If you know how to negotiate lowball salary offer you could have a great advantage over other job candidates.
No matter what stage of life you’re in, you need to know how to negotiate lowball job offer.
You can use the following techniques to get a better deal at the table.
How To Negotiate Lowball Salary Offer
This conversation help identify your values and advance professionally.
Work-life balance, health benefits, work flexibility, bonuses and retirement are all important facets of an offer negotiation.
They are investments in yourself and your career growth.
1. Are You Truly Lowballed?
Before concluding you are being lowballed, you need to know the average salaries are in your field. If you don’t, do your research. You could use websites such as Salary.com, Glassdoor.com, and PayScale.com to establish the average market rate.
If you happen to know people working at this company, discreetly pick their brains on the subject. You can be sure to find information which will be more specific than what you’ll find online.
Even if they won’t reveal their exact salary, they may be willing to give you an average range for a given job or department.
Once you have done your homework, you should have an idea of whether you’ve received an unusually low or average offer. If the offer turns out to be generous by industry standards, you should not hesitate take it.
Great Video About Low Balls Offers In Workplace
2. Be Firm And Persuasive
Don’t just state your desire of say 15% higher salary or permission to work from home one day a week. Explain precisely why it’s justified. This will go a long way to convince the hiring manager to consider a higher pay. However, if you have no justification for a demand, it may be unwise to make it.”
You should resist the temptation to prove that you are a great negotiator. Fighting to get just a bit more can rub people the wrong way. It can limit your ability to negotiate with the company later in your career, when it may matter more. Be calm and learn to give and take.
3.Ask For a Rationale
You can’t decide whether or how to negotiate if you’re flying blind. You need to ask the hiring manager how the company arrived at the offered salary.
Start by saying that you’re very interested in the job, so your hesitancy isn’t interpreted as lack of interest.
Politely mention that there’s a gap between what they offered and what you were hoping for. Tell the employer you’d like to understand how they arrived at their number. Maybe you’ll learn that this salary is pegged to your education or other training, your experience, or your former salary.
In some cases, like the public sector, the salary is pegged to a bureaucratically determined pay schedule. Whatever you learn, it will be helpful in determining your next steps.
4. Compensation Based On Performance
In many cases, employers frequently use individual incentive bonuses. Ask the potential employer if they can provide you with performance-based bonuses.
It will be good to know how frequently they are paid out. If you cannot get a higher base pay, you may still able to make up the difference by asking for a larger individual incentive bonus.
However, you should be carefully not to overate your skill and end up not getting the at bonus at all!
5.Shorter Time Frame Between Reviews
Organizations are increasingly attempting to link pay to performance(source). If the organization can’t pay you the base salary you want, negotiate for a shorter salary review time.
Better still, shorten the transition time from probation to full-time employment.
You might also want to convince the employer to review your salary based on performance. This way you can showcase your skills and earn higher increment.
Your excellence, dedication and self-improvement while giving the company value will pay off.
6.Cite Specific Evidence For Your Counteroffer
Decide what your ideal number is. You may want to establish an acceptable but don’t stop there. Give specific reasons like your advanced degrees/training, your accomplishments at your last job, any special skills/contacts that will help you flourish in your new role.
Focus on what value you will bring to the company and the requirements of the new role.
However, you should be careful not to mention your last pay especially if that pay was low. If it helps to move the ball, are they willing to give you additional responsibilities—and a more senior title—for a salary bump?
If the hiring manager can’t or won’t budge, then it’s time to look at other benefits that might offer some flexibility. Can they offer extra vacation days? Maybe a performance review in six months rather than the company’s standard 12 (with the possibility of a raise if it’s positive?)
What about expenses, or a signing bonus that won’t officially appear as “salary”?
Aim to get maximum benefit that will shield your base pay from your expenses. In real sense, it may end up being commensurate to a higher pay!
8. Be willing to walk away
What if the hiring manager won’t budge, and you know for a fact that you’re truly being lowballed? You can still take the job, but beware that this could be a red flag.
A business that doesn’t value its employees or pay the industry standard is likely to have a strained work environment.
In such cases, he best thing you can do is to politely bow out of the situation. There is no way that a company which takes a winner-take-all mentality towards new hires is going to be a good place to work at.
Ask a few follow-up questions to establish if the company can afford what you need compensation-wise to do the job. If they can’t, it’s perfectly fine to walk away.
Don’t Forget Your Goal
Don’t let success go to your head. If the company does offer you more money, it may be tempting to get greedy and ask for extra vacation days, too. Please don’t.
You’ve gotten what you wanted (or some of it, anyway). So be gracious. Remember, you’re setting the tone for an ongoing relationship. Find A Career you love and Good luck out there!