3. Negotiation Statistics
8 out of 10 employers say they are
willing to negotiate salary with job
applicants, but only 1/3 of applicants
feel comfortable negotiating
4. “A 22 year old who secures a $2,000
increase in annual salary at his or her first
job will, because of the compounding
effects of years of raises to follow, most
likely generate an extra $150,000 in extra
income over a 40-year period.” (Clark,
1999)
Negotiation Statistics
5. By not negotiating a first salary, an
individual stands to lose more than
$500,000 by age 60—and men are more than
four times as likely as women to negotiate a
first salary.
Women who consistently negotiate their
salary increases earn at least $1 million
more during their careers than women who
don’t (Babcock and Laschever).
Negotiation Statistics
6. When do you discuss salary?
Only after you have been offered the
job.
Negotiation Basics
7. Make sure to find salary information for
comparable jobs, before interviewing.
Negotiation Basics
8. Don’t comment right away.
Give them a chance to state whether it
is flexible.
Negotiation Basics
10. Do your Research (before the interview)
Know your Priorities
Build a Rapport and Stay Professional
Negotiation Strategies
11. Find objective criteria
Research pay levels for similar positions
– look at companies of similar size in
same industry
Add extra value (education, training,
special skills)
Do your Research
12. State needs up front – don’t nickel and
dime at the end.
Look for items that will not create
fairness issues with other employees.
Know your Priorities
13. • Consider pay for performance - bonuses or
stock options.
• Frame issues in terms of value to the
company or what you offer them, NOT why
you need it. Ex. They DO NOT care about
your car and house payments!
Know your Priorities
14. Preserve relationship at all times.
DO NOT negotiate until after you have the offer!!!!
DO NOT be too aggressive or give ultimatums.
Be congenial and show interest.
DO NOT ask for the moon!
Build a Rapport and Stay Professional
15. “What salary are you looking for?“
“What salary are you currently making?”
“Congratulations! We are happy to
extend and offer of $xx,xxx to you.”
What to Say When…
16. “What salary are you looking for?”
Strategy: Address the issue without offering
information.
“What salary are you currently making?”
Strategy: Delay the topic!
“Congratulations! We are happy to extend and offer
of %xx,xxx to you.”
Strategy: Get back to them.
What to Say When…
17. Remember to look at the entire package, not just
salary dollars.
If still too low, clarify the job responsibilities and
restate how you can benefit the organization.
If there is no room to move on salary, perhaps they can
offer signing bonus, annual bonus, earlier salary review,
more vacation time, etc.
Beware of asking for too much!
Tips
18. Base Pay
Annual Bonus
Incentive Pay
Medical/Dental Benefits
Car/Travel Expenses
Educational Benefits
Retirement Programs
Dependent Day Care & Medical
Reimbursement Accounts
Additional items could include: on site health club,
day care, schools, dry cleaning, concierge, etc.
Vacation Time
Other Leave Time
Flex-Time
Expense Accounts
Technology Allowance
Clothing/Parking
Life/Disability/Care Insurance
Stock Options/ Employee Ownership
Other Components
19. Be aware of your interests, needs, career
goals, and alternatives.
It might be better to take a job with a lower
starting salary but higher potential for
advancement or in a growth industry than just
to take a job with the highest pay.
Things to Remember
20. Assume the offer is negotiable.
Know your own market value.
Be honest, if you have more than one offer on
the table…let them know.
Things to Remember
Women often don't know the market value of their work: Women report salary expectations between 3 and 32 percent lower than those of men for the same jobs. In surveys, 2.5 times more women than men said they feel "a great deal of apprehension" about negotiating. Women typically ask for and get less when they do negotiate—on average, 30% less than men.
What salary are you looking for? Sample Answers "I'd be happy to discuss the issue of salary as we get further along in our conversations about this opportunity." "My salary requirements are negotiable md depend upon the responsibilities agreed upon at the time of a job offer.'' "My past work experience as a college student was part-time hourly work therefore my salary history is not included on my resume," What salary are you currently making? Sample Answers "Of course salazy is impottant to me, but at this point I am much more concerned with whether or not I am the right person for the job and if this company and position is a good fit for me. Once we determine if I'm the right person, I'm sure we can come up with a salary amount that is satisfactory for both of us." "Given the responsibiiities of this job, I would expect this position to pay in the range of ..." "After my review in four months in my current position, my salary will be raised within the range of $wr,xxx to xx,xxx." Congratulations! We- are happy to extend and offer of %xx,xxx to you. Sample Answers: 'Thank you for your offer of %xx,xxx. Could you please send that ta me in writing at XXXXX. (In the essence of time, you may request that the letter be emailed or faxed to you). J will review the details of the offer and get back to you within 24 hours, or whatever time frame is realistic." "Is this offer negotiable?" "How firm is that number?" "Could you tell me how you arrived at this compensation to make sure I understand the salary structure? I want this to work for both of us." "Could you telI me a little bit more about the benefits package for this position as well so that I can understand the offer