8 Ways to Handle Lowball Salary Offers
8 Ways to Handle Lowball Salary Offers
Contrary to what you may think, accepting your dream job offer without negotiating your compensation is one of the biggest mistakes anyone can make. And this is particularly true for women and under-represented minorities.
Let me explain.
If you’re not negotiating at least a 10% raise, then you’re already selling yourself short because you are almost certainly in the wage gap. Depending on your race, gender, nationality, or BIPOC and LGBTQ status, you are making anywhere between 55% and 90% of the wages earned by cis gender men of European descent.
What to do.
Request more time to think about the offer - This way you don’t accept or decline right away, and can take some time to weigh the pros and cons.
Negotiate a higher salary - Don’t take the salary you were offered at face value. If it’s lower than you think it should be, negotiate! Many companies expect you to do this.
Before you negotiate, learn your market value by surveying the market with online resource such as payscale.com, salary surveys such as those issued by Robert Half, and your friends and colleagues in the field.
Consider the company’s overall package - Consider the company’s salary bands, bonus structure, leave benefits, particularly pregnancy leave if you’re of child-bearing years, and childcare benefits if you have children).
If you’re leaving money on the table (only partially earned equity, for example) ask for a signing bonus.
In all cases where pay bands are transparent, make sure you’re placed in the right pay band according to your education, experience and skills.
Create a plan for performance reviews - Continuous feedback is crucial. Be sure to set yourself up for success, so you can show your company you deserve the higher salary.
Don’t be afraid to walk away - If you’re not comfortable with the offer now, it’s going to feel even more uncomfortable once you’re working. Don’t be afraid to walk away if the job isn’t right for you!
Consider any offer less than 10% to be a lowball offer that is out of sync with your market value.
Want to learn even more about handling lowball salary offers?
Schedule your $200 hour with She Negotiates, and learn how our experts can help you earn the salary you deserve! We’ll guide you through the process of negotiating your salary, and earning what you're worth.