Rachel Kaschner Assistant Director Engineering Career Services G E T P A I D W H A T YOU RE W O R T H : S A L A R Y N E G O T I A T I N G

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1 Rachel Kaschner Assistant Director Engineering Career Services G E T P A I D W H A T YOU RE W O R T H : S A L A R Y N E G O T I A T I N G

2 Objective To help each of you get paid fairly and what you re worth for your jobs post-graduation!

3 Job Offer Basics Don t say yes right away Do express gratitude Ask for decision timeframe ALWAYS get offers in writing Do your research Salary is not the only aspect of a job offer

4 How Employers Determine Salary Market conditions Supply / demand for your major /skills Value of previous experience Degree level Level of the job within the organization Cost of living in that area Industry standards Company-specific factors

5 Reasons for Negotiating Employers often expect it Negative implications for future earnings Regret/resentment

6 Why People Don t Negotiate Don t know how Dislike confrontation Concerned about relationships Desperation

7 Avoid Pre-Offer Negotiations What should I say when an employer asks me what my salary requirements are? Never be the first to name a salary figure. Do not reveal your bottom line number.

8 Responses to Salary Req. Questions I d like to discuss the job first. I need to know whether I m the right fit and that you re offering me the job. I ll consider any reasonable offer based on my education and experience. Salary is important, of course, but what s most important to me is a job using my skills for an organization that s a good fit for me. So could I ask you [question about the job.]? I have researched the market, but I d be interested in your range. What do you have budgeted for the position?

9 Salary Negotiation Timing Salary negotiation begins only after you have received a job offer Carefully review the entire offer package before negotiating Don t wait until the last minute to negotiate Let them go first

10 Circumstances for Negotiating You are not being offered the current market rate. You have a comparable, yet stronger offer. You have something unique and special to offer. There is a cost of living differential.

11 1 st Circumstance for Negotiating You are not being offered the current market rate. Know your value!!! Resources to assess your value: ECS Salary & Wage data The NACE Salary Calculator Salary.com Glassdoor

12 2 nd Circumstance for Negotiating You have a comparable, yet stronger offer. Probably your strongest circumstance for negotiation. Additional offer(s) create value Disclose offers from other companies

13 3 rd Circumstance for Negotiating You have something unique and special to offer. You are more valuable than others with an equivalent degree. How do you know?? Patents Relevant publications Directly related research experience

14 4 th Circumstance for Negotiating There is a cost-of-living differential. If your offer does not reflect how much it costs to live in a given city, consider using a Cost-of-Living calculator to determine difference. PayScale Bankrate CNNMoney Salary.com

15 Your Negotiation Approach Put yourself in your employer s shoes Be positive and confident Show value without being demanding Remember the value of compromise

16 Be Prepared! Did you carefully evaluate the job? Know the facts about the salary & benefits. Have your facts and your script handy.

17 Have the Conversation Negotiate verbally on the phone is the most likely/highest reward scenario. It s much harder to say no to someone in a personal conversation than in an . Practice what you want to say and be comfortable with it! Call the person who made the offer.

18 Negotiation Script Begin on a positive note Reaffirm your interest and fit for the job/company State your concern & provide evidence! Ask don t demand! Be prepared for yes or no answers

19 Yes or No If they say yes They will expect you to accept. But you can say, That s great! Thank you. Can you confirm this in writing? I d like to sleep on it. Can I get back with you on (give specific date soon)? If they say no Consider negotiating for other items. You should say, Thank you for considering it. Let me think this over carefully and I ll get back to you by (specific date).

20 Job Offer Beyond Salary Medical insurance Life insurance Disability insurance Time off Retirement, pensions, & 401Ks Stock options, profit sharing, employee stock programs Flexible scheduling Tuition reimbursement Dependent care Legal services On-site services

21 Consider Non-Salary Items No movement on the annual salary? How about negotiating other aspects of the job? Signing bonus Relocation expenses Date of first performance (salary) review Continuing ed. benefits/professional development Paid or unpaid leave Flexibility in work schedule Start date

22 Additional Tips Sell yourself. Don t assume the employer remembers all of your résumé. Don t assume the interviewer has translated your experiences into your value to the company. Anticipate objections. Script your responses to anticipated objections. Listen closely, think, and anticipate. Don t get personal. Employers don t care about student loans, your expenses, etc. Be careful of oversharing.

23 Remember Your Ultimate Goal To find a place where you can: Enjoy your work Feel proud to work there Grow and be challenged Contribute to the organization Succeed financially

24 QUESTIONS???? RESOURCES: --THE WAGE PROJECT/START SMART --FIVE MINUTES TO A HIGHER STARTING SALARY --SALARY.COM --SOCIETY FOR HUMAN RESOURCES MANAGEMENT

25 DIVERSITY Diversity Resources International Students LGBTQ Students Minorities in Engineering Students with Disabilities Women in Engineering Veterans Access the diversity resource guides on CareerEngine Document Library.