Author: Lori Waddell

Step 7: Negotiating The Offer

Why is Negotiating The Offer Important?

Negotiating an offer of employment is important in making sure you are getting compensated for the experience you will bring to the role. The most common component negotiated in an offer of employment is salary. Your ability to negotiate your starting salary is based largely on how well you did in the interview.

Basic components of an offer:

• Salary
• Bonuses
• Comprehensive Benefits Package

Salary

There are 3 salary points to consider;

• Base salary
• Midpoint
• Top of the range

The 3 salary points of a position allow for raises based on performance. Starting at the top of the range means you can immediately fill all requirements and come with more expectations. Starting at the base or midpoint allows you to grow and learn in your new role which can lead to salary increases later on, be realistic about where you are.

Bonuses

The bonus structure is generally tied to the level and function of your role. It is only occasionally negotiable.

The important part of any bonus is knowing:

• The average payout
• How much is tied to your performance
• How much is tied to the company’s performance

Comprehensive Benefits Package

An employer will usually offer medical benefits through health insurance. Not all health insurance plans are the same.

Comprehensive benefits package generally offer:

• Dental insurance
• Vision insurance
• Life insurance
• Short-term or long-term disability insurance
• Paid vacation time
• Paid holidays
• Sick/personal leave time
• Retirement savings plan
• Profit sharing
• Tuition reimbursement
• And more depending on the company

Some elements can be negotiated, and some elements are directly tied to your position level or job function.

When to negotiate?

If the job meets your criteria, but the compensation does not, then it is time to negotiate. Treat it like a counteroffer. You will need to write it down being clear and specific on which components need to be increased. You will need to clearly communicate your value in a counteroffer.

Counteroffer Tips:

• Make sure you speak with the recruiter or hiring manager
• Show your gratitude for the offer and excitement about the role
• Highlight your ability to make an impact
• Be clear and upfront with your counteroffer

Note

• If the first offer was below 20% of what you were looking for, an increase of 5% to 10% might be the only realistic option
• Your personal expenses and needs are not a factor here, only the value you bring to the role

Counteroffer Example

I am excited about this role and very grateful for the offer, I have confidence that I can drive results. I am eager to join the team and if we could get to [desired dollar amount] as a base with the sign-on we discussed, I’d accept and be willing to start right away.

Not Every Job Offer needs to be Negotiated

Consider 3 things before negotiating an offer:

• Does the offer I received meet my expectations? – If the answer is yes, there is no need to negotiate an offer.
• Am I currently unemployed and do I have the financial security to wait for another offer? – If the answer is yes, I am unemployed and no I don’t have the financial security to wait for other offers, then you might want to take any offer you get.
• Is my current job in jeopardy? – If the answer is yes, then consider your options if you should negotiate any offers.

Why doing the exercise is important?

Understanding what is negotiable will make sure you are happy with the offer you have accepted. Keep in mind what components are generally negotiable so that you don’t miss out on any opportunities you may have had.

It is important to be prepared if you are going to negotiate an offer. You will not only need to be clear in what you are asking for but be able to reiterate your value and show that you are their best hiring choice. Doing the work upfront will help you navigate this portion of the hiring process with ease. Use our Counter Offer worksheet to help you navigate an offer when you get one.

Review Past Exercises

Defining Your Focus

If you need to complete updated compensation information for the role you applied for.

Research what the low level, mid level, and high level compensation is for the job you applied for. What are you willing to accept? What components do you need to negotiate to reach your ideal offer?

What Makes You Great

This will remind them of why they want to hire you and how you will be a good fit for the team and will contribute to company goals, making you the best choice for the job.

Communicating Your Value

Sometimes you need to remind yourself of your value as the negotiating process can be hard. You are asking them to compensate you for your skills and experience earned over time.

Download the Exercises

Step 7: Create A Counteroffer

Step 7: Components To Negotiate

Step 6: Interview Follow-Up

 Why is Interview Follow-up Important?

First impressions don’t stop at the door when you arrive at your interview, your professional conduct before and after the interview gives the interviewer insights into who you are.

The interview was a chance for you:

• To learn about the role
• Gain insights into what is important to them
• Allow you to show appreciation for their time and consideration

Complete Your First Impression

Within 24 hours of your interview, complete your first impression by sending a “thank you” note or email to each person who interviewed you and helped you get the interview.

Doing this allows you the opportunity to:

• Continue the process
• Find out the next steps if they were not covered in the interview
• Build relationships with everyone who has assisted you
• Demonstrate your soft skills

It is also important to keep in mind that your employment urgency level may differ from their urgency level to fill the role. Along with conducting interviews, your interviewer has their day-to-day functions to worry about. Be patient here, second interviews can happen within days or weeks from your first interview.

