Salary Information: What Are You Worth?
Starting Salary Figures
Most people want some idea of what their starting salary should be. A salary for a single job title may vary considerably by program of study and type of employer. The offer may depend upon your prior professional experiences, degree level, GPA, leadership activities, and the employer’s internal salary range or schedule. You can research starting salaries using the following resources: • US Department of Labor Salary Statistics http://www.flcdatacenter.com/OesWizardStep2.aspx?stateName=Wisconsin • Salary.com • Additional salary calculators available at: http://www.uwrf.edu/ccs/salary-calculators.htm
Dealing with an Employer’s Request for a Salary Requirement
Occasionally, an employer may ask you to give a salary range. This question is typically asked of experienced people with a salary history. For a student being hired directly out of an undergraduate or a graduate program, the question may seem awkward because many new graduates have not had a salary in previous jobs, but were hourly employees. There are a number of ways to approach the problem outlining your salary requirements: • It is perfectly acceptable to say “negotiable” on applications or cover letters. • You may choose to suggest a range to the employer. If you do, make sure to do your research first! Also, tell the employer the sources of information on which you based your request (i.e. US Department of Labor Statistics, or cost of living index for the employment location). If you ask for a salary well above average, explain your request. Stating why your background and experience qualifies you will show that you have the ability to perform at the same level as others earning that salary.
Responding to a Salary Offer: Is It Negotiable?
If an employer makes you a salary offer, and you are interested in the position, but believe you may have a basis to request a higher salary, do the following: 1. Base your argument on facts. Consider: • Another higher salary offer you have received. • Comparison of the salaries relative to cost of living (See the Salary Cost of Living Calculator, available through Career Services’ web site under “Research Salaries” at http://www.uwrf.edu/ccs/salary-calculators.htm. This enables you to compare salaries in different geographic locations). • Research on the salary ranges and averages for your field (See salary information in Career Services). • Your own background and qualifications. If you are asking for an above average salary, are you above average in your credentials?
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2. If you have a strong argument to ask for a higher salary than was offered, you may do the following: • Ask the employer, in a tactful and diplomatic way, if their salary offer is open to negotiation. • Make sure you convey to the employer that you are truly interested in the job you have been offered. Don’t sound as though you are just shopping for the best salary. • If the employer says no, accept the answer gracefully. You can weigh the option you have. • If the employer indicates the salary offer might be open to negotiation, or asks you why you are asking, you can present your argument. • Be prepared for the possibility that the employer still may not change the salary offer. Be sure to present your argument tactfully, so that if the employer does not change the salary offer, you can still accept the original salary offer if you so choose.
Inside Scoop on Evaluating Your Offer
Congratulations! You’ve successfully managed your second interviews and have been offered a job! Perhaps you have even received offers from more than one employer. Whether it is one offer or more, you may be wondering, “Is this the ‘right’ job for me?” or “Am I going to be happy in this job, period?” Careful evaluation of your job offer and some serious thought as to how well the position and the organization meet your needs can enable you to make the best choice for yourself. In evaluating your job offer, there are three critical questions you should address: 1. How closely does the offer match your career goal? Think back to when you started your job search. What was important to you? What factors regarding a job, organization, and work environment were on your “wish list?” Have they changed? How well does this position fit these factors? On the next page are some factors you may want to consider in evaluating your offer. Some of these may not be important to you, and there may be factors not listed which are extremely important to your decision. 2. Do you need additional information about the offer, company, or job in order to make a decision? It is not unusual to discover, as you’re weighing different factors about the offer that you have additional questions, lack some factual data, or simply need a better sense of what the job and organization are like. If this is the case, STOP! Don’t go any further in your deliberations until you address these issues. You may need to call one of your interviewers and ask additional questions, or contact an alum who works for the organization. If you need a better understanding of what it would be like during a day on the job, call the employer (if they are local) and ask to spend an afternoon observing an entry level employee in the job you’re considering. Most employers will be willing to accommodate you. If you have other questions or concerns that impact your decision, you should set up an appointment with someone in Career Services. 3. Are there issues you may want to negotiate, which would bring the offer closer to your goal? Perhaps the issues that concern you about the offer can be changed if the job seems ideal. Some other areas you may be able to negotiate include signing bonus, moving expenses, or start date.
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Factors for Consideration
Job Related • Nature of work • Organizational culture • Level of authority • Travel • Salary • Mentoring • Lifestyles of employees • Management • Support of continuing education • Cost of living • Cultural opportunities • Educational opportunities Level of responsibility Work hours Benefits Variety of work Stability of industry and organization Advancement opportunities Training and development Transferability of skills/experience from job Prestige of job or organization Community environment Geographic location Entertainment
Managing Multiple Job Offers
Have more than one job offer? How do you choose which job is right for you? First, start by developing a “proand-con” list for each job. Make sure the list is all-inclusive. Think about the features of each, such as salary, benefits, corporate culture, commuting time, flexible work arrangements, tuition reimbursement, and on-the-job training opportunities, etc. Then determine what is really important to you. For some recent graduates, educational assistance is important because they may plan to seek additional higher educational degrees. Don’t accept an offer solely because it has better pay and benefits. Accept the job where you feel comfortable working in the environment. Money may not be enough to keep you around a year from now if you dislike the environment. If you are weighing offers that are fairly equal, use your gut feeling, look at your priorities and ask what is truly important to you.
Never Burn Your Bridges
Keep in mind the importance of diplomacy when rejecting an offer, because in today’s fast-paced world, you never know when your work environment may shift or when your job may be eliminated. Here is an example for diplomatically declining an offer: “I really appreciate the offer; however, I have been offered another position that I feel will better fit my goals at this time. I really want to say how impressed I am with your company and how much I’ve enjoyed everyone I have had the opportunity to meet.
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