3 ways to negotiate a new job offer
Congratulations on your job offer! Now, there are two things you need to do with your potential new employer:
1. Tell them how excited you are about the opportunity. 2. Negotiate.
According to a Ziprecruiter survey, 64% of job seekers accepted the opening salary offer they received the last time they started at a new company. But since employers often expect that new hires might negotiate, their first offer is usually lower than what they are willing to pay. Here’s the secret: Many job candidates could get substantially more.
The mere mention of the word “negotiation” can make some people nervous, so here are three different approaches you can take to make a counteroffer with confidence:
1. The Name-yourprice Approach
This one is pretty straightforward: Just ask for the salary you want. Simply say something along the lines of, “If you can do
[your salary request], we have a deal.” When strategizing the right number, add on a 10% buffer since there is a good chance the company will offer a lower amount. Employers like certainty and are more likely to consider your request if you make it clear that you will sign if they agree.
2. The One-smallproblem Approach
With this method, identify one item you would like to negotiate. It can be more salary so you can pay for day care, more vacation time to visit relatives or flexible work hours so you can attend a child’s school events. After spending a day with your offer, reach back out and say, “This company is definitely my first choice, and I’m determined to make it work. I have one small problem I need to solve before I can accept.” Follow with your one ask and a simple explanation as to why it would help you make the decision.
3. The Multipleoffers Approach
This one is a lucky position to be in. If you have received multiple offers and think you would be happy in any of the positions, you have more leverage. The companies you are speaking with have already decided they want you, so be honest about the fact that you are considering other offers. The company that wants you most may turn around and offer you more.
Negotiating can be uncomfortable, but if you approach it correctly, a few minutes of discomfort can have a big payoff. Think of it this way: If you negotiate an extra $5,000 per year and stay at the job for four years, you’ve just made an extra $20,000 — and that’s before any potential salary increases.
$20k is probably worth a few minutes of awkwardness.