I Got an Offer, Now What?

The job market today has been similar the real estate market. In real estate, home values have increased prompting homeowners to sell to collect a profit. Employers are having a tough time finding workers, so they are offering higher pay and more incentives to entice workers. The value of the worker has increased, and you need to know your value. How do you put a value on your experience and skills?

It is important to know what the market rate for the position that you are applying for prior to going into the interview. The million- dollar question that is frequently asked is how much you are expecting to make. Instead of looking like a deer in the headlights, you should know the market rate for the position in your area. You should be aware of different markets having different rates of pay. For example, the pay is higher in San Francisco, CA than in Blythe, CA. There are big disparities in the rate of pay from one side of town versus the other. You must know your local market rate and then determine your value in relation. Next, you should consider what characteristics that you possess that will separate you from the other applicants so you can begin to place a value on the perceived amount. How do you put a price on your differences? I look at it again like real estate. You should account for cost of living, inflation, and because I am better. I added the last one, but let’s be real. I would look at the market rate in my city for a position from a website like Glassdoorjobs.com and review the Department of Labor’s stats for future demand forecasts of both the position and your industry. The more prepared that you are to speak about the market rate and your value, then the more likely you will be to receive the compensation that you want.

Times have changed over the past few years and most applicants miss the chance to negotiate their pay. The best thing to do during the interview is to say what amount of pay you are expecting when asked. With the amount of research, you should have done, then you will not and should not talk yourself out of the pay range discussion by asking for too much. The employer is looking to gauge what type of compensation you are seeking, and the discussion usually will not be final during the interview. The fact is once you receive the actual job offer is the time that you should really dig into what you are seeking. The job offer is an offer and you do not have to accept it. As I mentioned before, the value of the worker has increased, and employers are realizing it too. They are more flexible and are more willing to pay higher for a viable candidate.

What if they say no to the amount of pay that I am seeking? Employers are more flexible in how willing they are to increase your compensation even if it is not monetary. The old quote comes to mind, “it’s not what you sell, but how you sell it.” I cannot pay you the amount you are seeking, but I can offer more vacation time. An extra week or two of vacation can equate to percentages of higher pay. Other options to choose instead of salary include tuition reimbursement, discounts on goods or services, favorable schedule, option to work from home, and the list goes on. It can range to the creativity of the candidate and what is a favorable trade for pay. In most cases, vacation time is a top choice in negotiations. The most important thing to remember is that you have options even when you feel like you are losing in the negotiation. Prepare with purpose so that you achieve the success that you start out seeking.

What are some other resources that are available for me to use that will help me to determine a market rate? Top websites to research salaries include: Salary.com, Payscale.com, Salarylist.com, Glassdoor jobs, and Indeed.com. I would suggest taking the necessary time to ensure that you have a very good understanding of the market rates and be able to speak to why you are asking for the amount you specify. You do not need to have a law degree or be a great negotiator, but you do need to be confident in your knowledge and skill set that you are bringing to the table. There are countless books and online articles that are available too for you to review. I don’t endorse falling in a rabbit hole of negotiating information, but know that you have options and know your worth. It’s a workers’ job market. “To the victor goes the spoils!”

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#Jobofferletter #JobOffers #SalaryNegotiation

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