and interim basis, both in-house and remotely. Become part of our talent pool and take the next step in your career as a Financial Controller by contacting our team at recruitment@fdcapital.co.uk or 020 3287 9501 for a no-obligation consultation.

We are a senior finance recruitment boutique setup in 2018, we operate as a network of FC’s and recruitment professionals, matching the opportunities that come in with our team members. If are team are fully committed then we go to our database of excellent candidates or reach out to the market.

FD Capital Recruitment are a specialist FC recruitment and network, we have an active team of Financial Controllers available some for an immediate start, plus a large candidate database of people we have met and dealt with before. Our main office is in Great Portland Street London, with a satellite office in Shropshire that covers the Midlands. Trading since 2018 we have grown steadily and now have a near national coverage.

Formed in 2018 FD Capital Recruitment was founded with the objective of becoming a leading provider of Part-Time FCs our idea being to bring the skills and experience that finance directors have gained in larger corporates and plc’s and make them available to SME’s on fractional time basis. We have grown and grown and had our busiest year so far in 2020 with some of our team working six days per week.

We operate across the London and south east and West Midlands areas, our ambition is to grow the business to a national operation. Our team is made up of finance professional and experienced recruiters who between them have an extensive network of FCs and FDs with a strong database of companies we have connections within.

Call today to speak with one of our specialists who will offer guidance and advice on finding the ideal Portfolio Financial Controller for your business.

Have one of our specialists call you back to discuss your hiring needs.