Interviewing
Counter Offer? Here’s How—And WHY—You Should Negotiate Your Salary
Jul
So, you’ve landed a job offer—congrats! But, before you gladly accept, are you truly happy with their offer on your salary? This is a key factor to consider before signing on the dotted line and accepting that offer. Just like a job interview is intended to be two-sided, when someone presents you with a job offer—remember, this is the opening offer. It is in your very best interest to negotiate your salary with a counter offer. You’ve already secured the position, now, let’s learn how to secure some more $$$ on your paycheck.
The Truth About the Counter Offer
I’m going to let you in on a little secret. Honestly, when I was a recruiter, I had room 90% of the time to go up if the candidate asked. But, you know what? Three out of four candidates never asked! So, if this isn’t reason enough alone to counter offer—just keep reading, because I have valid reasons why you should counter offer on your salary offer.
It’s Not Considered Rude to Counter Offer Your Salary—It’s Smart!
If you know your worth and you have the experience, credentials, and savvy to get the job done in your new role, then you’re worth the money you want. That is, however, if you counter offer with a reasonable response. By countering with a negotiation letter, you are showing them that A: You’re interested and can already picture yourself in the role; B: That you’re serious and ready to get started, but want to find a common ground so that you’ll both be happy starting out. Negotiation is a powerful tool to have at your disposal, and hiring managers like knowing you possess it!
Not only that, but gone are the days of annual reviews with many companies. So, the truth is, if you accept an offer with a salary number where you’re not truly happy, then you’re not only selling yourself short, you could very easily face burnout fast by committing to a salary where you’re not truly happy. And if your company does do annual reviews, that’s twelve long months you’ll be stuck getting paid a number that you’re unsatisfied with. And worst of all? You only have yourself to blame for it if you don’t get the courage to speak up for yourself and ask.
The Worst They Can Say is No!
Like I mentioned above, if you present a counter offer letter that is concise, well-thought-out, and not outlandish, there is no reason why this would put your new job offer at risk. If anything, the hiring manager will be excited to see a take charge attitude in you. When you are giving a job offer, remember, the ball is in your court. If you’re worried about mustering up the courage to counter, this following stat might change your mind:
According to Glassdoor, it’s been revealed that the average American could be earning $7,500 more a year than they actually are. (I mean, just imagine what you could do with an extra $7,500/year!)
And you know what else? It’s been shown that men are more likely to counter an initial offer than a female is. We know that the gender pay gap is real, but it is worsened by this negative truth. Be bold, act bravely, and offer a counter to negotiate a starting salary that’s more in line with what you actually want—and deserve.
How Much Should You Counter Offer?
If you’ve reached the wise decision to counter offer, the first question you are likely asking yourself is just how much of an increase you should submit with your counter offer. For this, think in terms of percentages. As mentioned above, you have to be aggressive yet realistic. This is why it’s best to offer 10-20% higher. If you want to play it safe and this isn’t a six-figure position, consider going on the lower end. If you can bring a ton of expertise and experience to the table and it’s a high paying role, lean towards 20%. When submitting your counter offer letter, ensure that it sells your “why” in terms of the reason behind your request for a higher starting salary. The fact of the matter is, you’ll never know if you don’t ask. And how defeated would you wind up feeling knowing that you let financial opportunity pass you by simply because you were too afraid to ask? Be smart, counter offer no matter what!