By Carol Henger
I conduct a Job Readiness Assessment with each new client to determine their current skills for finding a job.
Universally, the lowest score is for negotiating a job offer. Clients often tell me, “I don’t know how to negotiate,” or “I just take what is offered.”
If you can relate to these responses, this article may change how you negotiate a future job offer. These are the tips I give all my clients because they consistently work:
Do all your homework up front
By the time you receive a job offer, you will be at the end of the interview process, which means you already know what the job pays in your job market (as well as what the company plans to offer) and will have already considered, is this the right job for me?
Never accept a job offer on the spot
You must get the offer in writing first. Likely, the offer will first be made verbally. You will be tempted to accept it immediately, especially if the salary is higher than anticipated. But don’t. Show enthusiasm and appreciation, i.e., “Thank you so much; this offer sounds great, and please email it to me along with the full compensation package, and I’ll respond within 24 (or 48) hours.”
Always read the full compensation package before accepting a job offer
Receiving a higher salary in an offer than you anticipated can cloud your judgment of the other out-of-pocket costs, which might reduce the offered net salary significantly. The most important part of the package to review is your out-of-pocket expenses, such as medical and dental premiums and deductibles.
Once you have analyzed the full compensation package (salary minus out-of-pocket expenses), you may want to request an increase in the salary if the offer doesn’t reflect what you had anticipated.
This is the point at which you start the negotiation process. The best way to negotiate is in writing using facts. Go back to your analysis of your out-of-pocket expenses and compare those expenses to your current or last job costs. Reply with a cost analysis and salary request; the company will likely take your request more seriously, especially if you back it up with data.
Request a one-time signing bonus.
If the company says “No” to your request to increase salary, even if you back it up with data, then ask for a signing bonus as a final attempt, even if it only happens once. Companies are more open to this option because it’s a one-time expense and is not carried out year-to-year.
I started seeing these negotiating methods when hiring talent for start-up companies in the Tech sector. Almost everyone asked me for a higher salary during negotiations. Eventually, I caught on. If talents didn’t have a solid reason (i.e., “This is less than I am currently earning, and I’ll show you proof”), I would ask them to put our offer next to their current salary and benefits and show me the gaps. Fifty percent of the time, I increased my salary.
Investing time and effort in preparing for negotiations before they begin is essential. This preparation helps you present your interests effectively and pays off in the long run. By planning ahead, you set yourself up for success and ensure your needs are prioritized during the negotiation process.
Carol Henger is a career coach at Ignite Career Center of JCS. Whether you are new to the job market or a seasoned professional, the Ignite Career Center, a program of Jewish Community Services, can help you go further and get there faster. Our highly experienced Career Coaches provide individuals of all backgrounds and abilities with the customized services and tools they need to stand out from the competition.
To learn more, visit ignitecareercenter.com or call 410-466-9200.
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