negotiate now! effective negotiation strategies for your first job

23
Negotiate Now! Effective Negotiation Strategies for Your First Job Aubrey Bach, Senior Manager of Editorial and Marketing, PayScale.com

Upload: payscalecom

Post on 19-Jul-2015

90 views

Category:

Career


0 download

TRANSCRIPT

Negotiate Now!Effective Negotiation

Strategies for Your First JobAubrey Bach, Senior Manager of Editorial and

Marketing, PayScale.com

Graduation!

Underemployment

means holding a job

that doesn’t put all of

your education,

experience and

ability to work

Who is Underemployed?

• 46% of millennials tell PayScale they are underemployed

• Women are more likely than men to identify as

underemployed

Understand Your Worth

• 83% of people

who say they are

underemployed

say it is because

they are

underpaid

• 55% of people

who say they are

underpaid are

actually paid

fairly for their

work

Use the PayScale Research Center to find out how much different jobs pay, and how salaries are affected by

• Experience

• Skills

• Location

• Employer

Use PayScale

to Research

Salaries

Early Salary Negotiations Are

Crucial

• Salary plateaus

after age 40,

often earlier for

women.

• Negotiating

your salary

early has a

HUGE impact

on future

earnings

"... a 25-year-old who negotiated

a starting salary of $55,000 will

earn $634,000 more than a non-

negotiator who accepted an

initial offer of $50,000.”

Oh snap.

- Fast Company

But Millennials Aren’t

Negotiating• Only 37% of

millennials have

asked for a raise

• 69% of those that did

ask for a raise got a

pay increase – 43%

got the raise they

asked for!

• 31% of female

millennials say they

have never negotiated

because they are

uncomfortable talking

It’s Even Harder for Women

• The gender wage

gap is real, but it

may not be what

you think it is

• In general, men

earn 3% to 7%

more than women

doing the same job

with the same

experience.

• The gap grows as

job titles increase

in rank

1. What you are worth

2. What they are willing to pay

you

Negotiation 101

Take the PayScale Survey

Determine How Much YOU

Should Earn in That Role

• The salary

negotiation process

starts as soon as

you fill out the first

application

• Never give a

number or

preferred salary

range on an

application

You Start

Negotiating

As Soon As

You Apply

Don’t Be

Scared

• Employers expect

you to negotiate.

• Data will set you

free.

Don’t Take The

First Offer

• Recruiters expect

you to negotiate.

• If the number they

offer doesn’t meet

the compensation

package you

researched, come

back with a

specific counter

offer.

What is

Compensation?• Salary

• Bonuses

• Equity

• PTO

• Flex time

• Retirement plans

• Health insurance

• Education

opportunities

Be Logical

Stick to a

Script

“Not only do I have

[all the standard

requirements that

everyone else has] +

but I also possess

[the following unique

traits that make me a

better candidate and

worth more money].”

- Jim Hopkinson (author of Salary

Tutor), PayScale Salary Negotiation

Guide contributor

Practice. A Lot.

Time Is

Your

Trump

Card.

Want More?

payscale.com/salary-negotiation-guide

Thank You!

Don’t be a stranger.

[email protected]

Twitter: @aubreybach