Negotiating Your Salary/Compensation Package
Salary negotiation is the last step in the job search process. Generally, salary is determined by several criteria: your education, experience, previous offers, salary history, and the organization's needs. When your position is one that generates revenue, the amount of revenue it generates is often a factor in determining the salary as well.
In some cases, a salary figure may be offered early in the interviewing process; in others, a firm financial policy may exist for new employees. You may only be able to accept or reject the job and salary offer. More frequently, however, you will have an opportunity to negotiate a salary. Your knowledge of competitive salaries in the field can be a real advantage to you.
A comprehensive discussion of compensation and benefits includes:
- Compensation: salary and when appropriate, commissions
- When and how work is evaluated (timing of performance appraisals and standards used to determine salary increases and bonuses)
- Health, retirement, and life insurance benefits
- Vacation, paid holidays, and sick time
- Administrative support: support staff, office, orientation and training, resources such as consultants, computer hardware and software
- Professional development: continuing education and training (e.g., tuition allowances, membership in professional associations, travel to conferences)
- Miscellaneous: expense account, clubs, moving/relocation costs
- Job-related expenses (If an employer cannot offer you a salary which meets your requirements, she or he may be able to offset some or all of the difference by covering job-related expenses that are usually absorbed by the employee.)
Research to determine the starting salary range for the position. You may be able to obtain specific information by calling the Human Resources Department and inquiring about the job grade and associated salary range. Explore CWS recommended resources for job market, geographic information and salaries.