Finding a Job - Negotiating Offers
Printer-friendly versionThe degree to which salary is negotiable typically depends on your perceived value, the job role, the manager, the organization and the industry. In today's uncertain business climate, the likelihood of negotiating offers is not always clear. Considering the following factors, however, will help you approach the negotiation process.
Factors to Consider
It is important to consider all facets of a job offer to decide if it is right for you. Be cautious about evaluating an offer solely on its salary or the prestige of the organization. Ask yourself how this position fits into your long-term goals.
The Organization
- Type and size of business
- Financial condition, stability, and future
- Location(s)
- Philosophy, value system, and mission
- Company or organization reputation
Your Job
- Typical daily routine
- Typical work hours; anticipated overtime
- Room for advancement and professional development opportunities
- Supervisor, co-workers and colleagues
- Required and desired skills
- Size of department
- Travel
Benefits
- Salary, signing bonus or other perks
- Relocation budget
- Vacation time (i.e., paid time off)
- Savings plan (e.g., 401K or 403B)
- Health benefits (e.g., medical, dental, and vision)
- Tuition reimbursement (for self and family)
- Pension or retirement plan
- Vesting time (i.e., when a company’s contributions fully belong to you)
- Commuting expenses
- Pre-tax options (e.g., commuting, childcare, etc.)
The Art of Negotiating
When an offer is made, do not feel that you must give the employer a final answer immediately, but do acknowledge the offer. Let the employer know you are very interested, and ask when a decision is needed. Be sure that you have all the details: job description, salary, benefits, start date, etc. There is no standard amount of time that an organization is required to give you to make a decision. Some will allow a few weeks or more while others will require an answer within a day or two (Note: if you are a student participating in on-campus recruiting, please refer to Policies and Procedures regarding time allowed).
If you are interested in the position but are not satisfied with one or more aspects of it, you may choose to negotiate. Contact the person who hired you, reiterate your interest in the position, and explain your desire to negotiate. Be prepared to discuss your reasoning on the spot, or schedule a time to speak or meet, depending on your contact's schedule.
Before your phone call or scheduled meeting, conduct industry research to gauge what competitive offers are comprised of. Be sure that you have gathered accurate salary information. Know what the range is for the type and level of position, organization, and industry. Be sure your bottom line is in this range. This information is available from a variety of resources including industry books, printed salary surveys, online salary surveys, and informational interviews.
Not all companies will be willing to negotiate, but it is worth discussing options before accepting a position. Be prepared to compromise if necessary or to turn down the offer if the employer cannot meet your expectations. When negotiations are complete, be sure to get the final offer, with all details, in writing.
Make an appointment with a career counselor if you would like assistance with this process.
Ethics of Negotiating
You should only negotiate with an employer whose offer you plan to accept if the negotiation goes well. It is unethical to negotiate with an employer whose offer you have no intent to accept even if your preferred terms are met. If you reach an acceptable compromise, it is assumed that you will accept the position.
Once you have accepted an offer, it is unethical to continue interviewing with other employers. If you are interviewing with other organizations, contact them to let them know that you have accepted an offer and are withdrawing from their process.
Giving Notice
If you are currently employed, you will need to give notice to your current employer when you accept a new offer. Two weeks is standard. Some companies may not want you to stay that long once you have given notice; however, others may allow or prefer a longer transition of three or four weeks. It is in your best interest to follow your employer’s standards, allowing you to leave on a positive note. Spend your remaining time wrapping up projects, transitioning your work, and generally making your exit as smooth as possible.