Are you searching for the answer to how to negotiate salary offer? Is it for promotion or your upcoming interview? Well, whether we’re starting a new job or trying for a promotion at our current one, don’t we all know that we are supposed to be negotiating the salary? Or do we?
Salary.com survey reveals that only 37% of people negotiate their salaries every time. However, an astonishing amount never does, which is 18%. Moreover, 44% of them claim that they have never brought up the salary raising subject during their yearly performance reviews. That’s the worst point!
What do you think is the biggest reason for not asking for more?
It’s FEAR. And we understand the fact that salary negotiation can be confusing sometimes. But guess what’s even scarier! Not doing it at all or even if you’re doing it, not doing it correctly.
So, it doesn’t matter if you’re a male or a female, whether it’s your first job or your sixth. It’s time to take it seriously and learn how to negotiate salary job offers. And don’t worry, we’re here to help you with a round-up of expert tips and further reading to get you prepped.
Table of Contents
13 Tips on How to Negotiate Salary Offer
Linda Babcock, the famous author of ‘Women Don’t Ask’, studied this matter. The study revealed that only around 7% of women attempted to negotiate their salary. At the same time, the men negotiator’s amount is about 57%. And, those who negotiated their first salary were able to increase their pay by over 7%.
Yeah, we know the amount is not much, but let see what Margaret A. Neale has to say on that. Margaret A. Neale is a negotiation professor from Stanford.
He says- ‘Suppose you get a $100,000 salary and your co-worker negotiates up to $107,000. And assuming you’re treated same from then on, with the same raises and promotions. It means you’d have to work eight years longer to be as wealthy as them at retirement.
Dealing with salary negotiation can make many of us very nervous. We think that we might end up accepting the first number offered without negotiating.
This method is a misconception since employers expect some negotiation in their hiring process. And they start the negotiation by offering a lower number than they can ultimately go.
So how to start negotiating a salary offer that reflects your worth? Follow these tricks to get ready before negotiating a salary during a job offer.
1. Know What Your Position Worth
If you want to get the pay you deserve, it’s mandatory to know the ongoing rate of your position in your industry. And also in your geographic area.
Author Ramit Sethi said that ‘suppose you walk into a salary negotiation room without a number in your mind. Then you’re at the mercy of an experienced hiring manager on the opposite side of the table. And he can control your worth as he may want.’
You can find out your position’s worth by doing an online search on sites such as Glassdoor. Or by asking others in that particular field. We recommend asking both men and women to avoid falling victim to the gender pay gap.
2. Know The Latest Industry Salary Trends
Try to enter into a negotiation as informed as possible. Information will be your only strongest ally there.
Consult any professional to get a current and realistic view of the compensation in your work field. In addition, you can search for a going rate for your position and experience level. A Salary Calculator is also available to adjust national figures for your geographic area.
Also, pay attention to the In-Demand Positions or Critical Roles sections of the Salary Guides in the UK. You can counter the job offer more boldly if you find that you’re in the running for one of today’s hottest jobs.
Sometimes a company might have difficulty finding staffing with enough skills or experience. And that can opens the door even wider for you to negotiate higher pay.
A survey by Robert Half showed that 44% of managers had made no changes to starting salaries. On the other hand, 28% have expanded them since the pandemic began.
3. Don't Underestimate The Power of Likeability
This tip might sound basic, but it’s crucial. People tend to fight for you or have you only if they like you or think you are fit for their company. So anything you do and don’t do in a negotiation that makes you less likeable decreases the chances of getting a good deal.
We are not only talking about being polite. It’s about controlling some necessary tensions in negotiation. Such as asking for the number you deserve without seeming greedy, selfish, or pointing out.
Negotiators can typically avoid these deadfalls by assessing. For example, by practising interviews with friends before the original discussion.
4. Ask A Chunk More Than Your Actual Demand
Candidates should always ask for more than what they actually want. Psychology says that bargainers will feel like they got a better deal if they negotiate down from the original ask. And it works despite the actual asked amount.
And don’t fear asking for much! What can the worst happen if you give a high number? The other party will counteroffer at the highest. But guess what the worst that can happen if you don’t negotiate! You’ll get what they want you to give, not what you want.
So worth the risk?
5. Explain Why You Deserve The Number You Are Asking For
After you receive the first salary offer, don’t just counter it with a higher number. Don’t jump on to find out how to negotiate salary offer. But before that, try to find out WHY to negotiate your salary offer. Even if your research supports you to do it, we will recommend you explain why you feel you deserve more. And then you will more likely succeed in the negotiation.
Highlight your strengths and expertise. Don’t forget to mention and highlight all the extras and bonus advantages the firm will get from you. Before negotiating, highlight how your skills and experiences will benefit your new company.
Don’t fail to mention certifications or specialized technical skills you might have. Having some certifications on extra skills will enhance your ability to do the job and increase your value from the rest.
You will make a solid case for why you should be paid more than the initial offer by tying your strengths to the role.
6. Be Honest With Your Negotiation
Having a hiring manager find out you faked a competing work offer is the worst. Or stretched your salaries from past jobs is the only better way to see your offer eliminated. So, be completely honest with your negotiation.
Honesty is paramount when negotiating salary.
7. Know The Person Across The Table
Companies won’t negotiate with you; people will. Before you try to convince the company, you must know and understand their psychology. Try to understand her/his position as well as what are her/his interests and individual concerns?
For example, negotiating with HR is very different from dealing with a prospective boss of the company. You can manage to pepper the latter with questions regarding offer details or your position. But who wants to annoy someone who might become your manager with little interest.
