How to Negotiate Salary After a Job Offer
As the saying goes, “fortune favors the bold”. A 2019 study by the Society for Human Resource Management found out that just 55% of job seekers in the USA negotiated their income. This broke down to 68% of males and 45% of females attempting to negotiate their earnings. The first step of course is trying, but it is also important you conduct the negotiating process correctly. Regardless if you are a newbie or a seasoned job seeker, in this article I will teach you how to negotiate salary after a job offer.
Before you even consider negotiating you have to figure out whether you have some kind of bargaining power. Usually, a strong bargaining position is held by individuals that are highly educated in the job they are applying for. Experience is also very important as there will always be some ‘tricks of the trade’ that they won’t teach you at university.
If you happen to not be highly educated in your chosen field or the job opportunity is low-skill then that is not a big issue. There is a chance that at the time you are applying there could be labor shortages. Thanks to this, even if you are applying for low-skill jobs such as working in a fast-food chain you will be able to have high bargaining capabilities. Although it is important to note, that in this situation it depends on the market environment. Therefore complementary education and experience are still highly recommended.
Of course, having the right qualifications, know-how, and a bit of luck are great. But there is no point if the companies you are applying to do not know about your high level of competence. This is why you need a high-quality resume that will grab the recruiter’s attention and allow them to easily recognize your suitability. I am a professional resume writer that can assist you in presenting clearly and concisely everything that you have to offer. Whether that is on a resume, cover letter, or even LinkedIn.🤓
When applying for a new job, it is maybe enticing for you to overexaggerate here and there.🤥 It is much more damaging to your prospective job offer if your employer finds out that you have lied. Rather than then finding out that you are currently lacking in some areas.
Employers do not just look for someone that is exceptionally qualified but are also looking for individuals that are willing to learn and improved. Honesty is also a very important trait to have. You do not need to go to university to behave honestly. Instead, it depends on how you believe it is acceptable to behave. Due to this, in the majority of cases, you can change your behavior. If you are looking to advance in your career, honesty is a must. It will show that you are a reliable employee that can be delegated more important tasks within the organization. Furthermore, transparency is critical in decision-making.
For any employer, increasing your base salary is a big compromise and a vote of confidence in you. Why would the company in question bother doing this if they are not even sure that you are interested in working for them? Few job seekers know that it is important to state your interest when negotiation a higher salary.
It is not good enough for you to simply state something along the lines of “Yeah I would like to work for you”, Although this is technically ‘stating your interest’, as you might have gathered it is not the right way to do it. To get straight to the point, you have to be more convincing! Explain why you are so interested in working there. Such as you are a big fan of how the company operates or that you feel they are the best fit for what you are looking for.
In some ways, it is good to be selfish. After all, to a certain extent, you have to think about what is best for you, focus on improving yourself, and ultimately ensuring your happiness. However, too much selfishness can be the anchor that stops you from advancing in your career. Business is not easy. You may walk into a large office with hundreds or more employees and feel that they can afford to pay you the salary you want. However, even the largest of businesses have to watch their margins.
There are many points of consideration that take place when considering an employee’s salary. For example, there may be multiple existing employees of the same role that are paid the same. How does the company substantiate your higher salary to the other employees and also to themselves? Furthermore, you have to consider that it is hard to evaluate a person just from their resume and multiple interviews. You may be the hardest worker and soak up information like a sponge. Some companies purposely evaluate their employees over the long-term to see which ones have what it takes for the better-paid senior positions.
What I wanted to highlight in this section is that usually there is much more at play than the company being greedy and not wanting to pay you what you want. It is good to discuss these points with your prospective employer in order to better understand the situation. As well as use it as an opportunity to look at alternatives. Such as a guaranteed wage increase after working for a set period of time.
How you go about things is always important. Regardless if you are trying to negotiate a salary increase or negotiating for the last slice of pizza. At the same time, you have to be yourself. Most of us do not have charisma on demand. A good start to being likable is simply being polite. This consists of simple actions such as saying ‘please’ and ‘thank you’. Furthermore, during a negotiation, you should avoid rolling your eyes or throwing a tantrum when things are not going your way.
In 1% of cases, you may be able to shout or blackmail your way into a salary increase. However, that is not good for your long-term progress. In all of the biggest companies, culture is important. Even if you tick all of the boxes if you behave in a way that is divisive then you will likely be deemed unfit for the job.
A good thing to do before trying to negotiate your salary is a bit of preparation. In your head, go through some of the potential tough-hitting questions that you may be asked. Alternatively, if you are lucky enough you can also ask a loved one to ask you a few potential questions. Moreover, do a bit of research online about industry-specific attributes.
It is also better that you do not try to memorize anything in order not to sound like a soulless robot. The point of this is to get a better understanding of potential worries that may exist. As well as being able to more adequately answer the queries in a confident and reassuring way. To expand on this, it is unlikely that you will be able to cover every question. That is fine, instead, focus on being relaxed and focused on during your best. The aim is not to be perfect, but to be able to give informed responses.
It may be a bit ironic, as this article is about ‘how to negotiate salary after a job offer’. But you should not focus just on how large your salary is. Instead, you have to be smart about this. Always thing in the long-term. In some cases, it is better to accept a lower salary job offer in return for being able to be put in a more senior position. Thus allowing you to learn more that will ultimately benefit your future job prospects.
Furthermore, it may be better to accept a salary that is not ideal when applying for a large corporation. In a large business, there will be frequent opportunities to advance and increase your pay package. The polar opposite to large businesses is startups. It is estimated that 75% of new businesses close down in the first 5 years. It is understandably risky, but if you feel that you have found a startup that could be the next big thing. Then it will be smarter for you to take a lower salary in return for getting shares that could set you for life.
It is ultimately about what you think is the best for you. Just keep in mind that a higher salary is not the only form of compensation that is worth considering. The first step to getting a job offer is your salary. If you want a killer resume, then don’t hesitate to get in touch.