After all your hard work researching, applying, and interviewing, the road to the end is now in sight. You’ve found your ideal job, and you’re eager to take the next steps to start doing what you love. All you have to do is wait for the final offer, and you’ll be on your way, right?
Not so much. The natural tendency is to take a well-deserved emotional break and wait for the company to return with a fair offer regarding salary, benefits, and other perks associated with the job. It would be nice if you could give yourself a rest, but now comes the preparation for the final offer and negotiations.
Final job negotiations can be tricky and a bit stressful, but they are essential to guarantee that you receive the compensation you deserve for your qualifications. Job negotiation is an art and should be taken seriously from the beginning. Follow these tips to learn how and what to negotiate when you’re offered a new position.
Negotiation Tactics
Every company has their own standard offer when it comes to salary and benefits for their available positions. A company may give you an initial offer, but it’s important to recognize your worth and fight for what you believe is fair. Here are some negotiation tactics to keep in mind when you’re finally at this stage.
Do Your Research
The first step is to determine what is an appropriate offer for this position. You must consider some factors relating to that number, such as:
- Cost-of-living
- Relocation assistance
- Parity with similar positions at other companies
- Amount of risk in the job due to the company’s standing
- Location
- Responsibilities
- Level of control
- Amount of travel
Do your research before the actual offer so you may be adequately armed when final negotiations take place. You can find this information by networking in the local marketplace and internet resources that offer salary comparisons and reviews.
Be Patient
As you already know, the hiring and application process can take some time to get through. Don’t jump the gun when it comes to your job negotiation. Be patient and try not to broach the topic of compensation until your potential future employer does.
If the hiring manager asks you about your salary requirements, you can be honest and say that you are willing to be open-minded based on the responsibilities of the job. You can give them a range that you would consider without being too specific. It’s also worth noting that you don’t have to disclose your previous salary if you don’t feel comfortable.
Evaluate the Offer
Base salary is only one of the factors that come in to play when you receive an offer. It’s possible to receive bonuses in a different form of payment, and you can often negotiate these things. Some things you can negotiate alongside salary are:
- Additional vacation time
- Work schedule flexibility
- Professional dues
- Ability to work from home
- A car allowance
Use a variety of these factors when negotiating with your employer to ensure that you receive what you’re worth.
Accept or Decline
After the initial offer from the employer and your possible counteroffer, it’s time to accept or decline the position. Companies typically expect an answer within 48 hours of an offer being extended. Some will allow for a week plus the weekend, but rarely beyond that.
They assume that you have asked all of the necessary questions concerning the position, corporate structure, and benefits and that all that remains is whether the compensation package is attractive enough for you to accept the job. Taking too much time to reach a decision runs the risk of having the offer withdrawn.
Once an employer extends an offer, make sure you ask for a written offer letter and that the appropriate benefit information packet to be sent to you by overnight mail. You must perform your due diligence before accepting or rejecting the offer.
Essentially, the final negotiations process is somewhat tricky but extremely necessary. Follow these tips to help you navigate your negotiation and finally land your dream job. The hard work you put in now will pay off down the road.
If you would like more advice on the job search process or you’re ready to take the next step in your career, contact J.L. Nixon today. We are experienced insurance company recruiters and are eager to help you find your future career. Contact our office at (210) 649-1500 to speak with one of our job search experts today.