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Monday, November 30, 2015

Salary Negotiation and Handling Job Offers

There is always a lot to consider when you decide to embark on a new opportunity. Around this time of year, many of you are interacting with employers, starting to receive offers for full-time jobs, internships, co-ops, and are finding yourselves having to make decisions on WHICH TO CHOOSE.

The following are issues to consider…

Business Communication


  • How has your experience been interacting with the recruiter?
  • What are good questions to ask when you are trying to make a decision?
  • How do you respond to an offer letter?
  • What parts go into this personal evaluation?



Evaluating the Offer

Negotiation


  • Is this even an option for the company I am interacting with?
  • Outside of salary, what else can I negotiate?

Accepting and Declining Offers

  • How do I this both professionally and timely?


To answer those critical concerns….

How has your experience been interacting with the recruiter?

Maintaining open communication with employers is crucial to making a well-informed opinion. Be sure to stay positive, professional, polite, humble, clear, direct, and easy to reach. Never complain, assume, or brag.

What are good questions to ask when you are trying to make a decision?

Ask questions and take notes as you receive answers! You are going to want to know about expense accounts, amount of travel, opportunities for advancement within the company, what your work hours are going to be, who you are going to be working with, insurance package and benefits, moving allowances, and retirement benefits.

Other questions some students forget to ask, but are equally as important are about vacation and sick time, dress code, start dates, frequency of pay, and how pay is evaluated (salary, hourly, commission?)

How do you respond to an offer letter?

An offer letter is a formal agreement that officiates the offer the company is giving you. It also describes the position you will be taking, and other pay and date specifics.

When you receive one, be sure to do the following things. Ask for time to think about whether or not you want to accept, set a date to decide that the employer is comfortable with, thank them for the offer immediately, and start the evaluation process!

What parts go into this personal evaluation?

Consider what is important to you. Think about how you want to spend work and personal time, is this job a good match for your skills and interests, does the company have similar values to your own? Map out the company’s logistics:

  • Size of the company, hours, pay, location, benefits, opportunity for advancement
  • Do these details align with your personal preferences and career plan?


Is salary negotiation even an option for the company I am interacting with?

This does not mean you look greedy! There is a very appropriate way to handle part of your career decision. Do keep in mind most companies do NOT actually do salary negotiation. But if they do allow it, be sure to research what an appropriate number would be for the position you intend to take.

It is very important that you are never the first person to even mention salary when communicating in the hiring process!

When the employer does bring it up, you will have an idea of what you want to say. You can use salary negotiating calculators online. Here is an example of one that considers location of the job: http://www.salaryexpert.com/

Outside of salary, what else can I negotiate?

You can negotiate things such as time off, re-location expenses, your start date, and much more.
Here are some more sites that are used for calculating appropriate salaries:



How do I do accept and decline offers both professionally and timely?

When declining the offer, do not feel bad! Remember, this is a business decision. Be sure to thank them for the offer, give an idea as to why you are declining, do it over the phone, and do not delay the time that you decide to decline. Be aware of not burning a bridge with these companies. At the time that you are declining, they may not be the best fit; however, you never know what the future holds for your career.

When accepting the offer, you want to do some similar things…minus the rejection! Be sure to accept over a phone call, thank them for the offer, indicate why you wanted to choose them, and follow up about officiating the acceptance.

From there, you will likely follow company protocol as to how to really get started. Be prepared for talking start dates, background and drug checks, and things to do for that first day of work!

Lastly, always remember to congratulate yourself on a job well done! You are officially on your way to a career path.


For a quick reference to answer some more FAQ’s about salary negotiation and making career decisions, visit the Virginia Tech Career Services site: https://www.career.vt.edu/JobSearchGuide/SalaryQuestionsNegotiating.html

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