Evaluating and Negotiating Job Offers

1
Evaluating and Negotiating Job Offers
2
Job Offer Defined

• A comprehensive package including everything from
  the specifications of duties to the location of
  the work setting
• Salary is just one feature of a job offer

3
Choose the Right Company for You

• What should you consider?
• The Industry
• The Company
• The Position
• Your Potential Supervisor
• Your Potential Co-workers

4
The Industry

• History or growth
• Predictable future need for goods and services
• Degree of dependence on business trends/cycles or
  government regulations/actions

5
The Company

• Is the company growing or downsizing?
• What is the work environment?
• Are the values of the company compatible with
  your lifestyle?

6
The Company

• What is the company reputation in field?
• Does the management team consist of new hires or
  are they promoted from within?
• Who are the companies competitors?

7
The Position

• Is there a training program? (how long?)
• What are the day-to-day activities?
• Amount of stress/pressure
• Requirements to relocate/travel ()?
• Requirements to work long hours and weekends?
• What will be your level of responsibility and/or
  level of autonomy?
• What is the growth potential in position?
• Are there opportunities for new skill
  development? (internal or external?)

8
The Position (Continued)

• What are the specific job responsibilities?
• Are salary and benefits satisfactory?
• Physical work environment?
• Pace of work? (daily, weekly, quarterly)
• Does this fit with career goals?
• Opportunity for continuing education/training
• Is this employment opportunity a mutually
  beneficial relationship?
• Will demands of job be compatible with your
  lifestyle?

9
Your Potential Supervisor

• Can you work well with this person?
• What is the experience level of your prospective
  supervisor?
• To whom does your supervisor report to?
• What is his/her growth potential?
• What is their management style?
• What type of regular interaction can you expect
  from your boss?

10
Your Potential Co-workers

• What is the satisfaction level of your
  co-workers?
• Movement within organization
• Age range
• Are they similar to you?
• Are the personalities of and overall chemistry of
  your potential co-workers in your immediate work
  environment appealing to you?
• Do the people in your work group display work
  ethics and habits that align with yours?

11
Negotiations

• Employers expect you to negotiate, so dont feel
  youre out of line
• They rarely negotiate beyond 10 of the original
  offer for entry-level candidates
• Do your research!
• Consider the offer!
• Be aware that some opportunities are
  non-negotiable (ex., Government)

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Do Your Research!

• What are you worth? (RANGE)
• Research salary
• Salary web sites
• Jobweb.org (NACE)
• Salary.com
• Salary surveys (SCC library)
• National (NACE) (updated quarterly)
• Midwest (MwACE) (updated yearly)
• Want ads (some list ranges, etc.)
• Other employers

13
Consider the Offer!

• Get the offer in writing
• Does the job fit into your career plan?
• Will you need a new wardrobe?
• Will you have to relocate?
• When are you eligible for a raise?
• Is tuition reimbursement offered?
• Benefits...

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Look at Benefits...

• Adds about 30 to compensation!
• Health insurance
• 401(k) or 403(b) plan
• Cafeteria plan
• Child care
• EAP (employee assistance program)
• Flextime
• PTO (Paid Time Off) bank
• Retirement
• Stock ownership plan
• Telecommuting
• Tuition assistance
• How much will the employer contribute? When?

15
Two Entry-level Job Offers

• COMPANY B
• Base Salary 35,000
• Medical (840)
• Parking (912)
• 401(k) Match 0
• (10 contribution, no match)
• Perks 0
• Taxes (8,505)
• (27 of taxable income)
• Actual Compensation 24,743

• COMPANY A
• Base Salary 30,000
• Medical 0
• Parking 0
• 401(k) Match 1,500
• (10 contribution, match first 5)
• Perks 2,000
• Taxes (7,290)
• (27 of taxable income)
• Actual Compensation
• 26,210

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Reasons to Negotiate

• Prior career-related work experience
• Demand for academic major
• Strong grades and academic honors
• Other competitive job offers
• Extra-curricular activities, leadership

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Negotiate!

• Have a minimum salary figure in mind
• Your first response should be
• Open or negotiable
• NEVER give a figure
• Company should name a figure first
• You are in a better position to know how much
  Im worth in this position.
• Through my research (state a range)
• Ask to have a 6 month review
• Always take time to evaluate offer

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Keys to Good Negotiations

• Try to get an offer
• Relax do not get excited
• Rememberthey know market worth too
• Search for a common solution
• Use accomplishments to up value
• Be flexible
• Acknowledge acceptance with a letter

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Mistakes to Avoid

• Dont bring up salary first
• Failure to do research
• Not having a reasonable range in mind
• Under or over value your worth
• Negotiate with need/greed in mind rather than
  value of your qualifications
• Fail to support negotiations
• Forget to calculate benefits
• Stating salary expectations on resume/cover
  letters