Negotiating Compensation

key negotiation tactics to consider:

Negotiations require preparation, practice, and flexibility, and experienced recruiters are experts at negotiating effectively on your behalf. Below are some tips we offer to those we are not representing but who come to us for advice. By employing these tactics and maintaining a collaborative mindset, you can improve your chances of securing a compensation package that aligns with your market value and meets your needs.

1. Do your research:

Gather salary data for your role, industry, and location to establish a realistic range.
Use this information to benchmark your expectations and justify your requests.

2. Prioritize your asks:

Identify the components of the compensation package that matter most to you (e.g., base salary, bonus, equity, benefits).
Rank your priorities and focus your negotiation efforts on the top items.

3. UNDERSTAND AND Use your leverage:

Highlight your unique skills, experience, and accomplishments that make you a valuable asset.
Emphasize any competing offers or market demand for your expertise to strengthen your bargaining position.

4. Practice collaborative negotiation:

Approach the negotiation as a conversation aimed at finding a mutually beneficial outcome.
Use language that emphasizes collaboration, such as "we" instead of "I" or "you."

5. Employ the "door in the face" technique:

Starting with a higher request than desired sets an anchor point for the negotiation that the employer will most likely say “no” to.
When the employer counters, they are moving from your anchor point. You can then make a concession and appear more reasonable.

6. Bundle your requests:

Group multiple asks together as a package deal.
This allows you to make concessions on less critical items while securing your top priorities.

7. Use silence strategically:

After making a request or proposal, allow for a moment of silence.
This can create discomfort for the other party and prompt them to make concessions or reveal additional information.

8. Be willing to walk away:

Determine your minimum acceptable offer and be prepared to decline if the company can't meet it.
Having a strong Best Alternative to a Negotiated Agreement (BATNA), such as other offers or interview activity, can give you the confidence to negotiate assertively.

9. Get it in writing:

Once you've reached a verbal agreement, document all terms in a revised offer letter.
Review the written offer carefully to confirm it aligns with your understanding.

10. Maintain a positive relationship:

Throughout the negotiation process, keep the tone professional and courteous.
Express your enthusiasm for the role and the company, even if you need to negotiate firmly.

Comp Negotiations