Your career satisfaction is impacted by your ability to negotiate the right job offer and compensation package. In this video, Barb Bruno shares guidelines that will help you negotiate effectively, so you get the offer you deserve and the job that will take your career where you want it to go.
- You've been through the interviews, and an offer has been extended. Now it's time to negotiate. Throughout your negotiations, keep in mind what specific areas are most important to your career. Your career satisfaction is impacted by your ability to negotiate the right job offer and compensation package. Let me give you some guidelines that will help you negotiate effectively, so you get the offer you deserve and the job that will take your career where you want it to go.
Once you quote a salary that you'll accept, whether in person or on an application form, you'll never be offered more. And remember, there will be give and take in the process, so you must be willing to make some concessions. Let's start with the basics. Being likeable greatly impacts negotiating. Hiring managers are more likely to fight for you if they like you. Ask for what you want without coming across as greedy or reasonable.
Be persistent without seeming aggressive. Make sure the hiring manager understands why you're worth the increased salary. Don't just ask them to increase the offer by 10%, tell a story that justifies your request. Highlight your accomplishments and the impact you've had on your past employers. Give specific examples of the value you bring to the table, and stress your high level of interest in working for their company and your confidence in your ability to do the job.
We represented an engineer who had three offers on the table. When our client extended an offer, the engineer talked about his other two offers, which were higher. The employer felt it was an uphill battle, so they didn't negotiate. Our candidate forgot to balance out the conversation by stressing his high interest level. The job and the company were his first choice, but he never told them exactly what would have made him accept their job. As a result, he didn't get the job he wanted.
Keep in mind that when you negotiate, you're negotiating with a person, not a company. Make sure the hiring manager realizes the benefits of hiring you, and they may be more inclined to negotiate. However, if your potential employer likes you and feels you deserve the job that you're requesting, they may have constraints. Large companies who are hiring several people with your experience must often stay within a specific salary range.
In this situation, you may be able to negotiate a signing bonus or additional vacation time. If you are interviewing with a smaller company who has never hired someone with your experience, you may be able to negotiate a higher salary. Be prepared to answer difficult questions during the negotiation process. You may be asked what offer you'll accept without hesitation. In addition to quoting an amount, be ready to stress how you can solve the problems currently being faced by this hiring manager.
Remember to negotiate the entire job offer, not just your salary and benefits. Take into consideration other priorities, which could include opportunity for growth and new responsibilities, support for additional education, flexible hours and work-life balance, location, travel, and work environment. And pay attention to the timing. Most companies have a target date to hire and expect a quick response when an offer is extended.
This is their first impression of your decision-making ability, so your negotiating process must begin immediately. Remember that negotiating your offer is a marathon, not a sprint. Engage your potential employer on every level. Stay polite, enthusiastic, and keep stressing the benefit of hiring you. Be willing to make some concessions, and in the end, you'll receive a job offer you can accept without hesitation.
- Negotiating your offer
- Understanding the compensation schedule
- Assessing the timing of reviews and salary increases
- Reviewing the benefits package
- Understanding the value of perks