Well friends, it’s been a week since we started our journey in March Madness! I hope your brackets are going well and you will continue to strive for the final four! However, if you bracket is completely and absolutely messed up, I totally feel you. Even though you can’t really change or negotiate your bracket, you can negotiate your job offer! Taking the time to understand why and how you should negotiate your offer is very important in your professional development. Below are tips, need to knows, and what to do in regards to negotiating your job offer:
You got this!
Receiving a job offer is exciting, but can be stressful if you feel your expectations or worth is not met. If you feel you have a reason to request a higher salary or benefits, take the time to go through the process of negotiation. Be empowered to negotiate your offer if the facts are all there. Maybe last summer you interned for the same company who offered you a job. You may feel that is a benefit for the company, because you will need less training. This is a perfect example of thinking about what you bring to the table, and why you deserve to negotiate your offer. Do your back ground and qualifications go above the average in your credentials?
Remember that you do not always have to just negotiate your salary. In negotiating your offer, you can negotiate benefits, signing bonuses, time-off, relocation expenses, your start date, and more.
The Ball is in YOUR Court!
First you need to make sure you do your research. Does the company your offer is with do salary negotiations? If so, you need to be prepared to show evidence of that salary. Take the time to do some comparisons of the salaries relative to the cost of living in that area. As long as you do your research, the ball is in your court to share the reasons why you deserve this negotiation.
Use your Equipment!
Be sure to check out our Post-Graduation Report! This annual survey is from previous Virginia Tech graduates that can provide you with major-specific salary information. Data from over the past five years is available.
The Bureau of Labor Statistics can also be helpful in finding information on your industry on the topics of wages, earnings, and benefits. This resources is part of the U.S. Department of Labor. Salary.com will also be a similar useful tool in finding a specific job in a specific location.
Paycheckcity.com can be useful tool as a salary calculator that you can take out your financial expenses and see if how doable your offered salary is for the area you will be in.
Still want to take some time to look at more resources? Feel free to check out the list of salary information resources on our website.
Pass the Ball
Once you feel that you are ready and prepared to negotiate your offer, there are a few things you need to keep in mind:
1. Ask first! You want the company to know that you are thankful for their offer but would like to discuss compensation.
2. Ask how the organization structures salary ranges and how your offer was determined.
3. Present your case with numbers and facts.
4. If you are told no, that is okay! Be okay with getting a decline if that happens, because you tried your best!
Teamwork for the WIN!
Know that you do not need to go through this process alone!
You can always make an appointment with an advisor to talk about job offers and negotiation. We are excited for you to go through the process of negotiating your salary and would love to help you along the way. You can also stop by the Smith Career Center for walk-in advising available Monday – Friday from 12-3pm to get a conversation started about your offer. Enjoy the negotiating process and feel empowered to take the next step! Good luck!