Once you have successfully completed the job search process and land a job offer, then what do you do, you think about negotiating salary. Some breathe a sigh of relief and think that’s it. There’s still work to be done. It’s the part of the process that many feel uncomfortable with however it’s crucial.
Negotiating salary for your job offer may feel intimidating however if you do your research, you will feel more prepared. Although in some instances people say it’s not about the money which is understandable to some degree. It’s still an important factor. It demonstrates how the company values you and even if it seems less important now, that will change when you are working long hours at your new job. In addition, we must face that we all have financial responsibilities that need to be taken care of. Having said that, here are some things to consider when negotiating salary and benefits.
When negotiating salary, look at the market data to see what is the competitive salary for your position. There is some good salary information online. Furthermore, depending on size of the company, you may be able to find out what incumbents in that position currently make at the company that is extending your job offer. Be armed without information during the negotiation process. Another thing to keep in mind is that in more than a dozen states, companies are not allowed to ask you what your current salary is. Although you don’t want to be confrontational, it is good to know what the laws are in your home state.
There are other things to consider when negotiating a job offer based on what is valuable for you. Some companies are open to negotiating a special allowance for things like transportation costs or day care. Other companies even have day care facilities onsite. Some offer meal allowances or provide cafeteria meals onsite. These are all benefits that have a monetary value that you should consider when determining how much the job offer is worth.
If you are negotiating a job offer for a senior level position, one important factor to consider is negotiating a severance package. Typically, this package offers a severance amount provided that you are not terminated for cause. The logic behind a package like this assumes that it takes longer to find a new job for a senior level role. Essentially there are less positions available as one moves up within an organization.
Maybe sure you communicate how excited you are about this opportunity. It is vital to convey that to your new prospective employer as part of the negotiating salary process. Then you can present the salary and perhaps additional allowances you have in mind as well as the data that supports that request. When negotiating, be realistic in terms of your asks otherwise you may risk losing the opportunity. There are a number of other things you can negotiate in addition to salary. Keep those in mind based on what matters to you so you have other avenues to take if you are not offered the salary you desire. Although it may feel awkward, that discomfort is for a brief period of time and typically worth the effort. Once you go through that process, you will feel more confident for the next time.