A Negotiating Framework to Get What You Want
By Jeff Altman, The Big Game Hunter
Navigating salary negotiations can be daunting, but having a structured framework can empower job seekers to advocate for themselves effectively. Here. I’ll explore a five-step negotiation framework that can help you secure a better job offer.
Understanding the Components of Your Job Offer
The first step in the negotiation process is to understand the different components of your job offer. This includes not just your base salary but also bonuses, stock options, and other benefits. The goal is to get a clear picture of your total compensation package.
However, it’s essential to look beyond just the base salary. As you progress in your career, your compensation package can become more complex. You might find yourself receiving bonuses, equity, or signing bonuses, which all contribute to your overall earnings. Understanding these components can give you a stronger negotiating position.
Clarifying the Negotiation Context
It’s important to note that this stage of negotiation happens after you have received a job offer. At this point, you have the right to negotiate, and this is where you can leverage the offer to your advantage.
Completing Your Due Diligence
Once you understand the components of your offer, the next step is to conduct thorough due diligence. This means asking the right questions to gather information that can be used to bolster your negotiating position.
For example, you might ask about the absence of a signing bonus or inquire about the company’s 401(k) match. By gently probing these areas, you can gather valuable information and potentially uncover opportunities for negotiation.
Questions to Consider
- “Why is there no signing bonus included in this offer?”
- “Can you tell me more about the average bonus payout for this role?”
- “What is the rationale behind the current vacation policy?”
Asking these questions not only demonstrates your interest in the role but also sets the stage for your upcoming negotiation.
Researching Compensation Ranges
The third step in the negotiation framework is to research the compensation range for your role. Understanding the typical salary range for your position within the industry can empower your negotiation strategy.
Most companies will have a set salary range for each role, often with flexibility built into that range. By identifying where your offer falls within that range, you can better position your counteroffer.
Resources for Research
There are several public resources you can use to research salary ranges:
- Glassdoor
- Payscale
- Comparably
- Levels.fyi (especially useful for tech roles)
By cross-referencing several sources, you can get a clearer picture of what to expect and what to ask for during negotiations.
Crafting Your Counteroffer
Once you have done your research and understand your total compensation, it’s time to craft your counteroffer. This is where you formally present your request for increased compensation back to the recruiter.
Sending your counteroffer via email is often recommended. This allows you to control the tone of your message and provides a written record of your requests. If you feel comfortable, you can also negotiate over the phone, but be sure to follow up with an email to confirm the details discussed.
Tips for Presenting Your Counteroffer
- Be clear and concise in your requests.
- Use data from your research to justify your asks.
- Maintain a friendly and professional tone.
Handling Objections
After presenting your counteroffer, you may face objections from the recruiter. This is a common part of the negotiation process, and it’s important not to take “no” for an answer too quickly.
Recruiters may provide various excuses for not being able to meet your requests, but often these are just tactics to gauge your willingness to accept the original offer. Your goal should be to gently push back and encourage them to take your concerns back to the hiring team.
Common Objections to Expect
- “We feel we’ve made a competitive offer.”
- “This is the maximum salary we can offer.”
- “We have a strict salary structure.”
When faced with these objections, it’s crucial to remain calm and reiterate your value and the research you’ve conducted to back up your request.
Sending Additional Counteroffers
The final step in the framework is to send additional counteroffers if necessary. If the recruiter comes back with a lower offer than expected, it’s acceptable to propose a second counteroffer based on the data you’ve gathered.
Remember, it’s important to keep your requests reasonable and grounded in the research you’ve conducted. Typically, you may want to limit yourself to two counteroffers to avoid appearing overly aggressive.
Myths About Negotiation
Many job seekers hesitate to negotiate due to myths surrounding the process. One common myth is the fear that negotiating will lead to a rescinded offer.
However, as Brandon notes, it’s highly unlikely that a job offer will be pulled simply for negotiating. Companies want to hire the best talent, and they understand that negotiation is a standard part of the hiring process.
Other Common Myths Include:
- “I need multiple offers to negotiate.”
- “If I ask for more, they’ll think I’m greedy.”
- “Negotiation is only for senior positions.”
Understanding that negotiation is a normal part of the job offer process can help alleviate some of the anxiety associated with it.
Conclusion
Negotiating your job offer doesn’t have to be a daunting task. By following this five-step framework, you can approach the process with confidence and clarity. Remember to understand your offer, conduct due diligence, research compensation ranges, present your counteroffer, and handle objections skillfully. With the right preparation, you can secure a better compensation package that reflects your value and expertise.
Ⓒ The Big Game Hunter, Inc., Asheville, NC 2024
Overcoming Ageism in Your Job Search as an Experienced Professional
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
People hire Jeff Altman, The Big Game Hunter to provide No BS job search coaching and career advice globally because he makes job search
and succeeding in your career easier.
The Billion-Dollar Staffing Mistake
You will find great info and job search coaching to help with your job search at JobSearch.Community
Connect on LinkedIn: https://www.linkedin.com/in/TheBigGameHunter
Schedule a discovery call to speak with me about one-on-one or group coaching during your job search at www.TheBigGameHunter.us.
The Billion Dollar Mistake in Hiring Part II
He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with over 2900 episodes over 13+ years.
We grant permission for this post and others to be used on your website as long as a backlink is included to www.TheBigGameHunter.us and notice is provided that it is provided by Jeff Altman, The Big Game Hunter as an author or creator. Not acknowledging his work or providing a backlink to www.TheBigGameHunter.us makes you subject to a $1000 penalty which you proactively agree to pay. Please contact us to negotiate the use of our content as training data.
