Q & A Table of Contents
They Want Me, But Won't Pay Enough
From: Mark, Charlotte, NC
Question: Out of ten candidates, I got the offer of the next day after my interview, my skills are in High demand for the company I applied to. I did my research on the job market, Median base salary income for my level of experience is 74 -75 per year. (In business 12 years)
Their Initial offer was put down at total of 69,600.00, (60,000 being base salary)+ a 9% year end bonus, 4,200.00 car allowance. Plus a complete benefits pack, All insurances, 401K, pension, 2,000.00 signing bonus, plus, one months advance salary. "Good package, but over all I would be taking a monthly pay cut on base salary, and would not be in base salary figure that was set in my range all things considered.
So I feel I need to negotiate, Based on monthly need and my level of experience, job duties (mid-level mgr.)expected, (greater responsibilities) than current job at near same pay, and having to relocate, there are three factors I need to negotiate:
- I want to encourage a 8.5% increase in base salary, of 5,000.00. (I want to get as close to the median base salary as possible to constitute changing jobs, that would provide 10-15% pay increase.) In the course of raising the base figure the bonus would also increase so who knows what would happen there (?).
- I have already earned 3 weeks vacation for this year, to change jobs I loose it, and will have to wait a year for a mere two weeks.
- I get 8 holidays currently, but new company they starts with the 6 standard. (I need the extra two days due to the travel requirements, especially since moving is required.
He called and laid out offer then ask me to go ahead and call HR, to set up drug screen, and complete papers, while he puts the offer in writing to me for my review. I told him I would review the offer, but I did not give him a yes. (He wants to send me to a class 5th of March, so he is in a hurry.)
Can you suggest how I might negotiate in this situation? I don't have a clue, nor do I know how to approach the process or propose it. It is complicated by the fact that the salary and compensation is to close to my current job, but I had rather work for the other company based on better training policies, retirement program, and growth, AND I started looking for another job because I NEED A MONTHLY PAY RAISE. I think it is certainly needed since they require my relocation.
So can you offer any suggestions how to put this is writing or how to propose this?
Response: The one point you make about your interest in changing jobs is that you need to make more money. It appears that other factors about your current job are not problems.
My first question to you is, can you go to your present employer and indicate that another company has made you a serious offer and use that as a bargaining chip to improve your current situation?
If you you have already burned your bridges to your current employer, there are two other steps to take: If all your communication with the new employer has been in writing, then changing the rules of the game and using the telephone or a face to face meeting could change the dynamics of the interaction. If it has been by phone and/or face to face already, you may not want to send a letter saying: "This is what I demand." But you may want to bring a typed-out agenda of the substantive issues you want to discuss to your next conversation -- and give them a copy of the list so they know what's important to you.
- Honesty is always the best policy: tell the potential new employer that everything about their job offer is attractive but the pay, the holidays, and those other benefits that are below the standard you are currently enjoying. Rather than ask, "Will you pay me $X per month?" which demands a "yes" or "no" answer, ask these folks, "What incentives can you offer me that will give me reason to make the change?" Make it clear that your financial interest is paramount.
It is worth finding out from the 'new employer' whether paying you more will cause them any particular problems: other employees will expect to be paid more, adding extra holidays will cost money when other employees are included. So ask the hiring person what issues determine his/her capacity to determine the compensation package. You may hear things in what they say that give you an opportunity to come up with a creative solution.
Remember that while you need a job (that pays more), the company needs someone with your talents. If they chose you above other applicants that should be an indication they think they need you.
Their initial offer may have been just that -- the way the Manufacturer's Suggested Retail Price is the opening bid in the sale of a new car. Perhaps they are expecting you to respond with your own standards. For example, not giving you relocation time sounds unreasonable and, more seriously, unrealistic. If you give up on this issue, for example, they may figure you're a real patsy and treat you poorly in the future.
- You might want to take a quick look at other alternatives: other employers, other cities, other kinds of jobs you find appealing because of the psychic or financial rewards they offer. Knowing your value in the marketplace gives you a far better basis, and hopefully much more confidence, in the current negotiation. And, who knows, you may find something better.
Good luck,
Steve
|
