Negotiating Counter Offers
You have made it through the interview and are almost to the end of the hiring process, but now the hard part begins, negotiating your salary. Whether or not an employer is willing to negotiate is not as important as you being pleased with their offer. If you are happy with the salary then take the offer, and get started on your new job. However, if you are not happy with the compensation then do not be afraid to consider the following guidelines to help you negotiate.
Do your research
Do not make a decision on your desired salary without doing research to determine your market value. Use our salary calculator and if applicable our relocation calculator to aid you in evaluating cost of living differences. You can also talk to colleagues and recruiters for their insight. Other items to consider could be: how the position fits into your long-term career interests, vesting of any retirement plan or stock that could be lost, vacation time that can be lost, features and costs of your current benefits versus the new plan.
Know your value
Know the value of your skills and experience in the current marketplace, as well as the hiring conditions for this role (ie. do you bring new skills, criticality of the role, scope of the role, volume of applicants, etc.) Do not be afraid to outline this to your potential employer, clearly vocalizing what you believe you are worth to the company.
It is important to look at factors that may affect your salary, such as the economy, industry trends, and the compensation other potential candidates may be requesting. All these factors should be considered when negotiating.
When communicating with your future employer about salary keep your interactions positive. Don’t forget to be grateful for the offer, even if the offer is not what you had hoped. Don’t be afraid to ask for a little time to consider the offer.
You can decline
If you are not comfortable with the offer you reserve the right decline, but make sure you do so in a way that leaves the door open. Many bridges have been burned from bullish negotiating and failure to politely decline an offer.