It’s overwhelming when you receive a job offer and you might be wandering if you can leverage your offer, as a matter of fact, those who negotiate a job offer are often successful in getting a better outcome.
Fear of jeopardizing the job offer and ending up leaving the interview room with no job makes some job seekers stay mute when they needed to leverage the offer.
What many job seekers are not aware of is the fact that most companies actually create some negotiation room for the compensation and benefits that they provide.
When To Leverage A job Offer
1. When you must have received an offer letter
A common mistake of candidates for a job is trying to negotiate before they are assured a job offer. The key here is to make sure that a written offer is already in place before negotiating. One must be sure first that the employer indeed wants them, as evidenced by a written offer. If the approval is only verbal, a salary negotiation should be put on hold.
2. When you can specify your contribution to the company
An applicant’s monthly expenses are not the most important consideration employers make when deciding on a salary, but rather the significance of the job for the company. So, an employee who is ready to clearly state how much he can offer the company can definitely negotiate.
3. When the work load is much demanding
There are certain jobs that are more demanding than others, and it is just right that people who do these jobs are justly compensated. A new hire should consider how he will be feeling about his salary in the coming months. Chances are that if at the beginning the salary doesn’t feel enough, then it would be no different in the future.
Tips On How You Can Leverage Your Job Offer With A Successful Outcome
- Do A Thorough Research
Research will be your best friend in a negotiation. Share the results of your research with the hiring manager. Even if the offer is already at the market rate, you can still make a case for more money by explaining what you bring to the table that justifies above-average compensation.
Another way to make the business case for more money is to expand the role’s responsibilities during the interview. Then, point out these expanded responsibilities in the negotiation.
- Target The Right Time
Wait until you have a firm job offer, a recruiting and temporary staffing firm that places accountants and finance professionals. There’s no point in negotiating terms for a job that you have only interviewed for, because this will give the wrong impression to your potential employer.
- Negotiate With The Right Person
Try to negotiate with the person who cares the most about your coming on board. Usually this person is your prospective boss. You have to understand him/her, What are their interests and individual concerns
Assess how much negotiating leverage you have before deciding how hard you want to push for individual items. You have the most leverage when you feel you can walk away from the offer. If you must take the offer, however, you still should employ these guidelines. ask for what you want and then move on to the next item if they’re not receptive.
- Don’t Negotiate In A Hurry
Wait a couple of days after you receive the offer before proceeding to negotiate. Don’t respond to a job offer on the spot. Instead, thank the interviewer and express your gratitude. Then ask about a timeline for getting back to them with your decision.
Give yourself time to both understand all aspects of the offer and come up with a negotiating strategy based on what you’ve learned
As you’re getting your questions about the offer answered, set up a separate meeting with the hiring manager. In that meeting you can both negotiate the offer and get any remaining questions about the role itself answered.
- Flaunt Your Prowess
Provide a reason for why you deserve that money. Now, the company needs to address the justification, and you can see if you’re on the same page about it.
Treat the negotiation as if you’re asking for an investment, an employee is hired to bring financial value to the company, so they want to be convinced that you will provide a substantial return for their investment in you. Present a clear idea of what you will bring and how much of a financial impact you can make.
Confidently list your achievements and how you can help the employer reach its goals faster or receive better-than-expected results and be prepared to answer follow-up questions As you lay your points, avoid words including “maybe” or “I think” “because they make you look uncertain about your skills, expertise, and value,”
- Stay Positive And Optimistic
Too many jobseekers hesitate to negotiate a job offer, thinking they might withdraw their offer if they say the wrong thing. If you come across as positive and sensible in your negotiation, you’ll find that they will be impressed and may want you even more. Clients have reported being complemented on their negotiating approach by their prospective employers.
You don’t want to be seen as an antagonist. Look for opportunities to say things like “I appreciate your thinking of me for this role. I know I would enjoy working for you and with everyone else I’ve met.” Another example: In finding solutions to a problem, do not say “what can YOU do about it” rather say “what can WE do about it.” Convey that you’re on the same side of the table as them, where you’re both trying to solve a business problem together.
- Keep It Simple
A lot of managers don’t necessarily have the unilateral ability to change your pay,” Mr. Buckmaster says. If your boss is going to have to run your request up the ladder, keep your pitch compelling and concise “so it doesn’t get lost in telephone games,” he says.
- Plan A Long List Of Items To Negotiate
If your prospective employer rejects an offer, they are more likely to accept the next. They don’t want to keep turning you down since they like you and want you around. Keep in mind that you can negotiate nearly everything, including Salary increment, job position, responsibilities, work-from-home, severance, time off, moving expenses, and more.