Negotiation Tips #3 and 4
Surveys suggest that 85-90% of hiring managers do not make their best offer first. The employer begins the negotiation process knowing how much money is budgeted for the position and how much flexibility there is around that figure. They also know how long they’ve been looking and how competitive the job market is for someone with your abilities. These factors influence what they offer initially. They want to have some wiggle room…they know the candidate may chose to negotiate their compensation. By starting low they have built in flexibility during the negotiation process.
Counteroffers are generally 10-15% above the original offer. Again, employers know they may need to negotiate, so it’s reasonable to assume that there’s flexibility built in to the initial offer. Employers expect you to negotiate. In addition to the financial rewards associated with salary negotiation, you will gain the respect of the hiring manager and increase your credibility within the organization.
I have a few more tips to share. Check back tomorrow!