SALARY NEGOTIATONS

Gauging Your Worth

& Earning What’s Fair

With Cheryl Paul, MEdFaculty Advisor, Pittsburgh ChapterDirector of Student Services, Swanson School of Engineering

Impact of NEGOTIATING

Did Not NegotiateWorked for a Better Offer

2012 $48,000.00 8.00%2013 $51,840.00 10.00%2014 $57,024.00 15.00%2015 $65,577.60 20.00%2016 $78,693.12Salary Increased: $30,693.12

2012 $56,500.00 8.00%2013 $61,020.00 10.00%2014 $67,122.00 15.00%2015 $77,190.30 20.00%2016 $92,628.36Salary Increased: $36,128.36

What began as a $8500 difference; In 5yrs grew to a $13,935 difference!

Framing your Baseline Expectations Today’s Job Market: Setting a Salary Goal Understanding the Cost of Living index The Art of Negotiation Consider your affiliations:

Delta Chi is more than a student group!

Questions?

Our Objectives

1. Qualifying yourself to an employer

2. Then, negotiating for a full compensation package

Salary Negotiation take place in TWO stages:

What is Most Important in Your Job?◦ Cash Compensation?◦ Benefits?◦ Boss?◦ Location?◦ Commute?◦ Job Security? ◦ Level of Teamwork?◦ Work Environment?

Take time for the “Pillow Test”

Are you excited about this job?

What are

your

Priorities

?

Create a list of monthly expenses, such as:

Rent Car payments/Insurance Utility Bills (water, gas, electric) Cable and/or internet service Student Loan(s) Credit car payment(s) Groceries Gasoline Entertainment/Eating out

Total these numbers for baseline income.

Projecting Your Budget

Benchmarking a Salary(Or, How not to get screened out of an interview)

Know your value on the market! ◦ Talk to others doing the work◦ Learn what your industry is paying currently

Develop a realistic picture:◦ Use web tools – there are lots to chose from◦ Demo: http://www.salary.com/category/salary/

Learn the ‘Power Factors’…

Company factors Profitability Position in the business cycle (startup, growing, stable,

turnaround)

Hiring manager factors Urgency of the company's need to fill the position Decision-making authority Staffing budget

Applicant factors Technical expertise, unique knowledge/skill set Level of competition/availability of other candidates Career risk of the job offer

Power Factors: Your Advantage

What you need to maintain your life as you know it (aka = Standard of Living)

How to be realistic…◦ http://www.payscale.com/cost-of-living-calculator/◦ Also: http://www.bestplaces.net/col/

Compare two locations◦ http://

hotpads.com/sites/rentersGuide/before/whereToLive/how-to-compare-the-cost-of-living-in-two-cities

Cost of Living

Remember: A dollar in one place is not the same in other locations!

Look the part Maintain your composure TALK to HR! Avoid Email. Do not text. Don’t give # too early! Make them want you. So, they give you offer you don’t like…

◦“Do you mind if I share some of the research I’ve done on the job market & the cost of living?” Demonstrates your sincerity Provides concrete data to work from

Negotiating: It is WHAT you KNOW & HOW it is conveyed

Talking is preferable to written communication. Use some reason having to do with your personal

scheduling or something else… Spoke too soon? Sample explanation to HR rep:

"I have a heavy schedule of traveling in the next few days, I wanted to leave with you my availability because I'd be willing to reschedule any of that in order to get my 2nd interview. By the way, I was a little worried that I might come in outside the range you were thinking of for this position. Because of my background and experience  and my fondness for the types of people you care for, I want to make sure you have everything you need in my full cooperation to set up a 2nd interview."

A Word on Sharing Salary Numbers

Excellent Communication Skills Leadership Respect for Diversity Organization/Program Planning Record Keeping/Documentation Fiscal Management/Responsibility

Typical Job CompetenciesIntersect with Nearly Every Level of Fraternal Experiences

Why? Clearly qualify yourself to position.

When? At times when your discussion is driven to increase a result.

How? Recognize offer, verbally express gratitude, humbly point out the skills you bring to position.

Using Your Delta Chi Up AffiliationCorrelate skills gained with job competencies

Follow these steps & you’ll likely have multiple offers!

Compare the opportunities via:http://swz.salary.com/JobAssessor/LayoutScripts/Joel_JobCriteria.aspx

Feel More Prepared?

GOOD LUCK!

QUESTIONS?