After weeks of emails, applications, and many interviews, you’ve finally been offered a new position. You’re ecstatic, and the temptation to accept their offer is strong, but you wonder if a better deal can be negotiated. You’re not sure how to approach the conversation, and you don’t want to jeopardize your new position.
As a new hire, it’s difficult to ask for a better offer, but if you don’t, you could be leaving money on the table. According to a recent survey, 36% of managers indicated they are more likely than a year ago to negotiate starting salaries with new workers, while 50% said they are just as likely. So, what’s the best course of action
In order to successfully negotiate a higher salary, an employer needs to believe that the candidate is definitely the person that they need and want as one coach,
As one career coach, Judy Bullimore, said, “They would have to essentially ‘buy into’ the combination of abilities, traits, and experience they can bring, to the point where the individual is deemed ‘worth’ the investment. As a result, I always advise people who are interviewing to have three things ready before they go in.”
Candidates must understand their “core offer” — the one-of-a-kind stamp that only they can put on the job. She explains, “It’s an amalgamation of their personality, abilities, expertise, and passion for the position.” “By having a compelling core offer, the employer will be able to see what they stand to gain by selecting one candidate over another.”
People must also be aware of their “expert” talents and experience make them the best candidate for the job.
Being genuine might help you come across as self-assured, which can help you when it comes time to ask for extra money.
“During the interview process, individuals with similar abilities and experience will be grouped together. “The key to demonstrating a candidate’s competitive advantage is for them to talk with great confidence and conviction about their specialist and expert areas,” says Bullimore. “This aids in the transformation of poor experiences into captivating, unforgettable ones, as well as the employer’s confidence in the candidate’s abilities.”
Finally, if the company has a personal connection with a candidate, they may be more ready to negotiate a higher wage. Being genuine might help you come across as self-assured, which can help you when it comes time to ask for extra money.
When should you start negotiating your salary?
It’s also critical to have the discussion at the right time. Formal s alary talks are usually held near the end of the interview process. Informally, they may discuss what you are looking for much earlier and start to test whether you will be flexible to a lesser amount at that time. Most don’t recognize this is negotiation. It is. Their goal is to hire you for the least amount and yours is to get the most.
Usually, these discussions occur early in the process before you have an opportunity to really understand the job and was requirements. Thus, it is important for you to hedge everything you say with terms like, “I haven’t met my future boss yet, the team will have an understanding about the scope of responsibilities associated with the job. Please don’t treat this answer as if it has been cast in stone. I may learn that this job may be worth more or less as time progresses.”
When an employer gets to the formal salary negotiation, they have already had an opportunity to completely evaluate and assess you. “This is to guarantee that the employer has had enough opportunity to grasp the candidate’s potential and impact if given the opportunity,” Bullimore explains. “Then I’d approach it with confidence, clarity of their competitive advantage, and clarity on how the criteria they’re proposing will benefit the employer,” she says.
Jane Ferré says, “I would always recommend that candidates have a ballpark figure for a post before they begin any selection process,” she says. “This will save both parties a lot of time if the compensation that an organization has budgeted is significantly off the candidate’s expectations.”
When you speak with a prospective employer, you are selling your abilities, expertise, and, eventually, your worth.
“During this time, you should have figured out why the organization is hiring. Is there anyone left? Is this a new position within the organization for which they lack the necessary skills? Are they gaining weight? Are they branching out? She asks, “Are you going into new markets?” “Remind the hiring manager of this during the negotiation and the value that your abilities will provide moving ahead if the answer is yes to any of the above.”
What should you do if they claim to not have any wiggle room?
Although a tiny, independent company may not have the resources to significantly increase your compensation, there may be alternative options. If a better salary isn’t an option, you could request more annual leave, more flexible working hours, or the opportunity to take a training course.
“A two-stage uplift was one of the suggestions I made to a client,” Ferré explains. “This entails requesting a little increase upfront and then obtaining consent on a larger sum that can be delivered six months after the start date if a set of objectives are met. This way, you demonstrate your worthwhile also assuring the firm that you are the right person for the job.”
Ⓒ The Big Game Hunter, Inc., Asheville, NC 2021
ABOUT JEFF ALTMAN, THE BIG GAME HUNTER
Jeff Altman, The Big Game Hunter is a coach who worked as a recruiter for what seems like one hundred years. His work involves career coaching, as well as executive job search coaching, job, and interview coaching. He is the host of “No BS Job Search Advice Radio,” the #1 podcast in iTunes for job search with more than 2100 episodes.
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