How to Negotiate for the Best Job Offer in Today’s Job Market
Job hunters in today’s bustling market have a clear upper hand, with the majority of employers reporting struggling to hire enough employees. This means that most companies are working around the clock to hire talented job seekers. Despite this shortage of workers, it’s important to know how to negotiate for the best job offer possible. So, let’s take a look at some expert-recommended tactics for negotiating a great deal.
Find Out What You’re Worth
In order to find out what reasonable compensation would look like, it’s a good idea to do some research on what you might be worth in today’s market. A good place to start is to contact former employers and ask them for information on what kind of salary range someone with your skills and experience could expect. Try to acquire several estimates to reach an average. You can also contact recruiters that specialize in your area, and they may be able to supply you with information on what companies in your area are currently paying.
If you are applying to a specific company, look at sites such as Glassdoor, where former employees share salaries and reviews of their employers. You may be able to ask an employee who recently held the position what they earned. However, always make sure to check for salary information for the area where you are working. Salary ranges are typically based on the area in which an employee works.
Make Your Case
Now it is time to begin negotiations and make sure to bring your salary research. This research will show that you have a basis for what you are asking for. Remember to ask for a range instead of a particular number. This shows that you are flexible, but always make sure before you have this discussion that you know what you are willing to accept. If you can’t negotiate this amount, don’t be afraid to simply walk away.
But, if an employer won’t budge on the salary, you can consider asking for other financial incentives, including a signing bonus. Often a hiring manager has considerably more discretion in offering a signing bonus than a salary that may have a predetermined range. Many more businesses are offering signing bonuses as a way to attract talent while maintaining internal equity in salaries.
Negotiate for Other Perks
Don’t forget to negotiate for other perks beyond the base salary as well. First of all, nearly half of workers would like to work from home and if this is something you are looking for, then make sure to ask for some specific accommodations during these negotiations. If you would like to work from home during specific hours or full-time, make sure you and the hiring manager are on the same page.
Additionally, consider bringing up perks such as tuition assistance, child care, transportation reimbursements, and paid time off if they would benefit you. Just make sure not to ask for a benefit that you know the hiring manager cannot offer.
You want the best offer that you can possibly get, but always remember to be reasonable, particularly when it comes to salary negotiations. If the difference is small, then don’t split hairs over it. But before you walk away, remember to get everything you’re offered in writing to make sure there aren’t any future discrepancies.
Finally, make sure that there are no surprises for the hiring manager that may result in a job offer being rescinded down the line. Make sure to check your credit and ensure your references are up to date. Lastly, consider performing a self-background check to make sure there are no inaccuracies and fix any you find now before your future employer sees them.