congratulations you've gotten a job offer. Now is the time to talk about salary and
benefits. Some companies will negotiate your salary and benefits. In this
presentation will give you tips on how to effectively negotiate and navigate
the negotiation process. So why negotiate? Salaries are based upon the other subsequent
Raises and negotiations. For example, if you start off at thirty thousand dollars, over 10
years if you get an annual increase rate of 2% of your salary
You will be making $36,570 at the
end of those ten years. If you negotiated 2 percent higher you'll be making over
seven thousand dollars more over 10 years and even just 5% higher, which is $1,500,
you'll be making over $18,000 more over those years. So you can really see how just
the little increase and base salary negotiation a little bit more on your
base salary will mean a lot in the long run. When to bring it up. You should not bring up
salary negotiation; you should wait for the employer to bring it up. Sometimes it's
inappropriate for very structured jobs. In the government, military,
Management, and consulting and sometimes in education, they have very strict salary
levels and salary ranges so a lot of times you cannot negotiate. But if an employer does
bring it up and goes into a salary negotiation process with you, definitely negotiate
With them. Also know how to respond to the salary requirement question. This
is the biggest question that that students have about this whole process.
When a company asks you your salary requirements, know what you're
worth. Do your research and don't put a
dollar number too high or too low. Later in this presentation we will go over the best ways to
research salaries and different careers in
different geographic areas.
Non-verbal communication is very important. We all know that our body language affects how
people see us, but does it also shape how we see ourselves? In her TED talk, “Your Body Language
Shapes Who You Are” social psychologist Amy Cuddy discusses our posture and
testosterone and cortisol levels in the brain can change your feelings about yourself.
So this means that standing tall and proud even when we don't feel confident
can have a positive impact in how we are perceived. For example, if you're a very protective or
and hand hiding posture that's going to show that you have very little confidence and
it may not get you a higher salary for negotiating face-to-face. If you shift
your pose and make yourself look bigger or really have a very good self
confidence in your posture like standing tall, that shows more self-confidence and
you're more likely to have better negotiations in an interview or during that salary negotiation
Process. If you have that presence and that self confidence that being passionate,
Enthusiastic, comfortable, confident, captivating, and authentic…that will all
come out to the process. What to negotiate? You can definitely negotiate
Salary. Obviously, you can also negotiate benefits. So things like flexible hours,
resources for the job, relocation expenses if you're going to move for
this job is going to cost at least $1,000 or $2,000 to do that. Hopefully the company will be able
to help you out with that or pay for the entire move in process. Vacation time? Do you get two weeks’ vacation?
Would you want more than that? Is that something that you can possibly
negotiate? Sick leave or insurance? What kind of
dental insurance? Do you get vision insurance anything like that? Retirement….
Does that company offer matching funds if you put a certain percentage of your
paycheck each month or each week into that retirement account? Definitely
things to look into and definitely other things besides salary to negotiate. Planning is key.
Assess your bargaining power, know what your standard of living might be and know
what skills you have. Also, know the cost of living in that specific geographic area.
Research your market and that's always very important. Know your
deal breakers what must you have and what things you won’t accept. Play out
potential results. It is always good to have three four different scenarios of what
might happen. So for example if they accept your first offer or if they counter offer,
how are you going to respond to those situations? Use
decision-making and problem-solving skills and definitely practice. You can
make an appointment at University Career Services to get feedback about the
negotiation process. Always present yourself in terms of value to the
personal value. For example, how those things and how those skills that you
have are going to value the company now how much they are worth to you.
Know Your Worth. Research your salaries. Research the high salaries in your career for that
geographic area. Know where the median is and know what the low is. That
should give you a certain salary range that you are looking to make. Figure out how much money you
need to live as well. Where do you want to live? What do you need for transportation? How much do you
Need for entertainment? Figure out how much money you need to live. Also, always know how much
your skills, expertise, and education are worth. Obviously coming straight out of college
you not going to be making as much as somebody five or ten years out of
college that has been in that company or in that that career. So don't request a salary that that person might be making
Know how much your skills, expertise, and education are worth. Some resources
to use. Careers.unc.edu…that is University Career Services main
Webpage. On there is the NACE salary calculator and also a living comparison calculator.
Those are very important tools very helpful tools in figuring out what
salaries go with certain careers in different geographic locations. Keenan
Flagler has an intranet and has some very helpful information on there about
hours and salary negotiation and salary calculators. Outside the UNC system,
salary.com and payscale.com are also very good websites to understand and get
get information about salary ranges. Negotiation strategy. Show your
enthusiasm for the job. You already did this as you were interviewing for the
Job, so just keep the enthusiasm up. Articulate what you bring to the organization. You already sold
yourself as a fit in the interview, so you can now look to sell your skills and experiences and how
much they are worth to the company. Don't bring personal needs and to the discussion
Either. Don't say I need this much to buy a big house or a sports car or retire at 40
Always put it in context of what expertise and what skills that will
benefit the company.
Negotiation style. Level 1, Bronze level is just bluffing through the
negotiation. So that is really just giving a number without any research and having no
idea maybe you may be worth. Level 2 is presenting a counter offer based on research. Level 3 goes
beyond basic research and connects your skills to the certain position that you
are in. A level 4 four is having 1 or more legitimate offers that you're willing to take. Some Final Tips
Avoid absolutes. Avoid I need I must or I have to have this salary or I won’t take the
More likely than not, they will say okay well we're not going to offer you a position then. Don’t commit
until you're absolutely certain and don't lose credibility as well. That's
why it's important to know how much you are worth. So if you come in with a number that's
twenty to thirty thousand dollars higher than you should be making at that specific
Job, you may lose credibility with that company. Also know your bottom line. Don't start off at
the bottom line but know what you are willing to take and know the bottom line of what you're
willing to take. As we said before, consider alternatives to a higher salary. Negotiate
benefits, negotiate more vacation time or whatever that may be. Stay positive and use
your manners. Always stay professional never take negotiations
negative or insult anybody. That will always end badly. Know when to fold them…this is the Kenny Rogers rule.
Know when your negotiations are not going anywhere and
when to focus on different or other opportunities. Get it in writing. Get your salary in writing. Your
Read it and read it again and only sign the agreement when you are 100% confident that you
understand the offer and the offer is good for you.
So if you use these negotiation tips, when the time comes you'll be well on your way to
negotiating higher salary and benefits.