When we work with our partners, we pride ourselves on helping candidates navigate the interview and hiring experience with ease. Solidifying and fine-tuning details during offer negotiation can be a delicate and even emotional process.
We've learned through experience that several steps can help make the process smooth and easy for both sides. Our recruiters operate by a set of guidelines and are here to help you negotiate offers effectively. We put together a guideline on the best practices of offer negotiation, and how to approach changing or negotiating your offer (working with a recruiter that has your back always helps!).
Best Practices To Successfully Navigate Your Next Offer Negotiation
When you've received an offer from your new company and consider negotiating that offer, you need to be realistic in your point-of-view. Do your research and determine an acceptable or "normal" range for your asking salary. For example, if you have a $100K offer, asking for $150K is unrealistic. Be reasonable about your level of expertise, educational background, and the market pay for your years of experience.
Now, if you truly believe that you deserve a higher salary or rate,find ways to back it up. Be logical and support your argument. For example, one reason to justify higher pay is if your new benefits package is more expensive than at your last position. As a result, your new salary would cause you to lose money because of this difference.
If you have other offers or outside influences swaying your decision, that can play a factor in your negotiations. If slight modifications to an offer would swing it over the line, connect with your recruiter. Being upfront can help your recruiter craft a counteroffer that's as appealing or accommodating as possible. We strongly recommend bringing this up through a recruiter versus talking directly to the company.
Understanding that your recruiter should be the connection and supporting voice when negotiating an offer can greatly shape the direction of adjusting an offer you would like to accept. It is our job to provide this exact kind of communication. Avoid throwing any new information or desires into the mix at this point because it can potentially jeopardize your opportunity. Again, always rely on your recruiterto help approach these conversations.
Sometimes when dealing with sensitive and important details during offer negotiation, tensions can arise. Both you and the company are trying to start a new relationship on the right foot. Everyone wants to feel like they are getting what they deserve. Recruiting partners can help maneuver these conversations with optimism because everyone wants this hire to happen.
Always remember why you're searching for a new position. There are reasons you are attracted to the current company, including the team, culture, and project. What you are doing day-to-day is ultimately more important than a few thousand dollars more, if you really want to work with these people.
With that said, there has to be some give and take with offer negotiation. It's also okay to negotiate, but it should be handled carefully with thought and supporting reasons. Typically, compromising over demanding will get you the best results.
Put Your Best Foot Forward
Before you decide to create a counteroffer, make sure you're aware of the nuances between a direct-hire offer and a contract offer. Contractors do not get the typical employee benefits provided by the employer, while a direct-hire is usually gets a W2. A W2 employee will not need to pay the employer's part of their taxes as opposed to a 1099 contractor. We outline this in more detail here.
Contract and full-time offers are not the same. Contract work doesn't include insurance, paid time off, retirement, etc., and is determined based on a set amount of time or project completion instead of a permanent hire with a benefits package.
Overall, the more details you can provide to your recruiter, the better. Recruiters are designed to help you get the best offer possible. That's why we need to know everything you're considering and going through to help you find the right position and get the best offer possible. You've gone through several interviews, so all of your concerns and desires should be at the forefront. Don't throw brand new information into the mix when communicating with hiring managers. Let your recruiters be your advocate and handle difficult questions or ask for you.
Other Factors to Consider During Offer Negotiation
Additional advice from our recruiting manager includes:
Don't accept an offer on the phone if you plan on making adjustments or changes
Look through an offer thoroughly before accepting — we recommend taking notes so you can ask any questions for follow up
If you're currently working, be prepared for a counteroffer from your employer — it's very common
To elaborate more on the last bullet, if you get an offer from a new company and give your two weeks at your current position, often companies will up the ante to not lose folks. Keep this in mind because ultimately, you will end up back at the same reasons for leaving that job, despite the increase in pay. Always remember why you were looking for a new position in the first place, and best of luck negotiating your offer!
Here at BWBacon Group, we know and live what you are experiencing as an employer or job seeker in Denver, Boulder, Dallas, San Francisco, New York City or any of the other cities we work in. We believe great recruiting starts and ends with understanding people.
If you have any questions about living, working or playing any of the areas we serve, please contact us. We are happy to help. Seize the day, every day, that’s what we say!