You Got a Job Offer! Now What?
Securing a job offer is an exciting milestone! But the process isn’t over yet. The period between receiving an offer and accepting it is crucial for ensuring the role is the right fit and that you’re fairly compensated. Here’s what to do and the best tips for negotiating:
1. Don’t Say “Yes” Immediately (or “No”)
Even if you are excited about the offer, resist the urge to accept it on the spot. Align on a timeframe to make a decision with the recruiter.
2. Get the Offer in Writing
Always request the official offer letter in writing. This document should outline:
- Job Title
- Start Date
- Base Salary
- Bonuses/Commissions/Equity/Stock Options (if applicable)
- Manager
- Contingencies (background checks or drug screenings)
3. Evaluate the Entire Package and Ask Questions
While it is tempting to do, don’t just focus on the salary only. Consider the total compensation package and how it aligns with your needs and career goals.
- Health insurance costs, PTO, and retirement contributions can significantly impact your take-home value.
- 401k matching details and vesting.
- Performance review cycles and salary increase potential.
- Sign-on bonus or relocation assistance
- Expectations for the first 30, 60, 90 days.
Best Tips for Negotiating a Job Offer
Negotiating an offer is important. Just remember to approach it professionally and confidently.
1. Do Your Research
Use resources like Glassdoor, LinkedIn Salary, Salary.com, and industry-specific surveys to understand the cost of labor for the role and location of the offer.
2. Prioritize Your “Wants”
Before negotiating, identify what’s most important to you. Is it a higher base salary, more PTO, a sign-on bonus, or remote work flexibility?
3. Always Negotiate (Unless You’re 100% Satisfied)
Most companies expect some negotiation. Even a small increase can add up over your career. It is harder to negotiate after you start.
4. Be Confident, Positive, and Focus on Value
Frame your requests based on research and your own personal research. Never just say, “I need more money,”. Instead, try: “Based on my research and my compensation expectations, I am seeking X salary.”
5. Be Specific with Your Ask and Consider the Total Compensation Package
Provide a specific counter-offer value. If the company can’t meet your desired salary, explore other areas:
- Sign-on Bonus: A one-time payment to help bridge the gap in the offer and expectations.
- More Vacation Days
- Flexible Work Arrangements
- Tuition reimbursement or conference attendance
- Relocation Assistance
6. Use Other Offers to Support Your Negotiation (If You Have Them)
If you have a competing offer, leverage it to improve an offer for your desired opportunity. However, do so professionally and without making demands. For example: “I’m very excited about this opportunity, but I do have another offer on the table for $X. Is there any flexibility on the salary for this role?” Never lie about other offers as companies may ask for documentation to support this request.
7. Be Patient and Professional
Negotiations can take time. Follow up politely within a reasonable timeframe. Maintain a positive and respectful tone throughout.
8. Get Everything in Writing (Again!)
Once you’ve agreed to new terms, ensure all the negotiated points are reflected in a revised offer letter before you formally accept.
9. Know Your Walk-Away Point
Before you start negotiating, decide what your absolute minimum is. If the company can’t meet that, be prepared to politely decline the offer.
If you need help negotiating a job offer or want to learn more about compensation negotiation strategies, send an email to Rita Papaleo Ruiz at rruiz@kean.edu to request an appointment.
