Following the nerve-wracking interview process, an extended job offer letter affirms your determined efforts by accepting you, your talent, and your skills.
First off, congratulations!
A test of patience and determination, the interview process feels all worth it upon acceptance, however, when the forecasted salary offer comes up short, there is something you can do. Learning how to properly negotiate your salary after reviewing an offer letter is crucial to ensuring that you can accept your new role with confidence.
While maintaining an adequate level of finesse, write
a reply letter or email asking about your desired salary. The technical term for this type of letter is a counter-proposal offer.
In a nutshell, you’re countering the company’s initial offer with one of your own. A standard business practice, counter offering may feel intimidating, but keep in mind the worst they can say is no.
Include this in your counter offer reply
Because this is a response to a job offer, ensure to express gratitude in your reply-after all, you do want this job. In reality, most employers actually expect that you will negotiate with them.
In your reply, remember to assert the proper tone and conversational balance with your counteroffer to ensure smooth negotiation and standards of respect.
Here’s a sample breakdown of what your reply might look like:
1. Greeting: Simply address the hiring manager in a polite manner
2. Gratitude and excitement: Thank them for their offer and express what a great fit you feel like this role is for you.
3. Disclaimer: State that unfortunately, the salary is lower than you were expecting.
4. Explain your position: Reiterate your qualifications, value, why you’re passionate about this role, and current market rate pay range for the role.
5. State your counter offer: Explain that you would like to counter their salary offer, then state the dollar amount you’re seeking.
6. Re-state excitement and gratitude: Again, express your enthusiasm about the potential of working with them and how much you look forward to all that this opportunity would bring.
7. Ending: Leave room for further negotiation by stating that you would be happy to discuss the subject in further detail if they would like.
Tips for a successful negotiation
While the outline above serves as a template in organizing your counter offer response, it’s up to you to bridge the gaps by providing viable information to convince them that you’re worth the specified amount of money. Keep the following tips in mind as you approach this negotiation.
Do your research
In part of proving your worth as an employee, (with regard to salary expectations) research market rates and industry standards to explore what others in your position would be making at a comparable company.
Backing up your counteroffer with this information further helps employers understand why you’re seeking to be paid at this rate and may convince them to accept your offer. Or at the very least it can help them meet you somewhere more in the middle of their offer and your counter-offer.
Detail Your Value
By highlighting your capabilities and relating your skillset to your desired salary, demonstrate why you deserve to be paid more than what they were initially willing to offer.
In this step, leave no stone unturned when brainstorming ideas to present. Do you have a specialized skill that other potential applicants did not? Have you taken extra coursework to sharpen your skills? Do you have recommendation letters from former employers you can leverage? Any valuable assets you can bring up to remind them of why they picked you over other applicants is worth revisiting.
Make it a win-win
In the same way that you explain how valuable your skill set is, you want to highlight how the company will benefit from hiring you. Just like you want to feel valued, they want to feel like they’re getting a good deal as well. How can you make the company paying you this amount worth their while?
Express enthusiasm and gratitude
Emphasize your enthusiasm to the company by expressing your excitement to work for them. Acknowledge your desire for this job while navigating the fine line of establishing your worth.
Explicitly state that you’re thankful to have been offered this position to show that you understand they had a choice in who they decided to hire. You think they made the right choice, you just want to negotiate the finer details of their salary offer.
Ask for a higher salary than you really want
By setting your counter-proposal offer at a slightly higher dollar amount than you desire, you can better meet in the middle if they come back with their initial offer.
Be willing to negotiate additional benefits
Even if the initial salary is unnegotiable, you may still be able to haggle in terms of additional company benefits. Properly performed, you can make up the difference in your desired pay from what the company wants to pay you. Perks like additional paid time off, different health benefits packages, and a flexible schedule can usually be negotiated.
Decide what you’ll do if they say no
While you’ve followed the proper procedure in delivering your counteroffer, you have a decision to make if the employer says no. Ultimately, you can walk away from the job offering unequal salary or accept the company’s initial offer despite your counter.
Because only you know what is worth accepting salary-wise, this will be a personal decision depending on your requirements and preference-factoring in benefits, the job market, your industry, and other variables. But, before you press send on your counter offer proposal, have a plan in mind to reference what you’ll do in the event that the company wants to hold firm on their original offer.
Composing a proper offer letter requires demonstrated research in current market, industry trends, location, and so much more. However, just because a company gets back to you with an unfavorable proposed salary, you can leverage your own abilities and knowledge to write your unique counteroffer. Admittedly, this may require additional insight. Our team at MCDA CCG, INC, provide cost competitive services in assisting individuals and businesses framing both offers and counteroffers. Backed by years of experience in a wide array of industries, you can ensure ultimate satisfaction. Contact us today!