The data tells us that 79% of employees that ask for a raise get one. But what about if you are a newly (almost) hired worker? A question that almost all job seekers ask these days is: Should I negotiate the salary offering on a new job offer? CNBC says you should—even if it’s your very first professional experience. Fine. The real question, then, becomes, how do you ask? Here are some tips for negotiating a salary offer.
Asking for More: Here’s How to Get a Better Job Offer
The first step when negotiating a salary is always to do your research. There is simply no leverage or context without it. There are a handful of good salary research sites out there: Glassdoor, PayScale, salary.com, and more. But the U.S. Bureau of Labor Statistics is a great resource for salary data, as well.
Next, consider the position of the employer. Think about the information you’ve gleaned during your interviews. If the recruiter has been very candid about the salary caps and the company is a small one, the employer simply may not be able to go higher. (This is where the help of an experienced recruiter at Blackstone Talent Group could be invaluable.)
Practice your approach to negotiating the offer. Look over your “brag sheet.” Think about it from the perspective of the employer. What is it that you bring to the table that they want so badly?
Tori Dunlap, a contributor to CNBC, says a simple salary negotiation at the front end of the hiring process netted her another $10,000 in base salary. She reports, “I’ve walked the ‘negotiation tightrope’ several times and have managed to increase my salary by at least 10% in every new job I’ve held.” She also points out, “Most companies expect you to negotiate, so they tend to offer you a much lower number. My advice is to always ask for more.”
Tori uses a little formula in her approach to salary discussions with potential employers. There are several steps:
- Express your gratitude for the offer. Tell them you are very excited and appreciate the opportunity to start a career in their firm.
- Then make your case. It could be that the salary is less than what was originally discussed. Maybe the salary is below market value. Perhaps it’s even less than what you made in your prior position.
- Say something like, “Based on my experience and skills, along with the market rate, it would make more sense for me to be in a higher pay range of (___). Share the market data you’ve gathered with the employer.
- Close with a reminder of all you’ve accomplished in your career and how eager you are to show your value to the organization.
- Thank the hiring manager for the amazing opportunity, and ask when you might hear back.
Keep in mind, just like in poker, you have to lay your cards on the table and be willing to lose. For experienced tech professionals in today’s market, it’s a game that may just be worth playing. Blackstone Talent Group can serve as an important go-between in the salary negotiation process. Talk with our team today about how we can get you the salary and the job you’ve been dreaming about.