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The "Secrets" of Salary Negotiation
Transcript of The "Secrets" of Salary Negotiation
Office of Career Planning Secret #1: You should always try to negotiate, even in a competitive job market Secret #2: Effective negotiation requires doing research and knowing your personal needs Secret #3 Never be the first one to state a number
(or, you do not always need to disclose your current/previous salary or your salary requirements during interviews) Secret #5: You can negotiate benefits and perks, too Secret #4: Your best chance at negotiating salary is when getting a new job at a new company Not Secret: Office of Career Planning
40 Jessie Street, 3rd floor
www.ggucareers.com GGU's Career Consultants can help you with your negotiation strategy.
Schedule an appointment through GGU Careers. First offer Higher raises Ultimatums
Playing multiple offers Step 1: Your own financial needs Step 2: Research salaries indeed.com/salary access via GGU Careers www.glassdoor.com Step 3: Determine salary range & minimum Step 4: Identify non-monetary benefits Step 1: Decline to answer specific salary questions Step 2: Answer the implied question Step 3: Change the subject with an open-ended question Step 1: Decline to Answer "It's too early to discuss salary" "That's personal information" "I'm flexible" Option 2: Answer Implied Question "I'm confident we will agree on salary after we determine I am the right candidate" "Based on my research, I am sure salary won't be an issue" "I need to learn more about the position first" Step 3: Change Subject "What accomplishments are expected in the first 90 days?" "How is performance evaluated in this company?" "What are the biggest challenges facing the person who takes on this role?" Put it all together.... "It's a bit too early to discuss salary, but I am confident we will be able to come to an agreeable offer once we decide I am the right candidate for the job. Can you tell me what accomplishments are expected of this person within the first 90 days?" Paid time off Start date Telecommuting Hours/Schedule Professional development Technology -cell phone, laptop, tablet Tuition reimbursement Bonuses Evaluations/reviews Etiquette/Tips Best offer Negotiate these! Professional association dues Phone screen Interview 1 Interview 2 Offer Post offer 1st year review Leverage Time Elapsed Chopra Leverage Graph for Salary Negotiations Contributing Factors: Investment in interview process
Time, energy, money Info/lack of info on salaries Lack of equivalent candidates Urgency/pressure to hire An exceptional/perfect candidate Unique/rare skills Likability/emotional intelligence It's expected! Today 5 "Secrets" of Negotiating Compensation Negotiating in tough job market Determining your salary requirements Handling salary questions during interviews Understanding leverage What's negotiable Etiquette/tips for negotiation Leverage = Your Bargaining Power They want YOU (to say yes) May I take the weekend to think about it? Could you email me the details of the offer? I was pleased to receive your offer and I am excited about the prospect of working for your company! Is the salary figure the best you can offer? I will call you on Monday to discuss the offer. 1. Additional time-off
3. Company cell phone Lie Practice!