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Lynda: Negotiating Your Job Offer
- 1. Negotiating Your Job Offer Created by: Erin Wyrick Penn State University Business Student
- 2. Bottom-Line Summary This Lynda certification teaches you about how to get what you want from a job offer by talking about evaluating the offer, negotiation myths, strategies, and unexpected situations.
- 3. Before You Get an Offer
- 4. Research the Position & Salary ➔ 5 Aspects of a New Role ◆ Expected Responsibilities ◆ Potential Challenges ◆ Career Growth Opportunities ◆ Understand the Company Values & Reputation ◆ Location & Commute to the office
- 5. Get Clear on What You Want Ask Yourself the Following Questions: ➔ What are my must haves? ➔ What are my walkaways? ➔ What are my trade offs?
- 6. Establish a Salary Range with the Employer ➔ Inform recruiters of your current salary & other forms of compensation ➔ Know the total compensation package you are looking for ➔ Clarify if your salary range aligns with the company’s budget
- 7. Receiving & Evaluating an Offer
- 8. When You Receive an Offer ➔ Always start by showing excitement ➔ Do not say “yes” until you understand all the details ➔ Get the offer put into writing and review the details ➔ Clarify how long you have to review the offer
- 9. Common Terms & Factors ➔ Base Pay ➔ Bonus Pay ➔ Paid Time Off ➔ Benefits ◆ Health Insurance, Retirement Savings, Life Insurance, Long or Short Term Disability ➔ Stock & Equity
- 10. Evaluate Total Compensation Ask Yourself the Following Questions: ➔ Is this job the right fit for me? ➔ What am I gaining? ➔ What might I be losing? ➔ Do these things align with my must-haves & driving factors? ➔ What am I willing to trade-off or give up?
- 11. What’s the most negotiable in a job offer? Flexible Areas ➔ Base Salary ➔ Equity ➔ Long-Term Incentives ➔ Sign-On Bonus Difficult Areas ➔ Paid Time Off ➔ Bonus structures ➔ Benefits
- 12. Negotiate Salary
- 13. Prepare Questions & Counterpoints ➔ Can the base salary or bonus be increased? ➔ What is the value of the medical or retirement benefits? ➔ Is there any opportunity for flexible work arrangements? ➔ What happens if I already have a vacation planned the exceeds PTO offered?
- 14. What to Avoid during Negotiations ➔ Being Unprepared ◆ Do your research so you can speak intelligently about the offer ➔ Making it Personal ◆ Keep the conversation business professional, no personal information ➔ Acting Entitled or Inflexible ◆ Always show gratitude & avoid being argumentative ➔ Being Unrealistic ◆ Use facts and data to support your claims
- 15. Salary Negotiation Myths ➔ The company is out to get the best deal possible ➔ Disclosing your current salary leads to being offered a lower salary ➔ Companies will be offended if you negotiate
- 17. Negotiating Salary at your First Job ➔ Research the position and salary range ➔ Show the value you bring to the table ◆ Internships, Apprenticeships, Volunteer
- 18. Negotiate a New Role ➔ Define the type of move you are considering to make ◆ Moving up, lateral or down ➔ Base your negotiation on the direction of the move
- 19. Transitioning to Your New Job
- 20. Giving a Respectful Notice ➔ Never leave on bad terms ➔ Give plenty of notice ➔ Give notice in person & in writing