One of the main goals of a job seeker is typically to find a role that aligns with their expected wage or salary. While so many receive the offer they expect the first time, others may need to negotiate if there’s room based on their skills and education.
Negotiating a job offer can be a delicate dance, and many job seekers stumble into pitfalls that can have long-lasting repercussions on their career trajectory. Unfortunately, many job seekers refrain from negotiating their job offers. But, a survey found that 84 percent of employers expect candidates to negotiate after receiving the initial offer.
Among those who negotiate, some tend to make a few common mistakes that could lead to regrets. Here are some mistakes you should avoid when negotiating job offers.
Failing to Research Salary Expectations
One of job seekers’ most critical mistakes is entering negotiations without a solid understanding of industry salary standards and company-specific compensation practices.
Before the negotiation begins, research the average salary range for the position in your location. Websites like Glassdoor, Payscale, and industry-specific surveys can offer valuable insights. Additionally, consider your experience, skills, and living costs in your area.
Ignoring the Total Compensation Package
Job seekers often focus solely on the base salary, neglecting the significance of the entire compensation package. This package may include bonuses, benefits, stock options, and other perks.
Evaluate the overall value of the offer, considering factors such as health insurance, retirement plans, flexible work arrangements, and professional development opportunities. Sometimes, a slightly lower salary can be justified by a more comprehensive benefits package.
Revealing Salary Expectations Too Early
Sharing your salary expectations prematurely in the hiring process can put you at a disadvantage. Many employees have regrets about their new job shortly after joining the company. Sometimes, a better salary after negotiation can help you avoid this feeling.
The initial stages of the interview process are designed for both parties to explore mutual interests. If the employer presses for a specific salary range, deflect the question diplomatically. Focus on showcasing your skills and achievements before delving into compensation details. Once the employer is convinced of your fit for the role, you’ll be in a stronger position to negotiate.
Neglecting Non-Monetary Aspects
Money is undoubtedly crucial in job negotiations, but it’s not the only one. Job seekers often make the mistake of prioritizing financial aspects while neglecting non-monetary considerations.
Consider the work-life balance, growth opportunities, company culture, and the potential for skill development. A study found that 83 percent of respondents would accept slightly lower pay for a better work-life balance, making this non-monetary aspect a priority for job seekers. So, a well-rounded negotiation involves discussing the paycheck and how the job aligns with your long-term career goals and personal values.
Lacking Confidence in Negotiations
Confidence is key during salary negotiations, but many job seekers struggle with self-advocacy. Negotiating is a standard part of the hiring process, and employers expect candidates to engage in it. Practice your talking points beforehand and approach the negotiation with a positive mindset.
Clearly articulate your value, drawing attention to your skills, experience, and any unique qualities you bring to the table. Remember, confidence is not arrogance – it’s about expressing your worth with professionalism and poise.