Career Services : Compensation Package Negotiations

Understanding Your Expenses

Before interviewing determine your salary requirements by knowing your fixed expenses:

  • Rent
  • Transportation (gas/repairs/tolls)
  • Food
  • Spending Money
  • Utilities
  • Insurance
  • Student Loans/debts
  • Clothing
The Compensation Package

A. Before Negotiating - Important things to remember before accepting any position:

  • Does it meet your career objectives (short and long term)?
  • Can you utilize and advance your skills set?
  • Is the position challenging and stimulating?
  • Are there growth opportunities?

B. Salary

When a recruiter makes you a job offer and states the salary is fixed, it is usually non-negotiable. However, if you believe that the salary may be negotiable, negotiate based upon the value you can add to the organization. The three most important factors in beginning your negotiations are:

  • Knowing your worth
  • Knowing the competitive salary for the position
  • Being diplomatic and realistic

C. Compensation Package

Your TOTAL compensation package consists of a number of benefits only one of which is your salary. While some may not appear important now, they may become very important in one or two years. These are just a few of the benefits that, if offered, you might be able to negotiate:

  • Job Title
  • Flex Time
  • Parking
  • Car Allowance
  • Insurance
  • 401k
  • Stock Options
  • Insurance
  • Review Schedule
  • Commissions/Bonus
Sources for Salary Data

Resources:

  • American Almanac of Jobs and Salaries
  • State Labor Departments (find this on web)
  • Trade/Professional Association Surveys
  • Professionals in related career fields
  • Public libraries (local information, reference books)

Websites:

The Do's and Don'ts of Negotiating a Compensation Package

Do's

  • Do be yourself
  • Do stand firm for those things that are important to you, your profession, and your family.
  • Do keep faith with your career plans
  • Do be forthright and specific about your ability to carry out expectations.
  • Show enthusiasm for the position.
  • Do negotiate for a total compensation package by getting all conditions on the table initially.
  • Do know what you want and what your general limits are when you begin initial negotiations.
  • Do recognize the employer's ability to pay.
  • Do attempt to get the best compensations at entry.
  • Do exhibit flexibility, reasonableness, and openness to compromise and accommodate.
  • Do request specific information relative to living costs or benefits that may be unique to that area (e.g., high income tax, club and social memberships and activities)
  • Do have a specific salary and benefits in mind; have a written handout listing current and desired employment conditions.
  • Do be prepared to express general employment desires and conditions in the initial interview(s). Leave specifics for a later time.
  • Do "negotiate" throughout the initial interview process and lay the groundwork for subsequent formal negotiations. Do ask to be evaluated regularly and to be compensated on performance.

Don'ts

  • Don't offer any expectations that you can not deliver; don't oversell yourself.
  • Don't "play tough" - remember this is a win-win opportunity.
  • Don't forget that your actions and demeanor reflect on you.
  • Don't assume that the interview committee knows your worth as well as the folks "back home"; convey the unique aspects of your background and your expertise that justify your negotiation position enthusiastically.
  • Don't go overboard with details; not all factors can be reduced to writing.
  • Don't negotiate for the position unless you are really interested.

Source: ICMA Job-Hunting Handbook, "Negotiating Your Total Compensation Package"

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This page last modified Friday, 19-Jan-2007 15:08:40 EST