Ask for Time
If the offer isn't what you expected, tell the employer that you are excited for the opportunity, but ask for some time to consider the terms of the offer. Most employers will give you a day or two to consider.
The Counter Offer
Before you do anything, it's important to realize that while you impressed the company enough to be offered a position it doesn't mean that they will jump at the chance to offer you more money. So, don't automatically assume that your offer can be negotiated. Also be aware of the consequences of submitting a counter offer. But, by the same token, some employers expect that there will be negotiations, and understand that initial job offers are just jumping off points in the negotiation process.
If you do proceed with negotiating, decide which terms of the offer you want to try to negotiate. Don't just tell the company that you want more money. Have a set number in mind. Then, have an idea of how low you are willing to go (incase your counter offer is declined). If you're not exactly sure how much to ask for, check job postings, state sites, or other websites that have the average pay for the position you're being offered. Be sure to have an explanation and reasons that you feel you deserve your increase. For example, you can explain to the employer that based on your research for the position at hand, you feel that your wages should be closer to X amount. Or, you can say that because you have more schooling, or experience than the job posting required, you feel your wages should be closer to a specific salary.
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