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Career Services : Compensation Package Negotiations
| Understanding Your Expenses |
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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
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| The Compensation Package |
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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
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| Sources for Salary Data |
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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:
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| The Do's and Don'ts of Negotiating a Compensation Package |
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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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