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Negotiation
The art of negotiating is the process of pursuing a goal in a dialogue with another person or persons. Its resolution is one in which all involved should feel satisfied. Negotiating should not be an adversarial process, but a win-win situation for both parties. Before beginning any negotiation:
- Do your research and be organized, know what you want, and be realistic. Be knowledgeable about non-salary forms of compensation including relocation reimbursement, early reviews with the option for a salary increase, signing bonus, and vacation leave. Consider these factors as part of the total package.
- Assesses the current business climate. What is the state of the economy and the industry? What is the current employment picture and the unemployment rate? What is the current demand in the job market for your expertise? How urgent is the need to fill the position? What is the employer’s internal flexibility to adjust salary levels?
- Know yourself and your needs. Know your monthly expenses, understand your priorities and know the cost of living index for the area in which you will be living.
- Research current salaries and benefits. Find average salary figures for your field by using the NACE Salary Calculator, Glassdoor.com, or Payscale.com. In order to negotiate a strong offer, you have to know the market. Approach salary conversations with your potential employer based on objective and researched information to strengthen your position. Think about the entire compensation package including salary, relocation, health plan, tuition reimbursement, and flex time.
When discussing salary expectations, you need to understand exactly what is expected of you and how your performance will be measured. Consider all factors. If the salary and benefits package offered does not meet your personal needs or is not competitive with similar positions you have researched, politely explain this to the employer and ask that the offer be reviewed. Bear in mind that salary negotiation is an ongoing process.
Acceptance letters or emails generally follow a phone conversation or written job offer. They allow you to confirm the details of your new job, such as base salary and start date. Acceptance letters basically formally acknowledge in writing your acceptance of the job and clarify your understanding of the job offer including salary, job title, relocation, and details of the position.
Once you and the employer agree to the terms of your employment, you are obligated to stand by your acceptance of the offer. You should strive to maintain a high standard of ethics throughout your professional life and maintaining your commitment to an accepted employment offer will certainly demonstrate your personal ethical standards.
Learn more
For more in-depth information, explore the following Career Steps online lesson:
The hiring process: Negotiating and accepting an offer