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Salary Negotiation

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by

Jakob Manska

on 4 November 2014

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Transcript of Salary Negotiation

Salary Negotiation
Why Negotiate Your Salary?
Pre-Negotiation Research
Negotiating a Benefits Package
Overall, a benefits package can make up
30% of your salary.
Negotiating a Promotion
Average cost for a company to replace a quality worker is $150,000
Establishing Gender Bias
By: Troy Monson, Eric Zager, Adam Parker, and Jakob Manska
How to more effectively negotiate
Getting Promoted
Why to negotiate a benefits package?
Salary is lower than expected

Lifestyle needs

Experience with the company

Over 20 different benefits!
Dental, Health, and Life Insurance
Varies depending on employer

Questions to ask:
-What does the policy cover?
-How much is the premium or copay?
-Who's covered under the plan?

Vacation Time
Two weeks vacation is common
-More experience = more time off
Early Performance Review
Negotiate an initial review for six or nine months
Retirement Plans
Benefit Plans
-Pension

Contribution Plans
-401k
Remember, salary
isn't everything!
Job-seekers who changed jobs and negotiated their salary, netted a mean increase of 14%
Get What You Deserve!
Two aspects:
Asking for a promotion

You already got the promotion.
What
not
to do is often more important
What to do/Self Promotion
Do you Deserve it?
Employers may not negotiate salary for entry-level positions
Research salary websites
Use Linked-in as a source
Talk to recruiters
Glassdoor.com
Indeed.com
Payscale.com
Salaryexpert.com
Got the Promotion
Preparing for promotion negotiations is different than first job
What's currently going on in the company
You are in the Drivers seat
Be confident in yourself
Ditch the myth
Questions?
No ones perfect
85% of people to negotiate salary
increased their pay or benefits
How to Handle Negotiations
How do I start negotiating?
How do I handle their offer?
How do I make a counter proposal?
MN Fact: 64% of full-time employees are offered contribution plans, while only 15.6% are offered benefit plans
Full transcript