When accepting an offer for a job, many candidates are unsure about what is appropriate for what they are offering and how to negotiate correctly to get what you want. Here, we will discuss how to handle an offer and what to know before accepting.
Before you accept an offer, make sure you understand every aspect of it before doing so. For example, you’ll want to ask what the base salary, if there is a commission or bonus involved, your benefits, and how much paid time off you'll have. Many people may even want to know if they have any stock options with the company.
Keep in mind that, for the most part, a 10-15% increase in base salary is the norm for life science, diagnostic, and biotech jobs.
Many times, jobs will ask you how long you’ll need before you can start working. Usually, two weeks' notice is standard. However, if you want to sign on with the company sooner, the sign-on bonus is typically provided for loss of bonus or commission at your previous job.
The sign-on bonus is 50% of the amount lost in future bonuses or commission, and about 76% of employers are offering these to candidates. Sometimes companies may help you buy a car if you have always had a company car instead of a sign-on bonus.
If you’re wondering how much time you have before you accept the offer, the answer is anywhere between 5-7 days, depending on the employer. Of course, the sooner, the better if you are sure this is the right company for you.
Most people do not switch jobs just for more money. Granted, it’s one of the deciding factors, but there are usually other things that come into play. Candidates may change jobs because they don’t like their current work environment or don’t get along with other co-workers, or disagree with their superiors' management style.
Others may even change their jobs simply because their location isn’t close enough to home. When switching jobs, it’s essential to know why you are leaving your current company and make sure you will get those things in the new company you are applying to.
You may also be wise to seek out people that work at your future company and ask them how they like working there.
Making a counteroffer can be one of the trickiest parts of the process. If you’re not happy with the offer you've received, you may want to make a counteroffer. However, it can be tricky to go about it the right way.
For example, if the manager you report to is the one making the offer, be sensitive to the work they have done internally to get your offer approved. If they have fought to get you a fair offer and you counter hard—you could offend them.
Before you start the negotiating, remind the person you are talking to the value you can bring their company.
Be subtle –express your desire to work for the company –and don’t be afraid to fight for your needs, whatever they may be. Keep in mind that all negotiations give and take. Be flexible if they do not increase your base but offer additional stock options --- be open-minded.
In Conclusion:
Negotiating is a vital part of accepting a job, so it’s essential to know how to do it properly. If working with a recruiter, they may be able to negotiate on your behalf. If not, at least they can advise you.
About Us:
Connexis Search Group is a permanent placement recruiting firm that places commercial and technical candidates in the life science, diagnostics, and biotechnology industries. We employ twenty-plus recruiters located throughout the United States. Connexis Search Group places over 150 candidates per year and has been in business for more than twenty years.