Let’s Talk Negotiations
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Great news! You landed the job after all those hours of preparation and interviewing! Now what?
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Get Excited!
Negotiating doesn’t come naturally for everyone. If you’re one of those people don’t worry, follow these steps to start that conversation. Start by reacting with positivity and excitement. Let whoever called you about the offer speak and listen before reacting. Thank them for the offer and ask if you will be receiving the full offer in writing after the call if they don’t mention it. Always, always, always get the offer in writing before starting any negotiations. You can also ask how soon they will need a response (usually you will be able to get at least 24 hours to look the offer over).
Consider the Whole Deal
After receiving the written offer, take a look at all the details and consider the whole package. Don’t get fixated on money. Focus on the value of the whole offer including responsibilities, signing bonus, relocation stipend, job responsibilities, health benefits, flexibility in work hours, vacation time, retirement benefits, opportunities for growth, and other benefits. If this is for an internship then definitely consider the growth opportunities more so than just the base salary. For internships that are not part of a standardized program, there is an option to negotiate.
Do Your Research
The rule of thumb is that it is acceptable to counteroffer between 10% and 20% above the initial offer. Take a look at other positions in the same industry/location and understand what your market value is based on your experiences and skills. Are you being undervalued? If so, by how much? If your job is in another city, here is a calculator to compare the salary/cost of living.
Say, for example, you were offered a $75K base salary for an Operations Associate role in San Francisco but your research shows that someone with 3 years of experience should be getting $80K in San Francisco then use that knowledge in your negotiations. Have a minimum number in mind that you would be willing to accept for the role. You can use the counteroffer calculator linked below to come up with the number you can ask for during your negotiations.
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Tips Before the Negotiation Conversation
Familiarize yourself with industry salary trends. Use Glassdoor, Indeed, or Linkedin Salary estimates to understand where you fall.
Know the salary range of the job you’re applying for
Take the time to think
Show excitement and gratitude
Be open-minded and confident, not rude and arrogant
Don’t apologize for asking for more!
Know what you want. If they can’t move on salary what else is something you are willing to take? More vacation days? Relocation bonus? Stock options?
Set Up A Call or Email to Negotiate
Send a note to your recruiter or whoever called you about the offer to set up some time to talk. You can tell them that there were some details of your offer letter that you had some questions about and would like to jump on a call to discuss. Similarly, if you are not comfortable negotiating over the phone you could send them an email to negotiate your salary. Thank them for their time and always express gratitude for the offer. Express your excitement again at getting an offer and potentially working for that company.
Ex. “Hi Jane, thank you so much again for the offer. I am happy to hear that you want to bring me on to the team and I’m excited to get started. However, I was hoping we could discuss my compensation. I’ve researched the industry we are in and the current market value. Combined with my qualifications and experience, I am aiming for a starting salary of $X for this role. Would you be able to amend your offer to get me to this salary?”
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Never Apologize and Know Your Worth
Be confident when negotiating your salary and never apologize for asking for more! Recruiters and managers know you will try to negotiate. Don’t forget they’re human too and negotiated for their own salaries as well. Be polite and always show gratitude. Consider the whole package and don’t let base salary be the one thing that deters you away from a great role and company. On the other hand, also know when to walk away if an offer is far below your minimum salary requirements. Good luck and congratulations on your offer!
