If you think that the most difficult part of an interview is when the salaries are discussed, we believe you. Often, candidates get stuck at the end of the interview when money matters are discussed. Many candidates noted that they cleared the rounds that demanded expertise in their subject matter but found it difficult to negotiate their salary structure. One can say they could not counteroffer salary.
This inability can cost you either your job if you don’t agree to work on their offer or can cost you your self-esteem if you agree to work on their terms by lowering your standards. In fact, companies use this as a tactic and try to judge you on your ability to negotiate. Just how, on being asked if you have any questions, you are always expected to ask them a question. Similarly, you must always counteroffer on being offered a salary package because negotiating salary is a skill. You need to show the company not just that you possess the skill but also that you know your worth.
Most times, your ask and the company’s offer won’t match, but if you are the right candidate for them, there is no reason why they would not want to consider finding a middle ground.
Here are a few ways in which you can ask or at least keep the conversation about negotiating the salary engaged.
What Does a Counteroffer Mean?
A candidate who has applied for a certain position in a company and is appearing for a job may disagree with the salary offered for the post. This happens when a candidate feels that the salary offered shall not suffice for them, the company is not adhering to the industry standards or justifying the candidate’s prior experience and expertise in the field.
In such a situation, candidates can always request the initial offer to be reconsidered, or they can even ask for a specific amount that they expect in the form of remuneration. They can do so both verbally or in written format. In today’s world, candidates write an email regarding this issue most of the time. In this email, they formally thank the company for providing them with this opportunity. With a reasonable and logical argument, they ask for their salary offer to be reconsidered. They may also focus on their past experience and expertise to make their request more relevant. It is up to the management or the hiring authority to accept, reject or negotiate the counteroffer.
Things to Do Before Negotiating your Salary
To be better able to negotiate with the company about the prospective salary for the position that you have applied for, it is better to be better prepared from the very beginning. To begin with, you should be aware that many employers will offer you much lower pay than the current market trend, as they think that you will accept the offer anyway.
You can take your time and do some research regarding the salary range for your position. Be absolutely certain about the other opportunities related to the position you are applying for and the future scope of the position you are applying for. Focus more on the statistics and facts and try to explain how your inclusion will benefit the company. And, if the company is not ready to compromise and offer you a higher salary structure, be sure to ask for other benefits. Following these steps will help you better negotiate the position with your prospective employer.
Things Not to Do While Negotiating the Salary
It might surprise you that more than half of the employers will try to negotiate your salary, especially if you are a fresher and looking for an entry-level job. This requires tough negotiation on your behalf, but there are a few things that you should also keep in mind while negotiating your salary.
To begin with, it is not very advisable to argue relentlessly or aggressively, or the employer may reject you right away. Instead, you should maintain the tone while talking and make the recruiters realize your worth. Besides, you should have the willingness to negotiate about your salary. Lastly, it is not recommended to bluff, especially if you can’t afford to leave the job offer.
Things To Do to Counter Offer Salary
There are certain things you should avoid while negotiating your salary, as we just warned you about. Meanwhile, you can also do some things to make the process easier and more seamless. We will talk about all the things you can do to ensure that the conversation turns toward this topic and you get to find a smooth passage.
1. Do Your Research
Your negotiation skills also depend upon the amount of research you have done on the salary expectations and offer in the industry. For example, you need to find out the market standards for a particular role. Now, this may depend from company to company, yet you should have a brief idea of what to ask for in order to get the desired salary. Also, looking up the company and its functioning will give you a rough idea of how much they’d be willing to offer. This will help you raise your expectations accordingly and then fix the desired figure in your mind.
2. Look at Their Offer
Begin by defining your own goals and setting your standards below, which you will not be able to for anyone under any circumstances. Alongside the basic salary structure, your company might want to provide you with some additional benefits.
If you are fine with that, you may discuss this with the company. However, for whatever reasons, if you do not want to be reimbursed in terms of extra benefits, you can let them know that it won’t be possible from your end to continue on their terms.
3. Keep your Emotions at Bay
Whether you like or dislike their offer, please do not give them a window to your feelings about the offer and stay as calm as possible. If the employer discovers that you are willing to work under their terms and are satisfied with their offer, there will be no room for discussion.
At the same time, expressing dissatisfaction with their offer can eliminate your prospects of receiving an offer. Therefore, you want to keep your options open for negotiations. Also, you want to keep the window for discussion open till the last moment.
4. Make Your Offer
Once you know that there isn’t anything left to discuss, you can directly move on to making your offer. Don’t hesitate in speaking your mind if you think you are going to ask for what you deserve. It is necessary to demonstrate to employers that you are aware of your skills and the contribution you will make to their organization for them to realize your worth.
You have to show them your value because they are going to try to downplay your role in the company and try to lock the deal in the lowest salary possible. Yet, if you are determined enough to show them your potential, they might make the deal on your counteroffer.
Some Points to Remember
- If you are a fresher, you might have to agree to their terms initially. But you can always discuss with them that you’d like to work on their terms for some time, and based on your performance, they can give you a much-deserved raise.
- If you are switching your jobs and you can convince them of the reasons for making this shift, you can also clearly let them know that you expect a hike from your previous salary.
- If you have all the necessary skills and good experience in the job field you applied to, you can let them know exactly how much hike you are expecting.
Be confident about your skill sets and allow the interviewer to get to know about your potential. Be confident, allow your interviewer to make their offer, and then you can directly discuss your counter offer. Once you know your own worth, it won’t be difficult to negotiate your terms and conditions.