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Know your worth
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Be transparent and respectful
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Compare and contrast
4
Negotiate strategically
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Make a decision and communicate it
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Here’s what else to consider
Negotiating your salary with multiple job offers or competing employers can be a challenging and stressful situation. You want to maximize your compensation and benefits, but you also don't want to lose a great opportunity or burn any bridges. How do you handle this scenario with confidence and tact? Here are some tips to help you navigate the process and achieve a win-win outcome.
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- Troy Bryant Head of Business Development @Ciellie
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- Matthew Luensmann Technical Recruiter | Partnering with small-midsized businesses to find top talent | Recruiting primarily…
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1 Know your worth
Before you enter any negotiation, you need to do your research and know your market value. You can use online tools, industry reports, and your network to find out the salary range and expectations for your role, skills, and experience. You also need to factor in your personal goals, preferences, and needs, such as location, work-life balance, growth potential, and culture fit. Having a clear idea of your worth will help you set a realistic and fair target salary and negotiate from a position of strength.
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- Troy Bryant Head of Business Development @Ciellie
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You don’t. Know your worth and skill set. Be an asset always and never a liability. Do what you know and say. If you can truly help your new potential employer accomplish the tasks at hand then you are more valuable then you know or think.
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2 Be transparent and respectful
When you have multiple job offers or competing employers, you need to be honest and respectful with all parties involved. You don't have to disclose the exact details of your other offers, but you should inform them that you are considering other options and give them a timeline for your decision. You should also express your interest and enthusiasm for each opportunity and thank them for their offer. Being transparent and respectful will help you maintain a positive relationship with each employer and avoid any misunderstandings or conflicts.
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- Tom Harber Negotiation | Performance
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Whether you voluntarily disclose alternatives or not depends on the other side's perception of the strength of those alternatives.
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- Matthew Luensmann Technical Recruiter | Partnering with small-midsized businesses to find top talent | Recruiting primarily IT/Engineering Talent. Secondarily: Professional Services - The Christian Hiring Consultant
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Coming from a recruiting/recruiter perspective - the more details I have from a candidate on competing offers - the more I can fight and push for the candidate to get what they want - depending upon how reasonable it is. Be reasonable about your asks from companies in the offer process - do your market research and see what people in the role you are being offered, in the market that you live - are making. Don't ask for $150K with 2 years of experience - it's not going to happen and it makes you look out of touch. Communicate in a reasonable timeframe and set expectations for when you want to wrap things up by - or follow the employers deadline as closely as possible.
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3 Compare and contrast
Once you have all the offers on the table, you need to compare and contrast them carefully. Don't just focus on the salary, but also look at the total compensation package, including bonuses, stock options, benefits, perks, and incentives. You also need to consider the non-monetary aspects of each offer, such as the role, responsibilities, team, culture, values, mission, and vision of each organization. You should weigh the pros and cons of each offer and rank them according to your priorities and preferences.
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- Matthew Luensmann Technical Recruiter | Partnering with small-midsized businesses to find top talent | Recruiting primarily IT/Engineering Talent. Secondarily: Professional Services - The Christian Hiring Consultant
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My advice is this: don't overthink it! Keep it simple. Weigh your major areas (salary, benefits, location, perks, CULTURE, etc) and then make your decision. There's always going to be some give and take in offers - you're not going to get the best of both worlds in one offer. Also - follow your gut. You have to make this decision for you. Involve your spouse or significant other if you have one - and then make your decision!
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4 Negotiate strategically
After you have evaluated all the offers, you need to negotiate strategically with each employer. You should start with your top choice and communicate your interest and appreciation, but also mention that you have other competitive offers and ask if they can improve their offer. You should use your market value and your other offers as leverage, but avoid making ultimatums or threats. You should also be flexible and open-minded, and look for ways to create value for both sides. You should aim for a win-win outcome, where you get the best possible offer and the employer feels that they are getting a great employee.
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Be clear on your personal and career goals before accepting an offer. These two areas should be prioritized based on what matters most to you at the moment. Are you looking for a lateral move, a step up, or less responsibility? Are you at the beginning of your career or closer to retirement?Once you’ve determined your goals and priorities, be specific about what it will take to achieve them. In addition to money, benefits, and culture think about what other things will be important down the road. Is opportunity for continued advancement important or irrelevant? Do you care more about learning new skills or improving your existing strengths? Which offer are your goals and priorities most aligned with? Be transparent and don’t settle.
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- Tom Harber Negotiation | Performance
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Yes negotiate strategically, but the question of who to begin with is far more complicated than just "start with your top choice".
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5 Make a decision and communicate it
Finally, you need to make a decision and communicate it to all the employers. You should take your time and think carefully, but also respect the deadlines and expectations of each employer. You should choose the offer that best aligns with your goals, values, and needs, and that makes you happy and excited. You should then inform the employer of your acceptance and confirm the details of the offer in writing. You should also politely decline the other offers and thank them for their interest and consideration. You should express your gratitude and professionalism, and leave the door open for future opportunities.
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Negotiation is an Art and its comes with time as a person you grow in your career path. You lucky if you have multiple job offers' at the same time it shows that you are much deserving candidate (specially when you have decent WorkEx). Dealings with multiple job office needs lots of patience and strategies for example, you should know the needs of your potential employer with your desire and goals. If these 3 things are matching then you should be very straight with your objective to put accross the table of your each potential employers with dignity and be flexible in your communication. Accept the Best one.
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- Dane Vignjevic Co-Founder @ Digitanity | Driving Growth through Build-Operate-Transfer IT Recruitment / Third Party Recruitment and Employment Services
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In addition to the advice, consider factors like company culture, long-term prospects, benefits, location, stability, negotiation, mentorship, work-life balance, company values, cultural fit, feedback, legal terms, personal goals, alternative offers, professional development, networking, and market conditions when making a job offer decision. Each aspect contributes to a comprehensive evaluation for a well-informed choice. At the same time, respect the other companies and even offer honest feedback on why the decision was made. It helps these companies build more attractive offerings in the future and allows you to reapply with them down the road should you choose to move on.
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6 Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
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- Steve Weinberg Author of "Above Quota Performance," Sales Trainer, Business Advisor
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What a delightful problem-- deciding between 3 job offers! There are many factors to consider when deciding which to take and most people will go with the highest salary. I would look for the best fit for my personality and my long-term goals. The differences in salary will decrease over time. Handling the three offers requires superb communication skills. It is OK to let each know that other offers are on the table. Try to extend the offer time. Do not ask for anything until you have selected the company that is your first choice, and then begin negotiating with them for anything that you feel is missing or important, while keeping the others "warm."
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An aspect that many job applicants don’t consider before taking a job is doing research on the company’s reputation with prior employees, how have they behaved and what are the post employment experiences that may have been published on public records. To make the right decision about a job offer more and more taking into account others past experiences may shed a light onto possible negative or positive aspects that might skew a decision one way or the other.On another aspect, you need to be open and transparent with yourself and your employer regarding the type of company and it’s stage when you join. Are you the right pick for a start up? Have you considered the question before applying? Or do you really prefer a more stablished choice
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