5 New Basics of Negotiating a Job Offer

For most job seekers, the Great Resignation pastime of playing three potential employers off one another to maximize compensation and perks is likely over. Over the last year, many employers have cut back significantly on both hiring and compensation.

That’s why it’s all the more important to negotiate once an employer extends an offer. According to Fidelity Investments, 58% of young professionals don’t negotiate their job offers, but 87% of those who do receive additional compensation—an average of $5,000.

We polled some of our career coaches for their top nuggets of advice for anyone negotiating a new job offer.

Don’t fear negotiations.

Are your palms getting sweaty about asking for more money when you haven’t even added any value yet? You’re not alone. Negotiating can feel even scarier to some people than interviewing does. But it’s an important skill to have in your toolbox.

For many roles, negotiation is a critical skill. After all, the worst thing an employer can do is say no; they’re very unlikely to rescind the original offer just because you’ve asked for more, experts say. “Negotiate with positivity and professionalism,” urges Sunny Levitt, a leadership coach at Korn Ferry Advance. That means steering clear of a personal or combative tone, and never using “I want” or “I need” statements.

Never give a number first.

Employers often will ask what salary range candidates are looking for. Experts recommend you avoid answering that question. If you suggest less than the employer had in mind, you may inadvertently be lowballing yourself. “Don’t give a number first; instead, ask their budget,” says Angela Galle Sylvester, a career coach at Korn Ferry Advance. “Remember, when negotiating, you are looking at the total compensation, not just the annual salary.”

If you must give a number first, give yourself an out in case you need to change it later. “Add something like, ‘Based on what I know about the role so far…’ in case new information is presented,” says Michaela Buttler, a senior consultant and executive career coach at Korn Ferry Advance.

Back up your ask.

Do your homework so you can justify the number you’re asking for with data, both from the market and your experience and results. “Remember that employers need your talent, skills, expertise, experience, and good character just as much as you need fulfilling work and a paycheck,” says Val Olson, a career coach at Korn Ferry Advance.

“Never base the compensation for a new role off your last job—and you don’t have to share that information,” adds Buttler.

Don’t rush.

You can always ask for time to consider, so don’t feel rushed to accept or reject an offer right off the bat. “Remember that most salary negotiations are not synchronous. There will usually be some back and forth over email,” Olson says.

Negotiate like you’re on the same team—because you are. They have a need, and you can fill it. They’re not offering you money out of charity. “If they can’t offer as much in one area, ask about the other benefits they can provide, such as equity, bonuses, a cell phone, gym membership, commuting benefits, education reimbursement, et cetera,” Buttler says.

Know your worth.

Be clear on what you will and won’t accept. “It’s very important a candidate knows their ideal compensation package and the point at which they’ll walk away,” says Alyson Federico, a career coach at Korn Ferry Advance.

If an offer is too low and the employer won’t budge, “don’t take a low offer out of fear, if you can afford to extend your search,” Olson says. 

For more expert career advice, connect with a career coach at Korn Ferry Advance.

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