Don't Accept the Offer
In the past month alone, I’ve helped 5 people negotiate thousands of dollars more than they were originally offered by companies looking to hire them.
One of the biggest career mistakes people make is accepting a job offer without negotiating. So much time goes into developing your resume and building other tools like your LinkedIn profile. You then put more time into networking and looking for jobs. And even more time into applying for jobs and if all goes well, interviewing for jobs. But then, the mistake happens. The hiring manager or HR person calls you and offers you the job and you accept it over the phone. Game over. Yes, you have a new job now but you left a lot on the table and you can’t go back. So don’t make that mistake because it is much more difficult to move your base salary once you’re inside the company. On your way in is the best time to negotiate. I’m continuously surprised by how few people negotiate offers.
To be fair, getting an offer is great news. It feels like a huge sigh of relief, especially when it feels like you’ve been job searching and interviewing forever. BUT why do you feel a sense of urgency to need to accept the offer right away? What is the huge rush all of a sudden? You have power in the process too. Take your time and remember, if they’re making you the offer, they’ve considered many other candidates and it’s YOU they want.
A few key things to consider:
1. Don’t accept the position over the phone. Thank them for the offer and ask them to email you the details. If you accept immediately over the phone, you lose any leverage you might have had.
2. When you review the offer, consider all components that make up the offer. There are many things to think about beyond just pay such as bonuses, benefits, training or education allowance, retirement contribution matching or pension, etc.
3. Most positions have hiring ranges. They are likely starting you at the low end of the range and are expecting you to negotiate.
4. Know your worth and don’t sell yourself short. There’s lots of public info on what the role you’re being offered should pay. Check out sites like Glassdoor.com or payscale.com to see what the salary range for the position should be.
If you’re expecting an offer and want my help negotiating it, shoot me an email at merryn@madetohire.com. I do this for free for my college students and charge 1 hr of my time to others. p.s. All my client work is confidential. Think of me as your secret weapon.