When it comes to receiving an offer, there is usually still room for adjustments in offer conditions and salary negotiations. In order to negotiate effectively, you must do your research to know your worth.
Here are some key points you should consider.
Assess Current State
Understand your current role, compensation, and benefits package. Speak with your peers, colleagues, and family to get fresh perspectives on career development and personal growth. Determine areas that you would like to see improved.
Conduct Due Diligence
Fully understand the current market. Use online tools, like Glassdoor and PayScale, to carefully assess the market and industry average salary by location and job levels.
Counter with Rationale
Ensure you have a sound rationale for all your non-negotiables. Confidently and kindly request for specific changes in your offer.
Wait for their response and respond accordingly
If your counteroffer is accepted, request for the updated offer letter in writing, and carefully review the final terms before signing. If your counteroffer is NOT accepted, then verbally talk through what they are willing and able to give instead.
Remember that not all your requests will be met, and ensure that you are professional throughout all negotiation discussions.
Acceptance of Offer
Before you accept an offer, make sure that you obtain an official written offer, especially if only a verbal offer was established during negotiations. Verify all information listed in the offer before signing it.
Only after you formally accept and sign the offer letter should you give any notice to your current employer and conduct knowledge transfers.
HRCap TIP 18: Two Weeks Notice
Make sure you do not give in your notice to your current employer immediately after accepting and signing the offer. There are still factors in play that can rescind the accepted offer.
Giving a two to four-week notice to your current employer is standard courtesy in any work field. Remember, you are an employee at will so this is not a rule or a law. Employers can terminate you and you may quit at any time.