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8 Ways to Ask for More Money When Offered a Job

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Workplace

8 Ways to Ask for More Money When Offered a Job

It is always a stronger strategy to ask for more money when offered a job than after you accept it. It often takes months or more for an employer to offer a raise.

When asking for an increased salary in counter to a job offer, be careful in your approach. An overly zealous strategy can ruin your chances of employment.

In this article, we’ll tell you everything you need to know about how to ask for more money when offered a job, and we’ll give you all the tools you need to succeed.



But before we touch on the specific tactics for negotiating a more robust salary, let’s take a look at some points you will need to consider before making your request.


 

How to Ask for More Money When Offered a Job: What to Consider Before the Negotiation

 
Before the negotiation begins, you will have to prepare with a little research and planning. These points are crucial in how to ask for more money when offered a job, and they will increase your chances of coming out of the negotiation victorious.
 
To prepare for your negotiation:
 

01Do your homework
 
For any position to which you apply, it is always a smart idea to investigate your potential employer and prepare in advance.
 
Find out what similar positions are drawing as a salary and compare the market price to your proposed compensation.
 
If you’ve been offered significantly less than your peers, you have every right to ask for more money. However, if you’ve been offered more than the market price, you might want to reconsider your request.

 

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02Have a good reason for asking
 
Strong motivation for asking for more money will improve your chances of hearing a yes in response to your request.
 
Avoid referencing personal reasons like paying off your student loans or mortgages. Everyone has bills to pay, and your employers will rarely find sympathy for your needs.
 
Valid reasons are based on industry standards and the value you bring to the company—your years of experience in the field or industry compensation standards.

 

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03Think about the value of the job
 
A job with an okay salary and great benefits isn’t necessarily a worse offer when compared to a higher paying job and fewer benefits.
 
For instance, a job with a lesser salary may have a great retirement plan, promotion potential, extensive insurance coverage, and flexible working hours.
 
On the other hand, a higher paying job may not have many vacation days, and you might not be reimbursed for certain job-related expenses.

 

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04Counter the offer with 10-25% above what was offered
 
Your counteroffer shouldn’t exceed 30% more than the original offer. An increase beyond 30% may indicate you believe yourself to be overqualified for the role and may cause issues in the long run.
 
Requesting a raise of 5% (or less) over the original offer may seem like you are just countering simply for the sake of negotiating.
 
Your counteroffer does not have to be monetary. Aside from the salary you’ll be receiving, you can ask for additional vacation days or request a portion of your workweek be satisfied from home.

 

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05Don’t get upset if you are denied
 
If your counteroffer gets declined, you have the option of accepting the job anyway or walking away.
 
If you walk away, you will likely lose employment prospects at that company in the future.
 
In many cases, employers are willing to negotiate, and if you make a strong enough case, they could find extra funds in the budget to bolster your salary.

 

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How to Ask for More Money When Offered a Job: Reasons to Support Your Request

 
The biggest factor in how to ask for more money when offered a job is your reason for asking. This is the foundation of your request that will help to convince your potential employer to give you more money.
 
Here are 8 of the top reasons for asking for more money when offered a job:
 

01Commuting/relocation allowance
 
If you find that you will need to travel a long distance to work, asking for a pay raise is in your best interest.
 
You can ask for a commuting stipend or the option to work a portion of the week from home.
 
This will, of course, only work if you are a top candidate with very in-demand skills and expertise.
 
If it is a job where you will need to travel to other cities or countries, it is likely that this will already be at the expense of the company, but it is never a bad idea to try to improve the quality of your stay and travel.
 
If the job will require you to relocate to a new city or country, higher costs of living warrant a relocation allowance.

 

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02The old job paid more
 
If you are coming from a job that paid a lot more than what you’ve been offered, you cannot be expected to accept a downgrade willingly.
 
This is a good reason to ask for more money (or benefits) since you were clearly a valuable member of your previous team and earned your elevated salary there.
 
Your most recent documented salary might make your potential employer reconsider their offer and what you could bring to the table for them.

 

03Market/industry salary
 
If, after doing your research, you find that this position is underpaid, you can use the market rate as support for your case in asking for more money.
 
