You’ve submitted resume after resume and finally get a phone call offering you the chance to interview for that golden career opportunity. Being a savvy job seeker, you strategically put off the topic of compensation until you’re offered the position. Then, the day comes that you’ve been waiting on. You’re offered the job! But, the salary isn’t quite what you were expecting, based on your research of comparable salaries in the market. So, now what do you do? It’s been such a grueling process, that all you want to do is accept the offer and move forward.
My advice – Thank them for the opportunity, express your interest in the position, ask for details regarding benefits (the other piece of your compensation package), and let them know that you’ll have an answer for them after reviewing the materials. If you don’t at least consider the terms of your offer, you may regret it later.
Compensation 101. Here’s a very simplified view of compensation within a typical company. For every job, there is a minimum and maximum salary that an employee can make. This is referred to as a salary grade. For example, an Assistants’ salary grade may be $25,000 to $45,000. That means that all salaries for Assistant’s will be within that range. Highly experienced and senior level Assistants will be at the top of the range, while less experienced Assistants will be closer to the mid-point or bottom of the range. Employers use factors such as experience, education, and the salaries of current employees to determine what salary they will offer to a new hire. Most employers will shy away from offering a salary to a new hire that is higher than the most senior employees in that particular job category.
Offer Assessment. Benefits can add up to 30 percent of your total compensation, so it’s important that you closely evaluate the entire compensation package once the offer is extended. In some cases, you may find that the benefits can offset a lower salary. Your offer may be better than you think! For example, medical insurance rates vary across companies, which can mean more or less take home pay for employees. You could essentially be offered the same salary at two different companies, but have significantly lower or higher take home pay depending on the cost of health insurance. Other benefits can include vacation and sick leave, 401(k) plans, tuition reimbursement, paid holidays, stock options, pensions, parking reimbursement, and dependent care subsidies. And don’t forget about bonuses which can be in the form of a sign-on bonus, performance based bonus, or profit sharing. Even in today’s tough economy, companies are forking over significant sign-on bonuses to entice candidates to accept their offers.
Closing the Deal. Once you’ve evaluated the entire compensation package, it’s time to start the negotiation process. In your discussion, you should reiterate your interest in the position and reaffirm the value that you can add to the organization. You’re asking them to make an investment in you, so be prepared to provide examples of how your knowledge and skills will immediately make a solid impact from day one. Depending on the company’s salary structure and where your salary offer fits within the salary grade, the salary may not be extremely flexible. If that’s the case, negotiate other benefits such as vacation, flexible work hours, and working from home to get a sweeter deal. You can also ask for a six month review to revisit the option of a salary increase. Once you and the employer have agreed on the terms of your offer, get it in writing to avoid any future misunderstandings.
The idea of negotiating salary can seem scary and somewhat risky, especially in this market. But, you should be ready and willing to successfully negotiate a great deal that will compensate you for the value that you bring to the organization.
I like the first point you made there, but I am not sure I could pratcially apply that in a contructive way.
I need to say that in general I’m pretty taken with this internet site. It’s very clear that you are aware of the subject matter and you’re enthusiastic about it. I wish I had your expertise to blog. I’ve added your webpage and also look forward to far more updates.
I just added this web page to my bookmarks. I really enjoy reading your posts. Ty!
Just thought I would comment and say cool theme, did you make it for yourself? It looks superb!
You made certain good points there. I did a search on the topic and found nearly all people will go along with with your blog.
Great article! Thank you for publishing. I will be coming back not long from now.
it is a truely smart point of view. I usually meet people who rather say what they suppose others want to hear. Good and well written! I will come back to your site for sure!
I ought to admit that your post is very interesting. I have spent a lot of my spare time reading your content. Thank you a lot!
Howdy! Do you use Twitter? I’d like to follow you if that would be okay. I’m undoubtedly enjoying your blog and look forward to new posts.
Thank for it! I like your posting 🙂
Woah! I’m really loving the template/theme of this website. It’s simple, yet effective. A lot of times it’s difficult to get that “perfect balance” between user friendliness and appearance. I must say you’ve done a very good job with this. Additionally, the blog loads super fast for me on Opera. Excellent Blog!
