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Market

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Stock options. Signing bonus. Relocation. Identify what's most important to you. Tip # 3 ... Stock options. Benefits. Severance. Relocation. Any elements that ... – PowerPoint PPT presentation

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Title: Market


1
  • Market
  • Yourself as a Brand to
  • Presented by Kim Richmond
  • Get the Job You Want
  • Sponsored by Upper Merion Township Library
  • These materials cannot be reproduced without the
    permission of Richmond Marketing Communications

2
  • Be patient, be personal, be informed and you
    can bargain successfully for anything.
  • You Can Negotiate Anything by Herb Cohen

3
  • 10
  • Tips
  • for
  • Negotiating
  • and
  • Accepting
  • the Right
  • Job Offer
  • 10 Tips
  • Sample offer letters
  • Wrap up
  • Next Steps

4
  • Tip 1
  • Know
  • Your
  • Value
  • Know your value before you start the interviewing
    process
  • Use the Salary Wizard on Salary.com
  • Understand the market price for your position
  • Understand what you are looking for and what you
    are worth

5
  • Tip 2
  • Compensation
  • is
  • More Than
  • Salary
  • There are many more elements to compensation than
    just salary
  • Salary
  • Bonus/commission
  • Performance incentive
  • Car allowance
  • Time off (vacation, personal holidays, sick days)
  • Benefits (medical, dental, optical, child care,
    tuition reimbursement, etc.)
  • 401K
  • Stock options
  • Signing bonus
  • Relocation
  • Identify whats most important to you

6
  • Tip 3
  • Satisfaction
  • Comes from
  • More than
  • Compensation
  • There are considerations beyond compensation
  • Opportunity for growth
  • Company culture
  • Environment
  • Flexibility
  • Ability to work remotely
  • Commuting time
  • Dress code
  • Social responsibility of the company
  • Financial stability of the company
  • Reputation of the company
  • Identify what is important to you
  • Remember whats important to them

7
  • Tip 4
  • Answering the
  • Salary
  • Question
  • In an
  • Interview
  • Put off the salary discussion as long as possible
  • Answering the question of How much you are
    looking for
  • Im sure your compensation for the position is
    competitive
  • If you are pressed to give a number
  • You can give a range. Be sure you can live with
    the lowest number its too difficult to raise
    your value during the negotiation
  • You can give your current or most recent salary,
    When I was at XYZ, my base pay was 67,000 plus
    bonus
  • Dont start negotiating until you have an offer.

8
  • Tip 5
  • Getting
  • the
  • Offer
  • Many positions require more than one interview
  • During or after the second or third interview,
    you may be asked
  • What will it take?
  • What barrier would there be to you accepting an
    offer
  • If you were to get an offer, would you accept
    it?
  • Offers are rarely delivered during interviews
  • If you are working with a recruiter or agency,
    the offer will come from him/her
  • If you are working directly with the company, the
    offer will come from the HR person or could come
    directly from the hiring manager

9
  • Tip 5
  • Getting
  • the
  • Offer
  • Questions you might get before the offer is made
  • What will it take?
  • Lets go through the process and see where we
    end up
  • What barrier would there be to you accepting an
    offer
  • It would depend on the offer. I cant really say
    without an offer.
  • If you were to get an offer, would you accept
    it?
  • It depends on the offer.

10
  • Tip 5
  • Getting
  • the
  • Offer
  • The offer is usually extended first by phone
  • Write down and confirm all elements of the offer
  • Ask any questions you may have to get clarity,
    but do not start the negotiation
  • Title
  • Salary
  • Bonus
  • Commission
  • Benefits
  • Relocation

11
  • Tip 5
  • Getting
  • the
  • Offer
  • Thank the person who extended the offer and tell
    them how excited you are
  • Tell them that you need some time to make the
    decision
  • Agree on a date on which you will provide your
    response
  • Tell him/her you would like to touch base if you
    have any questions
  • At this point, the power has shifted to youuse
    it wisely.

12
  • Tip 6
  • Evaluating
  • the
  • Job
  • Offer
  • Determine if the job is what you want
  • Evaluate every compensation element
  • Evaluate the other considerations (commute, dress
    code, culture, etc.)
  • Write down the pros and cons of each element
  • Determine which parts of the offer might be below
    your established value
  • Be sure you understand all aspects of the offer
  • When will you be eligible for medical benefits,
    vacation, etc.
  • When will you get your first performance review
  • Now is the time to call to clarify, ask questions

13
  • Tip 7
  • Getting
  • a Second Offer
  • at the Same Time
  • If interviewing with multiple companies
  • Call the second company
  • Ask where they are in the hiring process
  • Ask if you are being considered for the next
    round of interviews
  • If so, say that you are considering an offer, but
    you would very much like to work at this company
  • Do not disclose the company or the offer
  • You may be able to move the second company to
    action, but they may not be ready to make a move

14
  • Tip 8
  • Negotiating
  • the
  • Offer
  • Always remember that you are negotiating with
    your future employer, not buying a car
  • Keep it professional
  • Dont drive a hard bargain
  • Not all employers will negotiate, but if done
    professionally, its always good to try

