Let’s face it, the conversation of salary negotiation can be a tricky one. For many people, the idea of negotiating pay with a company is stressful and uncomfortable, leading many to miss out on extra benefits that they could’ve obtained.
The truth is that it’s is an incredibly common tactic, and the potential employer will not have an issue going over the job offer with you. Good companies understand the necessity for negotiation, and will happily listen to you if you’re prepared and reasonable. In fact, about 70 percent of employers expect their job offers to be negotiated.
Our recruiting agency has spent years training workers on how to leverage the best offer, and these tactics have proven to be the most effective.
1. Look into benefits beyond the paycheck.
Too many people focus on the salary, when there is so much opportunity for benefits right under their noses. Don’t be afraid to ask the company about sign-on bonuses, healthcare expenses, relocation bonuses, and ownership in stock are all parts of the offer that you need to consider.
2. Be able to elaborate on why you deserve a better offer.
If you believe you can do better than the first offer that’s given to you, you’ll need to be prepared to answer why. As previously stated, most employers are expecting you to want to negotiate, so they’ll be ready to discuss their reasoning. When answering the question, “Why do you feel like you deserve a better offer?” you need to think about the following:
Results you’ve achieved in previous roles, goals you’ve met, etc.
Your years of experience in the industry you’re interviewing for
Skills or certifications
Average salaries being offered by similar employers for similar roles
The last bullet point will require some market research, if you haven’t done this already. Understanding the market in your industry is crucial in leveraging a better job offer, so be sure to pay extra attention to this.
3. Share job-related expenses with your potential employer.
Is the job a distance from your house? Will you have to relocate? Will you have to sell your home? These are all things that can help your employer have a better understanding of your situation. If there are several financial obstacles related to the job, the company will be happy to discuss a larger offer the vast majority of the time.
4. Be flexible.
If the company can’t offer a larger salary, then be prepared to increase the value of the offer in other ways. Inquire about extra vacation days, additional work-from-home days, or stock options to help bolster the overall offer. Sometimes, these other perks can be more valuable than a larger offer itself.
5. Tailor your strategy to the needs of the company.
At the end of the day, companies mostly care about how you are going to help them achieve their goals. When you’re vying for a larger salary or more benefits, lead with ways your expertise and previous results will help them succeed. Spend some time learning about their desires and characteristics as a business. The sooner you can understand how they operate and what they want to achieve, the better your offer is going to be.
Companies have a pay range for the positions that they offer, so if you believe you have a strong case for getting a better salary, find out what that pay range is and see if you can leverage the higher end of that range.
We recently did a previous blog that talks about salary negotiation tips that aren’t talked about in this blog. Click here to continue reading.
Carter Recruiting and Associates is one of the largest independent recruiting and outplacement companies in Arkansas. Our headquarters, located in Little Rock and our satellite office in Conway, both service accounts nationwide. We have satisfied clients and references from some of the largest companies in the state. With over 50 collective years of experience in the recruiting business, we have a vast amount of resources and knowledge to ensure a job well done.
Cherie is the owner and president of Carter Recruiting and Associates. She holds a BA in psychology from the University of Mississippi and has over 30 years of experience in the recruitment of executive and manufacturing professionals. Cherie’s work has been instrumental for new plant start-ups, as well as building and maintaining relationships throughout the region and state of Arkansas. She is a member of the National Association of Female Executives and the National Association of Women Business Owners.