Here’s an ideal scenario: After a grueling number of job interviews with a prospective employer who is hiring someone for the job of your dreams, you’re again meeting with the hiring manager when she turns to face you and gives you the job offer, but at a salary below what you had expected. You are still excited, elated actually, but what you do next could have consequences for years to come.

Even if the job offer is acceptable to you, most career experts agree that you should take the time to clear your head and consider the offer — away from the pressure of an interview. So, make sure to thank the interviewer for the job offer and express your interest in the job and the company, but ask for some time to consider all the details.

But what if the offer is unacceptable to you? If it really is one of your dream jobs — or even simply a job you really want — you should consider moving into the negotiation phase by making a counter proposal to the employer. That’s what this article is all about — taking you through the key negotiation strategies you should apply and providing you with one key tool — the counter proposal letter — as a means to negotiating a better offer for yourself.

(A side note: you can find more negotiating information and links in our Salary Negotiation Resources … and while you’re there, be sure and take a tour of our Salary Negotiation Tutorial.)

Negotiable Elements of a Job Offer

• Salary
• Non-salary Compensation: signing bonus; performance bonus; profit-sharing, deferred compensation; severance package, stock options
• Relocation Expenses: house-hunting, temporary living allowance, closing costs, travel expenses, spouse job-hunting/re-employment expenses
• Benefits: vacation days (number, amount paid, timing), personal days, sick days, insurance (medical, dental, vision, life, disability), automobile (or other transportation) allowance, professional training/conference attendance, continuing education (tuition reimbursement), professional memberships, club (country or athletic) memberships, product discounts, clothing allowance, short-term loans
• Job-Specific: frequency of performance reviews, job title/role/duties, location/office, telecommuting, work hours and flexibility, starting date, performance standards/goals

Key Salary Negotiation Strategies

1. Delay salary and benefit negotiations for as long as possible in the interview process.

You’ll have more power to negotiate when the field of candidates has been reduced to just you — when the employer is completely sold on you as the best candidate for the position.

2. Remember that you’ll have your greatest negotiation leverage between the time the employer makes the original offer and the time you accept the final offer. Once you accept an offer, you have little to no room to negotiate.

3. Don’t negotiate at the time the initial job offer is made.

Thank the employer for the offer and express your strong interest and enthusiasm in the job, but state that you’ll need time to evaluate the entire compensation package. Most employers are willing to give you a fair amount of time to review — and if you run across an employer who wants a decision immediately, consider long and hard whether you want to work for such a company.

4. Do your research.

The greatest tool in any negotiation is information. Make sure you have done a thorough job of determining your fair market value for the job you are seeking, the salary range of the job for this specific employer, and geographic, economic, industry, and company-specific factors that might affect the given salary. Also try to obtain information on the employer’s standard benefits package so that you have information beyond salary.

5. Just do it.

While a large percentage of corporate recruiters (four out of five in one study conducted by the Society for Human Resource Management) are willing to negotiate compensation, only a small percentage of job-seekers actually do so. You don’t have to be an expert negotiator to get a sweeter deal; you just need to know the rules and strategies of negotiation.

6. Negotiate to your strength.

If you are a smooth talker (an extravert), call the employer and ask for a follow-up meeting to discuss a counter proposal. If you communicate better in writing, follow our guidelines for writing a counter proposal letter (below).

7. Always ask for a higher salary (within acceptable limits) than you are willing to accept so that when the employer counters your proposal, the salary should be near your original goal. And when possible, try and show how your actions (once on board) will recoup the extra amount (or more) that you are seeking — through cost savings or increased sales revenue, productivity, efficiencies.

8. If the salary you’re offered is on the low end — and the employer has stated that salary is not negotiable (probably due to corporate salary ranges or pay grade levels), consider negotiating for a signing bonus, higher performance bonuses, or a shorter time frame for a performance review and raise. Always negotiate base salary first, and then move on to other elements of the job offer.

9. When presenting a counter proposal to the employer, be sure and include a few benefits that are expendable so that you can drop them in a concession to the employer as negotiations continue.

10. Remember that even if all salary issues are “off the table,” there are still numerous other benefits you can negotiate, such as moving expenses, paid vacation or personal days, professional training, and more. See the sidebar for the entire list of negotiable items.