Negotiations are a part of job offer, more often than one might think. One thing to understand is that negotiations do not necessarily mean coming to an agreement about the salary offer. One has to take a look at other added factors as well before committing to taking up a job. The negotiations have to be done, not when one has begun working at the job, but way before, mostly at the time of the interview, so that there is no confusion on both sides at a later stage. In this article, one can see what to consider when negotiating a job offer.
1. First and Foremost to consider Salary:
No job offer is ever complete without negotiations about the salary. One thing to know before you begin the hunt for the job is how much is the salary that one can expect, based on their skill, experience and qualification. Have some knowledge of the market and make sure to fill in all the required details on the resume, so that one can begin the negotiations without any issues. Make sure to inform the prospective boss on what is the salary expectation and how much is the value of one’s talent and experience, so that the company does not offer lower salary.
2. When to Negotiate the Salary:
Ok, so one is happy with the job offer, role offered and such, but would now like to consider talking about salary expectations. When should one talk about the salary? One thing to remember is that it is better if one gets the face to face interview for the first time through. Once the company has a better idea what to expect if they hire the person, know his job skills and experience, chance is they would consider offering a better amount for salary. The candidate would also have a better chance to negotiate the salary after it. Begin the negotiations about salary, at the time that the call comes in for second round of interviews.
3. When to join in the new job:
Never jump at a job offer, however good it is. Do not give out the feeling that one is desperate. Try and get time to consider the offer. Think over the offer in leisure and then make the decision to join in the job or not. Have a look at all the aspects of the offer and its effect in the long run. Discuss with the HR manager or recruiter, on when they expect to hear back. This would give one a better idea on what to consider when negotiating a job offer.
4. Know about the company:
Before one signs on the dotted line or even commits to joining the company, one needs to have a thorough knowledge about the type of company it is. Make a thorough study of the job offer, the role or responsibility that one would be taking up within the company, the expected responsibilities from the candidate, scope for growing while at the job and many more other things before going in for the negotiations. One can try and talk to an employee or someone within the company to get inkling about the experience working with the company as well as on the atmosphere at work, the rapport with collegues and boss and many more.
5. See if the company goals tally with your future expectations and goals:
If one is to know what to consider when negotiating a job offer, it is best to take time and learn about the company. Get a thorough idea about the short term and long term goals of the company as well as the impact that it would have on the expectations and goals both personal and professional of the employee. Try to see if the job would be a good fit for the intellectual needs or even the professional goals and aspirations of the candidate. One would, at the same time have to consider if the job offer would in some way, impede the duty towards one’s family. Should have an idea on how to counterbalance both in the long run in the life.
6. Get to know the rival companies:
One would welcome any kind of leverage that one can expect to counter the job offer put forward by the company. For this, it always pays to know about the rival companies and have an idea of what they would be offering. Do a thorough market research on the competition, so to speak. Get details on the salary and benefits offered by the rival companies. See, how this could help one in countering the offer from the prospective company. Go on to use this information for ones benefit, while negotiating with the company on the job offer.
7. Always know the power that you hold:
Have the basic knowledge on what one’s strengths are before going into the negotiations about the job offer. See the cards that one holds. Make an effort to realize how much power one holds, while negotiating with the company. Know enough about one’s capabilities, experience, strengths and try to use it to counteract the job offer from the company, with better results. The reputation that one holds in the industry and market with regard to the capabilities, definitely comes in handy while making the counter offer. At the same time, not everything is in the favor of the candidate. There are some things that could go wrong. The main thing that could go against the candidate could be the fact, if in case, the company is looking to fill the job, as soon as possible. Another factor that goes against is if the company has predetermined pay for the position offered.
8. Opt for Benefits and Perks:
When one gets to realise that the negotiations on salary is going nowhere, it is better to opt for alternatives such as benefits or perks,which could be equally beneficial in the long run. Try to negotiate for better paid vacations or even get compensation for travels, other added benefits and so on. Learn and confirm if the company is ready to offer reimbursement or added allowance for housing. Have a thorough knowledge on the insurance facilities that the company is ready to offer and see if it covers just the employee or the family as a whole.
9. Get the offer in writing:
Once everything is worked out to both the parties mutual satisfaction get the details down on the paper and signed by both parties, so that no one can pull back from the commitment at a later date. Get both the company and candidate to agree upon the salary, other perks and benefits, in writing on the paper. Make sure to get the salary details and the offer in writing with proper information on the title to assume as well as proper break up of the salary with emphasis on the base and other added benefits.
10. Other points to consider while negotiating:
These are added points on what to consider when negotiating a job offer. Its not just the salary that counts in the long run. See if one can negotiate for better title, one example is of ‘corporate executive assistant’ as an alternative for just the ‘secretary’, this could help one later if looking for another job. It defintiey would be better if one could get reimbursement for travel, added allowance for house, a good dismissal package and more.One thing to make very sure, is that the job offer is a firm one, not some random statement.
How To Negotiate for a Job offer:
Most importantly, never go on to agree with the offer from the company, when it is low without even bargaining on it. When the pay is not as much as expected, raise would also be at snails pace. Another thing is that one should never commit to any amount for salary. Better to be vague and no committal leaving way for negotiations at a later date. Prepare well ahead with thorough knowledge on the market and rival companies prior to making negotiations with regard to the job offer. Make sure that you either accept or reject a job offer only after careful consideration rather than in a hurry. If negotiations for salary does not go through, one may also consider other factors, however make sure to not overload with too many demands at a time, as it could raise the risk of the employer and the counter offer may get rejected.