Candidate should NEVER accept the first salary offer. ALWAYS NEGOTIATE! (2024)

FAQs

Candidate should NEVER accept the first salary offer. ALWAYS NEGOTIATE!? ›

Accepting the first offer may prevent you from negotiating in the future: Once you accept an offer, it may be difficult to negotiate for a higher salary later on. By negotiating at the outset, you have the opportunity to secure a salary that meets your financial needs and reflects the value you bring to the company.

Just as experts often advise job candidates to never accept an employer's first offer for a salary, an employer may counter your desired salary with a new number. You can choose to accept the employer's counter offer or negotiate further.

Never accepting the first offer isn't about being unreasonable; it's about striving for the best possible deal. It's a testament to the art of negotiation and understanding the psychology of business dealings. Remember, the first offer is just the beginning of a dialogue that can lead to mutually beneficial agreements.

Money is the most apparent reason to negotiate your salary, but there are several other reasons why you should talk numbers during the hiring process. The workplace is competitive, and if an employer has already gone through the hiring process with you, it is in their best interest to seal the deal.

Thank you for your interest in joining our company. We appreciate the time and effort you have put into the application process. After careful consideration, we have decided to accept your counter offer. We are happy to match your salary request of $ [X] per year.

“Accepting the first offer may mean that you haven't fully explored the market and might be leaving money on the table,” Napolitano explains. “If you receive a strong offer early on, it's possible that there could be other buyers willing to pay a higher price.

As a rule of thumb, avoid saying yes to the very first offer. Most hiring managers will have an approved salary range for the role. Just like you won't give your bottom-line salary right out of the gate, hiring managers avoid starting with an offer at the top of their salary range in this job market.

So, can you lose a job offer by negotiating salary? Technically yes, though it's highly unlikely if you do it right. One thing is for certain: you won't get what you want if you don't ask for it!

Because of the inherent ambiguity of most negotiations, some experts suggest that you should wait for the other side to speak first. By receiving the opening offer, the argument goes, you'll gain valuable information about your opponent's bargaining position and clues about acceptable agreements.

Bottom line: Don't accept a job offer unless you know 100 percent it's what you're looking for. Still, there may be legitimate reasons to continue interviewing even after accepting another offer. You decide to get closure on the other opportunities.

What is a reasonable counter offer salary? ›

If the salary offered is within the low range for similar positions, consider an initial counteroffer 10-20% higher, and if the salary offered is within the average range, consider a counteroffer 5-7% higher. In addition to compensation data, you should research the cost of living for the area you'll be working in.

Feel free to adjust it to your liking: “Thank you so much for the offer. I'm really excited about the company and the role. I want to be upfront with you that the salary is lower than I was expecting based on my skills and experience.

Provide them with incentives on why the job is worth it, even if it is below their salary range. This could be anything from health insurance, bonus and commission opportunities, job advancement opportunities, culture or other additional benefits.

Suggest figures that are a little higher than your goal. That way, your starting pay will be more likely to meet your expectations. Put it in writing. Even if you're discussing your offer with a recruiter in person, be sure to bring a counteroffer letter for them to review later.

Subject: Thank you for your time - let's stay in touch!

Unfortunately, we cannot proceed further with your recruitment process because your salary expectations exceed the budget allocated for this position. Your application has generally left a positive impression on us.

The First Offer May Not Reflect the Business' True Value

If you accept the first offer without negotiating, you're most likely leaving money on the table that you could use for your retirement, give to your family, or use for your next business venture.