How to Negotiate Job Offers With Confidence

Congratulations.  So you aced that last interview with Company X and the job offer has come through.  You have until the end of the week to accept or decline the offer, but Company Y is the job that you really have your sights set on and your second interview with them is not until the following Monday.  Yikes!  Multiple job offers seem like a good problem to have, but they can cause much angst and a few sleepless nights!  All of a sudden you are in a high stakes game where you run the risk of losing both opportunities if you make the wrong move.  Walking this line requires finesse and below are a few tips to keep you confidently in the game and positioned well. 

1. As the saying goes, an ounce of prevention is worth a pound of cure.  I am a big fan of transparent communication throughout the job search.  Consider mentioning at some point in the interview process with each company that you are very active in your job search and seriously exploring multiple opportunities simultaneously.  Let them know that you have not made any commitment that would interfere with you pursuing the role with their company, but ask to inform them if that changes so you can discuss how an offer from another company will affect your process with them.  In this way, you are setting up an agreement for open communication if needed.
   
2. If you receive an offer from Company X and you are waiting on Company Y, enthusiastically thank Company X, letting them know how much you appreciate the offer and that you will need a few days to review it.  Then call Company Y and explain to them that you have received a solid offer and that you need to get back to that company within the time frame that you have been given.  Then ask Company Y if they have a timeline for extending an offer to their preferred candidate.  At this point Company Y will either turn up the dial to get an offer to you ASAP, or they could inform you that they cannot make an offer before your deadline.
   
3. Once you have spoken to each of the appropriate companies, the next step is to review your offer from Company X on its own merits and not in comparison with Company Y.  Make a list of your values or “must haves” that support the lifestyle that you want to have, (things such as cultural fit, proximity to home, flexible work options, job content, opportunity for growth, continued education, your alignment with the product or service, etc.).  Vet this job opportunity through the lens of your values to be sure that you are truly interested in the role.  Next, consider the points of the offer such as salary, benefits, vacation, flex days, bonus structure, moving expenses, etc.), and identify what works for you and what does not. 
   
4. Once this is done, pore over the offer again and craft 3-5 questions that require further clarification about the EXISTING offer.  Do not counter-offer at this time…The key is to gather more information about what they have presented.  Consider package nuances to draw from.  Putting forth well-thought-out questions can help to delay the deadline slightly. 
   
5. Now is the time to counter-offer on any of the elements in the package that you would like to  have enhanced.  That said, be prepared to do some “give” as well as “take” and focus on those elements that are of really high importance to you.
   

If you reach your deadline with Company X and there is still no offer from Company Y, then you have a tough decision to make based on 3 options: (1) Accept the offer from Company X and let go of Company Y, (2) Accept the offer from Company X and then rescind if Company Y comes through, (3) Decline Company X and hope that Company Y comes through.  Which way to go is a personal decision and it must be right for you, your family and your career. 

Often for when making these tough decisions, the best answer is found in your “gut”, by sitting with each option and identifying which one feels most right.  One thing to consider when declining an offer is that industries are small and your reputation is key for long professional success.  It is paramount to always try and keep relationships in good standing and not burn any bridges.  One way to do this is to suggest or put forward someone else that you may know who could be good for the role you have turned down. 

Lastly in keeping with transparent communication, honesty is still the best policy.  If there is no other way to approach it then the right thing to do is to pick up the phone and openly discuss your situation with both parties.  Company X may not appreciate being kept at arm’s length until Company Y comes through, but they will most likely appreciate your integrity and your courage in not keeping them in the dark. 

Wishing you a successful week!

Lysa

Lysa Appleton is a Career Consultant, Employment Strategist and awesome Resume Artist with 10+ years of experience helping professionals and industry leaders to secure work they love across Canada and the United States.