Negotiating a job offer and making sure you secure the best package possible can very often seem like a game of chess with move and counter-move while all the while trying to gauge what is going through the head of the person sitting across from you.
That said, there are a number of tips, strategies, and important things to know before you engage in this stage of the job-hunting process.
Sarah Carroll, a careers expert at global hiring platform Indeed, says knowledge is power when it comes to negotiating job offers.
“Researching industry norms for positions should form a key part of your job search – don’t wait until you have an offer in hand,” she says.
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“You can start by researching their company page on Indeed to find information on salaries, benefits and employee reviews, as well as look up relevant job ads that have their salary posted, which will soon become the norm in the EU.”
Sigmar Recruitment chief executive Frank Farrelly agrees: “The first step is to do your research to gain a realistic picture of what the market will pay you. Don’t benchmark your expectations on the one outlier who managed to land a large salary straight out of college.”
Carroll says things like job title, industry, location, and experience required are some of the variables to look out for when doing your research. Once you are aware of what general packages look like in your line of work, cross reference them with your own priorities.
“Of course, on first thought everyone says they want a high salary, but on reflection some people realise that flexibility, good benefits or opportunities for progression are more important to them,” says Carroll.
“Taking the time to research from the outset ensures you are confident entering the negotiation process, whatever your ideal outcome may be.”
Farrelly says some companies are open to negotiating on salary, but many are not. Your research should include networking with former employees and looking at Glassdoor to get an insight on them.
“It’s not just salary – its benefits and trajectory,” he says. “In Sigmar surveys, healthcare is consistently the most popular benefit with less experienced workers but maybe the pension on offer is worth an extra €5,000 a year.
“Everyone should consider what the company will invest in you in training and development. The first years in the workforce are formative and the right foundation is so important.
“Extra industry qualifications will add to your market value should you wish to move on in the future.
“When I started out in sales recruitment, any candidate who had worked in Golden Pages could command an extra 20 per cent, based on the market recognising the brilliant training they provided.”
A key consideration is salary expectations, but Farrelly argues it is not the norm to talk about them at first round interview.
“I tell my candidates that the balance of power is more with the employer in the early stages of the interview process and if you are called back you know they like you and will be more open to negotiation,” he says.
“Having said that, you must be ready to negotiate if asked. It is a sign that the employer is interested in you. If asked, set out your expectations and don’t do a bait and switch when further in the process as it’s too risky.
“Giving your salary expectations as a band rather than a figure works better. You can say it is dependent on other factors such as training and development opportunities.
“You can frame your expectations with the market rate and what other companies you are in a process with are paying. When you have answered stop, if there is silence do not fill it, just smile.
“When you get an offer, even if you consider it a lowball, be courteous and ask for time to consider. Some people will try to close you there and then but its best practice to look at it in totality and respond.”
University of Limerick careers advisor Brendan Lally says money can be discussed “at any stage” but that more and more graduate employers are “putting it up there front and centre” at an early stage.
“This makes the salary negotiation an easier territory to navigate for the graduate but not all employers give this level of salary information up front,” he says. “I think it’s fair to say that you might see more withholding salary information in the SME sector.
“Often you will see salary is dependent on experience and education. There is some variance there based on work placements/internships completed or postgraduate education like a master’s degree or PhD where a premium or value is placed.
“It’s just being ready for that question as it’s coming either way, at initial screening or further down the road but it will be part of the discussion. It’s important to stress doing your homework for each employer you interview with.”
Lally points out that it is preferable to consider salary expectations when researching course choices rather than completing a course and then looking for the first time. You can look at salary guides online or from recruitment agencies.
“If you go back maybe four or five years graduate employers were slow to list the salary on their job adverts,” he says. “Things have changed thankfully, so now if you go online particularly in the autumn timeframe, you’ll see this year’s batch of graduate jobs with the salaries listed.
“This prevents fall offs or job offer rejections very late in the process after much time and expense on both sides. There is a lot more data out there on what’s a fair starting salary for graduates depending on location, sector etc.
“It is good news for the graduate on two fronts you can see the salary data online and see the salaries listed on open positions up front.
“It is often hard to know how realistic your expectations are, but if you are looking for €35,000 to €37,000, then it is better to state that your ideal salary would be around €37,000 when asked by recruiters and employers.
“This shows that you may be negotiable but gives you the best chance of receiving a better salary.
“Candidates that say they want at least €35,000 and are then offered exactly that, they are in a tough position. It appears that they are changing their expectations if they are disappointed with an offer that matches their minimum expectations.”
Lally suggests telling them that you’ve done some research on salaries and the market in which you are seeking work.
“Say you are aware that for a role like this the going salary range is from X to Y,” he says. “That you believe a company of its stature in the market would be at the upper end and you’d be happy with that.
“But as I said most graduate employers will list the salary upfront and should have done their own benchmarking in their sector and location and repeat this on an annual basis to ensure they are competitive in the market.
“It’s always important to have an idea of the market and I think it’s important to understand that for many companies the salary is only one part of an offer.”
Lally says it is also important to know the difference between salary and a compensation or remuneration package. The remuneration package depends on your contract type which has a knock-on effect to your access to various benefits.
If you accept a position on a graduate fixed duration contract you may not be eligible for all the benefits that a permanent employee would enjoy. The job advertisement will normally display the benefits you are in line for if successful for the role.
Many benefits do not kick in until you have successfully passed your probation period. These benefits can include overtime/time in lieu, further study assistance (both financial and study leave), pension, healthcare, stock options, and bonuses.
Other benefits are flexible/hybrid working hours, gym, paid leave, a company car, commission, mobile phone, laptop and other devices, free or subsidised food, retail discount/vouchers, cycle to work scheme, wellbeing initiatives and volunteering days.
As Lally notes, strong graduate candidates will often get more than one job offer. “Now, it’s not all about the money,” he says. “Whilst it’s important, the job, the company and career opportunity also come into play.
“What I would say is not to go back to any company and say, ‘I have a better offer and it’s going to be whoever pays the highest.’ This will go down like a lead balloon.
“You should be coming back and saying my preference is to the role and the company. They will either counteroffer or match the offer or maybe not move on the initial figure at all. It’s then over to you to make your choice.”
Once you are finished negotiating, get the offer in writing and submit your acceptance in writing highlighting the terms of your acceptance based on what was negotiated. If you don’t reach an agreement and turn down the job, send a letter of appreciation.
Lally’s final point is to treat every company with the “utmost respect”, especially those for whatever reason you chose to turn down as you never know when your paths might cross again in your career.
