Negotiating your offer of employment - a short guide
So, you’ve got through a comprehensive interview process and are in receipt of your offer letter to say you’ve landed the job. Yay!
IF you ensured you were aware of the salary bandings during the process, then this should be aligned with your expectations. I would not hesitate in accepting this, demonstrating how happy you are and that you cannot wait to start employment.
BUT what do you do if the package offered is lower than expected?
So how do you negotiate?
The first response I would advise is to acknowledge the offer quickly and let the person know that you need a few days to consider this.
Some people say immediately send a counteroffer, but I think this lacks finesse. I prefer sending a holding email / communication, as this is a more measured way of approaching this.
In a few days I would arrange to talk with the relevant person about your offer, as opposed to sending an email demanding more money. After having shone in the interview process you don’t want to come across as greedy in an email which states pay me more £!
How do you structure your negotiation?
Part of understanding your worth as an employee must come from performing research on market rates and industry standards to find out what someone with your level of experience would be paid in a similar role.
A good place to start would be salary checking sites like glassdoor, Check-a-Salary, or payscale (relevant to your country).
I would also ask colleagues or friends in similar industry roles and utilise this information to back up why you are looking to negotiate.
Ensuring you are asking for an amount within an accepted range is crucial and without this you will be demanding more money blindly. Please DON’T do this.
By using irrefutable evidence an employer will be far more inclined to consider your request and seek to amend your offer or at the very least meet you some way to enhance the initial offer. Any additional money will need to be signed off and if you give the hiring manager / resourcing the evidence to support this, you will find yourself in a much better situation.
Also remember there are many other facets you can look to negotiate which aren’t simply of monetary value, that can impact on your professional development / well-being, which I will cover off later.
Explaining your worth
So, after being offered a role you can leverage this to an extent, as the company has found the solution to their problem., i.e. YOU :-)
Calling upon the research you have performed and reiterating how you more than meet the requirements of the role is key. Highlight qualifications that you may already have, skills that are unique, reiterate the fabulous recommendations you have, BUT…….
ALWAYS drive home that you are very excited about joining and the prospect of a successful and rewarding career with them.
How much £ do I ask for?
The old rule of thumb is always to ask for more money than you would accept, which is fine, but if you do this without research you may potentially outprice yourself.
I would also advise that you would be looking for a salary range of between £xx,xxx to £xx,xxx. That way you give the business some leeway to counteroffer without them feeling they are being held to ransom.
The last thing you want to hear is them saying sorry, but we can’t offer that figure. Again, you don’t want to lose the shine from your application.
REMEMBER companies don’t have limitless budgets which is why this MUST be really well thought out. Hiring managers have remits but if you are trying to exceed the normal range be ready to have to walk away from the offer.
What if they say no?
This is a situation that many will have faced and each has its very own unique set of circumstances. You could simply say thank you very much for your time but decline, always remaning professional OR you could accept the offer.
Be mindful of the job, location, salary, benefits and the REASONS you interviewed in the first place. Imagine yourself in role, having proven yourself and based on what you have seen thus far, could you achieve a pay increase in the not so distant future? Is there a career path that exists in this new role that you don’t have currently? Will this role give you a better work-life balance?
It is also crucial to understand that money cannot be the sole reason for moving role. For example, an extra £5k might seem great from the outset, but if the expectations are far greater than your current position this will soon wear off. I am hoping in any event that by this stage you will have already decided the company and industry is for you!
PLEASE PLEASE be VERY mindful at this point.
So what Non-Salary items could I ask for?
As I stated earlier in this blog, there are other things that you can negotiate that don’t relate to your salary.
These non-salary items can have a positive impact on your new employment and when asked for are less about ‘I want this money, or I won’t join’ and clearly telling your future employer ‘I am joining but to make my role even more appealing could you consider…..’
The list below are some of the main things you could ask for and include........
Office equipment to help you work from home
Stock or equity
Extra holiday entitlement
Compressed working hours
Enhanced maternity or paternity pay
Better commission rates for sales
Enhanced pension benefits
Professional development courses / certifications
Relocation expenses
Sign-on bonus
Parking / travel costs
The above list as I alluded to before, aren’t simply reasons to join based on salary alone and are a much more measured approach to any new employment.
The person that asks for the above in the eyes of an employer will come across as someone looking for a long-term move, not just a quick bump up in salary and for the business to be vested in them. This is a WIN-WIN for both parties.
I hope you found the above useful and that you are successful in securing a role that you LOVE.
Please also view my other blogs on CVs, redundancy and interviews, and as ever, if you need support with your career, please don’t hesitate to get in touch!
Commentaires