Should I negotiate my offer? (1st Year Analyst)
I recently received an offer as a development analyst that seems well below market based on a past offer I received. Should I negotiate? My other offer was at a major LifeCo in a bigger market so not sure if that's the reason for the discrepancy.
No
Really bad look imo
Poor take. Always negotiate, but like stay thirsty mentioned to do it respectfully. Negotiating even 5-10% above what was initially offered can have positive long term financial effects when OP goes in for annual review/raise. Negotiating and development go hand & hand, and it would be a good sign to see a junior guy attempt to negotiate granted his claims are logical and not emotionally driven.
Yes, always negotiate but make sure to do it in a respectful way. Employers expect a back and forth on salary so it won't reflect poorly on you, if done correctly.
Mention how excited you are for the role and to working with the team but ask about flexibility for a higher performance based bonus while citing industry compensation reports. Since you're a student, you can mention heavy student debt burden and how the last thing you want is a starting salary to impact your ability to accept the job you want.
Frankly, given the market volatility likely economic impact of everything to come, I wouldn't do anything to risk the position. The job market is not going to be looking good until everything gets back to normal.
This. If I were a current senior in UG I would take a development analyst position in a heartbeat. Many of your peers will probably have a hard time securing a job.
Yes, it shows your employer that you know how to negotiate and sell yourself.
why are you at a developer at this point in the cycle....lifeco great place to be and you can do workouts when the market goes south.
the lifeco work was mind numbing and if I can make the switch now and do what I’m more passionate about I’m going to do it
As someone with 15 years work experience and 7 in commercial real estate. You need to understand, no job for the first 3-4 years is super interesting, let alone mentally rewarding. It is about the skill set you will learn, the number of "reps" and deals on your resume which will lead to the best, most exciting and financially rewarding opportunities of your life when you are in you late 20s.
Your job as a first year(incoming), in this recession is to live to pay the game another day. If our end goal is to b a developer, you can't be that when you are fired/laid off. The experience you will get in 1-2 year will allow you to apply for that job at hines/REPE/etc in development. All this while mitigating the downside of the hand you were dealt regarading graduation datess.
You need to negotiate because that's simply what you do, but I agree that in this climate it is incredibly risky to push too hard, or even push at all.
Don't overplay your hand.
This is my own personal experience so take it for what it is worth. But my starting salary in the appraisal world was offered at $50k. I said something similar to stay thirsty above and said I was very excited about the opportunity and if they could come up to $55k I could start as soon as they needed me. They met me half way and reiterated some of the other benefits they were offering. As it was my first real life job or professional experience, I accepted right away. After I started, I found out the job was actually budgeted for $60k but they knew that I had no experience so they weren't going to offer me the top end of the range right off the bat.
The big takeaway is this - it is okay to ask for more provided you do it in a respectful manner and you are honest with what you bring to the table. If a company rescinds a job offer simply because you ask if a salary is flexible, do you really want to work for that company any way?
Update - After speaking with many people and weighing the pros and cons I decided not to negotiate the offer. My thought process was that while I think it’s likely that I could negotiate for more money I didn’t think a few thousand dollars more was enough to risk a job I really wanted at this stage in the cycle. Plus I believe in myself enough that once I prove what I’m capable of achieving I’ll regain leverage and be in a much stronger position to negotiate later on.
So this morning I got up early and accepted the offer. After not hearing anything back for 8hrs I finally got a call from the VP saying they were rescinding my offer due to the uncertainty in the market and feedback from their capital partners. Obviously disappointed at the moment but I understand their position. Currently not sure exactly what to do with everything frozen. If people have any advice I’d welcome any help.
Thanks!
Wow. Sorry man.
is the lifeco job stil on the table?
No, the offer expired in September a few weeks after my internship. Looking back it may have been a safer idea to accept that offer but hindsight is 20/20 and I’ve been very close on a few positions that align closer with my interests and just not had any stick. At this point, I will be lucky to find anything in the next few months but I’m okay with trying and failing I would not have been okay with just settling in that position.
Wow.
I’m sorry to hear that. Let us (the RE forum) know if we can help in any way.
Currently in a hiring freeze and recession. It's going to get bad. Get any job you can and ride our the storm.
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