How to Respond to and Negotiate Your Job Offer

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Congratulations, you got the job offer!

How do you feel about what they are offering you? Did you know sometimes companies may be willing to negotiate the offer? According to CareerBuilder, approximately 73% of employers expect candidates to negotiate salary despite the fact that more than half choose not to. Just thinking about negotiating a job offer is enough to cause some people to run and hide. Most job seekers view it as the scariest part of the entire job search process. Don’t give in to fear. Take control of negotiating your best possible job offer with these tips.

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73% of job seekers feel that salary is the most important factor when considering a job offer.

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Remember job offers are not one-size-fits-all

First and foremost, it is important to remember negotiating a job offer is not the same as negotiating a salary. Your salary is just one component of job offer negotiations. For some individuals, salary is by far the most important thing. For others, a flexible work schedule might be equally important for someone trying to juggle family responsibilities.

Other factors you may want to consider in your negotiations apart from your base salary are:

• Tuition reimbursement • Vacation time • Insurance & retirement benefits • Your new job title

• Sign-on bonus • Flexibility in your work schedule • Relocation assistance • The ability to work from home

During these conversations, it is imperative to consider what is important to you. Once you have done that, prioritize one or two of these items during negotiations.

Know what your value is

Before you can begin negotiations, you need to conduct some research. Utilize sites like PayScale or Glassdoor to get data-driven insights of what others in your field are currently compensated and what type of benefits they receive. Knowledge is power—especially when it comes to salary negotiations. In addition to market research, before starting any negotiation conversations, it is critical that YOU understand your value. Think through your specific skills, technology expertise, certifications, industry experience, etc. What value can your skills and knowledge bring to an employer.

Don’t take negotiations personally

Your desired salary shouldn't be calculated by what you need to earn monthly to pay your bills. Of course, you want to make sure your living and personal expenses are covered. But, it's critical to understand that your salary is independent of your monthly expenses—it is a monetary value attached to your level of contribution to a company.

Factors that contribute to your salary include: • Years of experience • Industry knowledge • Proficiency with specific technology • Management expertise Failure to consider these factors will cause you to leave money on the table during offer negotiations. And who wants that?

Understand what the employer expects of you

You never want to put the cart before the horse. Make sure you understand all the details and components of your new role. Doing so will allow you to gain insight into the salary and benefits you deserve.

Here are some questions you can ask to get a better understanding of the job:

• What would I be directly responsible for in this role? • Is this a leadership position? • How will you measure my success in this role? • Will this job require me to travel? • How much exposure will I have to senior executives?

The answers to these questions may help you discover the responsibilities and overall scope of the role are more significant than you initially thought.

Though it doesn’t happen often, roles can change in scope during the interview process as the hiring manager speaks with candidates about their experience and capabilities. It is important to understand exactly what the employer expects of you in this new role so you can make an informed decision to accept, decline or negotiate the offer package. Sometimes the hiring manager may realize your skills are above and beyond the requirements in the job description. For example, you interview for a staff accountant role, but after the hiring manager learns you have management experience, they tell you that you will be supervising three associates. The role changes from a staff accountant position to a senior staff accountant position—and thus the salary should be higher given the additional responsibility.

How to master the art of the ask

Offer negotiations are challenging. Many people never receive formal negotiation training. Nonetheless, most job seekers don’t realize strategy goes into offer negotiations on both sides of the table.

Lead with the facts. Let them know why You're The Best Person For This Role.

Stay positive and confident throughout the entire process.

Pick the top of the salary range. It's hard to go back once you state a number.

Remember the following tips when negotiating a job offer:

• Lead with what you have done and what you can offer. Then, talk numbers. • Be positive and confident throughout the entire process. • Choose the top of the range because it is nearly impossible to increase an offer once you state your request. It is in your best interest to have a polite and professional conversation with your hiring manager to increase your odds of getting the offer you desire.

Should you accept a job offer immediately?

Before you sign on the dotted line, take time to ensure you understand the offer and the details listed in your offer letter. In most cases, it is considered a best practice to at least “sleep on it” and give your decision the following day. Before putting pen to paper, confirm you can answer “yes” to the following checklist items: • Do I understand my compensation package (including base pay, bonus potential, pay frequency, employer 401k match, etc.)? • Am I clear on the reporting structure (including leadership, direct reports or any dotted-line relationships, etc.)? • Do I understand the benefits package (including when I will be able to sign up for benefits, company contribution, etc.)? • Is my title finalized? After deciding on the offer and finalizing your onboarding requirements, your next step is to get ready to leave your present employer. Learn how to positively part ways with your current job and excel in your new role through the articles below.

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