On the other hand, HR may be responsible for hiring twenty people and thus unwilling to break the pattern. Whereas the boss, who will profit directly from your entering the company, may go to bat for you with a unique offer.
8. Include Some Perks and Benefits
Salary negotiations frequently come with some give-and-take on attendant perks and benefits. Giving the employer extra holidays, flexible working hours, or a work-from-home schedule can be less costly than boosting the salary.
Your role in the interview table will be to figure out where they’re resilient and where they’re not. Suppose you’re negotiating with a large company that is hiring 20 people at a similar position at the same time. This company presumably won’t give you a greater salary than everyone else. However, it may be flexible on joining date, holiday time, and signing bonuses.
And suppose you are negotiating with a smaller company that has never hired anyone in your post. Now there may be some scope to set the beginning salary offer higher or a better job title.
The better you will understand the constraints, the more likely you will be able to find solutions that solve both sides’ dilemmas.
9. Focus on The Questioner's Intent Rather Than The Question
Imagine, some unexpected interviewer comes at you from a corner. Remember this: It’s not the question that should matter but the questioner’s intent. Try to understand what is the questioner’s hidden intention behind that question. Often the question is challenging to answer, but the questioner’s intent is harmless.
An employer may ask you whether you would or would not immediately accept an offer tomorrow may be trying to know if you are excited about the job. Rather than trying to box you into a corner.
Or perhaps, a question about whether you have other job offers currently may not intend to expose your weakness or anything. But to know what type of job search you’re conveying and whether they have a chance of getting you or not. Just because you don’t like the question, don’t expect the worst.
Instead, present your answer in a way that addresses what you think is the intent. Or you can ask for a simplification of the puzzle the interviewer is trying to fix. Both of you will be better off if you engage in an honest conversation about what he or she is after. Also, show some eagerness to assist him or her in resolving whatever issue he or she might have.
10. Know When to Wrap Up
Although, a sensible employer won’t drop an offer just because you negotiated. However, dragging out the salary negotiation too long can frustrate the hiring manager. Even if they agree and hire you, your relationship can start on a sour note, which we believe no one wants.
Suppose you understand that this company can not meet your salary requirements. Then retreat and focus on other possibilities that will match your expectations.
11. Keep Your Tone Positive, Not Pushy
We know negotiation can be scary, but you always should keep the conversation tone on a positive note.
You can kick off the conversation with something like-
“I’m very excited about the position and know that I’d be the right fit for the team. I’m also thrilled about your offer. And knowing that I’ll bring many benefits to the table based on my experience that we addressed during the interview. I wonder if we can explore a slightly higher starting salary of £40,000 (or anything your demand is). My market analysis pointed that as the industry average for this area. And I’m certain that this company will be delighted with how much I have to offer to the team and department.”
12. Stay At The Table
Remember: the negotiation table always turns. What seems not negotiable today may become negotiable tomorrow or the day after tomorrow. Because, over time, interests and restraints change. When someone says no, what he/she’s saying is “No—given how I see the fact TODAY.”
A month or two later, that same person or boss may be willing to do something for you that he wouldn’t do a month or two before. Whether it’s extending an offer deadline or increasing your salary.
Suppose your boss refuses your request to work from home on Fridays. That’s because maybe he has no flexibility on the issue on Fridays. Or probably you haven’t built up the trust yet required to make him feel suitable with that arrangement. Six months later, you will be in a much better position to influence your boss on that matter. And that you will work diligently even away from the office.
Always be willing to continue the communication. And also, encourage others to revisit unaddressed or unresolved issues.
13. Get The Final Deal in Writing
You and the hiring manager are done settling on the compensation package. Now don’t forget to ask them for written documentation. It is supposed to include any special offer. Offers such as a signing compensation or commission for moving expenses. And a job specification and a list of responsibilities for the new role. And of course the salary amount.
Make sure you and the employer both sign all the documents correctly. Some companies provide this as part of an employment contract. Don’t forget to request informal documentation.
23 Tips on How to Negotiate Salary Offer With Recruiter
Here are 23 best-proven tips for you to make you better negotiate your salary offer with the recruiter.
John Academy UK has some online courses on how to negotiate salary offers. Look at their Raise Negotiation Course and learn to be an expert in salary negotiation. It will enable you to learn a broad range of skills. It will contribute to your promotion and boost your confidence up.
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Phrases You Should Not Use in Salary Negotiation
Have you ever noticed that some particular phrases make people think the opposite we want them to think! In the salary negotiation table, you need to be mindful of not using such phrases. Below, we present you some:
Conclusion
The interview phase is not the only time people need to be persuasive in the workplace. Having strong communication skills is very important. And it is critical at every stage of your career. From Raise Negotiation Course, one can get career advice, job search tips, and workplace trends.
There is a never-ending process of knowing when it comes to jobs, and we know it can be puzzling at times. One can negotiate like a pro and still can lose out if the negotiation is the wrong one. So, ultimately, your satisfaction hinges less on getting the negotiation right and more on getting the job right.
Experience and research how your industry works, and your career track. Also, the boss and co-worker’s impacts can be more important to well-being than an offer.
This ‘How to Negotiate Salary Offer‘ guideline should help you along the way of your career to negotiate effectively. And get you the right pay you deserve. However, these guides should come into play only after a thoughtful, holistic job hunt. First, make sure it designed to ensure that the path you’re choosing will lead you where you want to go.
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