Friday, August 23 - "Will The Offer Be Revoked?"

Happy Friday,

Here’s what’s on the job description for today:

1. One of Europe’s main players in the startup ecosystem is hiring.

2. Penelope asks, “I want to ask for more money or maybe a signing bonus. Do you think my offer might be revoked?”

IN HIRING

Founders Factory

• Helping those that want to be part of early stage companies reach massive success, there are few other places where one can become a CEO overnight.

• With less roles than big corporates, Founders Factory provides candidates with massive responsibility and uncapped earnings, making it the perfect fit for certain candidates.

• Here are a few of the most interesting roles available

  • Founder & CEO, Ag-Tech - Click here for full details

  • Technical Co-Founder, Ag-Tech - Click here for full details

  • Founder’s Associate, Early Stage - Click here for full details

Click here for the company’s career page

TODAY’S QUESTION

Penelope asks, “I want to ask for more money or maybe a signing bonus. Do you think my offer might be revoked?”

Recommendation: I always recommend asking, but here is what I’ve seen when it comes to negotiating offers:

• One quick note off the top - nearly all candidates I work with try to negotiate. About 50% get something but many get told no and in recent months, my anecdotal evidence is that hiring teams have less negotiating room than previously.

• So will your offer be revoked?

  • It’s highly unlikely but not impossible. You’re dealing with humans, and they sometimes do dumb things. I’ve never seen it but I’ve heard stories and don’t want to say it will never happen, but that it’s just very very unlikely.

  • What’s more likely is that hiring teams will mention this has happened in the past or could happen but won’t actually follow through. Who wants to repeat a hiring process - it sucks for everyone involved.

• Finally, if you’re going to negotiate, here are two good strategies I’ve seen:

  1. Give them options: I’m open to a higher salary or a starting bonus to get settled. Which of those works best for you?

  2. Considering all options: I’d prefer a higher salary but am open to a change in title. Can we add “lead” or “senior” to my role (they probably won’t want to unless they’re a tiny company but it will push them to a salary increase)

Conclusion:

Negotiation is one of my favorite parts of the process. It’s exciting and there’s an offer - as well, you now hold some power since you know they want you. Take a chance and ask for what you want and see where it takes you :)

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