What is Negotiation?

Negotiation is an arrangement or agreement made between you and an employer. It provided an opportunity for you and the employer to speak openly about aspects of the offer and benefits package.

It is only appropriate to begin negotiation once you have a formal written job offer. Once you have received the formal offer, you should take the time to review it in depth and understand all aspects of the complete offer. This includes not only the monetary aspects of the offer, but also the start date, benefits (insurance, 401K, stock, etc), vacation/holidays, relocation package (if provided), training, and any other details.

Before you begin a negotiation it is important for you to do your research.

It is important for you to know your market value and benchmark that data. How much salary should someone in a similar position with similar experience expect to receive based on job title and location?

In addition to your market value, determine a list of your needs beyond salary. What are some needs you may have? For example, is it important for you to have: vacation, reimbursement for relocation, professional development, flex time, or to negotiate a start date? Determine which needs are important to you and don’t feel limited by this list.

Online Salary Information

• JobWeb Salary Information - Starting salary and job market information
• Occupational Outlook Handbook - A searchable guide created by the United States Bureau of Labor Statistics that provides data on more than two hundred occupations. Information on each occupation includes: salary ranges, education and training requirements, and employment outlook.
• The Riley Guide: Salary and Compensation Information - Provides information on general salary surveys, location or industry-specific salary guides, evaluating salary information, executive compensation, and stock options.
• Salary.com - Contains information on salaries and benefits. Also includes a salary wizard to calculate your worth based on field/industry and geographic location.
• JobSmart Salary Info - Profession-specific salary surveys from a leader in this area. Information useful to know if you are choosing a career, hunting for a job, or interviewing for a position.