Congratulations, you’re the chosen one! After a few rounds of interviews with other candidates, the company you’ve always wanted to work for has offered you the job.
But before you sign on the dotted line, it’s important to know that your new employer is prepared to negotiate your salary with you, and may be willing to offer far more money than you think…
So long as you’re prepared to negotiate too.
Now, if the idea of negotiating your salary makes you uncomfortable, you’re not alone. A recent survey of US employers showed that well over half of all new hires failed to negotiate for more money or better benefits; they simply accepted the first number offered.
Why? Well, two of the most common reasons new hires fail to negotiate a higher salary are discomfort with the process, and the view that they may be seen as ungrateful or pushy.
But employers don’t think you’re being pushy at all.
In fact, the very same survey of US employers noted above, found that three out of every four of them fully expect a salary negotiation, and many employers lowball their first offers to give them wiggle room in the negotiation process.[1]
How much wiggle room? Many companies will offer as much as 10-20% below what they’re really willing to pay you. This means that if you don’t negotiate your salary, no matter how uncomfortable it may be, you’re probably leaving a lot of money on the table.
Now, before we share a few tips that you can use to help you negotiate a better salary, you’ll first need to find the job you’re looking for.
FindYourJobNow.com has made finding a great job easier than ever before.
Simply go to FindYourJobNow.com and use the search bars to see the thousands of eager, high paying employers who are ready to hear from you today.
Remember, the vast majority of employers on FindYourJobNow.com, are expecting to negotiate a salary with you once you’re hired…
Here’s some tips to help get the most out of them:
1: know the industry and salary trends: Before entering any salary negotiations, you should have a firm grasp on what the job typically pays, what the salary increases generally are and what level of skills are needed to earn top dollar in the field. It’s also important to research this data as it pertains to the location of your new job. Each geographical area of the US will have somewhat different pay scales for the same position.
2: Know your value: Before accepting the first offer, you should know how valuable you are as compared to the other candidates who were not offered the job. This means you should prepare to expound on your skillset with strong examples of value. Salary negotiations will require you to “show” your new employer why you deserve more money than the initial offer. Show them.
3: Even before an offer is made, you should know what the minimum salary you’d accept would be. Like we said earlier, many employers will lowball a first offer. If it’s 20% below your “walk away” number, you should let them know immediately. If it’s in the ballpark, you should counter 15-20% or higher.
4: Don’t disclose your previous salary or your expected salary until you know what the employer is willing to pay. In the interview stage you’ll probably be asked what kind of salary you’re looking for. Avoid answering this at all costs. It won’t likely disqualify you from the position and will leave you with strong negotiation power. You’ll want them to make an offer first, rather than lowballing yourself.
5: Always counteroffer: Even if the offer you’ve received is very attractive, you should always counter it higher. Rule of thumb is, if you’re happy with the first offer, ask for 10% more, and expound on your value.
6: Send your counter via email so you have a paper trail: Once you’ve decided on what your counteroffer will be, send it to the employer electronically so you have a digital record of it. Of course, your email should include all the reasons for your counter, especially your value to the company. Should they accept, you should have them send the agreement to you in writing, via email, as well. Always keep a copy of the agreement, just in case.
7: Keep countering, but don’t drag it out: If the employer receives your initial counteroffer and counters back, it doesn’t mean that’s their final offer, unless they say so. This is your last chance to up your pay, even a bit. Now, you don’t want to drag the process out too long, as the employer may look elsewhere instead. So, unless you’re satisfied with their counteroffer, this should be your last counter. Keep it close to what they’ve offered you and lock it in!
Remember, most employers (75%) are expecting you to negotiate your salary; but more than half of new hires simply accept the first offer. By preparing yourself to negotiate, you can garner a 20% or better offer from them.
Of course, you need the job offer first.
Head over to FindYourJobNow.com to see which employers are hiring right now. You never know, your dream job could be just a click away…
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[1] More than half of job candidates won’t negotiate salary | HRD America (hcamag.com)