Behind the scenes, they are:

• Seeking feedback
• Discussing impressions from the interview
• Discussing things with the hiring manager

These things take time so be patient and put your best foot forward by making sure to follow-up

Checking In

Depending on the role you have applied for and what is going on in the company, hearing back from the company has no timeline. Companies make hiring decisions very differently, don’t be afraid to check in if you haven’t heard anything for a few weeks. Checking in reminds them that you are interested in the job.

Why doing the exercise is important?

First impressions don’t stop at the interview, make sure you get the tips you need to complete your first impression by having a strategic follow-up plan.

Soft skills are an asset and candidates who demonstrate respect, thoughtful communication, and active listening skills will make a memorable impression. Following up allows you more points of contact and always allows you to demonstrate your soft skills.

Follow-Up Interview Tips

• Follow-up within 24 hours of the interview
• This is an opportunity to mention something you forgot in the interview or would like to expand on
• Make sure to use the name of the interviewer and the company name
• Be concise, clear, and straight to the point
• Make sure to proofread
• Make sure you have everything on hand if you offered a sample of work
• Keep paraphrases between 1 to 3 sentences

Download the Exercises

Step 6: Email Follow-Up Template

Step 6: Email Check-in Template

NEXT STEP >  Step 7: Negotiating the Offer

Step 5: Networking

Why is it important to network?

Networking is very important to your future career, sometimes it is not just enough to apply for jobs. Most jobs are obtained through employee referrals or networking. Networking is also a great way to gain mentorships from professionals.

2 Types of Networking

• Virtual Networking – which is networking with people who share the same goals or interests from all over and/or places like LinkedIn.
• Local Networking – which is making connections in your local community, understated but vital to your career.

When networking you need to consider

• Can this person help me?
• Do they have the ability to say yes?
• Can they connect me to the person who can say yes?
• Do they have the experience and knowledge I am looking to gain?
• Is this a meaningful connection?
• How can I bring value to them?

Personal Brand

It is important that when you are networking that you have developed your personal brand that can speak to people without explanation and makes clear what your interests are. The best place to display your personal brand is LinkedIn. LinkedIn allows you to control your narrative and make meaningful connections with industry leaders. Your personal brand can be built using the professional summary you did in a previous exercise.

Professional Contacts

A professional contact is somebody with whom you build a genuine relationship with around a common interest or goal. This is someone who you will get to know and you will want to allow them to get to know you. A very important point to remember is you never start with an ask from someone.

You first provide them:

• A follow/like
• Connect them to a resource
• Connect them with a contact of your own
• Connect them to a group or community

Professional Contact Management

A huge part of making sure your professional contacts are leading to networking opportunities is managing those contacts. An important way to do that is by keeping records of important information about these contacts by maintaining a spreadsheet.

You will want to keep track of:

• Where they work
• Family information
• Interests
• When you last spoke
• Ways you can help them

Check in with these contacts by saying hi every so often and sending a card for special occasions or holidays. Maintaining professional contacts allows you to have meaningful connections with those that might help connect you to an opportunity down the road.

When you do speak with a contact make sure to always:

• Thank them for their time
• Express your gratitude for the information shared
• Thank them for the connections made

Why doing the exercise is important?

Studies have shown that 80% of all roles are filled through professional contacts. Making sure to put time into connecting with people you already know by letting them know you are looking for work and connecting with people you don’t know who are in career fields or industries you want to be in. This can increase your chances of landing the job you are looking for.

Professional Networking Template

Use the professional networking template to reach out and build on relationships you already have or create new ones.

It is important to:

• Build a powerful network of genuine relationships
• Continually invest in others, like you would a friendship
• Don’t be afraid to reach out to people who are where you want to be

Professional Contacts Spreadsheet

Manage your professional contacts through a spreadsheet. This tool can help you throughout your career as it is a surefire way to keep and grow connections. It is not enough to just have a large list of connections if you know nothing about them or aren’t leveraging them in a meaningful way.

Download the Exercises

Step 5:Professional Networking Message Template

Step 5: Networking And Personal Contact Spreadsheet

NEXT STEP >  Step 6: Following Up On the Interview

Step 4: Conquer the Interview

 Why is it important to Conquer the Interview?

To conquer the interview, you first need to understand what an interview is and its purpose. Knowing the purpose of an interview makes it easier to plan and your only plan in an interview is to give them reasons to say yes to hiring you. You will need to demonstrate reason throughout your interview answers that show you have the capabilities and experience to deliver value to the company.

