Evaluating Job Opportunities and Negotiating Job Offers The Big Switch: Seller to Buyer

Evaluating Opportunities: The Position The Company Potential for Career Advancement Compensation and Benefits Lifestyle Issues External Process: Gather Information – do the research and ask questions about what you need to know Internal Process: Create a System – get criteria out of your head and write it down. Prioritize and rank order what’s important to you Position: Day to day tasks; skills needed/ your current skill base; resources; work groups, supervision Company: Reputation; Industry fit right for you; corporate values/culture; quality of management; Career Advancement: your goals; promotions; lateral movement; examples of progression; mentorship Compensation: salary; bonuses; compensation potential; intl assignments Lifestyle: location, proximity to friends/family; cost of housing; climate; work/life balance

Managing Timing of Offers How would you rank and proceed with these scenarios? Company A…you are somewhat interested. Second Interviews in a week. Offer by Dec. Company B…you TOP CHOICE company. Second Interviews in Jan. Offer by March. Company C…your LAST choice. You have an offer. The offer is only ok but negotiable. Company D…a SMALL entrepreneurial company. Nothing in progress. How would you play this? Company B – Move process forward Company A – Follow timeline Company D – Get wheels in motion Company C – Keep offer open, negotiate for time

Remember Your Purpose Why did you come to business school What have you learned since? Has it changed your original plans? Six months into the job, imagine your attitude getting up and going to work.

National / Regional / Hirer Recruit Fall – Offer by Dec – Decision by Jan/Feb Recruit Fall/Win Offers/Decision- shorter timeframe Recruit as needed. Driven by company Salary – generally higher. Follows regional salaries Dependent on company. Benchmark w/ local industry More room to negotiate: bonus, relocation… May negotiate, less than natl, more than hirer Less room – intv local people

Negotiating Job Offers Be informed… research the market rate, your market worth, and standards in the company Be Savvy…don’t discuss compensation until you get offer / negotiate your contribution not personality Be selective… focus on 1 or 2 critical issues to negotiate Be professional…never sacrifice good relations / listen to cues Be ready…don’t negotiate until you know you want the position

Reasons for Requesting Higher Salary The current market rate for this particular position is higher than your offer Your unique skills and experience and the ways in which they will enhance your contribution to the organization warrants higher compensation How to play this - Proposal for Service NOTE: YOUR PERCEPTION OF YORU WORTH MAY BE DIFFERENT FROM THE EMPLOYER – ITS YOUR JOB TO DEMONSTRATE YOUR VALUE THROUGHOUT THE INTERVIEW PROCESS UNDERSTAND YOUR MARKET VALUE: THIS DEPENDS ON YOUR EXISTING SKILLS AND EXPERIENCE, THE INDUSTRY AND FUNCTION YOU CHOOSE, RELEVANCE OF PRE MBA AND INTERNSHIP EXPERIENCES, SKILLS YOU DEMONSTRATE IN THE INTERVIEW PROCESS, AND SCARITY OF YOUR PARTICULAR ATTRIBUTES IN THE MARKETPLACE

Making Your Final Decision Ask for more time only if the employer cannot offer you what you need Never expect more than a couple of days Accept offers both verbally and in writing Let other relevant parties know of your decision AFTER you have accepted