You’ve received the job offer which is great, but you would like slightly better terms. How do you go about negotiating a more attractive package and are you likely to get what you want?
When you made your application for this role you will have supplied one of two things; your current package or your desired package. If it is the former it is reasonable to expect that you will be offered more. If it is the latter then the Company will expect you to accept what you asked for (unless the role has grown significantly during the interview process). It is always worth being up front about what you want from the off. The Company then knows whether or not they can afford you before they start. If the package is a key part of your decision and there is a company out there that can’t afford you then accept they are almost right for you but move on.
So what factors will be key to the Company;
- How skilled you are in relation to other candidates and their remuneration requirements
- How you fit within their internal hierarchy and what pay grade you fall into
- How much they want to employ you over and above another candidate
What factors should you consider;
- What the role was advertised as paying
- What is the minimum you will accept?
- What is the overall package value and what does that mean to you? – saving an hour each way on a daily commute is a gain of ten hours per week ‘you time’ (priceless to some), plus a considerable saving in travel expenses. Working from home two days per week not only saves on travel and time but also means you can make your own lunch rather than rushing to the local sandwich bar with your colleagues.
What can you say to an employer about a package;
- I was hoping for a little more
- Is there any movement on the package?
- Do you have any flexibility on the remuneration?
Keep calm, accept that employers are used to having this conversation and know that it doesn’t hurt for them to know that you value yourself and your skills.
Do be aware what the current market value is for your skill-set and if that is impacted by your location/the location of this role. Be willing to consider other ways to get the overall package you want; increased bonus or commission, higher car allowance, health care for your entire family or stock options all have value. Remember to be polite and friendly throughout the conversation; whether you take this job or not you may still work with this person at some point in your career, keeping a good reputation as a likeable professional is always the right thing to do!
For help with the interview process or making the transition from where you are to where you want to be please contact one of our Consultant Coaches at email@example.com