Black Collegian Career Center

The news just arrived: the job you applied for is yours. You are so excited that you can hardly contain your joy, now that your career is about to fall into place. The many hours you spent job searching and interviewing have paid off. To your added surprise, this job means working not only in the position you want, but also with the company you ranked as your first choice. You are tempted to say yes immediately, but you know that you need to take your head out of the clouds and keep your feet on the ground. Accepting a job offer is a major decision. Before you telephone the recruiter, examine the offer. Make certain that you dot all of the i's and cross all the t's before you accept the offer.

Just what is important in evaluating a job offer, you ask? The salary? The benefits? The job itself? These are all good aspects of a job offer to examine. This article will give you some guidelines to help you evaluate your job offer.

First of all, resist accepting an offer on the spot, no matter how good it seems. Always ask for time to think it over. Most employers will not withdraw an offer because you request time to think it over. In addition to reviewing the offer with your family or significant other, a give me some time to think it over strategy might provide you with an opportunity to negotiate a better financial package. However, when negotiating, remember to show enthusiasm about everything: the job, your future employer and the career opportunity.

Second, many job seekers view job negotiations simply as a matter of coming to terms on the salary an employer offers. This is not the case, however. A number of other important factors can be negotiated as well, depending on the company and the job. A list of items that you can negotiate, depending on the employer and the specific level of the position, are included at the end of this article. Remember, any negotiations you have in mind should be opened only after you are certain that the employer is indeed making you a firm job offer and, therefore, is definitely interested in your joining the company.

Third, because most people are concerned with salary when evaluating a job offer, do not be ashamed of putting money high on your priority list. You should be concerned with immediate and potential opportunities for improving your standard of living. In today's economy you will want to make certain that your salary fits the standard of living you envision. However, keep in mind that in today's job market, it is not always possible to land at the exact salary you want. As crucial as salary is, there are other considerations equally important, if not more so. These include scope of the job and responsibility, degree of autonomy, the challenge the job offers, as well as the employer and the opportunities for growth. Do not ignore or underrate any of these factors!

It should not surprise you that there are no set rules about the right way to negotiate salary. Too many variables exist in terms of the job market, the particular position and company, as well as your background and skills. Carefully consider your finances: how much you would like to earn, need to earn, the opportunity the position presents and the potential for raises and career progression within the company. Rely on your own judgment to consider the variables of your own financial circumstances. Then determine what you need to do during the negotiation to obtain a salary that fits your qualifications and the employer's range. Many companies that use a range will want to bring you in at or below the midpoint of that range or salary band. Although you want to achieve the highest possible salary, you want to be realistic about what the company can offer and how that fits your needs.

Before you begin the negotiation process, research the marketplace and salary range for a person with your background and experience. Your best resource for information on salary is the Placement Office or the Career Development Center on your campus. Take your direction from the employer as to whether the salary offer is flexible or firm, with no room for movement. If you cannot negotiate the present, concentrate on the future, such as a review in six months, a better title, or an automatic increase after 12 months.

In addition to salary there are some non-cash compensation issues that you should consider when evaluating your job offer. They are listed here. If your future employer agrees to pay or reimburse you for any of these expenses, your financial situation is improved. Do not try to run through this entire list with a prospective employer. If you can secure benefit brochures and other company materials, review them. Then be prepared to ask questions to determine what information you need on different programs. Afterwards, you will have a better idea of which of these are most important to you as you include them in your decision-making process. These non-cash items include the following:

Vacation

• Schedule for subsequent years
• Compensation for unused days
• Supplemental vacation, if any 
• Bereavement Leave, number of days the first year

Paid Holidays

• Number per year 
• Flexibility of usage
• Personal days
• Compensation for unused days
• Carry-over or accrual provisions

Automobile/Automobile Expenses 

• Company car (make/model, frequency of turnover, personal use, charges for personal use, shared by others, gas and upkeep responsibility)
• Automobile allowance in lieu of company car (flat amount or mileage basis; tax implications and offsets)
• Other company-paid for support commutation cost programs such as a commuter van program (practical dollar value in pre-tax dollars)
• Company provided or paid parking

Expense Accounts

• Floating allowance basis
• Reimbursement basis

Company Paid Discount Program

• Non-company consumer product discount or plus programs cafeteria or dining room
• Meals fully paid or support
• Value in pre-tax dollars