For instance, if job A and job B both have a base pay of $35 per hour, yet you’ve been offered $20 per hour by company C, you and other job seekers are more likely to seek employment at A or B.
 
Salary documentation from other, similar companies is sure to make the employer reconsider their offer and readjust their budget to meet industry standards.

 

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04The benefits are subpar
 
If the job does not offer a great benefits package and they are not willing to negotiate on those terms, you can seek monetary compensation to overcome the gap.
 
For instance, if a large chunk of your salary goes toward health insurance costs, and you already have full coverage, you can ask to be compensated for the money you stand to lose.
 
If you have few vacation days, you can ask your employer to make up for it with an increased salary.

 

05Experience
 
If you feel your experience would benefit the company more than the offered salary would benefit you, you should touch on that topic when asking for more money.
 
Referencing your experience and expertise in the industry is a strong way to counter an offer, and it’s important to address the concern that the proposed offer is below your expectations.
 
This is an excellent tactic, especially when your services are in demand and other companies would be willing to negotiate with you.

 

06Personal risk/safety
 
If the job you are applying to puts your safety as risk while in the field, regardless of safety measures that they have put in place, you can ask for more money.
 
You have the right to be compensated fairly for the wear and tear on your body or the risks you will be taking daily. Your employer knows these risks, and they are likely to understand this, especially if the insurance benefits are less than overwhelming.

 

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07Extra responsibilities
 
If the job listing has x,y, and z as the responsibilities and expectations, but when you go to the interview, you find out that in reality, they expect t,u,v,w,z,y, and z, you can use this as grounds for asking for more money.
 
The reasoning is simple. If they want you to take on more responsibilities than the job description covered, they will have to pay more money for the extra time and effort you will put in.

 

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08Higher offer from a different company
 
If you are on the hunt for a job and get offered a higher salary at one company but have your heart set on another company that ultimately offers you a lesser package, you can discuss this alternative offer during salary negotiations.
 
To pull this off, you will have to show eagerness and enthusiasm about working with the company of your choice. Let them know that it would be unfortunate if their financial limitations prevented you from joining the company. It is important that you do not budge on your requests.
 
Your counteroffer should show a level of respect for the company, but also respect for yourself and your professional-value.

 

Alternatives for When You Are Not Offered a Higher Salary

 

01Expense account
 
If you need to travel a lot for your prospective employer, you might find that you have to spend some of your own money while on company business.
 
If you are not offered a company card for miscellaneous expenses, you can ask for an expense account or an allowance for your travel needs.

 

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02Performance-based bonuses
 
If there doesn’t appear to be a budget for a monthly increase in your salary or if you are in a commission-based field, asking for a performance-based bonus is a good way to cushion your income.
 
Performance-based bonuses put you in control of your income. That means that if you perform well, you will be rewarded.
 
Your employer will probably find this option more attractive than an increased monthly salary because they will be guaranteed a level of value for their money.
 
For instance, if you secure a contract or land a deal, you would be deserving of some of the profits the company receives.

 

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How to Ask for More Money When Offered a Job: 2 Templates to Use if Your Request is Denied

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If your request for more money is denied, you should respond professionally and respectfully.
 
Here are two templates you can use.
 

01“Unfortunately, I will not be able to move forward in this interview process. I do, however, hope that you guys find a great fit!”
 
This message is short and to the point. It states that you are not interested in further discussion and that they should move forward with another candidate.

 

02“Thank you for your time, but I will be seeking employment elsewhere. Best of luck with your employee search.”
 
By expressing your wish that they find a good match, you are respectfully declining their offer.

 

How to Ask for More Money When Offered a Job: 2 Templates to Use if Your Request is Approved

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When your request for more money succeeds, it is always a good idea to show gratitude. Here are two templates you can use.
 

01“I am glad that we could agree on my expected salary. I look forward to being a part of this company.”
 
This shows that you are pleased with the result of the negotiations and that you are enthusiastic to begin working there.

 

02“I appreciate your time and understanding. Let’s iron out the rest of the details.”
 
This short message elegantly states that you are ready for work!

 

Lastly

 
When you walk into that follow-up interview knowing how to ask for more money when offered a job, you will be more confident in your approach and are more likely to succeed.
 
Always remember to be respectful, regardless of their reaction. The right fit is out there for you!
 

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