Salary Negotiation. Let’s talk about it.
I hope you are all thriving. Over here it’s been a great summer thus far, despite the wildfires, unfortunately and sadly, blazing through our beautiful Canada. As the haze over Vancouver does not allow for any cycling adventures, I am back this week to talk about a very touchy subject — salary negotiations.
Over these past (almost) seven years of coaching and career advising newcomers to Canada on how to put to practice efficient career management strategies, one of the most common ‘deer in the headlight’ look I get is always when the topic of salary negotiations comes up. To get us started I want to share some of the most typical reactions I often get when I ask people if they have or will negotiate their job offers:
‘What, negotiate it? ‘What if they rescind the offer? Isn’t that disrespectful? I will take whatever they are offering. I just can’t do that, I don’t have the confidence. I can always negotiate later.’
So let’s start demystifying these, shall we? Here are a few thoughts, in bullet form for objectivity:
- Yes – negotiate it. You ARE the chosen candidate, so they WANT you. Remember that about 95% of companies in Canada will have a salary range for each and every position. #trustme
- No one will rescind an offer. I have witnessed, in 7 years, ONLY 1 job offer be rescinded. The reason was solely due to the candidate’s unprofessional and rude approach to negotiating.
- In reality, it is expected from the best candidates that they will ask to review (negotiate) the offer. It is not disrespectful in any way. In reality, many hiring managers will be surprised, in fact, some may be even disappointed if their chosen candidates do not negotiate their job offer. It is NOT DISRESPECTFUL unless you are RUDE when doing it. #respect #EQ #benice
- Let’s recap it. You spent time (you should’ve) customizing your cover letter and resume. After that, you went through at least 1-2 interviews. FYI – the average job posting attracts (according to Glassdoor) 250 resumes. After all these hours you have proven that you were the best candidate for the job. So yes – it is time to review (negotiate) the offer, you should not take whatever they are offering. My experience shows that those that do not negotiate their initial salary offer leave between $5-7K on the table. #never
- No, you can’t negotiate later. If you do that you will miss out on your best opportunity when an employer wants you the most. Statistics show that in a stable market like Canada, a vast majority of professionals will only receive the COLA* annual salary adjustments, ranging from 1-2% at most, yearly. REMEMBER your best time to negotiate better conditions is when you receive the offer and before starting the new role. #keepthatinmind
Now that myths are down, it’s time to keep in mind (and put to practice) these three golden rules for successful salary negotiation strategies:
- Be professional. What that means is that you have to be respectful and cordial and approach the conversation naturally – it is not a battle. Don’t ever approach it as a YOU vs. THEM. Remember, you will spend lots of time with your future employer, so you want this relationship to remain respectful and cordial. #beprofessional #winwin
- Know your Market Value. Do your research, know your value proposition, your experience, skills and why they chose you. Knowing these will make you well equipped to assess and negotiate your job offer.
- There’s more than $$$$$$. More than ever before organizations offer the most different and varied range of benefits. Know what’s important to you before you talk to your employer to review your job offer. Sometimes, it is best to negotiate an extra week vacation than $$. Here are a few examples:
- Vacations, Phone, Travel Discounts, Gym Memberships, Parking, Gas, Personal Days, Professional Development, Telecommuting, to name a few.
Well – I hope these help you. One final reminder if I may. Achieving a win-win salary negotiation does not depend on one’s citizenship, it depends solely on YOUR research, career strategies readiness, EQ, and how you treat others.
Are you ready? #beready #talktoacoach #coachrod_vancouver
I look forward to hearing about your successful salary negotiations.
Rodrigo | CoachRod.ca
*COLA – Cost of Life Adjustments. In 2018 salaries in Canada will be adjusted, on average, 2.3%. Source BIV – https://tinyurl.com/yb42qgmq