Negotiation Focus Points:
- Salary Increase: First and foremost, salary is a point of conversation through which to negotiate a higher compensation, and is 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 the 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.
- Hours: Especially for 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.
- Hybrid environment: As we transition back to work in person, it’s essential to know your optimal work environment. Do you prefer WFH? Go into the office every day? Some days? Make sure to clarify the expectations of the company to measure against your own.
- 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.!
Remember, the above attributes of an offer letter are not the end all be all of how you will feel waking up for work every morning. Measuring the importance of location, collaboration, room for growth, team dynamic, and CULTURE are equally as valuable to your overall sense of fulfillment and contentment in your role. Follow whatever path makes you feel most confident and secure in your career and you are bound to reach success wherever you go.
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