Are you among the 49% of Americans who never ask for more than what is offered, despite the fact that 45% of employers fully expect to negotiate a job offer? (By the way, more women than men accept what’s initially offered without any negotiation.)
Compensation has been a lively topic of conversation with clients recently—some of whom have received multiple job offers. That’s a good sign for the Maine economy, as well as a statement about how well prepared our clients are for the marketplace.
We often encourage our clients to negotiate an offer and request additional compensation and/or benefits. This is always based on two factors: the value they bring to the organization and what the marketplace is paying for similar positions.
When done well, the negotiation results in a win-win for the candidate and the employer.
Take Janice for example–a Pharmacist with a recent Doctoral degree and considerable experience. Her colleague encouraged her to apply for a position at a progressive pharmacy that stressed consultative services to customers—right in line with her preference and skill set. But, the new salary offer came in lower than what she had been earning, and she was told that the base salary was the maximum for this position.
After communicating the value she would bring to this new position and her disappointment with the compensation, Janice was offered a generous sign-on bonus and an increase in her bonus structure over time. Janice accepted and the company was thrilled to have her join the team.
Research shows that if you feel in control of your life and believe you can make things happen, (as opposed to believing that others control your circumstances) you are more likely to ask for what you want, and, therefore, influence the outcome.
However, if you believe your fate is in someone else’s hands, you may not even imagine there are options other than those presented to you.
Follow these tips and negotiate the compensation you deserve:
1: Think about what you really want and the value you’ll deliver, not just what you assume is possible.
2: Articulate your professional value as a rationale for your request.
4: Request a meeting to review your job offer. Express appreciation for and interest in the offer before you present your counter-offer. Keep in mind that vacation time, a flexible work schedule, additional time without pay, and other benefits, can all be part of your final negotiation.