1. Salary Negotiation Presentation by Career Development Services
KNOW YOUR WORTH
Salary Negotiation Presentation by Career Development Services

2. Two Important Principles
Know what you are worth and be prepared to justify it in the salary discussion.
The Salary Reality Check – changing your mindset
Never start salary negotiation thinking it is all about you.
Salary negotiation is about the job and what the employer is willing to pay.
Salary negotiation begins only after you have received a job offer.
There is nothing to negotiate before the job offer. You don’t have any leverage until the offer is made.
The 2 most important principles of salary negotiation: Do not discuss salary until you have received a job offer, and Know your worth in the marketplace (benchmarking) and be prepared to justify it in the salary discussion. In salary negotiation, remember you have an advantage: they want you!!!

3. Get in the Salary Mindset
1. Make sure you want the job.
Do not start the negotiation process unless you are sure you are taking the job, regardless of the outcome of your negotiation.
2. You need to handle your salary negotiation in a way that you feel comfortable with.
Doing your research and knowing the value of your skills in similar positions in your area will help with this.
3. Our goal is to help you get paid fairly.
Not to have you negotiate your way out of a job or create poor relations with your future employer.

4. The three t’s
Tactics
Tone
Tips
Set the scene for salary negotions

5. Setting the Tone BE POSITIVE
Salary negotiation is a discussion - a conversation about mutual needs. Don’t make this adversarial. Think win- win. Think in terms of “hopes” instead of “demands” or even “expectations.” Be respectful, polite, and realistic.
BE PERSUASIVE
This begins with nailing the interview process and clearly articulating your value and fit to the employer over and over.
Be ready to make your case. If you have done your research, you have the data to back up your salary requests. Reiterate your interest when necessary. Be persistent, but not overbearing.
BE FLEXIBLE
Do not decline a job offer outright if the salary isn’t what you are looking for.
Even if the salary offer is firm, there may be other forms of compensation that can be negotiated. Brainstorm ways to meet your goals and their needs.
Do not take this process personally and do not overshare.
Never make demands, always say you are hoping for more instead of expecting more
Be persuasive- you’ve done your HW and you know your worth. You know want you want vs. what you need (minimum) Remember needs might not always be money based

6. Tactics
You should have identified a range that reconciles the market rate for the job in that geographic region and your personal financial calculations.
The range starts with minimum salary  target salary  above target salary.
Example: $30,000 - $35,000 - $40,000
Never be the first to name a salary figure, if possible leave this blank on any application where the question is asked
“My research says the salary range is between ______ and _________ for someone with my qualifications.”

7. Tactics for Avoiding Salary Negotiation
BEFORE You Receive an Offer (Why?)
Employer: “Are you willing to accept the advertised salary?”
Applicant: “I’d like to discuss the job first. I need to know whether I’m the right fit and that you’re offering me the job.”
Employer: “What would it take for you to accept this job?”
Applicant: “If your offer is fair, then I’m sure we can reach an
agreement.”
Ask students to refer to options for putting off the discussion of salaries in their workbooks. Ask for ideas why you should wait.
Employer: “If you were to receive a job offer from us, would you
accept it?”
Applicant: “While I am very interested in the job and the company, it depends on the offer. I’d be glad to respond to a specific offer.”

8. Tactics to Avoid Answering Questions About Your Previous Salary (Typically Occurs BEFORE You Have Received an Offer) Why?
Employer: “So what were you being paid in your last position?” Applicant: “Well, my last position was very different from this one, in terms of the nature of the work and the responsibilities. So it really doesn’t help to compare that position with this one”
Employer: ”I’m just curious?”
Applicant: “I assume you are asking me to ensure that you and I have similar salary expectations. I can tell you that I am very interested in this position and I do not expect there to be any issues with coming to an agreement on salary.”
Do not try to start negotiating.
Remember: You have no leverage until an offer is made.

