Top secrets to landing a higher job offer
Understanding how to negotiate a higher job offer is a professional skill that executive job seekers need to master
Understanding how to negotiate a higher job offer is a professional skill that executive job seekers need to master. When executives interview, it’s imperative to go in knowing what they want as a salary as well as having plenty of proof they are worth it. Many go in without this and it costs them dearly. Here are top secrets to getting a higher job offer that executives should follow.
Why you need to negotiate – and the message you send when you don’t
To negotiate or not to negotiate…that is the question. The right answer is to always negotiate. It’s important to be prepared to state a range, present evidence for why you are worth what you are asking for and be primed to promote your achievements to optimize your compensation from the start.
This is the secret high achievers know. They don’t wait to be offered a great salary. Instead, they ask for it and present proof as to why it is warranted. They position themselves and their accomplishments to negotiate the maximum possible compensation. When you consider that with every dollar you negotiate now, it will affect raises in the future, you can see the importance of doing so.
Do your research and know a number prior to the interview
Applicants are never safe from employers hiring at the best salary for them — not the highest salary the candidate wants. Job seekers always need to be prepared to make their case. So how do you determine what you are valued at in the marketplace? Sites like salary.com, payscale.com and the Bureau of Labor Statistics will be able to shed light on what individuals in your field are making, as well as how the salary varies based on location and length of experience.
The universal rule for determining your worth at work
Another way to determine your worth is to consider this: Does the employee make more money for the company than they cost the company? That’s it. If the prospective hire shows they will bring a higher return on investment (ROI) to the company if they invest in them, that’s a good sign. Here are some ways employees can prove their worth:
- Ability to attract top-tier, in-demand talent
- History of retaining high-performing employees
- Use of skills to automate processes that lead to higher efficiency, lower costs and increased profitability
- Best practices for cash management
- Discovering new markets or new ways to market existing products/services to create new profit streams
- Create measurable goodwill that translates to profitability (long-term or short-term)
The key takeaway here is to go into a negotiation proving your worth to the company so they see what they can gain by investing in you, and what they will lose if they lost you. Do not go into a negotiation hoping seniority, loyalty and lengthy years of experience will bring you the big bucks.
Shifting your mindset to job-performed-value
It’s important to shift your interviewing presentation from a past-salary mindset to a job-value mindset. So many go in asking for what they made at their previous position. However, it’s best to go in and negotiate based on the value you bring to the table.
Aim higher than the minimum salary you’ll accept
Most people will low-ball themselves at the first opportunity. They think they are being humble, when they could have made more money. Combat this by taking the minimum salary you’ll accept and aiming higher. The worst that could happen is they tell you it’s not possible, at which point you begin negotiating. If this does happen then at least you know it probably won’t go any lower than your minimum requirement.
Believe you’re worth the big bucks
This may seem trite, but it’s one of the biggest issues people face when negotiating. If you want the big bucks, you need to believe you deserve them. You can’t let yourself get bogged down by stories of the economy, what the interviewer might think of you, what other candidates have said, or where the company may stand financially.
The reality is that you don’t know how much money the company has or what the interviewer is thinking. You also don’t need to worry about what other candidates have said – the important thing to remember is why you’re the right fit for the job and why that merits the money.
Know how to interview with confidence
Sure, you know that you need confidence, and the importance of telling CAR (challenges, actions, results) stories, but what helps is doing exercises to help you dive deep into your experiences and present them in a crisp, factual way. Regardless of what your resume says, exuding confidence is an intangible ability that will set you apart from the pack of interviewees. Enter your interview with carefully planned, perfectly prepared stories to tell that will leave your interviewers jaw hanging and in doing so, will increase your chances of demanding a higher pay.
Why you should get more once an offer is made
Once an offer has been made and you are trying to aim for a higher amount, be prepared with reasons behind it. Don’t make the critical mistake of saying you’re the best person they’re going to find for the role. They gave you that initial offer based on the fact that you are the best person for the job, but you aren’t providing additional information as to why you deserve more. Go into the interview prepared for this question with not only an amount, but also the exact reasons and evidence you deserve more.
Avoid being too needy
Too many job seekers are contorting themselves into a pretzel to desperately please a hiring manager. This notion is even worse with experienced job seekers. Nothing is more nauseating than an experienced person groveling for love from an employer. When you seek approval, you seem needy. That’s not the way to get respect from an employer. So cut the crap; you have skills, you have achievements, you have so much to offer and stop brown-nosing hiring managers.