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I. Before You Begin Your Journey
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The primary aim of the interview is to get the job offer, because without it you do not have an opportunity to negotiate. Once the offer is extended then it is your chance to negotiate. The best possible outcome for negotiations is for both parties to feel satisfied that they got a good deal --- a win-win outcome.
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NOVA offers a workshop entitled Negotiating the Offer (for WIA-enrolled clients). Call 408.730.7232 for more information or see workshops. |
- Know your bottom line --- It is to your advantage to work out your household needs before accepting a job offer. This is not a figure you should discuss with a potential employer but it is important information that will lead you to getting what you need. Base your bottom line on a salary analysis of your profession and on the lifestyle costs of the area in which you live or wish to live. On-line salary calculators can aid you in this.
- Know what your skills are worth in the current market (salary range in the industry and for that size company or when possible for that particular company) --- good resources include headhunters, professional journals that publish annual salary surveys, and The National Business Employment Weekly (magazine published by the Wall Street Journal).
- Negotiating power depends greatly on your knowledge of the situation --- awareness of the employer's needs, company policies, and attitudes. Listen carefully for clues during your interviews.
- Be aware of factors that may affect your negotiating power --- bargaining power is greater when a position is newly created; when it's an upper level executive position; when your skills are unique and ideally suited to the employer's needs; when you have multiple offers; when there are no other candidates; and when time is of the essence.
Base salary is the most important factor for both parties.
- Once an offer is made, set the stage for negotiation --- a give and take process. Silently consider the offer allowing seconds to pass. This may feel uncomfortable to you but be sure that the interviewer is also uncomfortable, placing slight pressure on the interviewer to reevaluate the offer.
- Before discussing the offer or the salary range be sure to confirm the responsibilities you would be taking on and how you will be able to contribute.
- Do not commit too soon. Allow yourself time to consider the offer "overnight." This also gives the employer time to consider other areas of benefit to you.
- If bonuses are a component of your package you need to explore how they will be determined and the range of magnitude based on history and current profit trends. Also, if based on your own performance know what opportunity, resources and limitations you will have.
- Explore how and when all compensation matters are reviewed and decided --- both salary and bonuses.
- Understand the entire package offered prior to evaluating your negotiating position.
profit-sharing company-paid pension stock options life insurance moving expenses club memberships company car financial & legal counsel accelerated reviews increased vacation time deferred compensation severance guarantee
Negotiating Skills
• Willingness To Endure: Impatience could lead to reaching a conclusion too quickly not allowing time to discuss, ponder and adjust viewpoints.
• Reading For Information: Be sensitive to others' reactions and feelings. This can be valuable information.
• Speak With Conviction: Reiterate how your strengths and background relate directly to the job responsibilities.
• Composure: Your ability to stay calm and unruffled. Be sure your "cool" will be tested.
• Perseverance: Especially if your target company is moving slowly, find ways to express your continuing interest. If other offers are materializing, gently let that employer know. Express your interest; it is not a sign of weakness.
Negotiate your way to a super salary! Put yourself in a position of strength by arming yourself with the latest statistics on salary ranges in your field.
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