What do you need to do in order to negotiate a job offer? This situation can be a tense or challenging experience. But it's also the perfect opportunity to get a salary and benefits package that's fair and in line with your experience, skills, and needs.
According to a study conducted by Columbia University, in the United States of America, only 39% of candidates negotiate salary during the hiring process. In other words, if you don't feel comfortable when you are in such a situation, you’re not alone. Many people feel insecure or unprepared to negotiate a job offer.
On the other hand, another study published in the Journal of Organisational Behaviour, shows that salary negotiations are important not only for current, but also for future salary. The research points out that candidates who negotiate a job offer receive a higher salary on average than those who don’t. In other words, salary negotiation is not only important now, but plays a role in your future income.
If you haven’t ever negotiated a salary, you still have time. Studies show that a person has 5.7 jobs in his career. So, sooner or later, you will be put in a position to negotiate a job offer.
Feeling the pressure yet? Relax. Of course we prepared some easy to follow rules that will help you get a better salary and benefits package for the position you want.
5 rules for negotiating a higher salary
We’ve already mentioned that negotiating a job offer can be a stressful situation, but it's important to make sure you're doing everything you can to get the right salary and benefits package for the position you're about to accept... or at least to consider it.
So, here are the 5 rules to keep in mind when the time for negotiation come:
1. Know your worth
Before negotiating anything, make sure you know your worth. Find market salary information for the position you're applying for, the level of experience you have, and the geographic area in which you work. Pro tip? You can use nPloy to analyse the market.
2. Learn more about the compensation package
Make sure you are aware of all the elements of the compensation package that the company is offering. This may include, in addition to salary, benefits such as health and dental insurance, additional days of paid leave, various bonuses, food vouchers, and many more. Try to evaluate each component of the compensation package before negotiating. Another pro tip? You can browse nPloy to see what other companies are offering for similar jobs. You can also see a list of the top 5 social benefits candidates prefer.
3. Focus on common interests
During negotiation, try to find common ground and reach an agreement that is beneficial to both parties. After all, the company wants to hire a quality candidate, and you want a fair salary and benefits. So why not find a compromise that works for both sides?
4. Be prepared to negotiate
It is important to have a clear idea of what you want before starting the discussion. You can even write down all your needs and wants, as well as the pros and cons for this job. Before you start negotiating, make sure you're clear on the aspects you’re not willing to give up - salary and most important benefits. Be prepared with a counteroffer in case you're not satisfied with the initial offer.
5. Always use the right tone
While negotiating, it is important to always keep a respectful and professional tone. Don't shout, don’t be pushy, don't be aggressive or defensive if you don't like the initial offer. Try to communicate calmly and openly and focus on achieving your goals. Good luck!
Now you have all it takes to negotiate a higher salary. Go get it!
