Salary Negotation Guide

WHAT IS NEGOTIATION?

Negotiating salary and benefits is simply the discussion of a job offer. While some may find salary negotiations to be intimidating, it does not have to be. You and the potential employer are on the same side. It is important to consider all parts of the compensation package when evaluating a job offer, including but not limited to salary, benefits, relocation, opportunities for advancement, and continuing education.

ORGANIZE YOUR THOUGHTS

What are your lifestyle and professional needs?

  • Research on average salaries
  • Evaluate your needs
  • Identify your salary range
  • Set an exact number

Know the Stages of Salary Negotiation

Interview Stage

  • Know your target salary range
  • The market value of the to consider the offer position
  • Gain a clear understanding of the role:
    • Day to day functions and responsibilities
    • 30 day, 6 month, and 1 year goals

Initial Offer Stage

  • Ask for a reasonable amount of time to consider the offer (typically 2-5 business days)
  • Evaluate the entire compensation package
  • Calculate a sample budget and your lifestyle needs

Counter Offer Stage

  • Beyond salary, what do you need to be successful in the role?

KEY CONSIDERATIONS

  • How does this position align with your long term goals? (opportunities for advancement or professional development)
  • What are your priorities?
  • Where is the organization located?
  • What are your needs (benefits, lifestyle, work environment)?
  • Is the position your 1st, 2nd or 3rd choice?
  • Will this decision impact family?
  • What is the cost of living in this location?
  • Does the location fit your desired lifestyle?

COMMUNICATION TEMPLATES FOR EMAIL OR PHONE CONVERSATIONS

Asking for More TimeMaking a Counter Offer
VerbalThank you so much for the offer; I am truly excited about the position. Do you mind if I take a couple
of days to consider your offer? What is a timeline you are comfortable with?		Based on my understanding of the role and my research, I think [salary amount] is a place I am more comfortable
with.
EmailDear [Name],

Thank you for offering me the position of [your position title] at [company name]. Detail what makes you excited about the role
I feel confident I will make a significant contribution to [restate role priorities from the interview].
I will take time to review your offer, and get back to you in __ days.

Kind Regards,
[Your Name]		Dear [Name],

– Introduction: After careful review of your offer, I am very excited about this opportunity. However, I would like to discuss the salary component further.
– Summary of your contributions that merit a higher salary: “I know I would be a great fit for the position because of [how you can add value]. Detail three to six ways you can make immediate and long-term contributions to the role.”
– Confirm the original offer: restate the verbal or written offer as a formality to set the stage for your counter offer
– State your counter offer: “Based on my research, I would be more comfortable if we could settle on $___ as it more accurately reflects the value and expectations of this position”
– Wrap-Up: Restate your interest and fit in the role. “Thank you for your time and please let me know what the next steps are.”

Thank you,
[Your Name]

**Take notes of your talking points**

LET’S PRACTICE (ADAPTED FROM: FORBES)

  • Interviewer: [Answers your call]
  • Candidate: Hi [Recruiter Name]! It’s [Candidate name]. How are you today?
  • Interviewer: I am good; it has been a busy day. Did you get the offer letter?
  • Candidate: I did! Thank you very much for that.
  • Interviewer: Have you had a chance to look it over?
  • Candidate: Yes, I did and I wanted to chat with you about it.
  • Interviewer: Sure.
  • Candidate: First of all, thank you so much for the offer. I’m very excited to join your team and get going. However, we’re a little ways apart on salary. Could we talk about that for a moment?
  • Interviewer (warily): Yes, but I do not know how much more I can do.
  • Candidate: Based on my understanding of the role, I think $ _ is a place I am more comfortable with.
  • Interviewer: Let me see what I can do.
  • Candidate: Thank you. I am excited about this opportunity and I am looking forward to arriving at an agreement and setting a start date

Organization Counters Offer

  • Interviewer: Hmm. Well, obviously I really want you on our team. It is just that when we looked at the budget, we thought [$ AMOUNT LOWER THAN THE STUDENT’S COUNTER OFFER] would be a good starting point.
  • Candidate: I completely understand. However, based on my market research the value of this position coupled with my qualifications, and the responsibilities and goals of this position what do you think about [LOWER $DOLLAR AMOUNT FROM SALARY RANGE AND DISCUSS OTHER BENEFITS IF THEY ARE OF INTEREST].
  • Interviewer: Let me see what I can do.

Final Counter Offer

  • Interviewer: After reviewing your offer with my supervisor and the team lead, we are firm on this final offer of [$ dollar amount and benefits package].
  • Candidate: [evaluate acceptance based on your previously identified salary range and other factors of importance].

Make sure the agreeable terms are in writing.

ACCEPTING AN OFFER

  • Green Light: Accept verbally and in writing.
  • Yellow Light (good fit, but lower salary): Accept and ask if there is a salary review period.
  • Red Light: Thank them, but unfortunately, you must decline. Remain positive & professional.

ADDITIONAL RESOURCES

Budgeting

Wages and Market Rate

View Resource