Negotiating Your Future: Successfully Evaluating and Negotiating Your Job Offers
Exercise
(Answers to questions are below)
Think about how you (if applicable) might respond to these questions before you go to the bottom of the page:
- How and when do you negotiate benefits such as dental and health? I don't think I know enough to negotiate them. Are there percentages that the companies pay for?
- I have extensive experience in logistics, cost/benefit analysis, management, customer service, and sales. I have an opportunity to work for X company where my experience can prove useful. What kind of salary should I be negotiating? What criteria do I need to emphasize in order to have bargaining power?
- I am applying for positions in the IT consulting industry, and I was wondering what the competitive salary is in this field. Moreover, if I am offered a position, but with a salary I feel is low, what can I do? Also I understand that most top companies give signing bonuses of about $5000. If I receive an offer but no signing bonus, what can I do?
Answers to the questions
- "Historically the benefit package (i.e.: medical,dental,life and disability insurances) are
not open to negotiation. Most companies offer several options for you to choose from depending
on the coverage level that is right for you. For example: Medical coverage. You have a choice
of an HMO, a PPO (preferred vendor list) or an out of plan choice. The cost and coverage differ
depending on your choice."
The areas that are more frequently open to negotiation include vacation, sign on bonuses, relocation, starting salary, early reviews with consideration for salary increases etc. - "Do some research before negotiating. If possible, find out what salary other people in
your position at other companies within your industry are making. You can look in the current
issue of "Salary Survey" by the National Association of
Colleges and Employers.
Remember, the salary discussion should always START with a review of how your skills, abilities, talents and experience will help solve the companies needs, problems and challenges. You HAVE to sell your VALUE and demonstrate you potential in order to motivate the employer to want to pay top dollar for you. - "It sounds like you are preparing yourself well for eventualities in your job search. In
looking at nationwide information on salaries in consulting, IT majors, it would appear that
in September the range was $X to~$X, with an average of $X. Other internet sources suggest
this is quite an accurate range. Although the average signing bonus for all occupations in
1997 was $2600, your figure of ~$5000 in your field this year also seems to be supported by
current data."
If you are offered a competitive salary and no bonus, you may have room for negotiating
Additional references can be found on Books and Directories to Review.
Other questions can be found at:
http://content.monstertrak.monster.com/resources/archive/
(Adapted with permission from the Monstertrak)
Last updated on Monday, September 18, 06 at 01:41:08 PM EDT.
