salary negotiations.2012 delta chi convention
DESCRIPTION
This presentation was given at the 2012 Delta Chi Convention in Pittsburgh PA on August 3, 2012.TRANSCRIPT
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SALARY NEGOTIATONS
Gauging Your Worth
& Earning What’s Fair
With Cheryl Paul, MEdFaculty Advisor, Pittsburgh ChapterDirector of Student Services, Swanson School of Engineering
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Impact of NEGOTIATING
Did Not NegotiateWorked for a Better Offer
2012 $48,000.00 8.00%2013 $51,840.00 10.00%2014 $57,024.00 15.00%2015 $65,577.60 20.00%2016 $78,693.12Salary Increased: $30,693.12
2012 $56,500.00 8.00%2013 $61,020.00 10.00%2014 $67,122.00 15.00%2015 $77,190.30 20.00%2016 $92,628.36Salary Increased: $36,128.36
What began as a $8500 difference; In 5yrs grew to a $13,935 difference!
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Framing your Baseline Expectations Today’s Job Market: Setting a Salary Goal Understanding the Cost of Living index The Art of Negotiation Consider your affiliations:
Delta Chi is more than a student group!
Questions?
Our Objectives
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1. Qualifying yourself to an employer
2. Then, negotiating for a full compensation package
Salary Negotiation take place in TWO stages:
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What is Most Important in Your Job?◦ Cash Compensation?◦ Benefits?◦ Boss?◦ Location?◦ Commute?◦ Job Security? ◦ Level of Teamwork?◦ Work Environment?
Take time for the “Pillow Test”
Are you excited about this job?
What are
your
Priorities
?
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Create a list of monthly expenses, such as:
Rent Car payments/Insurance Utility Bills (water, gas, electric) Cable and/or internet service Student Loan(s) Credit car payment(s) Groceries Gasoline Entertainment/Eating out
Total these numbers for baseline income.
Projecting Your Budget
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Benchmarking a Salary(Or, How not to get screened out of an interview)
Know your value on the market! ◦ Talk to others doing the work◦ Learn what your industry is paying currently
Develop a realistic picture:◦ Use web tools – there are lots to chose from◦ Demo: http://www.salary.com/category/salary/
Learn the ‘Power Factors’…
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Company factors Profitability Position in the business cycle (startup, growing, stable,
turnaround)
Hiring manager factors Urgency of the company's need to fill the position Decision-making authority Staffing budget
Applicant factors Technical expertise, unique knowledge/skill set Level of competition/availability of other candidates Career risk of the job offer
Power Factors: Your Advantage
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What you need to maintain your life as you know it (aka = Standard of Living)
How to be realistic…◦ http://www.payscale.com/cost-of-living-calculator/◦ Also: http://www.bestplaces.net/col/
Compare two locations◦ http://
hotpads.com/sites/rentersGuide/before/whereToLive/how-to-compare-the-cost-of-living-in-two-cities
Cost of Living
Remember: A dollar in one place is not the same in other locations!
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Look the part Maintain your composure TALK to HR! Avoid Email. Do not text. Don’t give # too early! Make them want you. So, they give you offer you don’t like…
◦“Do you mind if I share some of the research I’ve done on the job market & the cost of living?” Demonstrates your sincerity Provides concrete data to work from
Negotiating: It is WHAT you KNOW & HOW it is conveyed
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Talking is preferable to written communication. Use some reason having to do with your personal
scheduling or something else… Spoke too soon? Sample explanation to HR rep:
"I have a heavy schedule of traveling in the next few days, I wanted to leave with you my availability because I'd be willing to reschedule any of that in order to get my 2nd interview. By the way, I was a little worried that I might come in outside the range you were thinking of for this position. Because of my background and experience and my fondness for the types of people you care for, I want to make sure you have everything you need in my full cooperation to set up a 2nd interview."
A Word on Sharing Salary Numbers
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Excellent Communication Skills Leadership Respect for Diversity Organization/Program Planning Record Keeping/Documentation Fiscal Management/Responsibility
Typical Job CompetenciesIntersect with Nearly Every Level of Fraternal Experiences
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Why? Clearly qualify yourself to position.
When? At times when your discussion is driven to increase a result.
How? Recognize offer, verbally express gratitude, humbly point out the skills you bring to position.
Using Your Delta Chi Up AffiliationCorrelate skills gained with job competencies
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Follow these steps & you’ll likely have multiple offers!
Compare the opportunities via:http://swz.salary.com/JobAssessor/LayoutScripts/Joel_JobCriteria.aspx
Feel More Prepared?
GOOD LUCK!
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QUESTIONS?