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Your resume was top-notch. Your cover letter, unforgettable. Your first interview was outdone only by your second. And now the company you’ve set your sights on is prepared to make an offer. Assuming you really do want the job, how do you go about getting the salary you deserve? You know it will be quite some time before you can ask for a raise, so this is your last chance at maximizing your paycheck. Follow these tips to fatten your bank account before you even set foot in a cubicle.
Go For More Than One
Easier said than done, sure. But far too many people put all their eggs into one prospective employer’s basket. Don’t let one promising interview stop you from pursuing more, if anything, it should have the opposite effect. Just think: the more job interviews you can land, the more familiar and confident you’ll feel about the process. You’ll increase your chance of receiving multiple offers. And with multiple offers, you’ll vastly improve your negotiating leverage.
Know What You Are Worth
You know you have to research, research, research the fair market value of your new job. But keep in mind that one of the primary sources of information is the company that made you the offer! Pay attention to all the data they’re giving you, especially the subtle hints. How badly do they need to fill the position? Did your interview reveal extra responsibilities you didn’t know about when you first began researching salaries? Acute awareness of the employer’s situation will inform and empower your salary negotiation.
Armed with detailed information about the job and the employer, you need to establish a realistic salary range. Avail yourself of as many resources as possible to get the most updated, comprehensive market value profile. Don’t just arrive at a number. Understand what factors determine a fair salary so you’re prepared to discuss the down-and-dirty details. Then prepare to keep your mouth shut.
The Key To Negotiation : Keep Your Ears Open
When you find yourself in the midst of a negotiation; poised and prepared, of course, there’s very little to be gained by saying much. This is important from the initial interview (don’t even think about quoting a dollar amount) but it’s even more critical after they offer you the job. Your information is power. Don’t give it away without using it to your advantage.
When you first hear the job offer, think about it. If it’s lower than expected, don’t panic. You need more information, not just more money. The employer has a reason behind their offer, so ask them for it . . . then listen! Remember to always get the information you’re looking for before responding. In this poker game, there’s nothing wrong with asking to see the company’s cards. When you need to, show them yours. Discuss the gap between their offer and your expectations.
If the offer is at or above what you had in mind, once again don’t panic. You should still ask for an explanation of the reasoning behind the offer. Listen closely and pay attention to any cues that may indicate the potential for more. But tread carefully. Your potential employer has likely done as much research as you have, so don’t pretend you expected a better offer if you didn’t. Still, you’d be surprised how persuasive silence can be. By thinking over every offer and every piece of data fed to you during negotiation, your thoughtful silence just may evoke a higher offer.
Keep Your Attitude In Check
Never forget that this negotiation should resemble a potential marriage, not a divorce. The ideal outcome of a job offer and salary negotiation isn’t just that killer annual income, you also want it to be the beginning of a healthy working relationship marked by mutual respect. You need not be defensive or cocky. Let the strength of your research, your track record, and your skills speak for themselves. Your strong negotiating skills should show your new employer they’re hiring someone with business savvy and strong interpersonal skills.
Again, a negotiation is your last and best opportunity to listen and think about the prospect of accepting a new job and a major life decision. Don’t let any frustration or disappointment show. And don’t be afraid to ask for more time to think it over. At the end of the process, you’ll have to live with the decision you make and the terms of the final agreement. Don’t rush it.
If you’re prepared, confident, and constantly using quality information to your advantage, you’ll be in the driver’s seat of a negotiation destined for success.
We hope you’ve found the advice helpful, and we’re interested in your feedback. What has helped or hurt you after the job offer was made? Any negotiation advice of your own? We’d love to hear your thoughts.
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Well said. I think one of the most important aspect of negotiating salary is knowing what you are worth. Some people value themselves too much and others underestimate. It’s a fine line but one needs to determine what they are worth.
How do you deal with the common practice of requiring interviewees to provide their current salary at some point in the hiring process–often by the first interview? Once that info is handed over, you lose much of the negotiating leverage you describe above. But, without sharing that info, you might not even get in the door.
Negotiation is something that we do almost everyday and it is not only used for business purposes. It is considered as a compromise to settle an argument or issue to benefit ourselves as much as possible. You have to consider that communication is the link that will be used to negotiate the issue or argument. Remember that negotiation could be face to face, in writing or on the telephone and it could involve not only two people but several members from two parties. With this you have to be prepared. You have to find out how much the job and you are worth. Start by being patient. Do your best not to bring up compensation until the employer do so. You should be clear of what you want, determine the salary range you want and be prepared to justify the increase. Make sure that you do your homework once you face your employer.
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Your resume was top-notch. Your cover letter, unforgettable. Your first interview was outdone only by your second. And now the company you’ve set your sights on is prepared to make an offer. good thinking about killer salary
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