Women in Informatics Presents Salary Negotiation Workshop
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This powerpoint is filled with amazing tips on salary negotiation when preparing for accepting jobs. Content in the slides are created by Audrey Bach and Liz Morgan!
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Women in Informatics Presents Salary Negotiation Workshop
- 1. Salary Negotiation Aubrey Bach - PayScale.com Liz Morgan - LinkedIn
- 2. When, Why and How
- 3. You Can't Count on Karma Even if you make all the right choices, you aren't guaranteed the salary you deserve. You have to ask.
- 4. The Gender Wage Gap There is a gender wage gap, but most people don't understand how it really works. Uncontrolled Controlled
- 5. Early Negotiations are Crucial Salary plateaus after age 40, often earlier for women. Negotiating your salary early in your career makes 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." - http://www.fastcompany.com/3021381/how-to-be-a- success-at-everything/49-of-job-candidates-never- negotiate-an-initial-employment
- 6. Talking About Salary is Scary Employers expect you to negotiate Data will set you free
- 7. What Is "Compensation?" Don't just negotiate salary. Negotiate your total compensation, including: - Salary - Bonuses - Perks/Benefits - Equity - Life/work balance - Opportunity for skill and career growth
- 8. How to Determine Your Market Worth What factors make the biggest difference on your worth? - Experience - Specific skill sets - Market demands User Interface Developer Product Manager Software Developer
- 9. PayScale.com Use our free online survey to determine ● How your current compensation compares ● Whether a job offer is fair ● What kind of salary a position you are interested in should fetch Compare My Salary Job Offer What-If/Research
- 10. The Art of Negotiation
- 11. Negotiation 101 The negotiation process revolves around two factors: what you are worth and what they are willing to pay for you
- 12. 3 Golden Rules of Negotiating ● Research your value ● Don’t be the first to disclose a number ● Prepare a counteroffer
- 13. 3 Common Mistakes ● Accepting the first salary offer ● Not being prepared with relevant information ● Neglecting to negotiate things beyond base pay
- 14. Types of negotiators 2 types of negotiators: ● A hard-style negotiator: firm, intimidating, forbidding body language, and tends to say “no” to everything. ● A soft-style negotiator: polite, bubbly, agreeable, tries to work with you.
- 15. Leading the conversation Candidate: "I'm really excited to work here, and I know that I will bring a lot of value. I appreciate the offer at $58,000, but was really expecting to be in the $65,000 range based on my experience, market value and skill set as it relates to this role. Can we look at a salary of $65,000 for this position?" Recruiter: "So glad to hear you're looking forward to working with us. We're really looking forward to having you. The salary we offered is what we have budgeted for the position and we feel it's a fair compensation.“ This may sound like it's the end of the conversation, but it's not— Candidate: "I understand where you're coming from, and just want to reiterate my enthusiasm for the position and working with you and the team. I think my skills are perfectly suited for this position, and are worth $65,000." muse.com
- 16. How things really work ● Work WITH your Recruiter ● Your Recruiter has a budget ● Recruiter + hiring manager can make changes to initial offer You can help your Recruiter by giving them justification for the changes you are asking for
- 18. Negotiation 101 recap ● Research your value and the company ● Don’t be the first to disclose a number ● Prepare a counteroffer ● Keep emotion out of the process
Editor's Notes
- If you're in this room, you already made some great choices - you chose a major that is in high demand and is likely to lead to a high-paying career. Major Early Career Salary Mid-Career Salary Computer Engineering (CE) $67,300 $108,600 Information Systems (IS) $53,500 $88,900 Human Computer Interaction (Master's) $82,500 $112,700
- When controlled for factors like job choice, experience, hours worked, education, etc., the difference in pay between men and women is not the 81 cents to a dollar statistic that you've probably heard. While there is a clear issue of women earning slightly less for the same work, and this gap growing as we climb to director and executive levels, the gap is really between 3-7% depending on your job level. The real causes of pay inequality result from job choice and behavior. Job and Major Choice: Overall, more women go into lower-paying fields like education, social work and the arts. Behavior: Women are less likely to negotiate their salary, ask for promotions, apply for jobs above their current level, speak up in meetings, etc.
- http://time.com/money/3034136/salary-negotiation-tips-first-job/