JobOffers,DecisionMaking&SalaryNegotiation

WithMariaRichartwww.rit.edu/CareerServices|585.475.2301

Today’s Agenda

• Understanding the components of an offer

• How to respond to a verbal offer

• Evaluating the offer

• Negotiating the offer

• Accepting or rejecting the offer

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Situation:You get a job offer at your top choice company. You love the

environment, the people who work there and the work that you’re going to be doing, BUT the salary you are offered is lower than

what you were expecting.

What should you do? How would you talk with your employer about it?

Situation:It’s Monday and you just interviewed at Company B, and they

offered you the job on the spot! They want to know your decision by Friday. But you have an interview on Friday for Company A,

your #1 company.

What do you do?

Situation:Let’s say you’ve just gotten an offer from your potential employer,

but you don’t get a lot of information from them (i.e. salary, benefits, vacation, paid time off).

How would you bring up these things?

JobSearchinaNutshell• Resume, cover letter and portfolio ready to go• Apply to jobs you know exist, target companies you want to

work for• Send resumes• Follow up• Interview

– Negotiate for salary and or benefits– Evaluate Offer– Decide on Offer

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KeepinMind

Theconversationaboutsalary/benefitsshouldhappenbeforeyouacceptanoffer.

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Research:CollecttheFacts

§ Identifysalaryaveragesandmarketrate- forposition,field,industryandgeographicarea(salarysites)

§ KnowYourself–§ Whatyouhavetoofferandcareergoals§ Financialobligations(whatcanyouaffordtoaccept?)

PreparationisKeytoNegotiation

§ Rehearseinadvance

§ Know(andpractice)howyouwillbegin

§ Bereadytocitereasonsforasking

§ Remembernegotiationisaprocess

JobOfferVariables

• Natureofthework• Skills/education/experiencelevel• Reportingstructure• Salaryandbenefits• Co-workersandcorporateculture• Typicalworkday/week• Industry• Companysize• Location

SalaryConversation

• Employermayaskyouaboutyoursalaryrequirements(nearendofinterviewprocess).

• Typicallywaitforemployertobringupsalary.

• Ifemployerdoesn'tmentionit,youmaybringitupyourself(ifreallyconsideringtheposition).

UnderstandingtheJobOffer

CompensationPackage=basesalary+benefits+tangibleservices

Benefits*• Vacation/sickdays/personaltimeoff/holidays• Lifeandmedicalinsurance(health,dental,vision)• HealthFlexibleSpendingaccount• Tuitionbenefit• Retirementplan• Stock/savingsoptions• Signing/performancebonuses/relocationallowance/companycar

*Benefitscanaddasmuchas30-40%tothebasesalary.

WhatisNegotiable?

§ Jobtitle§ Startdate§ Vacation/PTO§ Reportingrelationships§ Decision-making/Levelofauthority§ Relocationexpenses§ Memberships,associationdues,

subscriptions§ Signingbonus,relo &otherbonuses§ Housingassistance

§ Auto(car,mileage)§ Flex-time/jobshareschedule§ Training/re-certificationcosts§ Remoteorvirtualwork§ Severanceprovisions§ Termsofcontractualrelationship§ Stockoptions§ Laptop,mobilephone,homeoffice

technology§ Mentorship

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Inadditiontothesalary,sometimesyoucannegotiatethefollowing(dependingonthecompany)

JobOffer-- SampleNegotiationScript“Thankyoufortheoffer.Iamveryexcitedaboutworkingwithyou.However,Iwaswonderingifthereisanyflexibilityinthesalary.Basedonmyresearch,Iwashopingfor_______.Isthatsomethingyouwouldconsider?”**Theywilllikelyhavetogobacktoanotherpersontoaskorletthemknowyouarenegotiating.

Timing....

JobOfferOptions

§ Stall- Notreadytomakeadecision.§ Youwouldliketimetocarefullythinkaboutit.Agreeonareasonabletimeframetogetbacktothecompany.

§ Accept- Youreallywantthisjob.§ Asktheemployertoconfirmtheofferinwriting.Rejectallotheroffersimmediately.ReportyourjobtoourOffice.

§ Reject- Thanks,butnothanks.§ Expressappreciationfortheoffer.Saysomethingpositiveabouttheorganization.Bediplomatic.

JobOfferDecision-makingAskyourself:

§ Howcloselydoesitmatchyourcareergoals?§ Howwelldoespositionandorganizationmeetyourneeds?

§ Doyouneedmoreinformationtomakeadecision?

TipsforCo-opStudents

§ Beawarethatco-oppayisoftennotnegotiable

§ Researchco-opsalaryrange§ Foryourmajor§ Geographiclocation

§ Employerscalculatepaybasedonyearlevelinschool,credithourscompleted,returningco-op

TipsforNewCollegeGrads

§ Manyentrylevelpositions§ Havesetsalaries§ Littleroomtonegotiateoutsidetherange§ Stateandgovernmentjobsoftenhavenon-negotiablesalaryclassifications

§ Letemployerbefirsttomentionsalary

§ Neveracceptanofferattimeitisoffered

§ Youmaynegotiatebyphoneoremailifnotcomfortablenegotiatinginperson

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JobOfferGuidelinesandPolicyWeadheretoNationalAssociationofCollegesandEmployers(NACE) JobOfferGuidelines and PrinciplesforEthicalProfessionalPractice

Employersshouldgiveyouareasonableamountoftimetodecide.

EthicsofAccepting/RejectingOffer

§ AcceptingOffer§ Onceyouacceptajoboffer,evenverbally,youmustnotrenegeonthejob,toworkforanotheremployer.

§ Handlingmultipleoffers§ Discussoffersthoroughlywithemployersandreachmutuallyacceptabledatetorespondtotheiroffer.

§ Donotignoredeadlinedatesyouhaveagreedupon.

§ Withdrawyourcandidacy§ Notifyotheremployersthatyouareacceptingorrejectinganofferassoonasyoumakeyourdecision

§ Cancelanyotherscheduledinterviewsoron-sitevisits.

RecommendedResources

§ RITSalaryandCareerInfo– forRITdatahttps://www.rit.edu/emcs/oce/student/salary

§ JobSearchPrep>EvaluatingOffersandSalary

Negotiation

http://www.rit.edu/emcs/oce/student/evaluating-

offers

§ Salary.com

www.salary.com§ Glassdoor

(unlimitedthroughourwebresourcespage,or

directlywww.glassdoor.com)

ScheduleanappointmentwithyourCareerServicesCoordinator– weareavailabletohelpyou!

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