You’ve received a job offer — exciting! 😁
While it might be tempting to accept an offer right away, make sure you give yourself enough time to understand what’s being offered and what’s being asked in return. Here’s what you should know before accepting a job offer 👇
Know your market value
Your market value is what you should be getting paid depending on your job title, years of experience, qualifications and location. It creates a baseline for you to refer to when reviewing salary. Knowing your market value can give you a leg-up when negotiating your salary. Can’t argue with facts, rights?
Where to find your market value?
Market value and salary information can be obtained online from websites such as Glassdoor.com.
You may also like to speak to colleagues and others in the industry you work in.
It’s also worth jumping on some recruitment websites which publish salary reviews. Or if you have a recruitment contact, you can always reach out to them for advice on a reasonable salary for someone in your position.
Non-monetary Factors
Don’t be quick to assume you’ll be satisfied in a job just because the company pays well. Financial wellbeing is only one aspect of employment and you should consider other benefits such as the flexibility of working hours, opportunity for career progression or office perks.
Think back to when you first came across the position, what aspects of the role made you want to apply in the first place?
Ask yourself,
“Now I know more about the role, does this job provide what I want?”
What to do if you you’re not satisfied?
Asking for more time
Just with any major life decision, it’s best to not rush into it. Have a good think about if the role meets your goals and needs. If you need more time to think on an offer, it’s okay to ask for this.
Remember that employers have deadlines and timeframes to work within, so when asking for more time on an offer, it’s important to provide clear timeframes of when you will get back to them.
Don’t forget…
When asking for more time to review, ensure you express your gratitude for the job offer.
Negotiation
If you’re not entirely satisfied with your job offer, there may be room to negotiate. If you want to negotiate for more money, start by researching salaries to understand your market value like we discussed earlier. If your desire is focused on perks or benefits, write these down and provide information on why you would like these.
Tip 1:
You should always justify your counteroffer with facts and make sure it's reasonable. If you get too greedy, they may withdraw the offer.
You could say something like,
“Based on research and my interviews with other companies, the range for this role is $X-Y. Does that match your range?”
It would be best to avoid your previous salary as it’s not helpful; the value is about this job, not your previous ones.
Tip 2:
Another tip for negotiating is to ensure you don’t negotiate against yourself. This is where you might ask for a higher salary, but then say something like “but it’s okay if that’s not possible.”
Instead, show gratitude for the amount you’ve been offered, and then offer a range of your ideal salary and leave it at that. If you’re doing the negotiating in person, ask and then be quiet.
For example,
“Thank you so much for your generous offer. I’m so excited by the opportunity to work together. My target compensation is $75,000. Is it possible to close the gap?
But remember…
With starting any new job, you don’t want to focus solely on how much money you can earn and squeeze out of the company. So always bring the focus back to the outcome you can achieve together and the value you will bring to the company.
Ready to Accept?
Finally, trust your gut. Choose the company that values who you are and what you have to offer.
If you’ve negotiated your offer, then it’s important that both parties feel confident and positive about the outcome.
Before you start, anything that you discussed or negotiated should be in writing. For example, if there was an agreement that you would have a salary review after your first six months, make sure you’ve got this in writing.
Good luck 💪
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