The New Basics of Negotiating a Job Offer

It’s thrilling to receive a job offer, especially when you’re just starting out in your career, or after an extended job hunt. But the offer doesn’t mean the work is done—next comes negotiatiation.

According to Fidelity Investments, 58% of young professionals don’t negotiate their job offers, but 87% of those who do receive additional compensation. Those who negotiate increase their starting salaries by an average of $5,000. 

Here at Korn Ferry Advance, we’ve polled some of our expert career coaches for their top nuggets of advice for anyone negotiating a new job offer. (If you’re looking for tips on negotiating a raise, click here.)  

Don’t be afraid to negotiate.  

Are your palms getting sweaty just at the thought of asking for more money when you haven’t even added any value yet? You’re not alone. Negotiating can feel even scarier to some people than interviewing! But it’s an important skill to have in your toolbox.  

“Just do it!” says Tiffinee Swanson, a career coach at Korn Ferry Advance. “For many roles, negotiation is a critical skill, so coming to the negotiating table is seen more positively than you might imagine.” After all, the worst thing an employer can do is say no; they’re very unlikely to rescind the original offer because you asked.  

“Do so with positivity and professionalism, adds Sunny Levitt, a career coach at Korn Ferry Advance. That means steering clear of a personal or combative tone and never using “I want” or “I need” statements.

Ask the employer for their budget first.

To avoid getting lowballed, try to defer the question back if an employer asks your range. “Don’t give a number first and instead ask their budget,” says Angela Galle Sylvester, a career coach at Korn Ferry Advance. “Remember, when negotiating, you are looking at the total compensation, not just the annual salary.”

And come to the conversation prepared. “Research the market and know your low, medium, and ideal salary number so you can objectively assess where the employer’s offer falls,” says Val Olson, a career coach at Korn Ferry Advance.

If you must give a number first, give yourself an out in case you need to change it later. “Add something like, ‘Based on what I know about the role so far…’ in case new information is presented,” says Michaela Buttler, a career coach at Korn Ferry Advance.

Make your business case.  

Back up the number you’re asking for with data, both from the market and your past experience and results. “Remember that employers need your talent, skills, expertise, experience and good character just as much as you need fulfilling work and a paycheck,” Olson says.  

“Never base the compensation for a new role off your last job— and you don’t have to share that information,” adds Buttler.

Negotiate like you’re on the same team—because you are. They have a need, and you can fill it. They’re not offering you money out of charity. “If they can’t offer as much in one area, ask about the other benefits they can provide, such as equity, bonuses, cell phone, gym membership, commuting benefits, education reimbursement, etc.,” Buttler says.

Know when to walk away.  

Get clear on what you will and won’t accept. “It’s very important a candidate knows their ideal compensation package and the point at which they’ll walk away,” says Alyson Federico, a career coach at Korn Ferry Advance.  

If an offer is too low and the employer won’t budge, “don’t take a low offer out of fear, if you can afford to extend your search,” Olson says. Know your worth and stay strong!