Studies show that about 50% of people seeking jobs in a high-demand industry reject a job offer they received. There are many reasons people reject an offer, from salary, career opportunities, culture, people, and so much more.
However, there are a few simple yet effective tips you can learn, to support your ability to negotiate job offers so you can land your dream job. Still, learning how to negotiate a higher salary and having the “courage” to ask for something more aligned to your aspirations can be difficult, and in some cultures, innocently seen as being ungrateful or rude so in this article, we’re breaking the bias, the misconceptions and the traditions of old and show you just how easy (and normal) it is to negotiate.
Do your due diligence.
Researching the market is a key action you need to take before you attempt to negotiate your salary or other aspects of your dream job. By understanding the job market landscape, you will give yourself a firm understanding of what you can expect. You will also arm yourself with vital and powerful information which will cement your reason for negotiation. This proactive, accurate and efficient approach should impress your future employer (if they are progressive and open minded) and allow for mutual respect to build between you and them, instantly.
Key in some numbers.
Once you have researched the market and have an accurate understanding of salary banding on offer for your dream job, you need to consider your lifestyle and day to day budgets to ensure this new job adds further value to your long term aspirations whether that be buying your own home, taking the family on a great holiday or simply spoiling yourself from time to time. . All commercially minded companies have a salary band - a budget range which they can use to negotiate offers. Generally speaking, when going to market, most employers will offer the median salary banding and not the highest possible offering (up to 120% of the range) . The salary offer should always fairly reflect on not only your experience but also have an appreciation for the job you are being asked to do.
The traditional approach to salary offers suggests basing the value of the offer on the candidate’s experience. The fair, inclusive and modern approach suggests offering a salary which determines the expectations of the future job. What does this mean? Consider you have been with your current employer for 5 years and earn £30,000. You opt to apply for, or get approached about a new job which would see you having more responsibility and ownership. Your new job offer should reflect having more responsibility and not reflect the last 5 years only.
Generally speaking, when you move to a new job, a 10-15% increase can be expected not only to reflect your new job, but to also compliment you on the calculated risk you are taking to leave your current employer of 5 years..
Leave the ego at the door.
You catch more bees with honey than you do with vinegar - this is undoubtedly one of the most valuable lessons you could ever learn.
When you meet your potential new employer, whether in interview or to negotiate an offer, it is important to be humble, respectful, polite and honest. Likewise, it’s important that you feel that behaviour is reflected by your interviewer and future employer.
Why is this important? People will be willing to do a lot more for you if they like who you are. It’s that simple. Humble and respectful people are more likely to be hired and listened to in negotiation and in the workplace! Typically, interviewers care more about the culture match and the way you interact, rather than your exact qualifications. Having a warm, polite and respectful approach goes a long way when it comes the workplace
Money aside for a moment…
When you are considering a job offer, you need to consider the entire deal and not have tunnel vision for the salary. While money is typically the largest part of the negotiation, there are other employee benefits that bring huge value in your future dream job..
Consider healthcare benefits, pensions, flexible working, learning, development and investment into your knowledge and of course the opportunity for career development locally, regionally or globally depending on your aspirations..
Understand Constraints and limitations
Although some companies may provide you with a low offer when you are interviewing or applying for a job, it is still important that you unearth the constraints that the company has when it comes to negotiating.
While you may be able to demonstrate that you are worth more and deserve a better offer, the organisation still may not be able to offer you what you want and what the job market place suggests as your value. Many organisations have salary caps that they cannot change, no matter how good you are at negotiating.
Because of this, you must learn to pick up on the signals and act accordingly - there is no point flogging a dead horse as you will do more damage to your brand, credibility and reputation as an individual, than you will do good.
What are you willing to do without?
Before you start thrashing out the negotiation, consider and accept what you are willing to compromise. In any job offer, there will be offerings that you are willing to negotiate and there will be non-negotiables that you will not compromise on.
Identifying each of these lists will make it easier to determine whether or not a role meets your expectations. Feeling comfortable with your own negotiables will also show your future employer that you are being fair and willing to compromise.
As you prepare your “must have” and “willing to go without” lists, remember that the non negotiables your deal-breakers. If you are not able to reach an agreement when it comes to this topic, you must be willing to walk away from the job offer itself.
Learning How to Negotiate a Job Offer? We Can Help
Learning how to negotiate a job offer is an important part of successful interviewing and applying for jobs. Following each of the above points will ensure that you get a job offer that shows your value and worth but if you want to learn more, speak to us.
Randstad's Online platform makes it easy to search for jobs and learn more about the interviewing process.
Check out our website for more interviewing tips and for help finding the right job for you!
Remember the number one priority - your happiness.
Money can’t bring you happiness and if you are unhappy in a job, no amount of digits in your payslip will make a bit of difference. Our latest workmonitor report confirms that 34% of Brits would rather be unemployed than unhappy in a job so putting the money and benefits aside, will this job bring you the sense of belonging you deserve?