Any time you’re applying to work for a new employer or are looking forward to a promotion with your current employer, you should realize that you’ll be given a job offer with a set of terms. In the offer package, you’ll get more information on your benefits, the compensation for the role and other terms.
This arrangement may be discussed verbally or on paper. For your benefit, it’s better if you can get the offer on paper, so that you have a copy of it for the future.
Negotiating for more
Some people worry that by negotiating for more compensation for a role that they will be passed up or refused the position after all. It is your right, however, to seek payment that aligns with your education, skill set, career level and experience.
It isn’t rude to negotiate for more money. In many cases, businesses actually pitch lower offers, because if they can get the employee they want at that rate, then why wouldn’t they? If you don’t feel that the pay is commensurate with your experience or the role you’re planning to take, then making a counteroffer is a good idea.
In one survey, it was determined that around 70% of managers do expect their candidates to negotiate the pay rate. Knowing this, you should be aware that it is normal to ask for more. If you pitch too high, the company will either meet you somewhere in the middle or refuse and offer the original amount.
When should you negotiate your employment contract and pay?
Generally speaking, it’s best to negotiate your employment contract and pay after you receive an offer. At that time, you will have the most leverage to try to get more out of your potential employer.
You don’t have to rush to respond to an offer, either. If you are given an offer on the phone, ask if you can call back shortly with your response. Replying on the same day, or within 48 hours, is usually best, but it’s always reasonable to take time to consider your options before you reply to the offer.