Many people are not comfortable with asking for more money once they have accepted a job offer. If the salary is decent, they do not want to hinder their new opportunity.
What if we told you that the most in-demand professionals can still seek competitive wages?
If you’d like to get a better starting salary offer, you have to ask for it! Job seekers too often accept the first number that's put on the table. But whether the economy is strong or uncertain, employers are eager to bring on team members with specialized skills and expertise that can help them the most.
If you are one that tends to stand out on resumes and specialized skills, you may be losing money if you chose to not negotiate the salary. After a recent survey, managers said they are more likely to negotiate a starting salary with new hires than they were a year ago. Homework, tact, and confidence are the keys to your success.
Regardless, you must always be prepared to start the salary discussion when accepting a new job because many hiring managers will give you the opportunity to think about the officer instead of expecting an immediate answer. Here are 8 tips to negotiate your salary at the job offer date:
1. DO familiarize yourself with industry salary trends.
You need to negotiate your salary while being as informed as possible. You can respond to the job offer more confidently if you find you’re in the running for a competitive job.
2. DON’T fail to build your case
Always explain why you feel you deserve higher pay. Be sure to mention your strengths, detailing all the ways the company would benefit from someone with your track record. Being certified or having specialized technical skills, for example, can enhance your ability to do the job. By highlighting your strengths to the job, you’ll make a solid case for why you should be paid more than the initial offer.
3. DON’T lie to receive more money
Be honest when negotiating a salary. You do not want your job repealed because the hiring agency found out you lied.
4. DO factor in perks and benefits
Salary negotiations often include some compromise on employee benefits. It may be worth the conversation of a bump in salary for the employer to give ground on extra vacation days, flexible hours, or, especially today, in light of COVID-19, a work-from-home schedule. Know what’s valuable to you and what would make an offer more attractive.
If you’re considering multiple offers, remember to compare insurance coverage, retirement savings plans, and other benefits to make an informed decision. Also factor in perks such as professional development opportunities with the potential employer.
5. DON’T wing it
It’s a good idea to ask a friend or mentor to practice with you the conversation you are likely to have with the hiring manager. The ideal partner is someone from the corporate world who can coach you on confidence and answering unexpected questions.
6. DO know when to wrap it up
A reasonable employer won’t withdraw an offer just because you tried to negotiate, however dragging out the salary negotiation can frustrate the hiring manager. If the company can’t meet your requirements after a few discussions, respectfully withdraw and focus on opportunities that better match your compensation expectations.
7. DON’T forget to get everything in writing
Once you and the hiring manager settle on a deal, ask for written documentation. This can be either formal or informal, you just want to have a record of it. Besides the salary amount, it should include any special arrangements such as a signing bonus or allowance for moving expenses and a job description and a list of responsibilities for your new role. Ensure the document is signed by both you and the employer.
8. DON’T make it only about you
Remember that most managers don’t love negotiating, either. Your future employer is not the bad guy. Keeping your tone positive when you’re negotiating salary and perks.