15
  • Tip 8
  • Negotiating
  • the
  • Offer
  • The best way to negotiate is to make them fall in
    love with you during the interview
  • The more they like you, the better your chances
    of a good offer
  • Dont start negotiating until you have an offer

16
  • Tip 8
  • Negotiating
  • the
  • Offer
  • Negotiating includes 3 elements
  • Information
  • Time
  • Power
  • If you did your homework, you have information
  • Market salary and benefits
  • Whats important to the company
  • Dont get too anxioustake your time
  • You have the poweryou have the offer

17
  • Tip 8
  • Negotiating
  • the
  • Offer
  • Identify one or two items that you wish to
    negotiate
  • Its easier to negotiate an extra week of
    vacation than base salary
  • Its better to negotiate for a long-term item
    such as base salary, vacation, etc.
  • Short-term items can be signing bonus, waiving
    medical co-pay for two months, etc.

18
  • Tip 8
  • Negotiating
  • the
  • Offer
  • Set a pre-negotiation goal
  • What do you want to end up with?
  • What is a deal-breaker?
  • Be ready to walk away
  • After you determine your goal, then determine
    your start date
  • Start date is not a negotiation point dont
    discuss it until after the negotiation is
    complete
  • Write down exactly what you want to cover and in
    what order (biggest issue first), but approach
    with the smaller issues first
  • Have the offer and company information in front
    of you
  • Dry run the conversation in your mind

19
  • Tip 8
  • Negotiating
  • the
  • Offer
  • Set up a time to talk to your contact
  • Be prepared with your information
  • Tell the person again how excited you are about
    the offer
  • Tell him/her that there are a couple of items you
    would like to discuss
  • Mention the first item
  • Let the person respond
  • Explore options (those that you have already
    identified in your pre-negotiation goals, but use
    higher numbers to allow space for negotiating)
  • Only after the first item has been resolved or
    has an action, then bring up the second item (if
    there is one)

20
  • Tip 8
  • Negotiating
  • the
  • Offer
  • Reinforce how excited you are about the offer
  • Say you would like to discuss a few things
  • You can take one of three approaches
  • Is there anything you can do on the salary?
  • We talked about a salary range of 65,000
    75,000. Id like to see if we can get closer to
    75,000.
  • I really cant live with 65,000 as the base
    salary. I need to have at least 73,000 to accept
    this position.
  • Using another offer to negotiate falls into the
    third category
  • Then let the other person speak.

21
  • Tip 8
  • Negotiating
  • the
  • Offer
  • Most negotiations require the company to get back
    to you
  • They usually respond within a day or so (many
    times the same day)
  • The higher the level of the job, the more room
    for negotiation

22
  • Tip 9
  • Accepting
  • the
  • Offer
  • When the person calls you back, you should decide
    if the response is acceptable
  • You can accept
  • You can reject
  • You can ask for some time to consider (another
    day or two is reasonable)
  • Once you accept the offer, you no longer have
    negotiating power

23
  • Tip 9
  • Accepting
  • the
  • Offer
  • After you accept the offer, finalize your start
    date
  • You may have a short negotiation on this, but it
    should not be discussed with your compensation
    negotiation
  • Its good to allow a week off since you wont get
    vacation time for awhile

24
  • Tip 9
  • Accepting
  • the
  • Offer
  • After you agree upon your start date, ask for an
    offer letter
  • An offer letter outlines the elements of your
    offer
  • Title
  • Start date
  • Salary
  • Commission
  • Bonus
  • Stock options
  • Benefits
  • Severance
  • Relocation
  • Any elements that you negotiated
  • See sample offer letters on pages 9 and 10

25
  • Tip 9
  • Accepting
  • the
  • Offer
  • You should receive the offer letter within days
    of accepting the offer
  • Email or regular mail
  • On company letterhead
  • If you currently have a job, dont give your
    notice until you receive your offer letter
  • Review the offer letter for accuracy
  • Some companies require that you sign and return
    the offer letter to signal acceptance
  • Keep a copy for your files

26
  • Tip 10
  • Make
  • a
  • Great
  • First
  • Impression
  • After you accept the offer, send a thank you
    email to everyone with whom you interviewed
  • If you worked with a recruiter, send a thank you
    note to the recruiter
  • Send thank you email the same day you accept the
    offer
  • Send a handwritten thank you note to everyone
    with whom you interviewed (especially your new
    boss)

27
  • Wrap
  • Up
  • Your negotiation begins during your first contact
    with the company
  • Set yourself apart at every step
  • Make them fall in love with you!
  • Listen and watch for whats important to them
  • Know what you are worth
  • Do your homework
  • Remember you are negotiating with your future
    employer
  • Keep it professional
  • Dont rush the offer process
  • Take it one step at a time
  • Dont start negotiating until you have an offer
  • Be sure to get an offer letter
  • Send a thank you note

28
  • Questions?

29
  • Next
  • Steps
  • Attire for Hire Workshop
  • June 15 at 700

30
  • Parting
  • Thoughts

31
  • Thank
  • You
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