You Got the Offer. Now What?Tips for Managing and Negotiating Job Offers.

Keith Munson, Career Specialist

Strommen Career & Internship Center

Augsburg College

Lower Level Anderson Hall

Topics for TodayWhat to expect when you receive

an offer.Typical aspects of job offers.Preparing for negotiations.Negotiation strategies.Others?

Let’s take a quiz…..At what point should you discuss

salary (ideally)?A. When you apply.B. During the interview process.C. After you have been extended a job

offer.D. Your first day of employment.

Quiz AnswersAt what point should you discuss

salary (ideally)?Answer: After you have been

extended an offer.You then know the company is

interested and you have more leverage.

You avoid being excluded b/c of salary requirements.

Let’s Take a Quiz…..True of False: You should always

be the first person to state a salary figure.Answer: False. It is in

your best interest to let the employer state the first number. If you are the first to state a figure, there is a better chance of “leaving money on the table” with a low figure or taking yourself out of the pool with too high of a figure. Let the employer “go first”.

Let’s Take a Quiz…..True of False: You MUST always

negotiate.

Answer: False. •Some companies may expect you to negotiate but it is always your decision.•The decision to negotiate should be based on the terms, not a general rule.• Not all companies negotiate.

Let’s Take a Quiz…..What items are included in most

job offers?A. Base salaryB. Signing BonusC. Start DateD. Health benefitsE. VacationF. All except B.

Quiz AnswersWhat items are included in most job

offers?Answer: F. All except signing bonusBonuses and other “perks” are

becoming less common.Most offers include: salary, vacation,

start date, health benefitsExtras may include company car, cell

phone, tuition benefits, and moving expenses.

Let’s Take a Quiz…..What aspects of an offer are

typically negotiable?A. SalaryB. BonusC. Start DateD. Health benefitsE. VacationF. Review date

Quiz AnswersWhat aspects of an offer are

typically negotiable?Answer: Everything except

health benefits. Health benefits are almost always the same for every employee and not open to negotiation. Salary, bonus, start date, and vacation can be negotiated based on experience and skills, but health benefits typically can not.

Let’s Take a Quiz…..What information do you need

BEFORE beginning negotiations?A. Market salary rangeB. A personal budgetC. Offers extended to other

candidatesD. A sales pitch of your skillsE. All of the above, except C.

Quiz AnswersWhat information do you need BEFORE

beginning negotiations?Answer: All of the Above, except C.You need to know typical salary range.You need to know what you need in order to

pay typical billsYou must be prepared to convince an

employer of your worth with a strong sales pitch.

The offers to the other candidates is NOT information you should expect to receive-your offer is based on YOU, not other candidates.

Resources for Salary/budget information.Salary

◦Strommen Career & Internship Center website.

◦Glassdoor.com◦Payscale.com◦Salary.com

Budget◦Sample budget form◦Sample job offer comparison

Important Negotiation StrategiesLet the employer state the first

salary figure.◦Don’t put yourself out of the market

by stating a number that is too high◦Don’t “leave money on the table”◦Always state a range rather than a

concrete number◦Do your research on the market for

that type of position/employer.

Important Negotiation StrategiesWait for an offer before

discussing salary (if possible).◦You want the employer interested

before you talk money.◦Discussing salary before you have an

offer may hurt your chances.◦“I’m very interested in this position

and would like to talk more about the fit before we discuss salary. If there is a good fit, I’m sure we can work out a fair salary”.

Important Negotiation StrategiesHandling an offer when you still

have interviews/other opportunities◦You may be able to “speed up” an

employers decision but informing them of an offer from another company….BE CAREFUL.

◦Don’t bluff about other offers. Maintain ethics and honestly in negotiations.

◦Using other offers as a reason to increase an offer is a dangerous game! BE VERY CAUTIOUS!

Important Negotiation StrategiesTake time to consider an offer.

◦Don’t accept an offer “on the spot”.◦“Sleep on it”-allow yourself at least

one night to consider the offer.◦Thank the employer for the offer.◦Ask if the employer has a time limit

for your consideration.

Important Negotiation StrategiesPrioritize your areas to negotiate:

◦Start with salary~typically most impact on your earning long term.

◦Bundle the areas you’d like to discuss. Don’t “surprise” the employer with additional

requests after each change to the offer. “The offer looks very good overall. There are

two areas I’d like to discuss, moving expenses and start date. Are these things we can discuss?”.

◦Decide what is most important to you and negotiate that aspect first.

Job Offer EthicsRemain professional in follow up

and language◦Avoid negative phrases◦Focus on win-win strategies◦Remember you will be working with

the people you are negotiating with◦Maintain honesty◦Appreciate the job offer and thank

the employer….even if you don’t take it.

Final Thoughts and Questions