So you have excelled in the interview process and have received the job offer that you deserve, congrats! While the hard part may seem to be over, it is crucial to prepare yourself for salary negotiation, as it can greatly impact your overall satisfaction, especially in the long run.
To master the negotiation process and to get the most out of the proposal, take the following steps in consideration:
The base salary is just a part of the job offer, and you may not realize the accompanying benefits until you scrutinize the details. Insurance, relocation expenses, training grants, flexible hours, accommodation, and vacation days should all be taken into consideration. In addition, you should carefully evaluate the internal culture and potential career growth opportunities, especially if you about to make a shift to this industry.
Often, candidates make their initial request and then ask for more. However, it is recommended that you list all of your proposals in a single request and prioritize them according to their importance. This will avoid putting the person on the other side of the table in a difficult position, as they will need to advocate for you once again.
You are more likely to achieve some or all of your requests if you continue to present yourself in the best possible light. A traditional hard-nosed negotiator will only alienate the person they need the most support from, and discussions often end without a positive outcome. An ultimatum is a display of false strength and unnecessary in today's environment - you will either accept the terms or you will not.
Doing your own research on salary ranges for the desired position or domestic market should be included in your process. You can use research tools like salary.com to get a better unterstanding and to strengthen your position in the negotiation.
Remember, you are negotiating with a person, not just a company. At times, you may encounter an upper budget limit that cannot be exceeded, particularly when dealing with entry-level or some low to middle-management positions. The employer may also be hiring for multiple vacancies and may be unwilling to deviate from the norm. Alternatively, you may be negotiating with your future line manager, who will be more likely to support your request if your joining makes their own role more enjoyable!
In a weak market, the candidate has fewer options and less leverage, leaving the employer in a better position to dictate terms. However, the job market is complex, and there is still an opportunity to skillfully negotiate the terms and conditions of your employment.
Above all, to ensure long-term satisfaction, maintain a sense of perspective and ensure that you are joining a purpose-driven organization that is making meaningful change in the world and for those around you.