Presented by Career Services

Spring 2009

Evaluating and Negotiating a Job Offer

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Learning Objectives

Recognize your needs (job and employer)

Understand the importance of research

Examine factors of negotiation

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Salary Negotiation

“The prospect of negotiating salary

and benefits strikes fear into the hearts

of many job seekers young and old.

But handling the inevitable money

questions doesn’t have to be difficult.

And the more you think about them

in advance, the easier they’ll be

for you to answer”

The 250 Job Interview Questions…!, Veruki, page 186

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Where Are You Coming From?

Employed, hoping for a raise Better paying position in same company New company, same type of work Career change Just out of college, some experience Just out of college, no experience Out of work About to be fired About to be downsized Ready to quit

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Where Are They Coming From?

New position

Filling vacant position

Contribution made by previous employee

Economy, supply and demand, profit

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Know Yourself

Work-related values

Interests

Skills

Strengths and weaknesses

What kind of environment do you want?6

Research Potential Employers

Initially, basic information: Name, address, phone, and fax Names and titles of key contacts Products and/or services; competition

As you start scheduling interviews, more details: Industry rank and size; subsidiaries Sales and profit trends Current plans

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Research: Where to Look

Library: Journals, newspapers, trade magazines, etc. Company website, hiring department, Human

Resources, etc. Industry and professional websites Websites for general salary information:

www.abbott-langer.com (non-profit and manufact.) www.salary.com www.salaryexpert.com www.bls.gov/ncs/ocs (US Dept of Labor)

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Research: Where to Look

Cities Ranked & Rated: More than 400 Metropolitan Areas Evaluated in the U.S. and Canada

Corporate Technology Directory: Information about ~35,000 companies in high-tech industries, such as computers, biotechnology, environmental engineering, chemical and pharmaceuticals, and transportation

Directory of Corporate Affiliations: Information about ~4,000 parent company’s divisions and subsidiaries

The National JobBank: Information about key contacts, common positions, and desired educational backgrounds at 21,000+ small and large companies

Standard & Poor’s Register of Corporations: Biographical info about officials at ~45,000 companies

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National Association of Colleges and Employers (NACE) Salary Survey: A study of 2006-2007 beginning offers

Average $ Offer• Aerospace: 53,408• Biomedical: 51,356• Civil: 48,509• Computer: 56,201• Electrical: 55,292• Indust Prod: 49,313

Average $ Offer• Indust/Man: 55,067• Materials: 56,233• Mechanical: 54,128• Nuclear: 56,587• Petroleum: 60,718• Systems: 54,124

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NACE Salary Survey, Summer 2007, Volume 46, Issue 3, www.naceweb.org

Research: Informational Interview

Often helpful before an interview Meet with someone in the industry or company

What got them into the business Their likes and dislikes Advice they can offer Potential topics or skills discussed in an interview Your strengths and weaknesses as a candidate Practice using industry terminology

Thank them in person and follow up with a note Promise to follow up on leads and updates about progress Maintain this relationship as part of your network, which can lead

to further information and opportunities

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Do You Want the Job?

Break down offer: Compensation and intangibles Compare to current position or needs and desires Compare to different offers Be enthusiastic: Find something you like Don’t accept solely based on a few thousand $ Opportunities for growth and development Company culture

Schedule, pace, flexibility Office environment

Teamwork and dialogue? Independent and isolated?

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Do You Want the Job?

