You have just successfully passed your job interview and are feeling pretty good about the job offer you are going to be presented with when you see the hiring manager tomorrow. But what if you get low-balled; the offer does not match your expectations. Do you reject the offer outright like an amateur? Or do you see it as the first move in a chess game that requires an equally strategic response?
Most people find it hard to negotiate a job offer with the claim that “my employer should know my worth”. If that were true, teachers would probably be the most paid professionals. As an employee carrying a specific set of skills, you need to know how to sell yourself.
1. See if the potential job meets your career goals.
This is the point where you focus on the job itself. There is no use in negotiating for a better package for a job that will sap the life out of you or derail your career. Figure out if you want the job itself and, do you know what your prospective employers expect from you? Is it something you can deliver? By finding out the answers to these questions you can know whether or not you should push for a better compensation.
2. Find out all the particulars.
You should examine the offer you have been given. Look at the various clauses and get an idea of what your prospective employer is trying to sell to you. If you need further explanation, do not be afraid to ask. Find out about how bonuses and other perks are structured, how much you will be paying in income tax, any monthly deductibles that will affect your salary and most importantly find out how much you can call your take home pay. Do not let a bunch of big figures on a piece of paper blind you.
3. Know your minimum and target salary.
A minimum salary is the lowest figure you would be looking to accept. The target salary is what you would ideally accept. You can disclose your target salary if you wish to but the minimum is your secret. Without figuring this out, you cannot adequately know whether or not a job offer is right for you.
4. Be Polite
Even if you are going to reject the offer be polite about it. Antagonize your prospective employer and you might as well negotiate against a brick wall. Acknowledge the offer, do not delve into specifics. Just let them know you like the offer of employment, just not these terms you are currently looking at.
5. Ask for more.
During negotiations, never throw out a number but state your opinion about the low offer you have in your hands. By doing this you force the employer to offer you a number. If you did blurt out a number, the employer might be tempted to add to your main salary. After tax considerations, you might not see the full value of the increment.
6. Get everything in writing
Put everything in writing, even the items that are conditional i.e. those based on performance. Make sure it is legal and can be used to hold your employer accountable.
