1. Money Talk & Salary Negotiations:
From First Hurdle to the Finish Line
Courtney Warnsman, Ph.D.

2. Salary Negotiation: What have you heard?

3. Why do companies hire?

4. What would you pay?

5. 3 Phases of Money Talk “Talking” with yourself
Getting through screening process
Negotiating an offer

6. Do you Know what you want? Money Talk With Self & Spouse/Partner
Has-to-be-more-than-this
Dream compensation package
What aspects of a compensation package are important to you?
commission
title
benefits
salary
travel
car
bonus
PTO
parking
severance
401k
education
relo
retirement
remote

7. Do you know the value of your skills in the job market
Do you know the value of your skills in the job market? Do your research!
Salary.com
Glassdoor.com
Informational Interviews
Payscale.com**

8. Compensation Continuum Where do you fall?
$$$
Job Satisfaction

9. Money Talk: The Dreaded Salary Question(s)
What are your salary requirements?
What is your current--or was your last--salary?
Application/Online responses

10. Never give the first number!!
Unless…

11. Tough Choice:
Answer salary question early and risk pricing yourself out of the role or leaving something on the table or…
Be eliminated from consideration for refusing to answer the question.

13. It’s all about…

14. Early Money Talk: What are your salary requirements? 3-Step Response
We’re very early in the process. I don’t know enough about the role at this time to put a price tag on it.
What is budgeted for the role?
Based on research I’ve done on similar positions, I would expect the job to pay in excess of ___________________. (Instead of range)
If salary includes commission or other variable comp: When I meet all outlined goals/benchmarks/sales, what can I expect to make?

15. Index cards Hmmm…

16. What is your current (or was your last) salary?
Possible responses if you must answer:
Research that I’ve done regarding market value and the company suggest that we’re on the right track, so I assume that won’t be the issue. Plus, I need to understand the full opportunity before being able to give a salary response.
I’ll be happy to share that information if you will tell me the range for the position.
Note: If the question is coming from an external recruiter/headhunter, it is usually okay to answer the question.

17. Online responses Leave blank if possible
If fill-in-the blank, “Negotiable,” “Market Value,” “Will discuss upon expression of mutual interest”
If drop-down menu, something around 25%ile—DO YOUR RESEARCH

18. Remember…
The goal during the screening phase is to get to the next interview where you can begin to establish your worth and value. At this point, you do not have enough leverage to negotiate anything.

19. Money Talk When You Get an Offer…
Ask for details of entire package
Ask for offer in writing (or send confirmation )
Ask when the company needs a response
Schedule appointment for negotiation
In-person or by phone; no negotiations

20. Offer Evaluation and Negotiation Planning/Preparation
Evaluate the offer against market value for the job as well as your compensation needs / desires.
What would you like to negotiate?
Prioritize
Create 3 workable options/packages
Practice articulating your desires

21. Creative Counter Offers
Negotiate title rather than salary. Different titles/bands may automatically draw higher salary.
Accept lower salary with agreement for 6-month performance review. Meeting all benchmarks/goals results salary increase and retroactive “bonus” for salary missed during first 6 months
Don’t need health insurance? Ask if the company is willing to roll what they would normally pay toward health plan into base salary

22. Negotiate/Counter Negotiate 1st choice PACKAGE
Negotiate higher priority items first
Deliver short summary of experience
Give 2-3 reasons to justify your point
Repeat with 2nd and 3rd choices as warranted.
Avoid talk about your needs, hopes, mortgage, kids in college, x-spouses
Keep in mind…It’s about your value to the organization
**Remember: Your tone can make or break a negotiation!

23. Negotiation Mindset Adapted from William Ury, Co-Author of Getting to Yes, in an interview with Forbes.
Remember—you are negotiating with a person, not a “company.”
Focus on the value you bring rather than dollar amount.
Keep an open mind to the possibility of creating multiple counter offers for discussion
Stick to the facts…market value of the position and what you bring to the table rather than your personal value or needs.
Be prepared to walk away!

24. Do Nothing! Take the Money and Run!

25. Basic Rules of Negotiating You won’t get it if you don’t ask for it !
Be happy, excited, enthusiastic
Ask questions & LISTEN
Negotiate ahead of due date
Negotiate face-to-face whenever possible
Negotiate as equals / colleagues
Negotiate “Win-Win”

26. Today’s Takeaways Pre-Interview Screening Phase
Know your compensation deal breakers & desires
Do your research on market value for the roles you are pursuing
Screening Phase
Prepare and practice responses to questions regarding salary requirements & current/most recent salary
Get further into the interview where you will have leverage
Post-Offer Negotiations
Negotiate entire package
Prioritize items for negotiation
Be flexible and creative in providing options
Be prepared to walk away

27. Resources Dell. Never Make the First Offer (2011)
Grant. Give and Take (2014)
Ury & Fisher. Getting to Yes (2011)
Voss. Never Split the Difference (2016)