Everything is negotiable. Your job offer, every performance review, all formal job settings are an opportunity to negotiate your salary, bonuses, benefits or other options and incentives that provide job satisfaction and financial security. With a little planning you can take control of the negotiations and create yourself a package that suits your needs.
The time to negotiate is between hearing you are successful in securing the job and accepting it, so it pays to do your homework before the initial offer and slip right into the driving seat when the negotiation starts.
Learn the Factors
The company will base their offer on a number of power factors – you need to learn them to be able to negotiate successfully. Consider the current economy and demand in the industry, what education and skills are needed, the profitability of the company, how long they have been established, how quickly they need to fill the position, estimate their budget, other opportunities this position may give you, availability of other candidates and the career risk in the job offer. The more you know about these factors, the more successful your negotiating will be.
Consider a Pause
Timing is really important. Make sure you are a clear about all the position has to offer and be enthusiastic, but ask for more time to consider. This is an important decision and the recruiter will expect you may need some time to investigate all the aspects of the package and how it will affect you. Do not be over eager or you will come across as desperate or unprofessional. The company will appreciate you making a calculated decision when you are in possession of all the facts.
Consider your Counter Offer
If the initial package you are offered needs negotiation, prepare to justify the reason for a new limit. Yours will not be the first counteroffer they have experienced, so remember that they have heard may reasons why something needs to change. Make sure yours is a strong and valid counter.
Use your research in your counter offer, especially the factors that deal with company size, revenue and demand. Smaller companies may be more flexible but tighter on budget than larger companies, and unionized positions have very little room for movement at all.
Always Look for a Win/Win Scenario
Do not go into the negotiation with the attitude that this will be a ‘me or him’ situation, or that you have to behave badly to get what you want. Always present any counter offer as a two way street where you will both walk out of the meeting with what you need. Effectively all you are doing is creating the terms for the final agreement, not going to war. Use your research and prepared justifications, but present them as a positive benefit to the company, then allow them the courtesy of a counter offer. Consider it and then answer honestly. You’ll soon come to an agreement.
By doing your homework, putting time into knowing your value and handling yourself with decorum and integrity, you can negotiate the package you want and build a bond with your employer that will leave a positive impression. They will leave the negotiating table feeling that they have the made the right decision and will look forward to working with you. Grab the opportunity to negotiate with your employer and create the win/win situation that starts you both off on a high note.