“Let us never negotiate out of fear. But let us never fear to negotiate.”
– JFK
- When an employer extends a job offer, they’ll usually present you with a compensation and benefits verbally or in writing with a proposed salary.
- If you don’t feel the pay aligns with your education, career level, skill set and experience, you may choose to negotiate!
- You may also suggest another form of compensation, such as equity or stock options, or additional perks such as extra vacation days.
- Knowing your employer fairly compensates you also contributes to job satisfaction and overall happiness at work. It’s how they show they value and appreciate your efforts.
- Despite this, most people are reluctant to discuss compensation. According to a Salary.com survey, only 37% of candidates always negotiate their base salary when they accept an offer of employment.
- As a result, they could forgo up to $500,000 by the age of 60. The numbers aren’t better for existing employees. The same survey found that only 12% take advantage of an annual review to discuss a higher salary, while 44% never bring it up.
- The main reason for holding back? Fear and a lack of know-how. That’s unfortunate because the odds favor success, whether you’re making a counteroffer on an initial salary proposal or requesting a raise.
- In most cases, yes!
- Employers expect new hires to negotiate compensation packages, and when a candidate makes an attempt, they’re successful 85% of the time.
- The success rate is nearly as high for existing employees, with 70% who request a raise receiving one.
- It’s in your best interest to give it a shot!
