Congratulations! You got the job offer, but now what? Getting the compensation package you deserve doesn’t have to be stressful with these 8 simple tips.
Express your gratitude for the job offer. Start things off in a positive way, and keep that attitude throughout the negotiation. This isn’t a battle. The goal is for both of you to benefit. You get a competitive salary and benefits package, and the company gets a satisfied and motivated team member.
Don’t be afraid to ask. You’ve received the job offer… but it was lower than you were expecting. The ball is in your court now. The worst thing you can do for your bottom line and future career growth is to settle. If you’re shy or nervous, plan out a strategy in advance and have a friend role-play the negotiation with you.
Be prepared. Research the average salary for your position in your area at a website such as Salary.com. Even if you don’t use that information during the negotiation, you will feel more confident that you are making a reasonable request.
Let them give you a number first. You may unknowingly lowball yourself if you give them a desired salary right out of the gate. Wait until they make you an offer. If you’re asked directly, tell them that you are open based on the overall benefits package. If pressed further, start at the top of your desired salary range. This way, there is room for negotiation if they are unable to meet it.
Consider the entire compensation package. If the pay isn’t quite what you were expecting but they don’t seem willing to budge, they may be able to offer you benefits in other areas. You can negotiate for more vacation days or to work from home for certain days of the week. Do they offer 401(k) matching and health insurance? What about tuition reimbursement or on-site child care? Take your time and really understand everything that is being offered.
Think about it from your employer’s point of view. Don’t tell them about the cost of your son’s braces, your mortgage payments, or your credit card balance. This may sound harsh, but those aren’t your employer’s problems. What can you offer that will solve the issues that the company has? How can you save them money, increase efficiency, or bring in more business? Remind them why your qualifications are so valuable, and convince them that the higher salary will be money well spent.
If you need more time to make the decision, ask for it. This is a big decision. Don’t rush into it because you are excited about the position or nervous about the job market. If the employer pressures you, firmly but kindly reiterate that you really want the position but you need to review your financial situation to make sure it is feasible to accept. Then, give them a time frame for when you will respond.
Once the employer meets your requests, negotiations are over. Don’t ask for more, or you could risk seeming inexperienced or greedy and losing the job offer. Thank them and ask for the offer in writing to ensure that you are both on the same page. If the employer refuses, be wary!
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