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Weekly Tip #37: Tread Carefully When Negotiating the Terms of a New Position
You like them, they like you, and you are excited about the next chapter in your career. But ill-advised negotiations can sour the relationship very quickly. You need to navigate the terrain carefully when negotiating the terms and conditions of your next job.
- First, create a list of your absolutes or “must haves’. Then a list of “like to haves” or “would be nice to haves”. Don’t negotiate just to negotiate. Know what you need and what you would like in advance.
- Think through how to communicate and justify your position.
- Timing is important. Negotiations generally happen at the end of the process. Don’t ask about salary until it is established that both parties are invested in the process and like each other.
- If asked about your compensation expectations before you are prepared for the conversation, politely state that “it may be a little early to discuss, but my due diligence indicates that the salary range for similar opportunities is $— to $—. Is this range in your ballpark?”
- Understand the company’s constraints: most corporations have established salary caps that cannot be breached. But there may be other perks that are negotiable. Research the salary range in advance.
- There is a right and a wrong scenario for negotiations. Never negotiate via email. A real time conversation allows you to reiterate what they already like about you.
- Be creative: there are many non-monetary terms to consider such as remote working opportunity, stock options, signing bonuses, commute and childcare allowances, etc.
Remember, negotiating salary and negotiating a job offer are not the same thing. For more tips and tools to optimize your job search visit our website.