Industry Insight and Salary Negotion

Company Research

Use Potsdam email

Using

Register: http://access.vault.com

Industry Statistics

https://www.careeronestop.org/Toolkit

Salary Statistics

https://www.careeronestop.org/Toolkit

Market Value

• What are comparable salaries and positions
• What do similar positions in the industry pay in your geographic region
• How much do current employees earn
• Where do you fit in the organization- is this an entry level, management, or executive position

4 STEPS TO SALARY NEGOTIATION

1

Know the Facts

1

Know Your Worth

1

Know Your Salary

1

Know Your Strategy

Gender Pay Gap

KNOW THE FACTS

1 Year Post Graduate              $-10,169 White Woman

10 Years Post Graduate          $-101,690 average    $-260,120 Latina

20 Years Post Graduate         $-203,380 average   $-425,580 African American

30 Years Post Graduate         $-305,070 average $-780,360 Latina

40 Years Post Graduate         $-305,070 average

$ -265,440   Asian American

$ -460,040   White

$ -851,160    Native Hawaiian/Pacific Islander

$ -977,720     Native American/Alaska Native

$ -1,040,480    Latina

KNOW YOUR VALUE

• Identify a list of your accomplishments, skills and results
• Create and Practice 3-5 Value Statements

ACCOMPLISHMENT - USING ACTION VERB

SKILL

"I accomplished __________________________________________

using my _______________________ which benefited our company by

______________________________.

RESULT

Research Comparable Jobs

KNOW YOUR SALARY

Find 2-3 Jobs Postings - Compare Description, Tasks, Responsibilities, Required Education and Experience to Identify Your Preferred Job Title

Target Salary and Walk-Away Point

Median

Target

Walk-Away

• Identify the Target Salary - should be median/avg
• Target Salary Range - using the Target Salary as the bottom # and no more than 15% above Target Salary
• Walk-Away Point - Take into consideration your personal situation and budget

KNOW YOUR STRATEGY

• Be Positive and Flexible
• Conversation NOT Confrontation
• Focus on Skills Matching Employer Needs
• Keep Personal Feelings Out
• Don't Over-share
• Redirect Discussion on Salary Until AFTER Job Offer
• Know Pay Equity Laws

http://www.ncsl.org/research/labor-and-employment/equal-pay-laws.aspx

THINK ABOUT...

SALARY

Know your worth!

HOURS/SCHEDULE

Monday - Friday, 9-5 or Weekends or Late Afternoon/Evening Shifts

COMMUTE

Time is valuable! Distance = Gas = $$

ENVIRONMENT

Work values, preferences, culture

BENEFITS

Medical, dental, vision, paid vacation, paid sick, tuition remission

- what is paid by employer and what is deducted from your salary?

ETIQUETTE

RULES!

• If you accept, you should plan on staying in the job for at least a year

• Always thank the person who is contacting you for the opportunity, even if you are not interested in the job

• Never give an immediate answer either way - you may ask for 24-48 hours to consider the offer (this helps also with multiple job offers)

• Once you accept, you should end your job search - it is unethical and unprofessional to rescind a job offer

DECIDING BETWEEN OFFERS

THINK ABOUT...

• Is the industry growing?

• Is the economy in the location steady, growing, booming?

• Are there opportunities for growth?

• Are there opportunities to earn more?

SAYING YES!

“I’m so thrilled to hear back from you and can’t wait to review the details of the written offer. When would you like to have my response by?”

A written offer allows room for reviewing terms of employment and positions you to negotiate terms of the job offer.

“It was great talking with you the other day. I am excited about the opportunity to work for your company. Before I accept, I would like to clarify the terms of employment.”

“It was great talking with you the other day. As discussed, I am thrilled to accept the job offer to work for your company. I appreciate the time you've taken during the interview process and look forward to getting started in my new role."

How to Professionally say "No"

• Show appreciation

• State a reason

Thank you again for the interview last week—it was wonderful meeting your team. I enjoyed learning about the position, and I appreciate this generous offer.

After careful consideration, I have accepted a position at another company.

or

While this position seams like a great opportunity, I have decided to accept a position that offers more opportunities that support my career goals.

Again, thank you for the opportunity and wishing you all the best

• Closing