How can I get more than they're willing to pay?

Question:

What's a good comeback when a prospective employer says, "We are interested in you. However, the salary range you want is a bit more than our budget allows. How do you feel about accepting less?"

 

I'd like to say that I'm worth every dime (and more) that I'm asking, but that sounds so pretentious. Saying, "Well, I may as well stay where I am," sounds even worse?and stupid to boot. What's so irritating is the new position is one I really want. Any ideas?

 

Reply:

Well, such a statement from a company sure beats having a company say "no, thanks" and never giving you a chance to come back at them with another deal.

 

I think in this situation, where the company is trying to negotiate, it's a good idea to open a bigger discussion. If you're willing to come down on the compensation because you really want the job, that's up to you. But if you want to stick to your guns, then you can slice the compensation issue several ways.

 

Here are some ideas. First, start by saying, "Thanks for being honest about your budget and for indicating you'd like to find a way to hire me anyway. I want you to know that I really want this job, and I want to work on your team. So, the good news is we're in agreement about wanting to work together. But, I can't afford to take less than I'm worth. I know what I'm worth from my experience and discussions with other companies. But let's see if we can come at this another way that would benefit us both..."

 

Then ask one or more of these questions:

 

"If this is a fixed-cost issue (that is, you're not able to go up on the salary), would it be possible to create a bonus for me based on performance or some other objectively measurable criteria? In other words, if I can 'do more,' you'll pay me more."

 

"I might be willing to consider less, if you'd be willing to shorten my workday or workweek to make up for it."

 

That's another form of compensation?time.

 

"Would you be willing to make up for the lower salary with other benefits? Say, an expanded educational allowance, a signing bonus, extra vacation time, a car allowance, etc.?"

 

Remember that some benefits, like a signing bonus, are paid just once, and they don't affect your income after the first year.

 

"I assume you can't afford what I'm asking because there's not enough profit produced by the job you want me to do. Suppose we found a way to make the job more profitable for the company. Would you be willing to share the added profit in the form of a higher salary or a bonus? That way, you're spending 'new money' that I'd help you create."

 

Now it's up to you as the candidate to figure out how you'd save the company money they didn't expect or how you'd help them increase their revenues. Don't wait for the company to figure this out. If you're going to suggest it, be ready to present some ideas.

 

"Suppose we added an extra function or two to this job?functions you'd have to pay someone else to do, but which I could squeeze into my workday. Would you be willing to pay me extra to assume those additional duties?"

 

Be careful that you don't wind up accepting two jobs! If you handle this with some finesse, you may be able to take on some minor additional duties that don't really require much effort. This could make it possible for the manager to obtain funds?to cover the extra salary?from another group that would benefit from having you perform some extra tasks.

 

Your goal is to help the company avoid spending money it doesn't have. If you can do the job in a way that lowers costs or increases revenue, they'll have more money to spend on your salary (or bonus).

 

If this seems like a far-fetched approach, realize that lots of "stalled deals" are finally closed because someone came up with a very clever, unusual way to make the deal pay off for all concerned without hurting anyone's interests in the process.

 

There are lots of ways to "skin the cat." When an employer is open to talking about it, take advantage of the opportunity and get creative! Just remember: It's got to be a win-win situation. (A big key in this is that the employer has already said they want you?and that's half the game! It gives you lots of leverage.)

 

I hope this helps you take a different and more useful approach.

 

Cheers,

Nick Corcodilos

Ask The Headhunter®