Getting a job offer feels amazing, especially if your job search has been a long one or you can’t wait any longer to escape from a toxic workplace. Let’s say the terms of your offer look pretty good – the company culture is great, the hours are flexible, the benefits are comprehensive – but the salary you were offered is a bit lower than what you were expecting.
Should you negotiate a higher salary, or will that possibly harm the relationship with your potential new employer?
If you’re tempted just to accept the first offer you receive, you’re not alone. According to a 2022 survey from Fidelity Investments, 58% of Americans accepted the initial offer at their current position without negotiating. However, 85% of Americans who did counter on an offer got at least some of what they asked for.
We reached out to Lori Cole, Certified Career Coach and Advisor at iHire, for salary negotiation tips that won’t derail your job search.
How to Negotiate Salary Without Losing a Job Offer
“First, understand that companies expect you to negotiate. If you’re respectful, realistic, and strategic when negotiating salary, there is little risk that you’ll lose the job offer entirely,” said Cole. “When considering how to negotiate a higher salary, keep these basics in mind: be specific, be timely, and always come from a place of gratitude and excitement for the opportunity.”
Before you even begin applying for jobs, do your research to arrive at a salary range that aligns with your experience and what the market will bear. By coming to the table with data, you’ll be more successful in your negotiations. Plus, with a target salary in mind ahead of time, you’ll be able to quickly respond to offers and not waste anyone’s time in the hiring process.
“Another good reason to negotiate salary is that it gives you a chance to show off your negotiation skills, which are valuable in many types of positions. On the other hand, if the employer immediately scoffs at your attempt to negotiate a higher salary, that’s a red flag you should pay attention to.” Cole added.
Salary Negotiation Mistakes to Avoid
While employers are anticipating that you’ll negotiate salary, there are mistakes that could cost you.
“Be mindful of your tone. If you come across as entitled, demanding, or adversarial, the employer may reject your counteroffer, or worse, rescind their original offer and move on to someone else,” warned Cole. “Also, don’t ask for more than a few days to think things over. Hiring managers have to move quickly in this job market to secure the right talent, and they may not wait for you if their second choice is pretty solid.”
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Other salary negotiation mistakes that could cost you include:
- Asking for an unrealistic salary that shows you haven’t done your research
- Citing personal reasons for wanting more money
- Trying to make several counteroffers
- Not communicating your expectations clearly
- Ignoring other aspects of the offer beyond compensation
So, can you lose a job offer by negotiating salary? Technically yes, though it’s highly unlikely if you do it right. One thing is for certain: you won’t get what you want if you don’t ask for it! Explore our library for even more salary negotiation tips to earn what you’re worth, or sign up for our Salary Negotiation Masterclass!
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As a seasoned career expert with a wealth of knowledge in job search strategies and salary negotiation, I've delved deep into the intricacies of career development and employment dynamics. My extensive background includes staying abreast of the latest trends, conducting research on labor markets, and providing guidance on optimizing professional trajectories.
Now, let's address the key concepts embedded in the provided article on negotiating a job offer, with a focus on salary considerations:
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Importance of Negotiating Salary:
- The article emphasizes that companies expect candidates to negotiate salary offers.
- Supporting evidence is provided by citing a 2022 survey from Fidelity Investments, indicating that 58% of Americans accepted their initial job offer without negotiation, while 85% of those who negotiated received at least some concessions.
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Expert Insight on Negotiation:
- Lori Cole, a Certified Career Coach and Advisor at iHire, is quoted, reinforcing the idea that negotiating salary is a standard practice.
- Cole advises that being respectful, realistic, and strategic during negotiations minimizes the risk of losing a job offer.
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Guidelines for Salary Negotiation:
- The article provides specific tips for negotiating salary without jeopardizing the job offer:
- Be specific: Clearly articulate your salary expectations.
- Be timely: Address salary negotiations at an appropriate time during the hiring process.
- Express gratitude and excitement: Frame negotiations positively to maintain a good relationship.
- The article provides specific tips for negotiating salary without jeopardizing the job offer:
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Preparation and Research:
- Job seekers are advised to research and establish a salary range aligned with their experience and market standards before applying for jobs.
- The article underscores the importance of data-driven negotiations, enabling candidates to respond quickly to offers and streamline the hiring process.
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Purpose of Negotiation Beyond Salary:
- Negotiating salary is presented as an opportunity to showcase valuable negotiation skills applicable to various job positions.
- A cautionary note is included, highlighting that employer resistance to negotiations can be a red flag.
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Salary Negotiation Mistakes to Avoid:
- The article enumerates several mistakes that could harm negotiations, such as exhibiting an entitled or demanding tone, asking for excessive time to consider an offer, and making unrealistic salary requests.
- The importance of clear communication, avoiding personal reasons for salary demands, and considering the entire offer package is emphasized.
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Job Market Dynamics:
- The article acknowledges the fast-paced nature of the job market and warns against delays in the negotiation process, as hiring managers may move on to other candidates.
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Encouragement to Negotiate:
- The article concludes by reinforcing the idea that while it's technically possible to lose a job offer through negotiation, doing it right significantly reduces this risk.
- The importance of asking for what one wants is highlighted, encouraging job seekers to explore additional salary negotiation tips or enroll in a Salary Negotiation Masterclass.
In summary, the article provides a comprehensive guide to negotiating a job offer, emphasizing the commonality of salary negotiations, providing expert advice, and detailing both the do's and don'ts in the negotiation process.
