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Compensation

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					Employment Offer

       &

 Compensation
Employment Offer
                        Questions to consider

Does the organization’s business or activity match your own interests and beliefs?

How will the size of the organization affect you?

Should you work for a relatively new organization or one that is well established?

Where is the job located?

Are you comfortable with the hours?

How long do most people who enter this job stay with the company?

Opportunities offered by employers.


          Not Sure????...Complete a Work Satisfaction Checklist
                                  STCF CARE ministry 2009
Employment Offer
           Salary History Vs. Salary Requirements


  Salary History - When employers request your salary
  history, they want to know the salary you have earned for
  each employer listed on your resume, especially your last
  position.

  Salary Requirement - When employers request your
  salary requirement, they want to know what salary
  you will accept if you are offered the job for which
  you're applying.


                        STCF CARE ministry 2009
Employment Offer
               Salary Vs. Compensation

 Salary – Wages or other monetary designation tied to a
 position.
          Determined by market demands

          Corporate survey data


 Compensation – In addition to wages, other
 monetary and non monetary items are considered.

          Determined by company data

          Corporate survey data
                        STCF CARE ministry 2009
Employment Offer
  Issues related to identifying Salary


         May keep compensation the same as you
        are currently earning or in some cases may
        lower salary

         May drop you from consideration

         May keep you underpaid because of your
        salary history (what you earned in past
        positions)

                        STCF CARE ministry 2009
 Compensation
                       Components of Compensation
Salary and wages – are usually the single largest component of a compensation
package

Bonuses - Single lump at the end of the year or from profit-sharing plans

Long-term incentives - Stock options or stock grants (ISO,NSO)
Medical insurance - Employer sponsored or shared cost; possibility of options
(HMO/PPO/Traditional)

Life and/or disability insurance - For self/ or for dependants (life ins); Limits
up to 10X salary; Cost is usually less with employer but beware!

Retirement plans - 401K, 403B, Pension. Different levels-various options. Usually
employee-directed with company selected fund companies

PTO-Paid Time Off- Holidays, vacations, sick days and personal days; Rules vary
                                STCF CARE ministry 2009
by employer
 Compensation
                       Components of Compensation
Flex Time – Ability to work flexible schedules (hours or days); different from
comp time – usually only government allowed.

Alternative Work Locations – Ability to work remotely or from home

EAP-Employee Assistance Programs - Employer sponsored/provided; including:
counseling, legal assistance, work/life assistance, & company arranged services
(financial services, banks/credit unions)

Education Assistance – Reimbursement for continuing education; may be related to
the type of employment or the position you have; there are federal limits.

Miscellaneous – Company car; expense accounts or reimbursements; other medical related
benefits (vision, FSA); TAI; PAI; transit reimbursement; relocation expenses; professional
expenses; ergo-friendly environment; personal care and fitness; childcare; discounts to area
attractions or businesses.
                                    STCF CARE ministry 2009
 Compensation
                              Negotiation
Before the Interview – Determine your market worth; know what the
market pays and set a bottom line amount.
       DO NOT negotiate salary until a job offer has been made.

 Negotiate on the basis of your qualifications, your education, experience,
skills, and capabilities in relation to their worth in the job market; NOT on
the basis of your wants or needs.

 Some salary scales are non-negotiable, especially in the non-profit
and public sectors.

 When asked to name a figure, you may be asked to give your last salary.

 Sometimes waiting out the silence is your best ploy.

 Be ready to give your arguments. ministry 2009
                             STCF CARE
 Compensation
                              Final Offer
If the employer completely balks at the figure you name, ask what
he/she had in mind. You may have been way off base.
 If you cannot get the salary you want, inquire as to what is negotiable
     (related to other benefits; i.e. paid time off, flexible schedule).
 The "final offer" should come from the employer, not you. It is your role
to find areas of mutual agreement.
 Do not accept a job offer with the idea that if a better job offer
comes along, you will just "back out" on the first offer.
 Make your acceptance or decline of the job offer by telephone
conversation but ask for written confirmation.
 Once you have accepted a job offer, write/call those employers who
are still considering your application and inform them that you are
                                 STCF CARE ministry 2009
withdrawing.
Compensation
  Employment Offer/ Compensation Tips
    Know your position.
    Everything counts.
    Know what you are worth and value.
    Identify all of your interests.
    Set a clear goal/walk away price.
    Never volunteer your salary history.
    Have the employer state a salary.
    Don't Underestimate the Value of
   Happiness.
                     STCF CARE ministry 2009

				
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