How To Negotiate Job Offer - Advice Needed
I just got a great job offer. This is my first time moving companies since college and I have 5 years experience. It's a better title as well as much better comp than my current package (But they don't know that as we never discussed).
I've heard you should always negotiate offers and standard range is to shoot for around 10-20%. I asked for a few days to think it over. I'm thinking about saying I'm very interested in the role and asking for a 15% increase on what was offered. Assuming they always lowball with the first offer?
I'm anxious about killing the whole thing if this is handled incorrectly. What are the risks of this blowing up and getting my offer rescinded?
If negotiating is the right move, any advice on how to approach the conversation?
Thanks!
Whenever you try to negotiate higher comp, it’s important to have data to support your ask. Your only data point is much lower than the current offer. You should take the money and be happy. Re-negotiate after a year when you’re crushing it.
Or throw out a job description, comp number, city, remote work policy, size of company, etc and some users here might be able to tell you if the offer is above/below market
No, firms don’t always lowball the first offer, not sure where you heard that. As an example, we have a set comp we give for junior roles (usually years 1-5) and we don’t negotiate on that (it is based on market research, competitors, etc).
As has been mentioned, throwing out 15% more without a reason and data to back it up isn’t a good idea. You risk looking foolish. Why do you think 15%? Just because? What is the market rate?
The other thing to consider is: what does that 15% get you? If it is the “right” number (I.e., market to above market rate) then you risk getting off on the wrong foot. If it is the “wrong” number then you should negotiate to make sure you get fairly paid, but this needs to be backed up by something.
I’m not suggesting you go into this scared that you’ll lose your offer so you just agree to whatever a firm throws your way, but it is impossible to say with the information you are giving. The assumption that firms always lowball isn’t right (it IS right at some places and not at others, so I can’t give you good advice on that). Do your research, find out if this is fair, and then decide. If it is fair, you’ll have plenty of opportunities to prove yourself and get paid more.
This, my current firm asked me what I was seeing while interviewing, all above my previous role. I told them the salary range for jobs I was stretching for since the market was hot. My current company came in and hit the top of both my Salary ask and Bonus. They even asked what end-of-year bonuses I was leaving on the table. They made it right. Companies aren't always stupid and lowballing people.
They do expect you to negotiate, but most won't budge a ton, so up to you if you want to. I don't think if you came in with data points and comps they'd kill the deal. They'd say no. They have people all the time negotiate.
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