How to Negotiate a Job Offer

How to Negotiate a Job Offer

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How to Negotiate a Job Offer

Centuries ago the people used barter system by exchanging one good for another. Today, the civil millennial in 21st century trade their skill and time against need and money that an organisation has. One may like their place of work, may be super involved, obedient and happy with their boss there still is one major factor that actually influences their behaviour, and is the only factor that serves as a motivation that is their salary.

We have all known people quitting their jobs due to insufficient salary, in fact they say “Job satisfaction isn’t a sure thing here, I would rather pick bank balance satisfaction”.

Most of us have our tongued sealed on this aspect and once you join an organisation without negotiating the salary you will find yourself looking for another job in next two months.

So, let’s see how can we negotiate a Job Offer:

  1. Ask for their maximum cap- Ask them what are they offering for the role.
  2. Be realistic: Be realistic in your demand, you can’t demand a 100 % hike if you current or previous salary is already high.
  3. Do your homework well- Compare salary for similar roles in different organisations use salary trends and ask for a relevant hike.
  4. Acknowledge your worth-  Let the HR know that you know the value of your skills and your work ethics.
  5. Talk about alternate options that you have: Tell them about a particular company is offering you an x amount of hike and you expect a similar hike.
  6. Be firm: If your expectation is for example a realistic 30% hike do not start giving in/ giving up once they start giving you 26%
  7. Don’t be scared to walk away- If you do not get what you expect let it go if your research is right and you truly deserve you will get what you expect.Also, Most HRs start with a lower package to save on the extra cost.

Do’s and Don’ts to negotiate a salary

by Jacob Share

Do’s and Don’ts to negotiate a Job Offer

When the time comes, will you know how to negotiate a job offer for the best results? Whether you are new to job search or you think you have seen it all, proper wage negotiation tactics are essential to getting the job offer you are looking for and deserve.

Best practices to follow (plus five mistakes to avoid) the next time you discuss salary with potential employers.

5 back to negotiate a job offer

  1. Get ready with research

When you learn to negotiate a salary, understand this: you cannot get what you are worth if you know what you are worth. With the plethora of salary resources available online, just make a little effort to know your current market value and what recruiters are likely to offer.

Check your value using a salary calculator and research the salaries for your position in your area. Use other online resources, such as Angel-Jobs.com, for example, to search for past wages, trading strategies, and performance ratings of your potential employer.

Whether you know how to negotiate a salary or not, this research will help you better understand the market for your services and your value in this market, which will serve you well in all your interviews.

how to negotiate a job offer

  1. Focus on your value for the employer

When you learn to negotiate a salary, you often make a mistake in focusing on what you think you need or believe you deserve, as opposed to what your prospective employers need. It does not matter if you are on a salary to cover your mortgage, student loan payments, living expenses in general or anything else. They have a budget for the vacant position that limits their offer, so never tell the employer that you need a certain salary.

Instead of focusing on your needs, use your research to clearly show what a person with vast experience earns and emphasize your skills with respect to the needs of the employer.

The biggest mistake you can make is probably to decide in advance the first offer you receive. Research shows that young jobseekers and women often make this mistake, either because they cannot negotiate a salary, they lack self-confidence and do not like the bargaining process, either because they do not understand the potential impact of their decision.

  1. Be professional

Always stay professional. You may not like everything you hear, but keep an overview: when an employer makes an offer, he appreciates your application and you are a finalist. Even if negotiations break down or finally fail, thank the employer kindly for this opportunity and move on. Do not burn bridges; they may decide to increase their offer later.

  1. Consider other benefits

Many jobseekers reject job offers very quickly when the employer offers them a much lower salary than expected. Although rejecting the offer may be the right decision, you should nevertheless take the time to try to negotiate a better offer before rejecting it outright.

If the money is close to what you were hoping to win but you are not quite right, take a closer look. For example, some companies offer lower wages but have larger bonuses or stock options, or pay the full cost of health insurance.

Learn about all the benefits offered by the company, such as discounts on gym subscriptions and mobile phone refunds, as they can be of real value to you.

  1. Get final offers in writing

Once everything is said and done and you have received a job offer that you find acceptable, ask for it in writing. Why take the risk of changing something before signing a contract? This is an important step in learning how to negotiate a salary.

No legitimate employer will have problems with this step of the process. Therefore, if your potential new bosses refuse to respond to your request, consider that there is a serious problem. Skipping this step does not make you look like someone who knows how to negotiate a salary, it makes you seem inexperienced.

Don’ts to negotiate a job offer

  1. Do not skip trading

The biggest mistake you can make is probably to decide in advance the first offer you receive. Research shows that young jobseekers and women often make this mistake, either because they cannot negotiate a salary, they lack self-confidence and do not like the bargaining process, either because they do not understand the potential impact of their decision.

To be satisfied with a salary lower than that which you are worth can have major financial consequences, immediate and future. In the short term, you will earn less, receive smaller increases (because most increases are based on a percentage of your salary) and have a smaller pension (with pension contributions generally equal to a percentage of your salary) .

In the long run, being underpaid can give you resentment. Accepting a lowball offer may also hurt your earning potential later, as future employers may want to ask for a salary history to determine how much they should offer you.

  1. Do not accept a job offer too quickly

Too often, the interview process can take longer than expected and make you impatient. In 2015, it took an average of 52 days for companies to fill positions. When you finally get an offer after weeks (and in some cases, months) of research, it’s understandable that you want to accept it right away. However, even the best deals need to be examined with clarity – and without the pressure of your future boss or HR manager.

Always ask for time to review an offer and meet the agreed deadline for making your decision. If they request a decision within one week, all negotiations must take place within this period.

The ideal time to talk about salary is when you have the most weight, that is to say as soon as you receive the job offer. That’s when you can ask for more details on salary, bonuses, commissions, health insurance and other benefits.

  1. Do not reveal what you would accept

Information is the key to any type of bargaining, and the common mistake of job seekers is to tell the employer what they will accept. It can be difficult not to offer this information, especially if the employer is asking for a salary history. Some employers will also use preliminary interviews to find out what salary you are looking for.

The sooner you give up this type of information, the less space you have, if any, to negotiate a better offer later. Always try to stay as uncompromising as possible when you are informed of your salary requirements early in the interview process. Emphasize that if you are aiming for fair market value, you are flexible, but you will be able to react better later, once you have a more complete understanding of everything the job entails.

  1. Do not do a salary pitch too early in the process

Continue in the same vein as above: someone who knows how to negotiate a salary knows that the longer you wait, the more power you have. Yet many jobseekers jump the ball and start wage negotiations too early in the process.

The ideal time to talk about salary is when you have the most weight, that is to say as soon as you receive the job offer. That’s when you can ask for more details on salary, bonuses, commissions, health insurance and other benefits.

Asking earlier in the process may be perceived as overly focused on money rather than on the job itself, and it may also force you to reveal what you would be willing to accept.

  1. Do not ask too much in a contrary offer

This is not a good sign if you want to renegotiate everything in a job offer. If this is the case, you or your employer have misunderstood the situation or one of you is trying to take advantage of the other. Trying to change things your way is not likely to work in this scenario.

However, if the job and the employer are right for you, but the offer does not match what you were hoping for, offer a counter-offer that changes the biggest problems for you. If the salary is too low, focus on this aspect and use your market research to confirm that your claim is more in line with the market value.

If you know that the company does not want or can not negotiate the salary, focus on more and better benefits, such as extra vacation, sign-up bonus

This Post Has 3 Comments

  1. Nice Post

     
  2. Useful tips, nice article. Keep posting.

     

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