I just received an offer and attempted to negotiate, but now the company's HR team is asking for a formal written explanation to justify my counteroffer. I guess they want me to pitch why I believe I deserve that particular amount, but it seems like an unnecessary step to me. Is asking for something in writing common these days?

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Yes I always counter offer in writing with facts to justify reason. HR needs this to support they are not paying a specific group more than the authorized salary band. It is a legal CYA move. Example, years of experience, advanced degrees, certifications, specific accomplishments that can transfer to new job.
Keep it high level with bullets.

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Not in my experience. I do always provide some kind of justification for my request in my counter email though, so asking for it would be redundant. Did you do that? Or just give a number?

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Everything should be in writing these days. It protects you just as much as it protects them. This is actually a big green flag. You know they are organized and have some good processes in place.

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Likelihood is your counter offer is above their internal pay band for either your title or the pay band code that's attached to that title and titles that fall around it. If they accept your counter offer it may effect the entire billing code attached to that title and those similar. This may have long term ramifications for yourself and any future tire and they need to push this pretty high up to adjust across the board for any new prospective candidates to the effected roles. Normally a hiring manager would so this. In your case they left it up to you. Go ham but make sure everything is justified.

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