Negotiating a better overall package when offered a job
Trusted Circle Founding Partner Alok Nagpal has over 25 years experience in the recruitment world, and has unrivalled expertise when it comes to negotiating a job offer. Here, he gives his thoughts on how to get the right package:
So you’ve been offered a job but slightly disappointed in the overall package being presented… (assuming it’s a job you want of course!)
Firstly, well done – it’s a great position to be in and clearly the prospective employer would like you to come on board and join the team. A lot of time has been spent on both sides to reach this point.…company research, preparing/ attending for the interview(s), taking time off work and from the employer’s side – reviewing your CV and taking the time to meet you, discussing your application with colleagues & HR and putting an offer together for you. This is a critical point in the recruitment process and how you handle your response in terms of your message, requirements and speed will be key to ensure a positive outcome.
Bigger Picture
It is human nature and understandable to ‘want more’ when offered a position, however, there are many aspects to consider before asking for an improvement.
There is often good reason for the salary/package being offered e.g. existing salary structure constraints or areas for development picked up during the interview process. It could be a really good career move for you, so be open to seeing the bigger picture and taking the long term view. Therefore sometimes, it is better to accept the offer and prove your capabilities once you have joined. Take advice from colleagues / friends or from your recruitment agent. The rewards should come later.
However, if you have genuine reasons that you can justify and present fairly, employers will generally try to accommodate your needs where possible.
Keys principles for a successful negotiation
Know your figures and be open. If asked the question at about salary at interview, be prepared and include a breakdown of your current benefits, if appropriate. With a complete understanding of your current package, the employer is more likely to offer you at least a comparable package.
When applying through an agency – again, give full details of your current package to include any bonuses, pension details, gym memberships, share options, promised pay rises or promotions. A Recruiter should be able to advise if your expectations are realistic and pre-empt any issues before the application process starts. It also enables the Recruiter to advise or negotiate on your behalf before an offer is officially presented.
If applying direct and the offer is less than what you were hoping, you need to handle this one especially carefully. Sounds basic but first say thank you for the offer. If the package does not meet your expectations, it is important to confirm your interest in joining the company (if applicable) and give a breakdown of your current package and requirements for you to accept. (It may well be that an oversight was made when putting the offer together so well worth doing this as long as you are polite.)
Give guidance on your expectations. Negotiations are not about making demands. Be flexible in approach.
If applying through an agency and asked at interview, be consistent with what you’ve said to the Recruiter! Inconsistencies can call your character into question and be detrimental to your application. On a few occasions over the years, I have seen employers retract offers, so please be consistent.
No situation is ever the same but if you follow these basic principles, this should hopefully lead to successful conclusion. Good luck!
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