In the intricate dance of hiring, salary negotiation is often the most fraught with trepidation. Yet, understanding its subtle complexities can transform it from a dreaded encounter into an opportunity for mutual gain. Here are five golden rules to remember before you make that next offer.
Did you know that in the state of MN, hiring managers can not ask about your current salary or salary history? Instead, they must rephrase the salary question to inquire about your salary targets.
“What are your salary requirements?”
That question – or any of its many variations – initiates one of the trickiest, most consequential decisions you’ll have to make when communicating with a potential employer.
How should you respond?
With forethought, a well-prepared answer, and a clear, confident tone, sure.
But what should you say?
That depends… on a number of factors.
If you write “salary negotiable” on the application, it might keep you in the running and buy you some time to figure out a more specific response. However employers are looking for candidates who understand the market, know themselves, and are confident placing a dollar figure on their professional worth. If you just keep dodging the question by saying it’s all negotiable, you look timid and unprepared for the actual negotiation.
At the same time, your answer needs to vary from employer to employer. Here’s how to determine – and adjust – your response for each opportunity:
How long has it been since you last had a raise at work? We know from experience that companies are slow to increase remuneration levels, even with the increased signs of life in the employment market. If you feel undervalued, underpaid and long overdue a raise, don’t rush in all guns blazing. Take a deep breath and consider our advice below:
As part of the sweeping employment changes that were signed into law in the summer of 2023, Minnesota’s new pay history ban goes into effect on January 1, 2024. Why the ban and how will it affect the hiring process going forward?
After clearing every hurdle in the long and winding path to your new job, you’ve just gotten the word: they’re making you an offer. Congratulations. Or…. psych!
The offer comes in, alright. But it’s nowhere near the salary range you expected.
You’ve been lowballed, my friend. And even when I tell you the truth: that good employers sometimes make wrongheadedly low offers (even to perfect-fit candidates), you’re probably shocked and disappointed – and wondering if the whole process was just a giant waste of your time.
The interviewer asks, point blank, “What is your salary requirement?” And there you are, trying to present yourself as forthright, easy to work with, and clear about what you need. It’s a tricky business, refusing to answer without looking rude, unprepared, or both. With thoughtful preparation, a little online homework, and careful scripting, you can navigate your way through these discussions masterfully.
| If you have received a job offer but the salary presented does not meet your needs, the first thing you should to is get in touch with your SkyWater recruiter to discuss next steps. If you are without a recruiter in your corner, and are in need of a template to begin crafting your email response to a lowball salary offer, you've come to the right place. These email templates are meant to get you started in your response. If you have not yet determined your salary target, review my post titled "2 Things You Should Never Do After A Lowball Salary Offer, And The 7 Steps You Should Take Instead." |
No. And here is why.
The economy is bouncing back after a crazy year, and the job market shifted overnight. Many talented individuals clung to their jobs for dear life during the pandemic with the strategy to hunker down and make it through the storm. Now, these professionals are ready to move on to greener pastures. Does this sound like you?
After receiving an offer from a new company, keep this in mind:
Recently, we’ve seen a rise in the number of counteroffers offered to candidates as sought-after skills becoming harder to find. As the labor market improves, we expect to see the number and strength of these counteroffers increase.
Should you accept your counteroffer? We believe you should never accept a counteroffer. Here is exactly why.
And The 7 Steps You Should Take Instead
There are very few moments in a job search as thrilling as learning that the employer of your dreams is about to extend an offer.
And then, there are few moments as demoralizing as receiving that offer… only to discover that it is nowhere near the salary you thought it would be.
You’ve been lowballed, my friend. And it happens more often than you might think (even to very strong candidates). We have a team of executive recruiters in Minnesota, and a team of executive recruiters in Chicago, and both teams will tell you that they have helped candidates craft professional counter offers many times over the course of their recruiting careers. We're here to explain why this happens, and what you can do about it.
Working with a recruiter can frequently prove beneficial to under pressure HR departments and employers as an integral part of their ongoing talent management strategy. Here, we outline the benefits a specialist, reputable recruiter can bring to the hiring process.
