How to Negotiate a Job Offer
In our article “How to Evaluate a Job Offer Package” we grazed the surface of job offer negotiation; now, buckle up for an in-depth exploration.
Okay, so you’ve received the job offer – yay! But the journey is far from over. It’s time to step onto the negotiation battlefield. Trust us when we say your future self will thank you for it. Plus, if you team up with a tried and tested agency like Kameo, they’ll handle a significant chunk of the negotiation heavy lifting for you. Ready to secure the terms you deserve? Let’s make it happen.
#Number One – KNOW YOUR WORTH
We touched on this last week, but research is imperative. What is the average salary for your role in your location? What are your skills, experience, and what value are you bringing to the table? Armed with this information, you’ll be better equipped to justify your desired remuneration.
Why does it matter? With this insight, you become a savvy negotiator – not just tossing out a number and crossing your fingers, but strategically justifying your desired remuneration. It’s not just about strengthening your bargaining power; it’s about declaring to your future employer that you’re a professional who knows their value and is geared to deliver undeniable excellence to the organisation. So, dive into your research – because in the negotiation arena, knowledge isn’t just power; it’s your secret weapon.
Those who can negotiate salary see a rise of over 7%! (The Muse, April 2023)
#Two – Timing is Key
Timing is crucial in negotiation. Express your job enthusiasm and gratitude upfront. Hold off on remuneration talks, letting the employer take the lead. This positions you as a team player prioritising fit before specifics.
Anchor high, then justify. Open with a figure slightly above your target using the psychological tactic of anchoring. Back it up with concrete examples of your achievements and unique value. This paves the way for a more favourable package… leading us nicely into…
#Three – Consider the Entire Package:
Look beyond the digits you’ve been offered. Dive into the realm of benefits, bonuses, stock options, and enticing perks. When the salary door seems a bit stubborn, venture into other avenues for improvement. A comprehensive package, laden with extras, frequently outshines a standalone higher salary, it’s not just about the salary; it’s about crafting a well-rounded job offer.
Things to consider:
- Annual leave – what’s the scoop on annual leave, does it rise with years of service?
- Do you get private medical or dental care? Are your family included too?
- Are there share options or bonuses you cannot refuse?
- Are they an investor in people? E.g., do you have an allowance for professional development?
- Is there an Employee Assistance Programme (EAP)?
- Is the pension statutory or enhanced?
- Other company perks – e.g., sabbaticals, gym members, well-being days and so on…
#Four: Be Prepared to Compromise:
Compromise is a powerful tool at the table of negotiation. Embrace compromise and delve into the employer’s viewpoint. Should they struggle to meet your salary expectations, pivot strategically. Explore alternative avenues like performance reviews, creating pathways for potential salary boosts or additional perks down the line. It’s not just about getting what you want; it’s about forging a dynamic agreement that fuels your growth and prosperity with your future employer.
#Five: Maintain Professionalism:
Never lose your professionalism throughout the negotiation process, no matter the outcome.
Your goal should be to continue building a positive working relationship, and your negotiation conduct broadcasts volumes about your communication finesse and emotional intelligence. It’s not a suggestion; it’s imperative if you want to secure negotiation success.
Negotiation is a mix of nuts, bolts, and a dash of thrill. Consider strategic prowess and sharp communication your golden tickets! And, just in case you’re craving more wisdom, see below for our parting gift – you’re welcome!
According to Psychology Today, if you’re aiming for a negotiation triumph, make it a Thursday. Why? Because, apparently, we’re all primed for compromise as the weekend vibes start kicking in. So, next time you’re cutting a deal, just remember, Thursdays are not just for throwbacks; they’re for throwing in a bit of negotiation magic! Happy wheelin’ and dealin’!
Are you ready to elevate your job search journey? Connect with our dedicated team today, they can’t wait to empower you through every stage of the process. Your success is our commitment. Start the next chapter of your career by clicking here.