Job Offer Negotiation Tips and Tactics

(Part 2 of our 2-Part Series on Negotiating Offers)

Welcome back to our two-part blog series on job offers and negotiations. In our blog post last week, we took a deep dive into the components of a compensation package. Understanding those elements is crucial for navigating the negotiation process confidently and effectively. In this follow-up, we'll discuss tactics and formulas to help you ace negotiations and secure a job offer that meets your expectations.

Prepare for your Job Offer Negotiation

Before you engage in any negotiation, the first step is to ensure you're well-prepared. This involves:

Research: Gather information on industry standards for compensation packages, specifically within your target role and location. This intel will help you set realistic expectations and strengthen your negotiating position. Our Slack community is a great place to do that research, Glassdoor is not.

Know Your Value: Assess your worth based on your skills, experience, and previous accomplishments. This understanding can help you articulate what you bring to the table during negotiations. Being realistic and pragmatic while also understanding that the salaries reported by your peers and friends may or may not be completely accurate... You know your friends, are any prone to exaggeration?

Identify Your Priorities: Know what's most important to you in a compensation package, e.g., base salary, target bonus, or equity. This insight can help you focus on what matters most during the negotiation process.

Tactics for Job Offer Negotiation

Using the insights from your preparation and what you value most, draft a professional counteroffer. To do this, we suggest the following format:

Start with Gratitude: Express enthusiasm for the opportunity and your appreciation for the initial offer.

Present total cash compensation goals: Clearly state your goal, usually in terms of total cash compensation. This allows the recruiter/HR room to get creative with getting closer to your number. They might add some to the base salary, and add a signing bonus to bring the total cash up, or they might be able to absorb your request entirely into the base salary.

Be Flexible: Demonstrate collaboration and openness to compromise in your response. This mindset encourages a productive back-and-forth exchange with the employer.

Allow Time for Response: Permit the employer some time to review and respond to your counteroffer. Check in 24 hours later if you have not heard back, and ask for an expected timeline to follow up again if the company has not yet had time to work on the revised offer.

Throughout the negotiation process, maintain a professional demeanor, as this phase is still considered part of the hiring process. Overly aggressive tactics or a lack of responsiveness could jeopardize your job offer.

In the end, successful negotiation relies on preparation, a good understanding of which pieces of the compensation package can be negotiated, clear communication, and a collaborative spirit.

Happy negotiating, and don't hesitate to reach out - we're here to help you navigate your career journey!