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Welcome!
Overview
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Employers concerns Negotiations timing and strategies Scenario Negotiation Tips 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 same objective - 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) what you need to survive c) finding a good match regarding your value and the position at a fair salary d) whether you fit into their budget c) finding a good match at a fair salary
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Employers Concern
How can you be valuable to me?
Ways to demonstrate value and worth Strengths, accomplishments and results in ... academic coursework and projects, jobs, internships, student organization experience, volunteer experience, activities
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Related experience
internships, co-ops, jobs
Hot Jobs
high demand in labor market
University Reputation
increase for better programs
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 is offered
Researching Salaries
NACE Salary Survey
Web Resources
www.jobstar.org/tools/salary/index.htm www.quintcareers.com/salary_negotiation.html www.payscale.com www.salary.com
UW Libraries
http://www.lib.washington.edu/
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When to Accept?
The best time to accept a job offer is
a) b) c) d) e) as soon as you get one during the second interview after you get all your offers after you have had time to think about it within one week of receiving it
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Scenario
Tom has been interviewing with several companies and has received a job offer from a smaller local firm that would allow him to work on a variety of projects, develop new skills and continue taking courses at the UW. The company has given him one week to review their offer. During that week Tom interviewed with another large well-known out of state firm that would look good on his resume. At the end of the week he had not heard from the large company, so he accepted the job offer from the small local firm. A half hour later he received a call from the large company offering him a job at $10,000 more annually plus 2 months signing bonus.
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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 may remember you and think less of your integrity d) you may likely never be able to work for that company e) your reputation in the industry will be diminished c, d, and e) your integrity and reputation will be impacted and the company wont likely hire you in future
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c) $6,000 though could be more than $30,000 depending on the level of the position
Source: National Association of Colleges & Employers, and Electronic Recruiting Exchange
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Salary Negotiations
Emphasize fairness and trust
Both parties are working towards the same goal fair compensation
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After the final interview employers may extend an offer in person, or by mail, email or phone The actual negotiations may take only a few minutes Be prepared research salaries
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Employer: If you are too rich for our blood, theres no point in taking more time. How much money do you want? Applicant: What is the salary range for this position?
I think you will find Im worth more than that, but Im willing to go on talking if you are. Perhaps the job description could be modified to make higher pay reasonable; or I might have to lower my sights at this time because of benefits I dont know about in the future. This does seem to be the kind of organization in which I would like to contribute. How can we make this work?
I think you know you can depend on me and that my skills are valuable. On that basis, I believe I am worth close to the top of the range. What do you think?
Use silence at this point. The employer needs to respond.
Employer: We always start newcomers at the bottom of the range. Applicant: I can understand that. But I think I bring more experience and skills than the typical newcomer. Im sure you will find Im worth placing in the top half of the range. How could we make that happen?
If you cannot get an employer to offer a salary increase, remember that there are other things for which you can negotiate: conference money, professional development, more vacation time, bonuses, etc. You can also negotiate for a review and possible raise sooner than is normal for that position.
Employer: We like what you have to offer. When can you start? Applicant: I feel I would like to work with you. I could start next week. What is the salary range for this position? (Employer gives range.) I think you know that you can depend on me to hit the ground running, and on that basis Im worth close to the top of the range. What do you think?
What to Negotiate
Most negotiable
Paid time off Relocation Flex time Additional training/schooling
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Avoid
Why cant you pay me more? I need more to live on
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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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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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best decision at the time based on information you have consider your own integrity and ethics
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Further Information
Web Resources via Career Center website UW Odegaard Library Career Section CollegeGrad.com
Under Offer Click on Salary and Negotiation
Questions??
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