DON’T UNDER SELL YOURSELF: OFFER NEGOTIATIONS
The interview process has gone exceptionally well and you have been advised that you can expect an offer. Before you begin to celebrate, remember the importance of negotiating the right salary or contract rate, the process might not be as simple as you first thought.
Some points to consider:
You don’t have to accept the first offer. Rejecting the first offer is completely acceptable and is sometimes expected. As much as a client wants you in the role, they also want to save money and spend their budget wisely.
Refer to the original salary or contract range. Before interviewing for the role, did you ask what the salary or contract range was before you interviewed? If so, refer to your notes and determine where your expectations sit within the range.
Do your sums. Emotions can run high when you are expecting a job offer, the prospects of a new exciting challenge can interfere with logical decision making. I recommend that you sit down and work out what your cost of living is and the other expenses you have. This will help guide your negotiation.
Set a minimum limit. Following on from doing your sums, set a minimum expectation. What is the lowest rate or salary you can comfortably live with? Once you have determined this, you will know your walk away point.
Justify your worth. If you are going to reject an offer, it is important to explain why. It could be as simple as saying: “given your expertise and the expert experience that the business will be receiving the current market rate is X and they need to raise their offer” OR “ given the more senior nature of the role, the increase of people you will be managing and increased workload, you feel it justifies a higher salary such as X.”
If you can, go to the source. Negotiations can be difficult, especially when there are multiple people involved. To simplify the negotiation, the best solution may be to speak with the decision maker directly and come to a mutual agreement.
As a rule of thumb, understand what salary or contract rate is on offer from the start and if working with a recruitment consultant, confidentially tell them what you are looking for. Try and avoid a knee-jerk reaction, most if not all offer, come with a 24-hour cooling off period, so take some time to consider what is right for you.
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Written by Sarah Moorhouse
BT People (www.btpeople.com.au) Experienced and expert recruitment for your IT/ERP system Business Transformation projects. APSCo Certified