9. Tips
Anticipate objections and be ready to respond. Script your responses to every anticipated objection.
It is most effective to try to negotiate your salary right after the first offer is made, as opposed to having to think about it and get back to them. You may need to “think about it” after the negotiations are complete.
This is why you need to do your homework in advance.
If you have been on a second interview and are getting positive feedback, get going on your research!
Only negotiate at a time and in a place where you can do it effectively.
Tactics for negotiation- aim high and be realistic
Anticipate the employer’s interests and base your salary negotiations on your value. What are you offering the company? Know the company’s goals, products, current business condition, marketplace. This puts you in a better place to speak to how you can add to the business and why you’re worth what you are negotiating.
You have to sell yourself- Make sure you give examples

10. If you have a choice, never negotiate by email! Why?
Tips
If you have a choice, never negotiate by ! Why?
If you receive an offer by , reply that you would like to discuss the offer in person or, if necessary, over the phone and inquire as to a good time to contact him/her.
If you have no choice but to negotiate by , craft your responses very carefully.
Conversely, if you finalize a negotiation by phone, ask if employer would be willing to the offer just so you have all the information. Why?
This is especially true if you are leaving one job for another!
All this takes time and practice, but by practicing the above tips you are being polite, respectful, and positive. You are also signaling that you understand that salary negotiation is a process.

11. Part 1: You Got the Job!
The job offer didn’t include a salary offer. Avoid naming a figure first
Employer: “We would like to bring you on as an account executive. Do you have a salary in mind?”
Applicant: “I am very interested in this position and will consider any reasonable offer. What are you offering?”
Employer: “Would do you consider reasonable?”
Applicant: “Well, I assume that salary is just one part of the whole compensation package for this position. Can you tell me more about the other benefits?” (Employer describes benefits)
Employer: “So what salary do you have in mind?”
At this point, you need to read the situation. Do not be evasive if you think it will start impairing goodwill.
Option A: “I really feel you have a better sense of what this position is worth. What does your company typically pay someone in this position with my qualifications?”
Option B:“My research tells me that someone with my skills, education, and qualifications doing this job earns between ___ and ___ . What’s your offer?”
Notice how your response always end with a question? Force them to make the next move.
Remember- when salary negotiation talk starts you’re already prepared.
you’ve determined the salary range the job keeping in mind local trends
You’ve developed a target salary you believe reflects how well you meet the job qualifications
You know the minimum you would accept based on your personal budget
You know the value of benefits

12. Part 2: Starting Salary Offer
Interviewer offers a salary figure. Congratulations! We have moved on to Part 2!
But take your time! Your starting salary is too important to say yes immediately.
Think about the offer in terms of your minimum, target, and above target salary.
Listen Carefully to what the interviewer says. “This is what the job pays” is different from “Here is the only offer we can make.”

13. Part 2: Starting Salary Offer – Scenario 1A
Your range is $30,000 - $40,000 Employer: “The offer is $28,000 per year.” This is below your acceptable range. Applicant:_________ How would you respond?
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14. Part 2: Starting Salary Offer – 1A
Applicant: “As you know, I am very interested in this position. But the research I have conducted on pay ranges for this job in Naples indicated a range higher than $28,000. Is there any flexibility in the salary?” Employer: “What did you have in mind?” Since they have given you a number, you now have to counter-offer.
Applicant: “ I was hoping for something closer to $38,000.
There is not a set number to use here. It is up to you to feel out the situation.
Employer: Unfortunately, the salary range set by our company for this position doesn’t allow me to pay $38,000. I can talk to my supervisor, and there may be a chance I can give you $32,000.”
Applicant: I appreciate your flexibility. As I have said, I think this position is a really good fit for both of us. I can hit the ground running in this job as soon as you need me. Do you think you could propose an offer of $35,000 to your supervisor?”
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15. Part 2: Starting Salary Offer – Scenario 1B
Applicant: “As you know, I am very interested in this position. But the research I have conducted on pay ranges for this job in Naples indicated a range higher than $28,000. Is there any flexibility in the salary?”
Employer: “No, that is my final offer.”
Applicant: _______________
How would you respond?

