You were the top candidate in the interview for the marketing manager position with the ABC Marketing Firm. The hiring manager calls and offers you the position with a base salary of $58,000, plus benefits. With your extensive experience and now your degree, you were hoping for an offer of around $75,000, plus benefits, as you currently earn $63,000 as a marketing manager at your current firm without your new degree.
In a Microsoft Word Document explain:
- How would you handle this situation?
- What research could you do to back up your asking for more base salary?
- Write out a script for what you would say on the phone to the hiring manager at that moment:
Upload your APA style document (in a Microsoft Word Document)
Expert Solution Preview
Introduction:
Negotiating a salary is an important part of any profession. In this scenario, we will analyze how a candidate for a marketing manager position can handle a salary negotiation when the offered base salary is below their expectations.
How would you handle this situation?
It is essential to approach this situation in a professional and respectful manner. The first thing that I would do is express gratitude for the opportunity to be considered for the position.
Next, I would ask the hiring manager if the salary offer presented is the final one or if there is room for negotiation. If the offer is final, I would thank them for their time and consideration and let them know that I would consider the offer and respond shortly.
If negotiation is possible, I would express my interest in the position and explain that my current compensation as a marketing manager with a similar role and industry experience is higher than the offered salary. I would present my case professionally and respectfully, with supporting evidence to demonstrate my value and contribution to the company.
What research could you do to back up your asking for more base salary?
There are several pieces of research that can be done to back up a request for a higher base salary, including:
1. Conducting market research to determine the expected salary range for similar positions in the industry and the region.
2. Considering the company’s financial status and performance to assess the potential for salary negotiation.
3. Taking into account the candidate’s previous salary history and experience in the industry.
4. Evaluating the responsibilities and duties associated with the marketing manager position and how they align with the company’s goals.
Write out a script for what you would say on the phone to the hiring manager at that moment:
“Thank you so much for the offer of the marketing manager position at ABC Marketing Firm. I am thrilled to be considered for this opportunity. However, I was expecting a higher base salary, around $75,000, plus benefits, based on my extensive experience in the field and my newly acquired degree.
I’m curious if there might be any room for flexibility in the compensation package offered? I recognize that this is not the final offer, but I wanted to make sure that we’re both on the same page before we move ahead.”
Offering a solution that benefits both parties and expressing gratitude for the opportunity are essential aspects of a successful salary negotiation.