It is rare that employers put their best offer first, those who negotiate salary would stand a higher chance of earning more than those who don’t. Some of your prospective employers expect the candidates to negotiate and extend a counteroffer. Below are some helpful tips which would help you in safely negotiating your salary, avoiding prospective employers declining the counter and pulling the offer altogether.
Market research. Do your own market research, be transparent and share your thoughts with your recruiters. You will be able to know and ask for what you rightly deserve, compare package based on years of experience; skillset; average salaries in the market; company size, etc. These researches are helpful for you to back up your arguments along the negotiation process.
Preparations. Other than market research, it’s a good idea to have the contract reviewed (if available) and be prepared with a coherent argument that outlines your achievements and justifies why you deserve a higher salary before making the counter offer. The goal is to make it clear to the prospective employers that you understand your worth and the market very well.
Do not accept the job offer before salary negotiation, if you plan to counter offer. If you appear to accept the first offer from prospective employers, your counter offers would very likely be declined.
Tonality. How would a person feel hearing this “I can not accept anything less than X” or “I am quite excited about joining the team. Would you have a quick 10 mins to discuss the offer package?” Set your tone right, and start the negotiation on a call or in person to show sincerity. Your recruiter will surely assist you with the negotiation process, if you put your application through him/her. This could also buy you time to do research and market mapping.
The counter offer. Don’t use a range! Pick a number based on your current package, market research and recruiters’ suggestions. Finalize your ideal salary and your “bottom line” walkaway number. If you’ve done your research and you think you can do better, you’re on stable footing asking for a 10% to 20% increase in base pay.
Benefits. Other than salaries, you can also negotiate other benefits depending on the size of the prospective employers include annual leave; flexible working hours; educational support; sign-on bonus; relocation bonus; travel allowances; additional work-from-home days; etc. Larger organizations often imbedded solid benefits package within their structures, less room for negotiation.
Avoid counter offering multiple times. You would lose your trust along the back-and-forth multiple times of counter offer, keep the process short.
Trust your recruiters. Pick the right agency to work with, are they close with your prospective employers? How much leverage does the recruiter have at the bargaining table? How badly do they want to close the deal? Remember this: recruiters are as motivated as you when it comes down to getting you into your prospective employers.
When the offer sits on the high end of the market range for the role — and it’s a role you’re super excited about — there is no shame in accepting it right away.
Counter Offer Email Template
Subject: Thank you for your Offer
Dear [Reporting Line Name],
Thank you for extending an offer and for providing an update in regard to the [position name] position. I’m very grateful for the opportunity and appreciate your time through this process.
With this in mind, I would like to discuss the offered compensation for this position. Through personal research, I have found the average compensation for this position to fall in the salary range of [x] to [x], in comparison to the offer given. Considering my past experience in [x], I would like to request a salary within the listed market salary range.
I can certainly see a future for myself at the company with promising career progression and personal growth. I’m confident that I can bring a lot of value. Thank you for your consideration, and I look forward to hearing from you.
If you have any doubts or queries, feel free to reach out to any of us here at DNA Recruit Partners. Our team is happy to assist you with market insights and career consultation.
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