The tight job market is showing signs of easing up. Your diligent (and nearly maddening) efforts to secure gainful employment are finally being rewarded. Interviews have gone well and your heart leaps when you receive that big toothy smile and hearty handshake. You applaud yourself, thinking, "I did it, I’m actually being made an offer!" You have every intention of accepting and finally getting your "life" back on track.
As you savor your hard won victory, you feel a momentary rush of panic as a dozen questions flash through your mind, "Great, now that I have the offer, what do I do with it? Is this the right career move or a "knee-jerk" reaction? Should I negotiate the offer or accept it as presented? If I question anything will I risk having the offer withdrawn? Do I need to give them an answer immediately? Somebody help me please!"
These are all excellent questions that warrant further discussion. "Should you negotiate your best offer in a tough buyer’s market…and if so, how?" To assist in making this critical and highly personal decision, I offer the following thoughts:
- Keep firmly fixed in your mind that in this tight economy, hiring has been tedious and painstakingly slow for the employer (as well as for you). If time is money, then the decision to hire you has cost the company a lot. You are finally their hiring decision. You are "Numero Uno!" The prospective employer does not want to lose you and be forced to reopen the search. If you present your requests in a well thought out, reasonable and professional manner, they will work with you for a solution agreeable to both parties.
- Recognize that employers have more experience in the hiring "game" than you do and will work the emotional "high" of the initial employment offer to gain your quick acceptance. Also recognize that, even if reasonable, the initial offer is never the company’s best offer.
You might say, "Dan, that’s wonderful to hear, but how do I define my negotiation criteria and then establish an open forum for discussion? Frankly, the thought of saying anything still scares me to death." I agree, negotiating your own offer is not particularly easy or comfortable, but the long-term gain to your income and ultimate job satisfaction may well be worth enduring the short-term discomfort.
So go ahead and shake the employer’s hand. Reaffirm your excitement about joining the team and the quick contributions you will provide, however, do not accept the job offer until it is presented in writing. Ask when you might expect to see the specifics of the formal offer. Getting the offer in writing is not only a good business practice, but it also allows you to review the details in a logical manner, more detached from the adrenaline rush of the moment.
Odds are that you have done your homework on the company to determine its financial health, immediate challenges and contributions to the "bottom line" that you are being hired to provide. Factor this information into your negotiations strategy. For example, if they are emerging from lean profit years, you may elect to pursue a pay-for- performance bonus instead of a bump in base pay. You may also choose to reference a few salary surveys for added background information on recent trends…you can bet that the employer has! Now it’s time to write down and prioritize this list on paper. I emphasize, get this mass of swirling thoughts out of your head and onto your written worksheet! More
