Most people hate talking about money. This is especially true during the job interview process. Doing it wrong can stymie your chances for a new job. But it also can feel awkward talking about money with a hiring manager that is practically a stranger.
We know that there are some good ways to conduct this process and some less-than-advisable techniques for the counter offer. This article discusses both.
Understanding Your Options for the Counter Offer
You may experience excitement and disappointment in the new job offer. The excitement comes from winning the role. But if the salary or contract rate is below your expectations, it can throw you into a tailspin. That’s when it’s time to make a counter offer, which is a negotiation process that could help you earn more money. But this is a strategic and difficult move by the job applicant that could backfire, so thought must be given to how and how much to counter offer.
That’s probably why the majority of job applicants still do not use the technique. Women are even less likely than men to try to counter the offer. Here are some tips for the process that may make it a little easier:
- Figuring out how much to counter offer requires some research into the field to determine what the local market rate dictates for compensation. It’s important to look at both local and national salary trends as well as using Glassdoor or PayScale to research the company to see if there is any salary data recorded from current or future employees. While everyone has a budget or financial commitments to meet, make certain your counter is tied less to your gut and more to concrete research.
- Time may be on your side, so when the offer is made, let the hiring manager know that you’d like 24-hours to consider the full package. If you’re working with a Blackstone recruiter, you can work closely with them to determine if a counter offer is even feasible, but if you’re on your own look at the research and talk with your support system to determine next steps.
- Also, consider the perks and benefits in the offer. Are there work-from-home days? How far is the commute? Could you ask for a 90-day review that would possibly allow for an increase? Do they pay tuition? How much will you pay for insurance or other benefits? Don’t forget the non-salary part of the offer, because it could be considerable. Think about if there is flexibility to ask for more paid time off instead of an increase in salary, for example. Could you ask for a signing bonus? The point is to consider the entire offer in its entirety, along with your current situation, the future opportunities at the company, and the unique market where you live.
Blackstone is in Your Corner
The benefit of having a recruiter that you trust is that they can help you negotiate the best possible package of salary or contract rates and benefits. Blackstone Technology Group has represented hundreds of job seekers just like you and our team works hard to help you get what you deserve. Contact us today.