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Salary And Offer Negotiation

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Salary And Offer Negotiation

  1. 1. Salary and Offer Negotiation Making the Most of Your Career Decisions
  2. 2. What’s Most Important to You? <ul><li>Salary </li></ul><ul><li>Benefits (insurance, flexible spending accounts, child care…) </li></ul><ul><li>Location </li></ul><ul><li>Training </li></ul><ul><li>Advancement </li></ul><ul><li>Size of company </li></ul><ul><li>Supervisor </li></ul><ul><li>Colleagues </li></ul><ul><li>Flexibility </li></ul><ul><li>Title </li></ul><ul><li>Travel </li></ul><ul><li>Professional development </li></ul><ul><li>Wellness </li></ul>
  3. 3. Weighing your options <ul><li>How will I spend my time? </li></ul><ul><li>How patient am I? </li></ul><ul><li>What pressures do I confront? </li></ul><ul><li>What financial obligations do I face </li></ul>
  4. 4. I’ve got the offer, now what? <ul><li>Acknowledge the offer and take a little time—consider negotiating </li></ul><ul><li>CareerBuilder.com's survey of 875 hiring managers revealed that about 60% leave room in the first offer for salary negotiations , 30% say their first offer is final, and 10% say it depends on the candidate. </li></ul><ul><li>LOEB, M. (2006). “It Pays to Ask For More Money,” http://www.collegejournal.com/salaryinfo/negotiationtips/20060831-loeb.html </li></ul>
  5. 5. I’ve got the offer, now what? <ul><li>Know the going rate-Research! Try: </li></ul><ul><ul><li>salary.com (build a personal profile) </li></ul></ul><ul><ul><li>America’s CareerInfonet </li></ul></ul><ul><ul><li>Monster Salary Wizard then compare </li></ul></ul><ul><ul><li>CareerJournal.com (salaries by industry) </li></ul></ul><ul><ul><li>Check position vacancies/want ads </li></ul></ul><ul><ul><li>Ask current employees </li></ul></ul><ul><ul><li>VAULTGuides </li></ul></ul>
  6. 6. I’ve got the offer, now what? <ul><li>Settle on a range, not a number </li></ul><ul><li>Based on your research, suggest a $5-$10,000 range </li></ul><ul><li>State your case—share your legitimate reasons for requesting a higher salary </li></ul>
  7. 7. I’ve got the offer, now what? <ul><li>If salary isn’t negotiable, offer options </li></ul><ul><ul><li>Vacation </li></ul></ul><ul><ul><li>Moving expenses </li></ul></ul><ul><ul><li>Flex time </li></ul></ul><ul><ul><li>Bonuses </li></ul></ul><ul><ul><li>Travel </li></ul></ul><ul><ul><li>Ongoing training or education </li></ul></ul>
  8. 8. The best time to negotiate is… <ul><li>At the end of the first interview </li></ul><ul><li>When I’m invited to visit the company </li></ul><ul><li>When I’ve been given an offer </li></ul>
  9. 9. I’ve been invited to interview on-site, so this means… <ul><li>I’ve got the offer in the bag </li></ul><ul><li>I’m still being considered </li></ul><ul><li>This is the last interview </li></ul><ul><li>Please remember you are always on ! </li></ul>
  10. 10. I’ve accepted an offer… <ul><li>But another one comes in that I like more. What do I do? </li></ul>
  11. 11. Where to go for help <ul><li>Jobweb.com , </li></ul><ul><ul><li>Evaluating Job Offers & Negotiating Salary , http://www.jobweb.com/studentarticles.aspx?id=322&terms=Evaluating+job+offers+and+negotiating </li></ul></ul><ul><ul><li>Benefits Count , http://www.jobweb.com/studentarticles.aspx?id=262 </li></ul></ul>
  12. 12. Where to go for help <ul><li>CollegeJournal.com Negotiation Tips http://www.collegejournal.com/salaryinfo/negotiationtips/ </li></ul><ul><li>Rileyguide.com Evaluating and Negotiating Job Offers http://www.rileyguide.com/offers.html </li></ul>
  13. 13. Where to go for help <ul><li>Monster.com, Job Assessor , http://salary.monster.com/jobassessor/layoutscripts/joel_start.asp </li></ul><ul><li>Monster.com, Salary Negotiation Know-How , http://career-advice.monster.com/salary-negotiation/Salary-Negotiation-Know-How/home.aspx </li></ul>
  14. 14. Evaluate and Negotiate it’s not all about the money <ul><li>Vacation/holidays </li></ul><ul><li>Retirement </li></ul><ul><li>Life and Disability Insurance </li></ul><ul><li>Medical Insurance </li></ul>Adapted from Denham, T. J., “Evaluating Job Offers and Negotiating Salary.&quot; www.jobweb.com
  15. 15. Evaluate and Negotiate it’s not all about the money <ul><li>Tuition Assistance </li></ul><ul><li>Stock Purchase or Savings Plan </li></ul><ul><li>Child Care </li></ul><ul><li>Bonuses </li></ul><ul><li>Wellness </li></ul>Adapted from Denham, T. J., “Evaluating Job Offers and Negotiating Salary.&quot; www.jobweb.com
  16. 16. In the first year… <ul><li>Learn the culture </li></ul><ul><li>Slow down </li></ul><ul><li>Manage your impression </li></ul><ul><li>Learn how to be new </li></ul>Holton, E. (2006). The critical first year on the job. Job Choices, 49 th edition , pp. 54-57
  17. 17. In the first year… <ul><li>Manage your expectations </li></ul><ul><li>Become a savvy subordinate </li></ul><ul><li>Take time for you </li></ul>Holton, E. (2006). The critical first year on the job. Job Choices, 49th edition , pp. 54-57
  18. 18. What if I’m not happy? <ul><li>Try to demonstrate patience </li></ul><ul><li>Perform with 100% effort </li></ul><ul><li>Network </li></ul><ul><li>Don’t quit </li></ul><ul><li>Begin your search </li></ul>

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