Title and responsibilities Salary, overtime, bonus structure Tuition reimbursement Vacation, sick, parental leave Life, medical, dental insurance Discounted/On-site child care, dry

cleaning, gym, meals Relocation expenses Travel Costs of the job: Appearance,

transportation, commute, lifestyle13

Everyone Should be Satisfied

To succeed in negotiation, everyone should be satisfied No one should walk away feeling like they

were schemed or backed into a corner Don’t negotiate until an offer has been made

If an interviewer asks what you’re looking for early on in the process, suggest a range

Previous research should have shown a general salary range for your industry, position, level, and geographical location

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Everyone Should be Satisfied

It’s okay to ask if the offer is flexible Many are Entry-level positions often are not

Have a specific range in mind, as the recruiter may ask you point-blank what would satisfy you Don’t state a concrete number that’s absurd (may take you

out of the running) or lower than what they’re ready to offer Consider “Based on my experience and skills, and the

demands of the position, I’d expect to earn an appropriate figure. Can you give me some idea what kind of range you have in mind?”

The 250 Job Interview Questions…!, Veruki, page 18815

Possible Questions and Responses

What salary are you looking for? Provide a range, based on research Interviewers may use salary to screen applicants – be careful not to

screen yourself out, unless you have a hard minimum Do not negotiate if you don’t want the job – thank sincerely for their

time and consideration, but explain that this is the right fit at this time Why do you think you should get paid more?

Be prepared to convince, even if not asked directly Skills, background, room for growth, ethics, passion, personality

“Include your desired salary in your response” “Flexible,” “Negotiable,” “High 50s,” “Low 70s,” “Considering the current market conditions, the position as described,

and my experience and background, I feel that a salary range of $55,000 - $63.5000 would be appropriate, but I would consider the entire compensation package, including benefits, as well.”

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Possible Questions and Responses

Show that you are flexible, if you are Talk in terms of salary ranges and total compensation packages Something other than salary may be negotiable

Start date Flex hours: Come in and leave ½ hour earlier, telecommute Company pays for COBRA until health benefits kick in

If they remove an obstacle – be prepared to accept If the starting salary is low, then perhaps they will agree to an earlier performance

review Book includes possible responses to address over-qualified applicants, moving

from higher cost-of-living to lower location, etc.

Perfect Phrases for Negotiating Salary & Job Offers, DeLuca and DeLuca

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Negotiation Guidelines

Silence can be a tool. Answer, then stop talking Control disclosure. Don’t tip your hand too early, don’t seem too eager Be firm in what you say. Use “no” wisely Know what is negotiable and why Be consistent. If an agreement has been made, move on Remember what is important to you. Don’t get side-tracked and forget

to ask a key question Find out when they need an answer. Don’t be pressured. Ask for time

to think it over Ask for the offer, with the details, in writing (email, mail, fax) Keep the door open. Maintain cordial relations, even if you aren’t

offered or don’t accept. Send a letter expressing appreciation

Perfect Phrases for Negotiating Salary & Job Offers, DeLuca and DeLuca

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Thank You Letter – Accept

Thank you and acceptance letter

“Thank you for the time spent with me on… and the tour of… I particularly appreciate… With great enthusiasm, I accept the offer to join (company) as (title) with an annual salary of ($). I understand the benefit package will include…”

Thank you and confirmation letter (If offer not in writing)

“Thank you for the offer of employment that you extended to me yesterday. Below is a summary of my understanding… (title, start date, salary, bonus). In closing, let me thank you personally for your assistance… I am looking forward to…”

Perfect Phrases for Negotiating Salary & Job Offers, DeLuca and DeLuca

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Thank You Letter – Decline/No Offer

Thank you and declination letter

“Thank you for the time spent with me on… I particularly appreciate… However, after much thought and consideration, I do not feel that accepting this position would be the best decision at this time. I greatly appreciate the time and interest that you gave my candidacy and am disappointed that we were unable to come to mutually agreeable terms…”

Thank you letter (no offer)

“Thank you for the time spent with me on… I particularly enjoyed… Although I feel that my skills and experience were a match for the position of…, I understand that there is great competition to work with (company). Should another position open up that you feel would be a better fit with my skill set, I would be glad to discuss it with you further.”

Perfect Phrases for Negotiating Salary & Job Offers, DeLuca and DeLuca

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Career Fair

Tuesday, Feb 3, 2009

10am-3pm

UP

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