We’ve spoken a bit in the past about what it’s like to negotiate an offer, and when there are or aren’t appropriate times to do so. But this begs the question, what components of your offer are up for discussion? Does negotiation go beyond solely focusing on your salary? The answer is yes! And we’re here to teach you about all aspects of your offer to focus on prior to entering the negotiation phase…
Offer Negotiation Focus Points:
- Salary Increase: First and foremost, salary is a point of conversation through which to negotiate a higher compensation, and often a first go-to for candidates. For that reason, make sure to conduct research to be able to compare the salary you would be provided with the rest of your industry or candidates with your same experience. Approaching the conversation having conducted background research and with preparation is the best way to be taken seriously and considered for a “yes.”
- Pursuit of Education: If pursuing a higher-education degree (such as a Master’s program) is an integral component of your professional future, having these expenses either partially or majorly covered by your employer is a fantastic weigh to negotiate benefits as well as accelerate your professional career and profile.
- Sign-on Bonus: Sign-on bonuses may be tightly linked with your overall salary compensation, or are measured on the basis of your need for relocation or other resources to get started in the new position. For this reason, sign-on bonuses may be a negotiable part of your offer. So, come prepared with reasoning as to why you need more resources to become your most prepared self and ready for the first day on the job.
- PTO: The famous acronym we all know and love, “Paid Time Off.” Your days of PTO may be linked to your experience at a company, your position in the hierarchy, or your specific role and its associated responsibilities. If salary negotiations are not up for discussion, focusing on PTO may be a great way to increase your compensation through another route.
- Hour Flexibility: Especially for us students and with part-time positions, flexibility relating to your weekly, daily, or monthly hour count in a position may be crucial to our ability to accept a role. So, be transparent with your hiring manager as to what your hourly expectations are, which schedule you prefer, and if there is a way to reach a middle ground so that you can be best suited for success.
- Extra Aspects to be Aware of: Make sure to look into 401K matching or participation programs, opportunities for growth and promotion, parking permits or commute incentives, etc.!
When looking into your first or any job offer, it is crucial to weigh all aspects that play into your overall compensation. Make sure to avoid having tunnel vision on your salary and be creative in justifying why you are the best candidate for the role and have the exact experience to justify the “why.”
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