After successful interview preparations and completing the job interviews, you are now starting to receive some job offers from some hiring companies and might need to negotiate salary. At some point during the job interviews, there may have been discussions regarding salary, benefits, and maybe bonuses or even sign-on bonuses. Here are some important things for you to consider when considering the job offers for the positions you are most interested in.
To start, make sure to ask for any job offer in writing. Verbal job offers are often given first, don’t be worried to ask for written job offers. At a minimum, the written employment offer should include:
- The title of the position
- Start date
- Commissions, bonuses, and other income opportunities if applicable
- Benefits (health, dental, vision, 401K, paid time off, etc.)
- Look for contingencies (successful background check, drug screening, etc.)
How to negotiate salary after a job offer is received?
You have received a job offer but the salary or compensation is not as high as you would like. You can begin to negotiate salary but be prepared to provide the employer with sound reasoning behind your salary request.
Negotiating salaries start first by letting the employer know that you do want the position. Then, tell the employer you would accept the position at $___ amount. Make sure you give the employer a definite number that you are willing to accept. The last thing an employer wants to do is get approval for a salary increase in the offer, and then it is still not acceptable.
What should be included when negotiating salary?
There are many other considerations when deciding to accept an offer from an employer to go along with negotiating salary. Here are some other benefits that might also weigh into your decision:
– Sign-on bonuses, commission
– Vacation, paid time-off
– Tuition reimbursement
– Health, dental, vision
– Retirement, 401K plans, profit sharing, stock options
– Leadership training programs
– Work-life balance
– Advancement in job title – maybe you are looking for a promotion, and it is more important to you than a specific monetary amount. We recently had an employer change the title of a position to encompass the candidate’s career goals. Sometimes, it is the little things that matter most.
Research industry salary trends and know your value
Once you start negotiating salary for additional money, sign-on bonuses, or benefits, the original employment offer may no longer be available to you. Again, if you decide to ask for higher compensation, be sure the employer understands why and your request is within current industry trends.
Start negotiating salary with as much industry information as possible. You will be able to respond more confidently knowing the needs and trends. The employers in your industry may be having a tough time filling positions with candidates that have the skills and experience they are looking for, and that is in your favor when trying to negotiate salary.
How long should you wait to respond to a job offer?
When you receive a job offer that is acceptable, you should respond as quickly as possible. If you delay, it is likely not an opportunity for you. This is your chance to show your new employer you want the job, and you’re anxious to get started with your new career.
You can do this by accepting the offer within 24 hours. Any delays in the process will make it look as though you have other offers or that you are not that excited about the opportunity.
It is important to consider the whole offer. You may be offered less in salary, but the company’s tuition reimbursement plan or healthcare plan may benefit you more in the long run, and therefore, outweigh the difference.