Negotiation Tactics To Make A Smart Counteroffer In A Salary Negotiation
Do enough research: Before you apply any negotiation tactics, consult your network and research on the typical compensation for your particular position. Determine a salary range that is reasonable for your industry and your geographic location, and take into account your experience, academic degrees, credentials, and related achievements.
Don't accept the original offer: Don't agree to the initial offer if you aren't happy with it. Keep in mind that the best time to negotiate is as soon as you've been given the offer. If you need to consider the package being given to you, thank the employer and ask for time to think it over.
Keep it concise: When it comes to negotiation tricks or bargaining tactics, one crucial thing to bear in mind is to keep things short. Go straight to the point, and avoid waffling on in order to justify your offer. Put your cards on the table and do your reasoning later.
Prioritize: A good negotiation tip is that is to be prepared having to give up a few of your requests. Find out what you absolutely MUST have, as well as what benefits you can afford to give up. You should not be too demanding-the other side will be more willing to give in if it feels like a win-win situation for everyone involved.
Avoid entering a bidding war: You may have several offers from different companies or organizations, but avoid pitting companies against each other if you can. Asking companies to outdo each other in terms of salary and so on will only make them question your loyalty and integrity, and will also put you in an unfavorable light.
Don't give up too soon: If the salary negotiation doesn't seem to be going in the direction you want it to, don't give up at the first sign of a struggle. Instead of heading straight for the door, prolong the conversation by asking expounding questions. You never know how the conversation will end up. You will likely be able to achieve a positive response.
Look at your other parameters: If you are being offered a relatively low salary and there seems absolutely no room for maneuver, then focus on negotiating on other forms of compensation. Why not ask for a signing bonus, moving expenses, or even additional leaves?
Try again: Another simple, yet effective negotiation technique is not to lose hope if your counteroffer is rejected. For now, meet somewhere in the middle and request that you be given a performance review in a few months time-with, of course, an opportunity to reconsider a raise.
Don't accept the original offer: Don't agree to the initial offer if you aren't happy with it. Keep in mind that the best time to negotiate is as soon as you've been given the offer. If you need to consider the package being given to you, thank the employer and ask for time to think it over.
Keep it concise: When it comes to negotiation tricks or bargaining tactics, one crucial thing to bear in mind is to keep things short. Go straight to the point, and avoid waffling on in order to justify your offer. Put your cards on the table and do your reasoning later.
Prioritize: A good negotiation tip is that is to be prepared having to give up a few of your requests. Find out what you absolutely MUST have, as well as what benefits you can afford to give up. You should not be too demanding-the other side will be more willing to give in if it feels like a win-win situation for everyone involved.
Avoid entering a bidding war: You may have several offers from different companies or organizations, but avoid pitting companies against each other if you can. Asking companies to outdo each other in terms of salary and so on will only make them question your loyalty and integrity, and will also put you in an unfavorable light.
Don't give up too soon: If the salary negotiation doesn't seem to be going in the direction you want it to, don't give up at the first sign of a struggle. Instead of heading straight for the door, prolong the conversation by asking expounding questions. You never know how the conversation will end up. You will likely be able to achieve a positive response.
Look at your other parameters: If you are being offered a relatively low salary and there seems absolutely no room for maneuver, then focus on negotiating on other forms of compensation. Why not ask for a signing bonus, moving expenses, or even additional leaves?
Try again: Another simple, yet effective negotiation technique is not to lose hope if your counteroffer is rejected. For now, meet somewhere in the middle and request that you be given a performance review in a few months time-with, of course, an opportunity to reconsider a raise.
About the Author:
Martin P Collins is a well known negotiation expert at Geneva Education who frequently gives very useful advice in his articles and blog posts. Look here to learn some of his most common negotiation tips. Or visit here for further negotiation techniques.
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