Congratulations on receiving the job offer that you have been eyeing for quite some time now! This just proves that you are worth the time and money that the hiring managers invested in making you a part of their company. Needless to say, it is time to pull up your socks to negotiate a higher salary. It may be actually easier than you think! And, nobody got turned down for politely asking for more money.
Here are some key points that might help you pocket more than the initial salary offered to you after a job offer or during a raise.
Point 1 – Keep a salary range in mind
The smartest move before initiating any negotiation is to estimate your market worth —that is the standard salary of a certain position for your skills and knowledge at the given location. Here location becomes important as costs of living may vary from one city to another. Once you have established your value in terms of salary, you would know the minimum pay that you can accept. Knowing this, you can negotiate or even turn down the offer if the salary is too less.
Point 2 – Wait for them to offer a number first
Getting a job offer means that the hiring managers have entrusted you with a claim and now they won’t pull out. Now, wait for them to bring up the numbers too. In this way, you’ll get a better scope to negotiate. Use diligence and patience to avoid divulging a figure first with responses like “I am expecting a reasonable offer that suits both of us.” or, “I want to first know what you’re thinking, so I can reply based on what I consider is reasonable.” These responses will surely get the managers to bring up an offer first and at the same time allow you to suitably avoid sending a signal that you merely want to work for money.
Point 3 – Another job offer can help get leverage
In a situation when you’re not pleased with the offer, take leverage of another job offer to convince the hiring manager to offer you more. Once they know that they might lose you, they would want you more and even place a higher value on you. So, it would be better to approach a few companies simultaneously to get an offer and then use that offer during negotiation with employers. You can throw a hint with a comment like, “Your organisation is my first choice, but another company made me a higher offer and I would hate to decline your offer just on account of money.”
Point 4 – Maintain friendly body language during negotiation
Initiating the negotiation with a thought that you will get the job and salary you desire will help you stay friendly during the process. This type of demeanour can help you steer the discussion towards a reasonable agreement. You can use your body language to reflect this attitude. Keep your palms open, smile often, and maintain eye contact during the discussion to convey your interest and reduce tension. Hopefully, you will work with these hiring managers in future too, so be pleasant and fair to stay in their good books.
Point 6 – Ask for more than just salary
Besides salary negotiation, there are several non-cash perks that can add value to your offer. These include stock options, company vehicle, healthcare plan, relocation costs, phone bills etc. so keep these perks on the negotiation table too.
Besides the money that you gain in the starting salary, the increased income will also influence your remuneration throughout your professional career. This can make a huge difference in your total earnings, provided you make an attempt to negotiate what you are worth.