Setting the Stage ___________________________________ - PDF document

Slide 1 ___________________________________ ___________________________________ Negotiating Job Offers: Closing the Deal ___________________________________ ___________________________________ Elizabeth Wallencheck ___________________________________ Director, Alumni Career Management ___________________________________ ___________________________________ Slide 2 ___________________________________ learning agenda ___________________________________  Responding to job offers  Negotiating: who, what, when, why ___________________________________  Overcoming the fear of negotiating  ___________________________________ Strategies to maximize effectiveness  How to know how far to go / when to back off ___________________________________  What’s negotiable and what isn’t ___________________________________ ___________________________________ Slide 3 ___________________________________ ___________________________________ ___________________________________ Setting the Stage ___________________________________ ___________________________________ ___________________________________ ___________________________________

Slide 4 ___________________________________ responding to job offers ___________________________________  Don’t accept right away ___________________________________  Say “thanks” with enthusiasm  Tell them when you’ll get back to them ___________________________________ Insulate yourself from a false ___________________________________ sense of urgency ___________________________________ ___________________________________ Slide 5 ___________________________________ the next step ___________________________________ may not be to negotiate…  Rather to gather additional information ___________________________________  Ideal to separate info gathering from ___________________________________ negotiating Allows you to factor the new info ___________________________________ into your strategy ___________________________________ ___________________________________ Slide 6 ___________________________________ ___________________________________ Negotiating: ___________________________________ Who, What, When, and Why ___________________________________ ___________________________________ ___________________________________ ___________________________________

Slide 7 ___________________________________ with whom should you negotiate? ___________________________________ the hiring manager  They know best how well you fit their needs ___________________________________  They are the most invested in bringing you onboard ___________________________________  They know their budget best Go to them first and let them direct ___________________________________ you elsewhere ___________________________________ ___________________________________ Slide 8 ___________________________________ what is negotiating? ___________________________________ Identifying the gaps between ___________________________________ the offer you got and the offer you want, and ___________________________________ sharing them with the employer ___________________________________ ___________________________________ ___________________________________ Slide 9 ___________________________________ the best way to think about the initial offer… ___________________________________ An effort to get the ___________________________________ conversation started and to understand your needs ___________________________________ ___________________________________ ___________________________________ ___________________________________

Slide 10 ___________________________________ when should you negotiate? ___________________________________ Do not negotiate until ___________________________________ you have an actual offer! ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 11 ___________________________________ why should you negotiate? ___________________________________  Like any other business deal, people do not provide their best offer out of the gate ___________________________________  Therefore, they are expecting you to negotiate  Which means they have more comp they are ___________________________________ able and willing to give you If you don't negotiate, you are leaving ___________________________________ money on the table! ___________________________________ ___________________________________ Slide 12 ___________________________________ what’s the worst that can happen? ___________________________________ It’s highly unlikely that they will rescind the offer… ___________________________________ ___________________________________ They will simply say “no” and the offer is still on the table ___________________________________ for you to accept or reject! ___________________________________ ___________________________________

Slide 13 ___________________________________ ___________________________________ ___________________________________ Strategy & Tactics ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 14 ___________________________________ before you start ___________________________________ do your research!  www.payscale.com  ___________________________________ www.salary.com  www.glassdoor.com  U.S. Bureau of Labor Statistics | ___________________________________ http://www.bls.gov/oes/current/oessrcma.htm  Job boards, e.g., www.indeed.com  Trade / professional associations ___________________________________  www.guidestar.org – for non ‐ profits ___________________________________ ___________________________________ Slide 15 ___________________________________ getting the conversation started ___________________________________  Tell them you’ve carefully considered the offer and would like to discuss it ___________________________________  You don’t need to use the word “negotiate”  Express interest in the job and/or company ___________________________________  Share some positives about the offer  Let them know what falls short ___________________________________ ___________________________________ ___________________________________

Slide 16 ___________________________________ start with salary ___________________________________  It’s the biggest part of the package ___________________________________  Other items, such as bonuses and raises, may be based on it  ___________________________________ If they can’t match you on salary they will feel compelled to be more flexible on other items ___________________________________ ___________________________________ ___________________________________ Slide 17 ___________________________________ opening up the salary discussion ___________________________________  Let them know it was less than expected / desired ___________________________________  Might add why a higher figure is appropriate  Stop talking – they will typically jump in ___________________________________  Or inquire whether they have flexibility with it ___________________________________ ___________________________________ ___________________________________ Slide 18 ___________________________________ maximizing salary ___________________________________ If they ask what you want, ___________________________________ avoid a specific figure… ___________________________________ Once you mention a figure, you capped it! ___________________________________ ___________________________________ ___________________________________

Slide 19 ___________________________________ maximizing salary ___________________________________  Talk in general ranges – “from the mid 120’s to upper 130’s,” or the “in the 70’s or 80’s” – to ___________________________________ provide flexibility  Express appreciation for movement in the right ___________________________________ direction  Politely inquire whether more is possible ___________________________________ ___________________________________ ___________________________________ Slide 20 ___________________________________ how to know when to back off ___________________________________ In most cases, keep it ___________________________________ to 1 ‐ 2 requests on each point... ___________________________________ You needn’t figure it out, they will tell you! ___________________________________ ___________________________________ ___________________________________ Slide 21 ___________________________________ ___________________________________ What’s Negotiable and ___________________________________ What Isn’t ___________________________________ ___________________________________ ___________________________________ ___________________________________