I thought it was going to be some dull old publish, however it really compensated for my time. I will publish a hyperlink to this page on my weblog. I am sure my visitors will find that incredibly helpful.
I have to admit that your site is truly interesting. I have spent a lot of my spare time reading your content. Thank you a lot!
Resources such as the 1 you mentioned here will be incredibly useful to myself! I will publish a hyperlink to this web page on my personal blog. I am sure my site site visitors will discover that very beneficial.
Resources this kind of as the 1 you mentioned here will be extremely helpful to myself! I’ll publish a hyperlink to this page on my personalized blog. I’m positive my site guests will find that very valuable.
Took me time to read all the comments, but I genuinely enjoyed the post. It proved to become Pretty helpful to me and I am certain to all the commenters here It is always great when you can not only be informed, but also entertained I’m sure you had fun writing this post.
I believed it was heading to become some dull aged submit, but it truly compensated for my time. I will publish a website link to this web page on my blog. I am positive my visitors will discover that really helpful.
very nice post, i certainly love this website, keep on it
Hmm it looks like your blog ate my first comment (it was super long) so I guess I’ll just sum it up what I wrote and say, I’m thoroughly enjoying your blog. I as well am an aspiring blog blogger but I’m still new to the whole thing. Do you have any suggestions for novice blog writers? I’d genuinely appreciate it.
Thanks a lot for that extremely cool post.
Super-Duper site! I am loving it!! Will come back again – taking you feeds also, Thanks.
I must admit that your blog is truly interesting. I have spent a lot of my spare time reading your content. Thank you a lot!
Hiya! awesome blog! I happen to be a daily visitor to your site (somewhat more like addict 😛 ) of this website. Just wanted to say I appreciate your blogs and am looking forward for more!
Hey! Fantastic blog! I happen to be a daily visitor to your site (somewhat more like addict 😛 ) of this website. Just wanted to say I appreciate your blogs and am looking forward for more!
I just added this feed to my bookmarks. I have to say, I really enjoy reading your blogs. Thanks!
I was wondering if you ever thought of changing the structure of your blog? Its very well written; I love what youve got to say. But maybe you could a little more in the way of content so people could connect with it better. Youve got an awful lot of text for only having one or two images. Maybe you could space it out better?
This is just what I was looking for. I did not expect that I’d get so much out of reading your write up! You’ve just got yourself a returning visitor 🙂
Thanks for this post. I definitely agree with what you are saying. I have been talking about this subject a lot lately with my father so hopefully this will get him to see my point of view. Fingers crossed!
I just added this feed to my bookmarks. I have to say, I very much enjoy reading your blogs. Keep it up!
It had been some time since I visited web site with such high quality information. Thansk rather a lot for the useful info
That is a very nice entry. I really believe it will turn out to be a valuable piece of information in the future for me.
Loving the information on this web site , you have done great job on the articles .
Thanks for the write up! Also, just a heads up, your RSS feeds aren’t working. Could you take a look at that?
Thanks for the post. Can you please send me few more websites about this, I am definitely a fan of your blog. Thanks, Roy Clarke
I’m a blog crazed person and i love to read cool blog like yours.`”‘*,
Blog looks great and reads even better! You share some great opinions and insight here. Always looking for motivating blogs to keep mine going!
Can I quote you on this? Greetings from Maryland!
Yes, you may quote and repost giving full credit please!
you’re really a good webmaster. The website loading speed is incredible. It seems that you are doing any unique trick. Furthermore, The contents are masterwork. you’ve done a excellent job on this topic!
It’s hard to find knowledgeable people on this topic, but you sound like you know what you’re talking about! Thanks
[…] previous successes, competing job offers, etc.). Also, keep in mind that some companies will pay lower salaries but offer greater benefits. You’ll need to determine what’s more important – salary or benefits. And, which benefits are […]
[…] Evaluating and Negotiating Your Offer […]