Resources - Job & Salary Negotiations

8/2/2019 Resources - Job & Salary Negotiations

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Job Offer & Salary Negotiations

A Unit of the Division of Student Life

134 Mary Gates Hall

(206) [email protected]

depts.washington.edu/careers/


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Overview

Employers concerns Negotiations timing and strategies

Scenario

Employer turn offs

Cautions

Comparing offers

Acceptance and follow up

Further info


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Salary Negotiations

The idea is to approach the issue as if

problem solving with both you and the

interviewer working for the sameobjective - fair compensation

Express appreciation and acknowledge

the interviewers investment of time

and effort


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Employers Concern

The employer is mostly concerned about

a) getting you at a bargain.

b) finding a good match regarding your

value and the position at a fair salary.

c) what you need to survive.

d) whether you fit into their budget.


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Employers concern

How can you be valuable to me?

Ways to demonstrate value and worth -

Strengths, accomplishments, results in ...

academic coursework and projects, jobs,

internships, student organization

experience, volunteer experience,

activities


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Added Value Items

Special skills and training up to 5% increase

Related experience

Internships, co-ops, jobs 1-3% increase

Hot Jobs up to 5% increase

University Reputation 1-2% increase for better programs

All dependent on company needs andlabor market conditions


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When to Accept? The best time to accept a job offer is

a) as soon as you get one.

b) during the second interview. c) after you get all your offers.

d) after you have had time to think about it.

e) within one week of receiving it.


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Discussing Salary The best time to discuss salary is

a) before the job is offered so they see the

bargain you are.

b) after the job is offered.

c) at the end of the first interview.

d) best not to discuss and just take what isoffered.


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Researching Salaries Research resources

NACE Salary Survey

CCS Web Resources

Books and Guides


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Scenario Tom has been interviewing with several

companies and has received a job offer from asmaller local firm that would allow him to workon a variety of projects, develop new skills andcontinue taking courses at the UW. The

company has given him one week to reviewtheir offer. During that week Tom interviewedwith another large well-known out of state firmthat would look good on his resume. At theend of the week he had not heard from thelarge company, so he accepted the job offerfrom the small local firm. A half hour later hereceived a call from the large company offeringhim a job at $8,000 more annually plus a

signing bonus. What are his options?


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Got the Offer? Once you have accepted an offer

a) you can ignore it if a better job comes

along.

b) you keep looking for other jobs to get

the employer to raise their salary.

c) you stop your job search. d) you jump up and down and say Yes!


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Second Thoughts?

If you accept an offer and back out

a) the recruiter will forgive and forget.

b) you can reapply later and it wont matter.

c) the recruiter will remember you and thinkless of your integrity.

d) you will likely never be able to work forthat company.

e) your reputation in the industry will bediminished.


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What Does It Cost To Hire?

The average cost-per-hire for a company is

approximately

a) $1,000 b) $4,000

c) $6,000

d) $10,000

* Source: National Association of Colleges & Employers & Electronic Recruiting Exchange


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Salary Negotiations

Emphasize fairness and trust

Both parties are working towards the same

goal fair compensation

See Salary Negotiation Tips When, What, How??


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When Do You Negotiate? Getting the job offer before you discuss

salary gives you more leverage

Tips for what to do if an employer asks

about salary before offering you the job

If an offer is not meeting expectations

Below what you are worth

Below industry standards


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What to Negotiate

Most negotiable

Paid time off

Relocation

Flex time

Additional training/schooling

Other negotiable items


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How to Keep Negotiations Going Ask questions

What do you think?

How can we make this work?

What is the salary range for this position?

Dont ask

Why cant you pay me more?

I need more to live on

Use silence


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Employer Turn-Offs

Comparing their offer with other company

offers to other students

Especially if only small differences: ($1,000-$2,000)

Applicants who are focused only on

money and try to negotiate every item

Negotiating performance review dates

different from company policy


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Other Strategies

Negotiate for the future

Hip-pocket job


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Cautions and Caveats

You might be happy with first offer

Asking Is it negotiable? if not sure

Be aware of monetary and cultural cues Use caution with email salary negotiations

Think before you speak

How you negotiate sets the tone for how

you enter the organization


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Comparing Offers Financial - salary, bonus, stocks, relocation

expense, retirement plans

Benefits - medical, dental, other insurance

Challenging projects

Growth - training and development

Other - conference attendance, vacation and

other leaves, flexible hours, on-site amenities


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Acceptance & Follow-up

Get job offer and salary in writing

Acceptance/Withdrawal letters

Acceptance remorse

attitude - no regrets

best decision at time based on

information you have

consider your own integrity and ethics


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Further Information

CCS Web Resources

UW Odegaard Library Career Section

2nd Floor

CollegeGrad.com

Click on Salaries and Job Offers

CareerJournal.com

click on Salary & Hiring Info

Questions??
http://www.collegegrad.com/http://www.careerjournal.com/http://www.careerjournal.com/http://www.collegegrad.com/


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Job Offer & Salary Negotiations

A Unit of the Division of Student Life

134 Mary Gates Hall

(206) [email protected]

http://depts.washington.edu/careers

Documents

Resources - Job & Salary Negotiations