Black Collegian Career Center

You were certainly on top of your game when you went to class having done the necessary preparation the night before. The same is true when it comes to receiving and negotiating job offers. There is a wealth of information right at our fingertips that will help you get prepared to navigate your way through a job offer.

The Bureau of Labor Statistics' Web site, http://stats.bls.gov, is a good place to start. The site offers information on positions by state, listing the average salary being paid per position. Also the Occupational Outlook Handbook published by the U.S. Department of Labor is an excellent source for researching positions and related wages. You can also use your campus Office of Career Services for current salary information. The office usually compiles information on what salaries certain positions demand and offers made specifically to recent graduates of the university. For help in negotiating offers, check out In Search of the Perfect Job, 12 Proven Steps for Getting the Job You Really Want, by Clyde Lowstuter and David P. Robertson. Friends, who have already received offers and/or accepted similar positions, are another good source of information.

Let's say you've received an anticipated offer. Congratulations! First, you should ask that the offer be sent to you in writing and find out when the company will need your decision. Getting the offer in writing eliminates any confusion that may occur, say for instance if the person making the offer were to be transferred. The second thing to do is to evaluate the offer. If you have received multiple offers, you may want to capture them in a matrix format for comparison of salary, benefits, and location. Some things you should consider when evaluating an offer are geography, your personal academic track record, and the type of position being offered.

It’s a known fact that certain parts of the country demand higher wages than others, simply due to differences in the cost of living. An entry-level accountant will likely be offered more in San Francisco than one in Little Rock. On the flip side, some corporations set professional wages based on national versus regional averages. This allows for frequent transfers of personnel to various assignments across the country without the constant need for salary adjustments. It would be appropriate to ask about the company’s pay philosophy during the interview.

Most employers will be interested in your college transcript. Why review a college transcript? Past performance/behavior is a good indicator of future performance, therefore, the importance of the transcript. If you are a high achiever academically, you’re likely to be a high achiever in the workplace. For this reason, some companies will offer heftier salaries to those candidates with higher grade point averages. So, you should be realistic when considering your past performance as it relates to an offer.

Currently high-tech professionals are in great demand, therefore creating a need in the marketplace. The demand for high-tech professionals has currently exceeded their availability, therefore placing a higher value on those who can fill these positions. If you’re a business professional, it would be unrealistic to expect the same starting salary as an information technology professional. The demand for a particular expertise helps determine salaries being offered in the marketplace.

To determine an offer’s geographic worth, check out the relocation guide on IMDIVERSITY.COM at www.imdiversity.com. This will prove to be a beneficial resource. You should also consider and inquire as to promotional opportunities, frequency of salary and performance reviews, along with what level the position constitutes within the organization. It is appropriate to ask these questions at the time the verbal offer is made.

Another important point to consider is career development. Most people can prepare to be in the workforce for about 30 to 35 years. In order to become more valuable as a professional, over time you will need to be given challenging opportunities as well as adequate training. Make sure you understand what professional development options come along with your new job and what level of training will be made available. You want to be sure to keep your skill level current as to maintain your competitive edge within your organization as well as without. After all, you can’t expect to be promoted, if you’re not on top of your game.

A lot of companies now are implementing diversity programs as part of their competitive strategy. Aggressive corporations realize in order to attract the best and brightest prospective employees, they need to consider all segments of the population. Generally, a company with a strong diversity program in place is committed to fair and equitable treatment of employees, and looks for opportunities to include those who may not have been included in the past. Some new graduates use this as criteria for screening potential employers.

Other Things to Consider

Most new college graduates totally overlook benefits when considering a job offer. Base salary plus benefits make up what’s called a total compensation package. It is important to consider such questions when reviewing benefits described as follows:

• Health/Dental/Vision Insurance: How much will each of these cost? Am I covered my first day of employment or do I have a waiting period? Will I be able to add family in the future? Are the benefits standard or do I get to choose those that I want (cafeteria plan)?

• 401K Options: Does the company offer any matching funds and if so, what is the percentage? How soon can I join? How much of my money am I allowed to put in?

• Stock options: What is the discount applied to my purchases of company stock? Am I allowed to buy and to sell? Will a commission fee be involved?

• Life insurance: Is this benefit company paid? Am I allowed to buy extra coverage, and if so, at what cost? Will I be able to purchase dependent coverage in the future?

• Vacation: How many days of vacation do I get immediately? When am I eligible for more? Does the company allow vacation to be carried over into the next year? Can I sell my unused vacation? Are there rules covering when I can take my vacation?

• Tuition Reimbursement: If I want to work on my master’s, will the company cover it? How long do I have to be employed before I’m eligible to receive this benefit? Am I allowed to go to any school of my choice?

• Relocation Reimbursement: Will the company cover my relocation expenses? What things will I have to pay for? Will I be offered assistance in locating an apartment?

There are plenty of other benefits that should also be considered. It would be helpful to discuss benefits with someone you trust.

What constitutes a "good" offer? It’s an offer that provides you with the base salary you expected, a great benefits package, and challenging career opportunities offering you professional growth for many years to come. If you receive an offer that’s acceptable to you, by all means take it. At the same time, if there are other items you would like to negotiate, you should mention them after having accepted the offer. This will allow you to "seal the deal" while at the same time giving you some leverage to negotiate further. If you are fortunate enough to receive more than one offer, try negotiating response times that will allow you to consider all offers together. It is not uncommon for companies to go as far as to inquire about other companies you’ve interviewed with and specific offers made. Feel free to respond if asked. This information can be used as leverage if you are hoping to boost a current offer, or if you have not yet received an offer from a company high on your list. Once most aggressive corporations learn that others are seeking one of their candidates, it’s usually enough to lend some urgency to employment decisions not yet made.

On the other hand, if you receive an offer that is not acceptable and you really are interested in the company and the position, you’ll have to regroup. You can initiate a counter offer by informing the company that the offer is unacceptable. Please be advised, however, that if you do this, you are putting this offer at risk and you must be willing to accept whatever consequences may result. One consequence could be that the company withdraws its original offer and extends no other offer in its place. Factors that can make an offer a "bad" one include things such as low salary, limited vacation time, minimal career development, an undesirable location, etc. You must also be willing to tell the company why you find the offer unacceptable and offer what you feel would be a reasonable adjustment to make the offer acceptable to you.

Once you've accepted that perfect offer, you have officially joined the ranks of the employed. You should be sure to tie up any outstanding responses to other companies and let them know that you are officially withdrawing your name from further consideration. You should also be very sure about your choice since companies begin to prepare for a new employee's arrival sometimes weeks before the actual event. You must be willing to follow through on your decision and take the job you have accepted. You will also want to establish a report-to-work date and begin any relocation efforts that are needed. You're now on the road to success. Remember the key to landing the ultimate job is not only in the interview. Your ability to negotiate the perfect salary offer and/or total compensation package is critical to your total career success and satisfaction. With a little preparation, you can be prepared to negotiate your way to the top.

Portia Ballard Espy is the manager of Human Resources for Entergy in Jackson, MS.