As MBA student Lisa Malachowski negotiated her salary for a job set to begin this summer, a thought familiar to many young workers crossed her mind: 91ƵMaybe they91Ƶll withdraw the offer.91Ƶ
Malachowski, a soon-to-be-graduate of Concordia University91Ƶs John Molson School of Business (JMSB), had been offered a full-time position at the same tech company where she91Ƶd completed an internship last summer.
The 36-year-old also had 10 years of professional management experience, but said she wasn91Ƶt sure how valued those skills would be in her new career path.
91ƵOne of the hardest things is the knee-jerk reaction of, 91ƵIf I ask for too much, I look ridiculous,91Ƶ91Ƶ she said. 91ƵIt91Ƶs not ever an easy conversation to have. But I think one of the things that made it easier 91Ƶ is that I did so much market research beforehand that I was really confident about the range I was asking for. I didn91Ƶt feel like I was asking for anything unreasonable.91Ƶ
While salary negotiations are a normal part of the hiring process, experts say it91Ƶs a stone often left unturned by young candidates unsure of how to ask for more money from an employer. That same sense of intimidation is often also felt among young employees hesitant to ask for their first raise.
91ƵThe biggest mistake is not doing it,91Ƶ said JMSB graduate career adviser Bob Menard.
Menard, who leads workshops on how to negotiate salary and advises students on an individual basis, said most indicate they have never negotiated a job offer.
He said a common sentiment he hears is that it doesn91Ƶt seem appropriate with a first job.
91ƵIt91Ƶs always appropriate,91Ƶ Menard said. 91ƵI try to really stress with them if an employer is giving you an offer, it91Ƶs not just like you91Ƶre pulled out of a hat. They91Ƶve gone through a process to select you, so they have as much in it to lose if you walk away, or if they can91Ƶt meet your counter-offer.91Ƶ
Menard added most employers build in 91Ƶsome wiggle room91Ƶ to an offer 91Ƶ often around seven to 10 per cent in extra value 91Ƶ that they are willing to add if requested by a strong candidate. He suggested keeping a maximum counter-offer within that range.
91ƵIf you don91Ƶt try to access it, well, you91Ƶve left that on the table and long-term that could actually mean quite a bit of lost earnings for the person,91Ƶ he said. 91ƵIt91Ƶs OK to be nervous, but the employer has a lot invested in this, especially in today91Ƶs market.91Ƶ
Research published by Robert Half, a human resources consulting firm, in its 2023 Salary Guide suggests Canadians are increasingly overcoming the awkwardness of asking for more money.
Its poll of more than 500 Canadians last August found 47 per cent of respondents were more likely to request a higher starting salary compared to a year earlier. Fifty-seven per cent felt they, rather than employers, were in the driver91Ƶs seat in negotiating pay, perks and benefits.
Presenting a well-researched range in salary expectation, rather than a single target, can make the negotiation process smoother, according to Georgia Harper, president of Vancouver-based recruitment firm The Headhunters.
91ƵI always suggest to people that everybody has a bad day at work,91Ƶ she said. 91ƵNo matter how excited you are, make sure that you91Ƶre going to be comfortable with that compensation on a bad day. I think it91Ƶs also really important that number doesn91Ƶt change during the conversation.91Ƶ
For those already employed, preparation is also key when knocking on a boss91Ƶs door to talk numbers, added Harper.
The Robert Half poll found 34 per cent of respondents planned to ask for a raise from their employer if they didn91Ƶt get one 91Ƶ or the amount was lower than expected 91Ƶ by the end of 2022.
More than two in five respondents 91Ƶ91Ƶ91Ƶ91Ƶ91Ƶ91Ƶsaid they were taking on responsibilities outside their job description to better position themselves for a raise, while north of a quarter said they research salaries and share discrepancies with their manager.
Before having that conversation, Harper said she urges employees to research the market rate for their role and be ready to discuss how they91Ƶve grown in their responsibilities to justify a higher salary.
91ƵIf you91Ƶre looking for a raise, and you know that the market is paying higher, sharing that information is really valuable,91Ƶ said Harper, cautioning the research should not necessarily focus on individual postings.
91ƵLet91Ƶs say your job is the administrator; one company91Ƶs administrator does a different thing than another company91Ƶs administrators. You don91Ƶt want to [say], 91ƵI saw a job for an administrator that paid way more.91Ƶ You91Ƶve got to be a little bit careful that the work is aligned.91Ƶ
Malachowski, whose counter-offer was accepted, said her advice for other young professionals itching for a higher salary than offered is 91Ƶdon91Ƶt be afraid to ask for it.91Ƶ
91ƵIt91Ƶs about making that kind of human connection with a place that you actually want to work too,91Ƶ she said.
91ƵIf they91Ƶre the type of company that would pull the offer just because they feel you don91Ƶt provide that amount of value, that91Ƶs probably not a place that you actually want to work for.91Ƶ
91ƵSammy Hudes, The Canadian Press