{"id":1053,"date":"2020-10-28T13:20:23","date_gmt":"2020-10-28T17:20:23","guid":{"rendered":"http:\/\/blogs.darden.virginia.edu\/careercorner\/?p=1053"},"modified":"2020-10-28T13:45:16","modified_gmt":"2020-10-28T17:45:16","slug":"always-negotiate-your-job-offer-yes-always","status":"publish","type":"post","link":"https:\/\/blogs.darden.virginia.edu\/careercorner\/2020\/10\/28\/always-negotiate-your-job-offer-yes-always\/","title":{"rendered":"Always Negotiate Your Job Offer. Yes, ALWAYS."},"content":{"rendered":"

Guest blogger Teresa Fuller (MBA \u201917)<\/strong> recently landed a sales management role at SalesIntel.io. Here, she shares her tips and recommendations for approaching new hire comp negotiations.\u00a0 <\/em><\/p>\n

T<\/span>he job-hunting process is no one\u2019s favorite pastime. By the time you finally receive an offer letter in cold, hard print, all you want to do is ink it and pop the champagne. You succeeded on this grueling search journey, so you might want to simply accept and celebrate. But you may be leaving money and benefits on the table. It takes discipline and confidence to negotiate a job offer. I am in sales and negotiate contracts for a living, and I\u2019m happy to share my perspective on how to succeed at what feels like a tricky process.<\/p>\n

Why Is It so Hard to Negotiate Your Own Contract?<\/strong><\/p>\n

A key point to remember is that your employer also just went through the same grueling process, but on the other side. They had to screen dozens of candidates, winnow the field, coordinate multiple interview rounds, spend hours away from their usual responsibilities, and ultimately achieve consensus on you<\/strong> being their top choice. So both sides of this negotiation are motivated to achieve the same outcome, a signed contract, and the discussions can be productive and perhaps even pleasant.<\/p>\n

Depending on your role, such as mine in sales, you may even want to negotiate just to showcase that skill. If I accept the first draft of this contract, what am I demonstrating to my employer? That I will accept any prospect\u2019s first draft of a contract or legal redlines? I often frame my negotiations as: \u201cI appreciate you taking the time to review these line items with me. As part of your team, you can expect me to be as thorough on behalf of this organization.\u201d When I requested a guaranteed variable for the balance of the year, my soon-to-be new boss said: \u201cSmart. I asked for and received the same thing, so I would expect we can honor that for you.\u201d Was he going to offer that up if I hadn\u2019t mentioned it? Never.<\/p>\n

Tips of Negotiating With Your Future Boss<\/strong><\/p>\n

Strive to negotiate directly with the key decision maker and recognize this is likely your future boss. Approach the negotiation with a tone of gratitude for his or her advocacy on your behalf to resolve your requests. The easiest way to present your request is to email a quick table or spreadsheet over to your boss or HR \u2014 after giving them the verbal heads up that there are a few areas of the offer you were hoping to review together.<\/p>\n\n\n\n\n\n
Contract Terms<\/strong><\/td>\nOffer<\/strong><\/td>\nRequested Revision<\/strong><\/td>\n<\/tr>\n
Title<\/td>\nVP of Sales<\/td>\nSVP of Sales<\/td>\n<\/tr>\n
Vacation<\/td>\n4 Weeks<\/td>\n8 Weeks<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Especially if your current company offers the benefits you are requesting from the new company, and you\u2019re simply seeking a match, then presenting it clearly makes your boss’ job easier when securing approvals on your behalf. Unlike business negotiations, your mutual goals mean there\u2019s good reason to be transparent in your ask. But like business negotiations, you may want to aim a bit higher than where you want to land. You can expect some, but not all, of your conditions to be met. Understand how you prioritize your list and make sure to communicate which areas are important and which are acceptable trade-offs.<\/p>\n

You\u2019ll want to carefully consider which elements of the comp package you want to negotiate. The most common items are base salary, bonus and equity. Review the comprehensive ACS Comp & Benefits Checklist<\/a> and be sure to focus on and prioritize a reasonable number of items that are most important to you.<\/p>\n

Other Tips<\/strong><\/p>\n