Are you contemplating whether to negotiate your job offer or not? This is a common decision among many candidates. As a recruiter, I never look differently at candidates for negotiating. It's more common to negotiate than you think.
Candidates may fear asking for a higher compensation package for many reasons. The top concerns I have heard from candidates are -
My employer will rescind my offer letter.
I may hurt my relationship with my manager.
I don't want to look greedy or unappreciative of the current offer.
I don't know how to negotiate.
All of these concerns are completely understandable. It is in your best interest to overcome these fears and negotiate. I have never heard of an offer being rescinded from a candidate who humbly asks to negotiate their offer. In fact, Salary.com found 84% of employers expect job applicants to negotiate their offer! The worst the company can say to you is no but at least you tried. Your first compensation package sets the tone for the rest of your career. You may be harder on yourself later on for not asking for a higher compensation when you had the opportunity to.
If you don't know how to negotiate. That's okay! Follow these 3 steps before negotiating with your employer.
It's important to know what someone with your experience is making for the role you have an offer for. When doing research take into consideration the location, job title, industry, and your experience level. Compensation can be different per role and location due to the cost of living.
There are many websites that calculate what you should be making or you can search the compensation for the role. My top three sites for you to use are Glassdoor's Know Your Worth, LinkedIN Salary, and Payscale. These sites give you a recommendation on what you should be paid as well as a low to high range.
2. Draft your proposal
The most common areas in an offer to negotiate are the salary, stock and bonus. Other areas that might be negotiable are relocation, tuition reimbursement, vacation, and other benefits. When you draft your proposal you should evaluate which areas are most beneficial to you and what areas you are flexible on. Think of the relevant experience you have, your ideal compensation package, and any financial constraints you have. Lastly make sure you leverage any competing offers you have in hand.
It's important to practice your delivery before you speak to your employer. You want to sound confident, humble, and enthusiastic about the role and company. Practicing the talking points prior will also make you more comfortable and less nervous when speaking to your employer.
Do not sell yourself short! Each company is different but asking to negotiate is not looked down upon. It is so important to be paid fairly. Be gracias, confident and leverage all the research you have. Good luck!