Negotiating for salary and benefits that match your value is an essential part of growing in your career. Whether it’s for a promotion or an initial job offer, you want to make sure the offer being extended reflects the value of what you will be bringing into the role. There are some easy ways to go about being prepared to receive and negotiate a job offer, and the first part is centered on knowing what you need.
The main parts of an offer include salary and benefits. A common oversight is that people focus more on the hourly rate or salary. While this is an important point, benefits such as insurance options, investment plans, and other perks add value to an offer that promote overall well-being. So, going into discussions concerning the offer, be prepared with what you want. It’s also important to be aware of what a typical salary and benefits package would be in the industry, taking into consideration the cost of living for your area. Should you be taking a remote role or one where you will willingly commute, these factors help determine whether the offer is a fair and viable option. Knowing the averages for the industry in your area arm you with the knowledge you need to feel confident accepting an offer or holding out for negotiations with the employer.
In researching industry averages, it would also be helpful to find information or ask people in the industry what their education and experience adds to the role. For instance, if the average yearly wage for someone in your prospective position is $70k a year, what qualities do the people on the higher end of the range possess? Does more education add incentive for a better offer, or does experience make a bigger difference? Learn what the company values and what the hiring managers look for. Having a transparent conversation with the hiring manager can make a difference. If you have qualities that typically lead a candidate to be paid more and that isn’t reflected in the job offer, it could be the position isn’t right for you, or the company isn’t able to make an offer that you’d be comfortable accepting.
Everyone wants to be paid fairly and it is very possible that there could be money left on the table if you aren’t armed with the numbers to compare the offer with what’s possible. Consider your role. What is the responsibility expectation? If the role includes more ownership than you’ve previously taken for a job, but the offer doesn’t reflect that, asking for clarity may lead to wiggle room in the pay range. Other considerations don’t necessarily have to do with monetary value, but rest. Extra vacation days for a position that’s more intensive may be available if your needs match up with the business’s values. Health insurance options may also be available if the expected hours for your role are flexible, and the employer is willing to work with you based off the unique qualities you bring to the table.
When you accept an offer, it should ideally be after consideration and weighing what the average offer is for your role. Using these tactics will help you accept or negotiate an offer with confidence, knowing that your value should be reflected in the offers extended to you.