Negotiating a job offer in today's slowing labor market requires smart tactics, and it's important to remember that your ego is not your ally.
Should job hunters accept an offer without negotiating items like salary or remote work, even if the labor market is slowing?
Not necessarily, say career experts.
Despite the decline in job growth and increase in unemployment, the macro level may not determine if negotiation is impossible for you.
As a career coach and CEO of Fire Memos, an app for tracking work accomplishments, Octavia Goredema advises that the performance of your industry, regional trends, and your career stage all play a role in determining your career path.
The approach to finding a job that aligns with your preferences will differ depending on whether you are actively seeking employment or being approached unexpectedly.
Here's how to tackle job negotiations in this current labor landscape.
List your priorities beforehand
Goredema advises making a list of compensation must-haves, "nice-to-haves," and nonnegotiables before any conversation with an employer.
"Get really clear with yourself," she says.
Goredema emphasizes the importance of having priorities in order before negotiations, as each individual has a unique list of needs and wants.
Some people prioritize salary, paid time off, and workplace location when considering a job, while others focus on job title, specific duties, signing bonus, or other perks as deal-breakers.
You can use your preferences to filter your job search and to inform your discussions with a prospective employer.
Gather information early
It is recommended to clarify the parameters of the role, such as salary range and flexible work options, early on in the screening process.
Stefanie Fackrell, an HR consultant, advises against going through an interview process just to be rejected at the end because you requested remote work.
From the beginning of the conversation, it's important to be honest and open, as she advises.
Instead of expressing a strong preference for a particular arrangement, it may be more effective to inquire through open-ended questions, suggests Goredema.
What is the company's stance on remote work and how do you see it evolving in the future?
Rewritten sentence: Assess whether the employer's response aligns with your must-haves and nice-to-haves to determine if the role is worth pursuing further.
How to counter an offer
If your preferred job arrangement isn't a complete deal-breaker, Goredema suggests continuing the interview process until you receive a job offer. Having an offer in hand gives you a "much stronger" position to negotiate the terms of your employment.
She advises thanking the person for the offer and complimenting the opportunity before stating what you're bringing to the table before making a request.
Goredema advises that early-career professionals should not feel intimidated when discussing salary negotiations with hiring managers, as they will "fully expect" it.
Approach the conversation with positivity, engagement, and enthusiasm. Be authentic and then express your desire to discuss compensation or any other aspect you're negotiating.
The more a company wants you, the stronger your negotiating power.
Know how far you're willing to go
Goredema advises understanding what a win would look like for you before entering a negotiation.
She advises thinking through all possible answers before responding.
It's crucial to show positive and professional demeanor during negotiations, as Goredema advises.
Fackrell advises job applicants to set "realistic expectations" in this "very, very competitive" labor market. If you're excited about a company, the role, and where it could take you in your career, she advises against turning down an offer over a few thousand dollars in compensation if salary is your top priority.
"Employers have the upper hand," Fackrell remarks. "Your self-esteem is not your best friend."
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