Cover Letter for Banking Jobs
Good to see that you have cleared all the hurdles and reached to the stage of salary negotiation. How do I know? Because you would not have entered the keywords and reached to this page if you were not selected.
All right, now do not bask in the glory of your success. There is still one more step you have to walk before beginning your work–the salary negotiation step. This is the critical part of your selection. The need to negotiate the salary arises when the figure is not matching with your expectation. The employer should know why you deserve an increase in the salary.
This is the time when you should take the rein in your hand and try to pull it as per your will. This does not mean that you should dictate your terms left and right to the employer. You should be humble in putting forward your expected salary. Before delivering your talk, try to get information through some source about the salary paid to the person you would be replacing. Further, get informed on the salary the company is willing to pay for that position.
After your research, write a salary negotiation letter . Describe your intention of writing at the start of the letter. State why you need the job, and give one or two reasons in brief about being a perfect fit for the company. Tell them you value the job offer. Explain that your qualification and experience need a proper treatment by way of a higher compensation. The company should have the impression that you are serious and interested in the job, and it is not just the money you are all concerned about.
Provide an example that could measure your worthiness for a salary increase. Explain how you helped your current employer to increase its clientele through your innovative and unique promotional campaign. If you can support your statement with facts and figures, the employer would surely give a second thought about your proposal.
Try to maintain the tone of the letter humble and avoid sounding rude or overly–confident. This will damage the chances of employment. Make a request to review the offer and ask for an appointment to meet them personally.
This cover letter sample written for negotiating the salary will explain you better.
Salary Negotiation before Joining
Eddie P. Williams,
3643 Fairmont Avenue,
Amsterdam, MO 64723,
Date: October 7, 2011.
Mr. Miguel C. Glaze,
All Purpose Bank,
161 Lindale Avenue,
Amsterdam, MO 64720.
Dear Mr. Glaze,
It is a great feeling to get selected for the position of a loan officer in one of the state's reputed banks. I was waiting for the opportunity to work in your bank ever since I came to know about your vision statement, which is "Loans for one and all." Your vision has helped lots of budding entrepreneurs from this city to fulfill their dreams of starting their own business. I sincerely value all the pain you have taken in screening me for the position.
However, I feel the salary offered for the position is not at par with my expectation. In my four years of experience as a loan officer in ABC Bank, I have worked as per the direction of my seniors and helped the bank in attracting customers towards the loan schemes of the bank. I am very good at investigating clients' history before issuing them loans. I have built a network that is helping me in getting clients' information.
I have even helped my bank to recover bad debts that were long pending and were disbursed before my joining. I have a unique style of recovering debts from clients, which I will use it for your bank. Since every bank has to face this type of situations, I can save lots of money for your bank. This is something no other candidate can contribute for your bank.
In return, I would request you to accept my appeal to increase the offered annual salary from $40,000/– to $56,000/–. Please give me your date and time of meeting to discuss this salary issue. Till then, thank you for reading this letter.
Eddie P. Williams,
First, appreciate the reader for selecting you for the job. When reading your letter for reviewing the compensation package, the reader should not feel that you are more interested in your own benefits. Instead, add some of the benefits you can bring for the bank. This may work in your favor, and the bank can comply with your demand.