Tagged: Perks

You Really Must Negotiate Job-Offer Salary!

The Muse offers these suggestions for negotiating the salary when you are offered a new position.   https://www.themuse.com/advice/can-i-negotiate-job-offer-when-the-description-lists-salary  Read the article below:

Negotiations are often nerve-racking for candidates because they don’t want to ask for too much and have an employer withdraw an offer.

But I want to give you reassurance that as much as you fear losing out on an opportunity, companies also fear losing great talent (like you!) by coming in below expectations. That’s why companies and candidates often have an open discussion to meet somewhere in the middle.

With that said, what can you do if the job description clearly states a salary—yet you want more? Are you still even entitled to that attempt to find some middle ground?

If you’re applying to the public sector (government jobs), the pre-determined salary range is usually close to the final offer. However, if you receive an offer, it doesn’t hurt to ask for a number that falls within the range displayed. As with any negotiation, focus on objective facts of why you believe you’re worth more (for example, the job description asks for two years of experience and you have four).

If you’re applying to the private sector (non-government jobs), I would absolutely recommend negotiating despite what was displayed on the job posting. Most companies work with a compensation benchmark system and have a low, mid, and high end of a salary range. Typically, the salary advertised is the median compensation, so it never hurts to ask for more—especially if market research data shows that your title, skills, and experience are worth a higher salary in your geographical market.

Again, you will want to remain objective in your approach: What specifically about your background adds value to the company and justifies why are you worth more? You should use measurable and tangible facts instead of subjective, loose opinions.

It might also help to know that employers expect employees to negotiate. Employers typically don’t withdraw offers because a candidate starts that conversation. However, they do withdraw offers based on how a candidate asks.

If you demonstrate that you’re polite, professional, and perceptive, an employer’s often eager to consider your requests. It’s the requests that come off as aggressive, demanding, and non-compromising that breaks the deal.

That’s why it’s never a bad idea to practice several times before the real conversation to make sure you know exactly what you want to say. You can even run through it with a friend to confirm that you’re coming off the way you intended.

Finally, if the company says they have given you the best offer, remember there are a lot of other benefits and perks you can negotiate aside from your salary.

For example:

  • Sign-on bonus
  • More vacation days
  • Telecommute perks
  • Tuition reimbursement or ongoing education and training allowance
  • Timing of next raise
  • Stock options
  • Competitive commission structure (if in a sales-related role)
  • Relocation bonus (if applicable)

Negotiating might always make you a little nervous (that’s normal!). But, in the end, remember this: You won’t get what you don’t ask for.

Let me add my own comments.  Women are earn less than men doing the same work.  One reason is that men are far more likely to negotiate starting with the first offer while women tend to accept the first offer.  To close the gap, women must adopt negotiation as the first step in getting paid what they are worth.  As the article points out, HR expects negotiation.

If the starting salary is lower for women, each raise that is a % of current salary will also be lower.  The gap gets wider with each salary bump.  Close the gap by asking for what you want.

In addition to the perks listed as alternatives to a starting salary, you can ask for a 90 day review with specific benchmarks that, if met, entitle you to a raise.  You can also ask for a performance bonus, an extra check for meeting specific performance criteria.

If you’re a little hazy on what you’re work is worth, lets figure it out together. stephanie@accessguidance.com , 610-212-6679

37 Tips To Negotiate Salary From The Experts

One of the more prominent explanations for the difference between a man’s compensation and that of a woman is that women are less likely to ask for more.  Only about 7% of women negotiate a starting salary when hired while men almost universally negotiate.

The same is true when it comes to getting a bump in salary or perks: men negotiate with the expectation of moving the needle higher where women are more likely to accept an lower figure or no increase at all.

Below is a link to a useful article from TheMuse.com detailing how to go about getting more.  The article covers preparing for the negotiation, beginning the conversation, the ask, what to do at the end of the negotiation.  This is a must read for all people who want to earn what they are worth.

https://www.themuse.com/advice/how-to-negotiate-salary-37-tips-you-need-to-know#!

Ready to practice your negotiating skills?  I’m here to help!  610-212-6679, stephanie@accessguidance.com

Employee Benefits and Why They Matter

The phone rings: its the hiring manager from the company where you’ve had 3 interviews.  You really, really want this job.  Its perfect for you.  The Bob from HR tells you that you  are the person he wants to hire with details to follow in an email.  A salary is mentioned; its lower that you think it should be but Bob says that the benefits will be explained in the email.  Before deciding to decline consider the value of the benefits on offer.

Here is a list of benefits.  Not all will be offered by each company.

Health Care: does it include dental and vision?  How much will it cost you each month?  Medical research has shown that 80% of illness can be traced to issues in a person’s mouth and poor dental hygiene so don’t assume its OK to skip dental check ups.  One dentist charges $175 per semi-annual cleaning and check up; insurance covers $70.

Other elements:

Disability insurance; Long term care disability insurance                                                  Flexible Medical Spending Accounts                                                                                             Sick leave                                                                                                                                           Wellness program or gym membership

Workplace Environment

Flexibility of when and where to work.  Choose your 40 hours and/or work from home part of the week.

Tuition Assistance/Student Loan Assistance

Tuition reimbursement and/or a bonus that goes directly to pay off your loans

Parents benefits

Maternity or paternity leave: is 4 weeks paid better than 112 weeks upaid?                       Paid child care or on-site child care

Annual leave/Vacation

How much time do you get off and when?

Retirement Savings Plan/401(k)

You may not be thinking of retirement now, but if you salt away pre-tax dollars now they will grow while you are working.  Companies no longer expect employees to be around for 20 years and aren’t offering many retirement savings options.  If you’re offered one, with company matching your savings, be happy!

Stock Options

The opportunity to purchase stock in your company at a low price can be a good investment.  You may be required to hold the stock for a specified amount of time. Its a good saving plan for a down payment on a house or your kids college fund.

Unique Perks

Some companies offer unusual benefits like annual lift tickets to the local ski slope or time off to volunteer.  Here’s a link to a list of the top 20 perks from glassdoor.com.  Don’t hold your breath until your company offers these, too!

https://www.glassdoor.com/blog/top-20-employee-benefits-perks.

Perks and benefits can add to your base salary.   Health care, for instance can be paid for you by your company or through a payroll deduction costing several hundred dollars a month.  Take a look at all of the elements of the package you’re offered so you have a complete picture of your compensation.

Lets talk about how to negotiate the job offer and the criteria for accepting or declining. stephanie@accessguidance.com or 610-212-6679