You Don't Ask, You Don't Get
A client recently had the good fortune of two offers for entry-level employment in different cities. The offer of greater interest was in a city with a higher cost of living. While it did have a higher salary than the other offer, the difference wasn’t quite significant enough to compensate for the difference in living costs.
I suggested that the client speak with the more interesting company and try to negotiate a better salary. It’s conventional wisdom that there’s little wiggle room in job offers for new grads. While many large companies have more structured compensation bands, some smaller companies may have more latitude.
Some key points to consider:
• If possible, try to gather some intelligence about compensation at the firm you are considering. Glassdoor is a great resource for reviewing more reliable reported comp. In addition, if you know other candidates who’ve received offers for the same position at a company, try to share the intelligence you’ve gathered.
• Don’t be arrogant or demanding with your request. Try to get on the “same side of the table” as the prospective employer. The employer is more likely to respond favorably to requests framed like “It would make me more comfortable if…” or “It would make the decision a lot easier if…” If you’re reluctant to negotiate, remember that you wouldn’t be the first person to ask for a better deal. How would you feel if you heard from a colleague that the company was willing to sweeten its original offer and you didn’t try to negotiate? As they say, “you don’t ask, you don’t get.”
• Think of value more broadly. Some companies are rigid about their salary structure. That said, there are other dimensions to consider. Performance bonuses, stock, signing bonuses, moving allowances, vacation days, and the ability to work remotely some or all of the time are all potential areas to discuss to make an offer more competitive and appealing. That may make it easier for the company to say yes to something you value.
• The simple act of trying to negotiate an offer is good practice since you’ll likely have several jobs during your career. Like anything, it will come more naturally the more you do it.
Receiving a job offer is a great thing! Knowing how to evaluate it and negotiate it with poise is a life-long skill that everyone should build.
I offer individualized career coaching and advising (remote and in-person) along with text, email, and phone support to help job seekers succeed. I've hired more than 100 people and interviewed over 500 candidates. I've worked at large global companies like Morgan Stanley and a company that is now part of Bank of America Private Bank and founded/worked at six startups. I welcome you to contact me and join my mailing list.