When you reach the final stage of the interview process, and you feel an offer is coming your way, you can’t help but attach a dollar figure. Some students even envision their worth before this point, sometimes even before graduating. So, what happens when the offer is lower than expected? Is there any room for negotiation?
“During tough economic times like we are in now, all candidates, but especially entry-level candidates, should understand that employers will be less likely to be willing to negotiate compensation packages because they face an abundance, not a shortage, of well-qualified candidates. The employer holds the negotiating power,” Steven Rothberg, president and founder of
CollegeRecruiter.com.
Now, if you don’t have another offer on the table (which would be a strong negotiating chip) but strongly feel you are worth more, here are some tips:
1. Do your homework. Know what the salary range for the position should be. I personally recommend checking
Glassdoor versus other salary sites because real people provide their real salaries for all to view.
2. Request the offer in writing. An offer is never really an offer unless it’s in writing. Request 24 hours to review the paperwork and consider the entire package.
3. Reaffirm your interest. “Reinforce how much you want to work for the company, but mention that other opportunities will pay your desired salary. For example, you might say, ‘I’m really excited about this position, and I think I’m a great fit for the company, but I don’t think I could afford to take less than my minimum of $45,000. I have several other opportunities that are in my range, but I’d really prefer to work for you. Is there any way we could work this out?’” Alexandra Levit, author of “
How'd You Score That Gig? A Guide to the Coolest Careers and How to Get Them.”
4. Ask if negotiation is possible. “Inquire pleasantly about the company’s general compensation philosophy and what the thinking is with regard to entry-level pay. Then, ask whether there is any opportunity to revisit the initial salary offer based on his or her particular qualifications. By the way, it is usually a good idea to take some time to think about a job offer before accepting,” said Maryanne Wegerbauer, author of “
Next Day Salary Negotiation.”
5. Consider all benefits, not just salary. “If an employer is unwilling to budge on salary, they may be open to negotiating other perks and benefits, such as flex-time or work-at-home privileges, that won’t cost the company much money but are still valuable as part of the total compensation package,” said Rich Milgram, founder and CEO of
Beyond.com.
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