People often face this scenario in life when they’ve given their best during an interview process and convinced the company to offer them the job they’ve been eyeing for, but as soon as the hiring manager reveals the compensation to them, their feeling of excitement disappears. It is an undeniable fact that money matters and it is also your right to get paid as much as you deserve. Therefore, do not feel nervous or reluctant while negotiating your compensation and benefits. According to a Salary.com, while companies mostly build some negotiation room into their benefits packages, only 31% of respondents said they always negotiate salary after receiving a job. Avoid trying to negotiate during the interview. You’ll have more power and terms to negotiate after the employer has shortlisted you as the best candidate for their open position. Here’s how you can confidently negotiate your salary with success during any job interview with these salary negotiation tips.
Salary Negotiation Tips – How to negotiate a salary offer with a new job offer?
- Research – The only way to do well in any negotiation is to do your homework. Before you walk in for a job interview, it is always advisable to find out how much the job is worth and how much is your current market value so that you are well prepared for negotiating salary with your potential employer. In case the hiring manager asks you to give a number then you must be able to provide a salary range based on the research that you’ve done. Moreover, if a company’s recent performance has been impeccable in terms of record profits and breakout growth, then you must confidently ask for the higher end of your market value.
You can use online resources such as Glassdoor, PayScale or even LinkedIn to find out your employer’s historical salary levels, negotiation policies, and performance appraisals. If you know people in the industry who you’re comfortable asking about what to expect, go for it. Most companies do not post salaries in their job postings but if you have done your homework you will get proper control over negotiations from the outset.
- Be non-committal about salary history and expectations – Although in some states and cities asking a candidate’s salary history has been banned by the legislation, in some states it is still legal and many companies are now making policies to do away with it. However, if you’re still asked questions like “what is your salary history?” or “what was your salary in your previous position?” just give a vague reply, “I’d rather not discuss the previous salary. I’m excited about my future in this company and the job position is perhaps a part of that.” Or “I’ll be happy to discuss compensation details once I’ve learned more about the position.” Whatever you do, don’t give a range first. If you do, you’ll most likely be offered the low end of the range rather than the top end.
- Take your time – When the employer tables the first offer, you must respond with a pause. While it gives you time to think, it simultaneously puts the other person in pressure to explain the reason for offer or say something better. This reveals to you what is important to them so that you can focus on it. Remember, that once you’ve received the offer it is not necessary to accept it without a moment’s delay. A simple “I need to think over it” can get you an increase in the original offer.
- Be Persistent – It is important to remember that you’re not supposed to give up during a negotiation process. If they tell you that this is the maximum basic salary for the position, then turn the tables and ask for a sign-on bonus and an increment after six months instead of a year. Make their “no” into a “yes” but each time explain your reasons for a hike.
- Closing Tactics – Begin discussions in parallel when you have a wide variety of fronts to negotiate on; such as- salary, bonus, perks, benefits, etc. so that the employer gets a complete idea and won’t assume that you’re interested in only one thing. Remember to always start with a number higher than what you desire for so that you’ve space to concede later.
How to negotiate salary via e-mail (With Email Sample) –
If you have received a job offer, you shouldn’t send negotiation email right after receiving the job offer. That shows you’re more money oriented rather than skill oriented. Think twice about what they’re offering you and how to have to negotiate. Take some time and research about the employer, job profile, pay scale-from the base salary, to the benefits and incentives. Always keep your salary negotiation emails polite, professional and direct to the employer.
Salary Negotiation Email after Job Offer Sample
Dear Mr. Recruiter,
Thank you for offering me XYZ position. I’m excited about Company A and the contribution I can make here.
However, I would like to discuss compensation before I can accept the offer. While Company Z is my first choice, I have received other job offers that are offering me more compensation. In fact, the highest offer is $7000 more than the offer from here with four additional vacation days from Company Y.
I’m interested in Company Z and I would happily accept if you could match what the other company is offering. I understand that not everything can be accomplished, but I’m willing to be flexible and find a good solution for it. I’m confident that I can make valuable contributions to the company, and I hope we can come to a mutual agreement.
How to negotiate salary over the phone –
Even though you’re certain about the fact that you are going to accept the job offer but do negotiate once before joining the company.
- Choose a location that puts you to ease and make sure you find a quiet spot where no one else could disturb you or distract you so that you stay focused.
- If you’re receiving the call on your cell phone, keep it fully charged beforehand.
- Practice a mock negotiation process with your family or friends.
- Be persistent and firm.
- Do not give up easily.
- Keep your tone polite and speak professionally.
- Keep a pen and paper with you to make notes.
- Keep a note of points listed as to why you deserve higher pay an how skilled you are.
- Make a note why are you interested in joining the company.
Sample Negotiation over the Phone Conversation: The Muse
How to do Salary Negotiation with Counter Offer –
If you are not satisfied with the salary offer proposed to you, or if you think the salary offered to you is not what you expected, you can write back a counter offer letter. No all companies are open to consider a counter offer letter, some may not like the counter offer by you and revoke your job offer. So before sending a counter offer, do some research on their company.
Salary Negotiation Tips for Writing a Counter Offer Letter
- Do proper research about the employer, job profile, pay scale and the cost of living before sending the counter offer.
- Justify what you’re asking by citing industry and market standards, and most importantly, your skills and the value you will bring to the company.
- The letter should highly be focused on how you are a deserving candidate and fit for the position and worth the high salary that you have demanded from them.
- Before sending the letter, go through the letter and get it reviewed by an experienced friend or colleague or family member.
- You can also write a counter offer e-mail or letter.
- Ask for 10-25% more than what was offered to you. Generally, you must ask for more than what you actually make. This way the employer’s counteroffer, which will be between these two numbers, gets you right where you want to be.
Counter Offer Letter Email Format
Be direct and sincere in expressing your interest for the company. Thank the employer for the job offer and express how impressed you are or let them know about your views with the employer, work and team.
Be sure to reiterate how you will make an impact on the organization. Why you deserve the higher salary offer proposed by you.
Emphasize how much you look forward to accepting the job offer and joining the company. Express how grateful you are to them.
(End it with a salutation)
Max Troy is the Career Counsellor as well as a passionate Author. Well, he has years of experience in the Career and Jobs industry. As a part of his career at OPTnation, he helped various OPT and CPT candidates to shape their Career. Through his knowledge and writing skill, he is contributing to the students to find the best Career advice and immigration topics. Do share the information if you like it.