16. Part 2: Starting Salary Offer – 1B
This is below your minimum. Test the waters, see what happens. You may have nothing to lose. Option A: “I think we both agree that I am a good fit for this position. I can hit the ground running in this job as soon as you need me. But the research I have done on the salary range for this type of position in Naples is between $30,000 - $40,000. I understand, as a smaller company, you may not be able to pay the top range. But would you be willing to offer a salary of $32,000?”

17. Part 2: Starting Salary Offer – 1B
Employer: “I’m sorry. I wish I could offer you more, but I can’t. The position pays $28,000 and I have no flexibility.” What now?

18. Part 2: Starting Salary Offer – 1B
Applicant: “I understand. Before I can fully evaluate the offer, I would like to understand a little more about the benefits package. Could we discuss those at this time?” You may be able to negotiate something in benefits that makes up for the lack of salary, so don’t give up yet!

19. Part 2: Starting Salary Offer – Scenario 2
Your range is $30,000 - $40,000 Employer: “The offer is $35,000 per year.” This is your target salary. Applicant:_________ It is a fair offer. How would you respond?
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20. Part 2: Starting Salary Offer – Scenario 2
Applicant: “Thank you for the offer. I am very excited about joining your company. Is there any flexibility in the salary?” Employer: “We think this is a fair offer.” Again, you need to read the situation. Option A: “I do too. Thank you. Before I accept, I would like to understand a little more about the benefits package. Could we discuss those at this time?” Option B: Try for more based on your qualifications for this position
Take your time when negotiating. Your starting salary is the baseline for future salary increases.
Cautions for new grads:
Avoid the tendency to accept whatever you’re offered because you just want a job
You have the ability to do the work, otherwise the employer would not be offering you the position
Remember the qualities which make you successful
Hiring decisions are based largely on personality, enthusiasm, and transferable skills.

21. Part 3: Benefits
After you have received that acceptable salary, negotiate your benefits.
To do
Check to see if the employer offers each benefit.
Ask if the employer offers other benefits.
Ask about the financial support for each benefit offered.
Add up the value of offered benefits to see if they compare to your benchmarking work.

22. Part 3: Benefits
If the benefits are equal to or exceed the norm—good! If they are much smaller—then what?
Whatever the reason the employer is not offering competitive benefits is not your concern.
Can you go elsewhere and get better benefits?
Don’t penalize yourself by not negotiating for benefits.
Be creative about ways to make up for benefits shortfalls.

23. Part 3: Benefits
What might make an unacceptable offer more acceptable?
Monetary
Salary
Promised increases
Yearly bonuses
Signing bonuses
Profit sharing
Stock options
Balance-sheet approach
List reasons for accepting
List reasons against accepting
Take your time
Near-Monetary
Benefits
Overtime pay
Company car
Travel awards
Relocation assistance
Expense coverage
Dental or optical insurance
On-site free child care
Non-Monetary
Title
Training and education
Promised review dates
Travel assignments
Home equipment usage
Extra week of vacation
Be creative, but remember that benefits have to benefit you! Hold off your decision until you see the entire compensation package.

24. Final Thoughts
Before finalizing the offer, make sure you get all your questions answered:
What are the promotional opportunities of this position to what position or level?
How and when will my performance be reviewed?
Will this include a salary review?
What kind of salary progression would be expected in the first three to five years?
Be sure to get the complete job offer in writing and READ it!
Never blindly accept at the time of the original offer. Ask for time to consider the entire compensation package. What amount of time is appropriate?

25. The Decision
Your decision to accept or decline a job offer is a personal one that only you are capable of making.
Only you know your personal circumstances as to whether you can afford to decline a job offer.
Sometimes short-term sacrifices can pay off if you can get your foot in the door.