When negotiating a job offer, many employees hesitate to keep their terms in front of the hiring manager. They don’t think that they have the power to negotiate. Candidates who are unsatisfied with their existing jobs, have a bad experience with their current organization, or are unemployed tend to negotiate less.
When finalizing a prospective candidate for a job, 70% of the managers expect negotiations. But they do not clearly state the given offer is open for discussion. For this reason, only 46% of the male and 34% of the female candidates are confident enough to negotiate.
Before joining, you should always discuss your job offer and come on mutually agreed terms. Never forget to talk about monetary and nonmonetary terms and also, contract duration. Monetary compensation is what your employer pays in the form of salary and bonuses. In contrast, the nonmonetary benefits are non-cash perks, including free trips, paid leaves, medical and insurance facilities, etc.
When negotiating a job offer, be prepared and do it with professionalism and gratitude.
Learn the art of negotiation in a job offer by following the top 5 dos and don’ts.
Before jumping right into the dos and don’ts of negotiating a job offer, let’s understand the core reason to negotiate!
Negotiation is a crucial way to advocate for your specialized skills and knowledge and get paid appropriately. It helps you feel confident in speaking up for yourself, assuring your usefulness to the company.
Discussing salary builds trust with an environment of transparency and openness. However, if you don’t negotiate and accept the job offer, the chance of remaining unsatisfied gets higher. In the long run, your overall productivity will diminish, leaving you hunting for other job opportunities and disloyal to your current employer.
Without further ado, let’s learn what to say when negotiating salary in a job offer through this job offer negotiation guide.
Here are the dos you should remember when negotiating a higher salary for a job offer:
When considering how much you can negotiate on a job offer, the first and foremost tactic is to create a relationship with the negotiator. Do your homework by researching the person on LinkedIn or the employer’s website. Analyze what motivates the other person, find common ground and start the discussion. Create some degree of empathy first with the negotiator to proceed.
When negotiating a job offer, identify your negotiable and nonnegotiable terms. Some non-negotiable terms can be salary, paid time off, or even health insurance. Therefore, establish a mind map of your personal and professional goals beforehand. Find the dealbreakers where no negotiation is possible. Stick with them and talk with the hiring manager.
98% of the prospective candidates start a negotiation by pushing or cornering, believing the hiring manager will shift. Unfortunately, that’s not how negotiating a job offer works. Start with emphasizing simple things, making you and the hiring manager feel valued. Once you have established an agreement, start negotiating a higher salary with a job offer.
The negotiator must believe you are worth a counteroffer. Instead of just starting with a 20% higher salary demand or other benefits, talk about the value you can bring to the organization. Do your market research and discuss the competitive salary range of said position. Discuss the competitor’s offer if you have it. Talk about how a counteroffer is an excellent idea and a win-win for both parties.
The best action is to make negotiating requests in a single do. If you constantly request new terms, the hiring manager will find you as an unprepared employee lacking professionalism and attention to detail. As per salary negotiating experts, divide the requests into soft and hard categories. Bonuses and salary are hard requests, while job title and vacation time are soft demands.
So far, we have understood what to say when negotiating salary in a job offer. Now let’s scrutinize what not to say!
When negotiating a job offer, many people talk about salaries and bonuses. But there is more than just salary! Some are monetary benefits, while others are nonmonetary perks. For instance, if there is no health insurance and you are paying from your pocket, is there a cash reimbursement facility? Or, do they allow remote working to keep a work-life balance? Prioritize your needs and wants beforehand and negotiate the overall compensation package.
Always build trust and remain authentic when considering how much you can negotiate on a job offer. Never try to exaggerate or straight-out lie, as the chances of getting caught are high. Strike a balance between underselling and overselling yourself, skills, and knowledge, and make sure that you are well prepared.
Research proves that 69% of the time, men are offered higher salaries than women for the same job. But we all know, no matter the gender, equal work means equal pay. If you are a woman, never hesitate to negotiate your job offer. Be well-prepared and negotiate hard to ensure that you are not being underpaid.
There is a fair chance of you having more than one job offer in your hands. The most common tactic candidates follow in negotiating is continuous bidding. They keep on discussing the new offers with every employer. The result is disastrous. Never start a bidding war if you have many job offers in your hand. It usually backfires!
No matter what is the outcome of your negotiations, always try to leave the conversation on a pleasant note and keep your professional relationship intact. Negotiations are to reach a win-win situation and not to push the person sitting on the other side under. Always thank them for the opportunity, and be sure to take some time before making your final decision.
Negotiating the job offer justified to your skills and knowledge is important and should be a skill taught to everyone. Once you are in the job market, study the compensations usually paid to evaluate the current job offer in your hands. Check out different online platforms and articles to get awareness before negotiating. The most popular sites where you can check salary ranges for different job roles are:
When you receive a job offer, check the benefits and compensation first instead of getting too excited. Always be prepared to negotiate the terms offered and do it professionally. Also, start thinking about how to advocate yourself for the new role.
At ConsulNet, we mentor graduates to find suitable employment opportunities in the local and international market while helping them learn the art of negotiating a job offer. Have a look at the variety of programs we offer at ConsulNet. For further queries, you can drop a message here.