Pages

Jul 5, 2011

Negotiate pay before signing job offer



Published on Jan 5, 2011
So, your job interview goes superbly and the recruiter closes the offer by stating a salary figure. What is your reaction – aren't you more than ready to lap up the job and excitedly say yes!
Most people are desperate for a job and snap up the first price named by the interviewer. Negotiating for more never even crosses their mind. In fact, even suggesting the same evokes bewildered dismay! What they don't realise is that their naïveté and fear of losing the job opportunity is what is keeping them from earning their real worth.
Well, these job-seekers will be stunned to know that interviewers (except from some top companies) quote a low pay offer as a starting point with room for bargaining. They actually expect to negotiate and are taken aback by the interviewee's meek acceptance. In fact, a survey by the Society for Human Resource Management found that 8 out of 10 recruiters were willing to negotiate pay and benefits with job applicants, but only 33 per cent of the job applicants felt comfortable negotiating!
What's more, the low aspirations lower the job applicant's value in the eyes of the employer! On the other hand, negotiating for more highlights your confidence in your abilities and value, thus winning you a grudging admiration. Almost all employment experts advice, ‘never accept the first offer'. As Dana Zedd, who spent three years making and negotiating job offers elaborates, “Even if it is just for a small percentage more, always negotiate!” But negotiating salary is a delicate matter, which can easily backfire. Here's how to proceed:
Ask first: Often, a higher pay package can be yours just by asking. Believe it or not, in 90 per cent of the cases employers raise the offer or at least grant another perk. But you have to handle the situation with caution and diplomacy.
Do not rush in: Never bring up the salary topic before the interviewer. Let him quote a figure and then take it from there. Even if you are pushed, try to avoid the issue and if it doesn't work, at least quote a ‘salary range' instead of digging a hole with a fixed amount.
Most job-seekers are ready to jump out of their seat at the job offer. Here you have to restrain your emotions and refrain from responding immediately. A tip: hesitating a little or simply repeating the salary figure will convey that you are pondering the amount and are dissatisfied with the same. Else, you can calmly suggest that you would like to think it over for 1-2 days.
Upping the ante: First appreciate the job offer and show how enthusiastic you are about the job and really want to work for the organisation before quoting your expected salary. This is the time to sell yourself by singing your own praises. Establish your value by stressing on what you have to offer as your strengths and achievements. You can even highlight the key challenges of the position and how you can exceed expectations. A convincing and persuasive argument will force the interviewer to relent.
Adopt a careful, pleasant, gracious yet firm negotiating approach. Take care that you mention a reasonable figure; ask for too much and the interviewer may just withdraw the offer! Also, be consistent as raising the stakes every time your stand is accepted will only insult the interviewer. In fact, a top recruiter Ross Gibson articulates that he “judges applicants by the way they negotiate - and withdraws offers from those who come across as immature or greedy!” You too need to be flexible, co-operative and open to negotiation so that the employer feels that he has won some compromises at least.
Fair market value: You have to do your homework to determine your real worth in the job market. You can peruse salary surveys, industry magazines, company websites or speak to people in the same job to find out the expected salary range and benefits of the position you are seeking. You can even bring up your research during the negotiation to support your claims.
While the salary figure may loom large, it is prudent to consider the whole package during negotiations. In fact, employers are more flexible when it comes to bargaining benefits or working conditions. Some additional perks that you can ask for range from signing/performance bonus, stock options, profit-sharing, severance pay, relocation expenses, health plans, training/certifications and vacations. At times, even an accelerated salary review can work in your favour. For example, try “If I accept this salary, will you award me a performance-related bonus plus a performance review in six months instead of a year?”
After all, the employer wants you almost as much as you want the job. It pays to make the most of it as Stephen Pollan, co-author of The Total Negotiator says, “You are never more powerful than when you are responding to their offer!”
Payal Chanania

No comments:

Post a Comment