CH Classics: How to Negotiate a Job Offer
6 practical tips to get the compensation you deserve
A Career Hackers' Classic, read the full post here.
Imagine you’re sitting in an interview. You’re a bit nervous, especially if you are a beginner.
You have prepared some answers beforehand.
“Tell me about yourself?”
”What are your powers and weaknesses?”
”What are your working habits?”
You’ve got all the basics covered.
But when it comes to negotiating your terms - a different kind of nervousness and anxiety hits you. You want to be compensated well, but the whole situation is making you feel uncomfortable, anxious, and intimidated.
You know that pushing through momentarily discomfort is going to pay off.
But ..How? How do you negotiate?
On Deck sat down with David Patterson-Cole from Moonchaser.io, a company that provides negotiation support for job seekers who have just received an offer. David shared great tips for how to approach negotiation.
Here are some key points on “How to Negotiate a Job Offer”:
- Figure out your market value.
Do your research on what a typical offer looks like for someone at your position, in your industry, or role. Getting insight from current employees or acquaintances in similar roles is enormously helpful.
- Develop your strategy.
Walk into the interview with a strategy in hand. Your strategy is your leverage. With leverage, you can negotiate terms better. Having a job-hunt strategy is crucial.
- Clarify your tactics.
Basically, Create a plan to continue the conversation if and when you get stonewalled. Remember, the hiring manager is not your enemy, you have to work together as partners!
- Prepare for the conversations.
Figure out how to set up the initial ask, address pushback, communicate where you’re at with other processes, and respond to counteroffers. An interview is, after all, a conversation.
The conversations you’ll have in an interview will be comfortable. They aren’t your regular day-to-day talks. So, get better at them! Practice with a friend, in front of a mirror, and practice what you’re going to say during your negotiation calls.
- Prioritize base salary and equity over other perks.
Many companies offer some non-monetary benefits. Some offer equity, some offer gyms or other perks. Better to clarify them during the interview!
A powerful excerpt from the blog:
Find your point of leverage. Companies negotiate when they’re scared of losing you! You will always have more leverage if you have multiple offers or at least are in the process with multiple companies.
Read the full post here
On Deck First 50 Fellowship is a career transition accelerator for professionals interested in startups. Our #1 goal is to help you find more fulfillment and alignment through work.
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