Negotiating a job offer on your first ever interview can be a challenging prospect for most considering that you might be really close to landing your first job and even closer to losing it. Most candidates find the idea of making a counter offer particularly uncomfortable given the fact that although they want an equitable pay, they do not wish to come across as greedy. However, negotiation is the key to ensuring that you get compensated in accordance with your requirements, expectations, and qualification. That said, if you feel that a particular compensation offer does not align with your expectations and is lower than what you deserve, it is worthwhile to negotiate your way around to get a better pay packet.
What do you mean by a counter offer and should you make it?
In simple words, a counter offer may be described as an offer that is made as a response to the employer offer by a candidate. A candidate may choose to make a counter offer in the event that he/she is not satisfied with the offer made by the employer or landlord.
According to a survey, nearly 56 percent of the candidates choose not to make a counter offer when they are offered an employment. There are a number of reasons why candidates prefer not to make a counter offer such as the fear of appearing greedy, the fear of losing the job offer, the discomfort of asking for more money and so on. However, you might be surprised to know that while most candidates are not comfortable with making a counter offer, a majority of the employers actually expect their potential candidates to negotiate their salaries. Studies indicate that nearly 52% of the employers offer lower salaries than the industry standard to leave room for any counter offers from their potential candidates.
How to make a successful counter offer?
Here are a few smart tips that will help you make a counter offer to your employer in a more compelling manner.
Consider your market value
One of the best ways of making a successful counter offer is knowing exactly where you stand in terms of your market value based on your qualification, experience, skill set and so on. For instance, you may be a hair stylist looking for a job or a nail tech, research and find out how much these positions are worth in terms of compensation in the beauty industry. Through sufficient online research on job portals such as Glassdoor and the like, you can identify your worth in the market and use the information as a tool to make a compelling argument for your counter offer.
Check out the entire package
Your compensation is a comprehensive package that could comprises of a large number of components including your, insurance coverage, bonuses, vacation pay, PTO, flexible work hours and so on. That said, it is worthwhile to discuss with your employer all the perks that you will be entitled to apart from the paycheck. As such, you may also negotiate these perks to get a better deal from your employer.
Justify your request
Just asking your employer to make their compensation offer better is not going to get you anywhere. Instead, you need to present a solid argument to justify as to why exactly you deserve to get a better pay than what has been initially offered. You need to make your employer believe that you are worth the offer that you have made.
Include all issues in the negotiation
If there are multiple issues in your initial compensation offer that you would like to address, it is a better idea to propose all the negotiations in one go and not in installments. For instance, if your negotiated counter offers for a higher compensation has been accepted it would reflect badly on you if you return to the company negotiating for something else again.