How to Negotiate A Salary After A Job Offer?

Money is the most sensitive issue in a hiring process. Discussing compensation often causes anxiety on both the employee and employer. Knowing when and how to ask for what you deserve, when offered a job is a skill that most people lack. Here are some helpful tips on how you can negotiate a salary in your interest.

1. Research:  Before the interview process begins, you should have an idea of how much the salary for the job you applied for is. Research and gather information on the position and familiarize yourself with industry salary trends. Platforms like LinkedIn, Glassdoor and PayScale are great places to look. You can search for salary information based on your location, job title, and your job industry.
2. Know what you bring to the table: If you are asking for a salary raise, it means you have the skills and industry knowledge to match. Prove to the hiring manager why you are the ideal candidate for the job and why you deserve a better package. Let them know what you have to offer to their company and why you deserve more.
3. Avoid Discussing your current salary: In stating your salary range, avoid basing your desired salary on your current salary. Always request for at least 5% more of your desired salary. If they fail to give you what you asked for, you will still be able to stay in your desired salary range.
4. Weigh the company’s compensation package: To determine your fair market value for a specific job, you should not only look at the annual salary, but the benefit packages as well. Before you make a decision, Weigh the benefits of the job including: Insurance packages, paid time off’s, and retirement settlements to ensure a fair proposed salary.
5. Have a positive mindset: In negotiating, never compete. Negotiation is basically a process which could benefit both parties. Understand your needs and those of the company, and only ask for what you deserve according to your skill set.
6. The final offer: Be aware when the negotiation process is done. Pushing further when a deal has been set could backfire, and you may end up losing the job offer to someone else.
7. Don’t get lazy on the job: Always remember that the pre-hire process is only the beginning. If you want to continue to receive what you are worth, put in as much work (if not more) as your competitors. This is how you will be remembered for future promotions and compensations.

Based on a survey conducted by Robert Half, thirty-six percent of the managers surveyed said they are willing to negotiate starting salaries with new hires. Understanding these basic tips and fully preparing yourself will allow you to enhance the terms of your new job. You may be leaving money on the table if you fail to negotiate.