When employers make a job offer, they usually present a package that includes a proposed salary. If you don’t feel the salary aligns with your education, career level, skillset and other strengths, you may choose to negotiate for more money. The more prepared you are, the more likely you are to negotiate a better salary.
Below are five tips from Toronto recruiters for successfully negotiating your next starting offer.
1. Know your worth
Before the interview, do your research to learn what the position you’re applying for is typically paid. You may believe you deserve to earn more, but what does the job market say. If you’re applying for a position in a hot job sector, the employer may be struggling to find candidates with the right skills and experience. This could give you additional leverage in your negotiations.
2. Prepare talking points
An inevitable question that will arise in the negotiation is: Why do you feel you should receive more compensation than the employer has offered? Be sure you have effective talking points at the ready. These could include results you’ve delivered in previous roles, your education and years of experience, or skills you have that the employer requires.
3. Don’t start the negotiation too early — or too late
It pays to choose the right moment to raise the issue of compensation. Once an offer is presented, you can consider the door to have been opened for you to start asking questions. You definitely should not wait until after signing a work contract to discuss the salary you will be paid.
4. Don’t accept the first offer
Whether they’re feeling desperate or are merely impulsive, job hunters can make the mistake of committing too early. This should be avoided. If the employer presents an offer, let them know you’ll respond within a specific time frame. Use this time to carefully review the offer. Salary is important but what about other factors such as vacation time, a car allowance or the flexibility to work from home. These are bargaining points that you could use to your advantage.
5. Get it in writing
Once your hiring manager makes an offer that you agree on, be sure to get it in writing. Companies usually offer a compensation package with documentation that you sign off on. If this does not exist, have it written in an email. This is just as legit.