There’s a high chance you could be making more money in your career, especially if you like to avoid talking about money like the plague. So, the next time you’re tempted to just accept a job offer, consider these five signs that you should ask for more money before doing so:
You might be leaving money on the table.
You’ve received the written job offer.
Please note, negotiations are most effective once you’ve received the written job offer because that’s when you know you’re their number one choice. But, even if you’re content with the initial salary offer, you should still ask for more, especially if you’re a woman. Research shows that women who consistently negotiate their salaries earn at least one million more over their lifetimes on average than those who do not.
But, also keep in mind, salary is not the only thing you can negotiate. Several years ago, before remote work was as common as it is now, I had a client negotiate weekly work-from-home Fridays. I’ve had other clients negotiate $10,000 signing bonuses in place of a salary increase. Others have negotiated more vacation days, a more suitable start date, along with other perks. Moral of the story: it never hurts to inquire because, most times, the worst thing that can happen is that they say no. And, given that you’ve already survived every no you’ve ever received, you can survive that too.
You previously lowballed yourself.
Maybe when the interviewer asked about your salary expectations, you nervously blurted out a number that you instantly regretted. The good news is there’s still a chance to ask for more once you receive the job offer. However, before you do, do your research and be sure that you can convey the specific reasons your value no longer aligns with the number you previously shared. Then, to start the conversation, you can say something like, “After learning more about the responsibilities and needs of this role, I’m confident I will be able to [excel at the role’s 2-3 top priorities] and would love to discuss a salary between [higher competitive salary range].”
The salary doesn’t match your level of experience.
No matter how grateful you might be to receive the job offer, if you discover the salary is not commensurate with your experience, background, and skill set, you should still consider asking for more money. Recently, one of my clients decided for the first time in her career to negotiate her salary before accepting the job offer. After a period of waiting, the company came back to her and told her that they “miscalculated” her years of experience and would gladly bump her salary up by $8,000. In one quick conversation, she landed a more enticing salary. Still, before you initiate the conversation, determine your market value so that you can present a compelling case in the negotiation.
MORE FOR YOU
You know you’ll be an asset to the company.
Often when job candidates finally land new jobs after a long job search, they convince themselves that they’re lucky to be hired. This is especially true for job candidates who transition into a new industry or land a more challenging role in their careers. However, if you receive the salary offer and know it could be higher, you’ll be doing yourself a disservice if you don’t negotiate because your future bonuses and raises will be based on whatever salary you accept. So, even if your background doesn’t 100% match the job description, but you know that you’ll bring value to the team, clients, and company, be bold enough to negotiate once you receive the job offer. On top of that, use your unconventional background as further proof to validate the unique value you’ll bring to the new role.
You have multiple job offers.
If you do happen to secure multiple job offers, you can certainly leverage those offers to negotiate more from your first choice company. For example, I had a client, let’s call her Anna. She landed two job offers, one at a company she liked but didn’t love, and another at her top choice company. Unfortunately, her top choice company offered her less than her second choice company. Anna was tempted to accept the second choice company’s offer but decided to negotiate more money from her top choice company instead. It worked, and she happily accepted the job offer at her top choice company. But, a word of caution: I don’t recommend seeking out additional offers simply to justify asking for more money from one particular company, instead save yourself time, do your research and negotiate the salary you desire.
While negotiations can seem intimidating, they’re not breeding grounds for conflict. They are opportunities for both parties to reach a mutually beneficial compromise. On top of that, negotiating your salary also gives you a chance to advocate for yourself, and it sets you up for success before you even start the job. It shows your new company that you know your worth and allows you to confirm that they recognize it too. So, the next time you find yourself in one of these five situations, give yourself permission to ask for more money before you accept the job offer.
Adunola Adeshola coaches high-achievers on how to take their careers to the next level and secure the positions they’ve been chasing. Grab her free guide.
