Receiving and Evaluating the Offer
When you get a job offer, thank the person who made it and ask for time to consider it. Here's what to look at when evaluating:
Salary
Check if it meets your expectations. If not, consider whether other benefits might compensate.
Benefits
Examine the full package, including health insurance, dental, vision, paid time off, and retirement plans. Calculate their total value to see how they enhance the offer.
Restrictive Covenants
Be aware of any Noncompete, Non-Solicitation, or Nondisclosure Agreements. Understand how these might affect your future opportunities.
Decision Timeline
Find out how much time you have to decide. If you need more time, communicate this with the hiring manager or HR rep.
Other Components
Consider job title, responsibilities, work locations, and growth opportunities. Sometimes these can offset a lower salary.
Work Environment
Think about hours, travel expectations, company culture, and remote work possibilities. Know your deal-breakers before deciding.
Flexibility
See if there's room for negotiation on various aspects of the offer, not just salary.
Getting a Written Offer
Request the offer details in writing to help you evaluate everything at your own pace.
Accepting or Declining
Once you've made your decision, notify the employer by phone first, then follow up with an email.
Professional Etiquette
Important: If you accept an offer, be prepared to commit. It's unprofessional to back out later.
Research and Preparation for Negotiation
Before negotiating, arm yourself with knowledge and clear goals:
Research Average Salaries
Examine market rates for similar roles in your industry and location using websites like Glassdoor, Payscale, and LinkedIn Salary Insights. Verify data with multiple sources and industry insiders.
Understand Benefits and Other Compensation
Look into common benefits like health insurance, retirement plans, stock options, and bonuses for your role.
Identify Your Priorities
List your must-haves and nice-to-haves, ranking them by importance. This could include:
- Health insurance
- Advancement opportunities
- Work flexibility
Gather Justifications
Compile evidence to support your requests, including industry benchmarks and your unique value to the organization.
Practice Your Pitch
Role-play your negotiation conversation with a trusted friend or mentor to boost confidence and prepare for different scenarios.
Plan for Different Outcomes
Consider various scenarios and plan your responses. Know what alternatives you'd accept if your initial requests aren't feasible.
Be Ready to Walk Away
Determine your minimum requirements and be prepared to decline politely if the offer falls short.
This preparation increases your chances of securing a better offer and enhances your negotiating skills for future opportunities.
The Negotiation Process
Approach the negotiation with enthusiasm and gratitude for the offer. Be clear and specific about your requests, maintaining a professional tone throughout.
Address multiple issues simultaneously rather than one at a time. For example, discuss salary, vacation time, and remote work flexibility together.
Avoid common mistakes like focusing solely on salary or failing to justify your counteroffer. Back up your requests with data or examples.
Stay patient and give the employer time to consider your requests. Be understanding if they need to consult with higher-ups.
Incorporate flexibility into your strategy. Consider compromises that can create a satisfactory package for both parties.
Keep the big picture in mind. This negotiation is about setting up a mutually beneficial working relationship. A balanced approach helps secure a better offer and lays the foundation for a successful tenure with your new employer.
Making the Decision
When evaluating the final offer, consider:
- Financial compensation: Ensure the negotiated salary and benefits meet your needs and align with market value.
- Work environment: Reflect on the company culture, team dynamics, and leadership style. Do they match your values?
- Organizational culture: Consider work-life balance, diversity and inclusion, and growth opportunities.
- Sustainability: Envision your long-term career progression within the company.
- Location and logistics: Factor in commute times, travel requirements, and how these align with your lifestyle.
If accepting, express your decision professionally:
- Call the hiring manager to convey your excitement.
- Follow up with a formal email summarizing key points of the offer.
If declining, do so gracefully:
- Make a courteous phone call expressing appreciation and explaining your decision.
- Send a professional follow-up email.
A thorough evaluation followed by clear communication sets a positive tone for your career journey, whether with this company or elsewhere.
Making a well-informed decision about a job offer is crucial for your long-term career satisfaction. By carefully evaluating all aspects of the offer and communicating clearly, you set yourself up for success in your new role. Research shows that employees who negotiate their job offers are more likely to be satisfied with their jobs and have higher salaries over time1.
- Marks M, Harold C. Who asks and who receives in salary negotiation. J Organ Behav. 2011;32(3):371-394.
