Receiving a job offer is exciting, but it also proceeds one of the most daunting parts of the hiring process: the salary negotiation. The compensation presented isn’t necessarily the most the employer is willing to offer, and without negotiation, candidates can accidentally leave a lot on the table.
Fortunately, mastering the art of salary negotiation isn’t as challenging as it initially seems.
Here Are Six Strategies You Can Use After You’ve Received A Job Offer:
1. Ask for Time
Many candidates assume that they must present a counteroffer immediately upon receiving a job offer, leaving them under a lot of pressure. In reality, it’s perfectly acceptable to ask for a bit of time to consider the offer as it’s presented.
Generally, requesting one or two business days to go over the information is appropriate, as it won’t slow the process down significantly while also providing you with a chance to think. When you make the ask, ensure that you thank the hiring manager for the offer, show your enthusiasm, and then express the request for additional time calmly and professionally. That demonstrates your ongoing interest before you ask for the time, which works in your favor.
2. Do the Research
When it comes to salary negotiations, information is typically the key to success. Before you prepare a counteroffer, spend some time looking up compensation rates in your area for similar positions. Job postings, salary-tracking websites, and similar resources can all help you gauge the going rate for your skillset in your specific region. Then, you can see if the job offer falls within local norms and prepare a counteroffer that doesn’t go beyond what’s typical in your area.
After conducting your research, you need to identify your preferred salary range. Identify the salary you’d like to target, as well as the minimum you’re willing to accept. Additionally, define the upper limit of what’s potentially plausible in your area, allowing you to assign a functional maximum.
3. Make a Comparison
Once you’ve identified your target salary range, you need to compare it to the compensation in the job offer. If the presented figure is close to industry norms in your area, your odds of successfully negotiating for an amount that meets your expectations are likely reasonably strong.
However, if there’s a significant disconnect between the offer and what’s typical in your region, the company may not be prepared to offer the compensation you’re after. While attempting to negotiate could still be worthwhile, it’s critical to remain realistic about the fact the company may balk at your counter, and that could make saying “no” the right choice if they can’t meet your needs.
4. Present the Right Figure
When you present a salary in the counteroffer, you want to select a figure near the top of the range you previously identified. Generally, the hiring manager will work to push the amount down a bit, so starting at the top increases the chances that the final salary will be close to your target.
Just make sure that the figure you present first isn’t outside of industry norms. Additionally, justify the request by discussing your research and highlighting how you can provide the company with value, as that ensures the salary you’re requesting doesn’t seem arbitrary.
5. Welcome Dialog
As you negotiate your salary, it’s better to treat the conversation as a dialog instead of a demand you want the company to meet. Being overly aggressive or positioning the request as an ultimatum won’t make a positive impression. Instead, show that you want to find a deal that works both for you and the hiring manager, and approach the discussion with that mindset.
6. Look Beyond Salary
In some cases, a company can’t offer a salary far beyond what was initially presented. However, they may be able to adjust various benefits and perks to increase the value of the total compensation package. Since that’s the case, it’s wise to consider what may meet your broader needs if higher pay isn’t possible. For example, more paid time off could be worth exploring.
Contact Us today!
Ultimately, negotiating a salary doesn’t have to be tricky, and the tips above can make it simpler. If you’d like to learn more or are seeking out new job opportunities, TekCom wants to hear from you. Contact us to speak with a member of our team and to learn more about our current openings today.