The interview has 5 parts:

1. Conversation
2. Questions
3. Closing the interview
4. Next steps
5. The follow-up

The Conversation

The interview is a conversation between you and the company to determine:

• If you can perform the requirements of the job
• Provide value worth compensating you for
• Possess the potential to do more than the role you applied for
• Evaluate your behavior/mindset
• See if you can fit in with the team

Tips on Conquering the Conversation

• How do you go about driving them to say yes?  – Results.
• How do you showcase the results you have accomplished from past performances?  – You lead with the bottom line first. Facts, figures, and measurables are what they want to hear from you.

Give the bottom line first and then answer the “why and “how”

• The “why” and “how” speaks to:
• How you collaborated
• Applied critical thinking skills
• Applied problem-solving skills
• Executed tasks
• The lessons you learned

Bottom line results are your objective assets, and the “why” and “how” are your subjective assets.

Evaluating your Behavior and Mindset

Evaluating your behavior/mindset will be questions around your subjective traits and will be asked in the form of hypotheticals. Sometimes these questions can come out of the blue or catch you off guard, take a few seconds to think on the question before you answer.

Make sure that your answers will:

• Highlight mindset
• Provide the BLUF (Bottom Line UpFront)
• Highlight your skills

Questions

Make sure that you have relevant questions to ask that help you define the role you are applying for. The best way to do this is to make sure you have read and reread the job description and research the company ahead of time. It is a good idea to come prepared with 3 to 4 questions that help you define the role but also allow you to further showcase your value and lead them to say yes to hiring you.

Everything you do in an interview has the goal of giving them reasons to say yes to you, even the questions you ask.

Question Pitfalls

During the first interview, it is not the time to ask questions that relate to anything other than performing the job. The first interview is to showcase yourself and why you are the best fit for the job.

Don’t ask about:

• Pay
• Time off
• Benefits

You will have time to discuss these important topics if you are selected for the position later.

Closing The Interview

What is the best way to close the interview? It is very simple and straightforward…express your interest. Leave no doubts in their mind that you want this job.

Next Steps

An important part of the interview and making sure that it ends on a positive note is asking for the next steps, such as:

• When can you expect to hear back?
• Who should you email for further instructions?
• Who should you coordinate with?

Also, make sure to ask for a business card. This further enforces that you want the job and are a forward thinker.

The Follow-Up

After every interview, it is still good practice to send a thank-you note or email for their time which gives you another opportunity to express your desire to become a part of their team.

Why doing the exercise is important?

By practicing common interview questions and questions designed to gauge your past behavior/mindset, you will develop useful techniques to frame your answers to showcase your abilities to perform the job you are applying for.

Remember:

• These questions are often accompanied by follow-up questions that will cover the “why” and “how” you accomplished a task
• Talking about yourself in a way that leads people to say yes is not easy, but it will get easier if you take the time to reflect on these common interview questions

This exercise will combine your answers in the previous steps. It is imperative that you write your answers to these questions and then practice them. Make sure to also be able to answer follow-up questions of the “why” and “how”.

Download the Exercises

Step 4: What You Want To Communicate Worksheet

Step 4: Common Interview Questions Worksheet

Step 4: Common Behavioral Questions Worksheet

NEXT STEP >  Step 5: Networking

Step 3: Communicate Your Value

Why is it important to communicate your value?

Communicating your value is extremely important in the job search process as it shows confidence in the abilities you gained through service.

Communicating your value is vital for:

• The interview
• Your resume
• LinkedIn profile
• Professional profiles on job boards
• Cover letter
• Other professional bios

Let’s Talk Resumes

Communicating your value on your resume is the most important thing because you need your resume to stand out and communicate your value with no further explanation needed. Your resume’s sole purpose is to communicate that you have the experience they are looking for and entice the hiring manager to set up an interview.

There are two basic resumes that hiring managers prefer, the functional resume and chronological resume. The most recommended resume type to use is the functional resume, although it is a good idea to have both on hand.

Resume Tips

• Resumes should be no longer than two pages, no matter what
• Make sure that your accomplishments, competencies, impacts made, and bottom-line results can be easily and quickly identifiable on your resume

Free Resources

• Sample functional resume, click here to download
• Sample chronological resume, click here to download
• Sample cover letter, click here to download

Why doing the exercise is important?

Being able to communicate your value in many forms only shows potential employers that you care about the work you do and value your own skills and abilities. This helps set you apart from other candidates. Taking the time to write down and commit to memory what makes you valuable to a potential employer can turn any networking conversation into an employment opportunity.

Complete this exercise and you will have done the work needed to:

• Communicate your value on a resume
• Turn conversations into employment opportunities
• Complete a LinkedIn bio
• Complete professional profiles on job boards
• Complete professional bio for cover letters and other uses
• Pick a resume type and build out a master resume with information from Step 2 and 3

Download the Exercises

Step 3: Professional Resume Summary Example

Resume Samples

Step 3: Chronological Resume

Step 3: Functional Resume

NEXT STEP >  Step 4: Conquer the Interview