Air Travel
Club Membership or Dues

• Golf/tennis/health or athletic clubs
• Company operated country or sports clubs, gym
• Facilities available to families

Professional/Trade Association Memberships or Dues

• Certification or license costs reimbursed
• Costs of participation in association meetings or programs

Educational Assistance Programs

• Percent of actual costs reimbursed
• Ceiling
• Work-related only or other limitations

Employee Assistance Programs

• Counseling for employee
• Counseling for family
• Substance abuse, financial problems, and so forth

Company Paid Professional Assistance Programs

• Income tax filing
• Financial investment planning
• Legal
• Other

Health and Life Insurance Programs

• Accidental Death or Dismemberment Insurance 
• Accidental Travel insurance in addition to Life Insurance and Accidental Death

In addition to the above non-cash items, the following are areas which may be negotiated:

• Starting date
• Vacations
• Decision-making authority
• Support, budget and resources
• Reporting relationships
• Insurance and pension benefits
• Release time
• Stock options
• Bonus arrangements
• Title
• Starting Bonus

Though it is highly unlikely that you will be able to negotiate successfully on all of the above items, the extent to which you can is generally determined by the nature and level of the job and by the hiring policies of the company.

Now that you are close to having made your job campaign successful , you must not do anything that might compromise your offer. Here are some final tips to help you seal the deal.

• Agree on a decision date and be sure to give your answer by that date. 
• If possible, try to get the employer to put it in writing.
• Be certain that no contingencies remain up in the air. For example, have all reference and security checks been made? Have you passed the medical examination and drug tests?
• Do not sound your trumpet about your new employment until you are truly on board.
• Once you have started your new job, write or call the people with whom you negotiated to thank them for their time and interest.
• Thank the many people who helped you during your job search. You can never tell when you might need them again.

If you cannot agree with the terms or accept the job from the company you have negotiated with extensively, be sure to sign off pleasantly. If the lack of agreement was over some condition of employment like salary, the company is likely to keep your resume for review later. Keeping your options open is a key to obtaining success.

In closing, once you receive a job offer verbally, to negotiate effectively you need to do the following:

1. Ask questions during the interview in order to gather as much information as possible to effectively evaluate the job and the compensation package (salary plus non-cash benefits).
2. Once you have all the information you need, ask for time to consider the offer.
3. Evaluate the offer by comparing it to your job preferences and career goals.
4. Negotiate both the job and the compensation package, if possible.
5. Get the agreed-upon offer in writing before notifying anyone of your new position.
6. If you cannot agree, sign off pleasantly.

ITEMS THAT MAY BE NEGOTIATED IN CONSIDERING A JOB OFFER

(Mark A, B, or C next to relevant items to indicate your negotiating priorities.)

Compensation:

• Base Salary
• Sales Commissions
• Bonuses (Sign on, Performance/Incen-tive)
• Money in Place of Benefits

Benefits:

• Personal Days
• Extra Vacation
• Insurance Programs
• Medical
• Dental
• Life
• Long-Term Disability

Financial Programs:

• Deferred Compensation
• Stock Options
• Corporate Performance Participation Plan
• Company Paid Pension
• Immediate Vesting of Pension Accrual
• Matching Investment/Profit Sharing Programs
• Thrift Plan

Educational Programs:

• Tuition Reimbursement
• Executive Development
• Education/Training Expenses
• Professional Association Memberships
• Subscriptions

Prerequisites:

• Expense Accounts
• Company Car
• Liberal Gas Allowance
• Free Lunches

Severance Provisions:

• Outplacement Service
• Severance Settlement

Relocation Costs:

• House Hunting Trips for Family & Self
• Moving Costs (direct or percentage)
• Travel
• Temporary Housing
• Getting-Settled Expenses (e.g., new vertical blinds)
• Higher Living Cost Subsidy
• Realty Fees, Legal and Closing Costs
• Higher Mortgage Cost Allowance
• Bridge Loan
• Low-interest Loan

Spouse Relocation Services:

• Outplacement Assistance for Spouses
• Relocation Assistance for Spouses

Status and Lifestyle:

• Club Memberships
• Health - Lunch - Private Dining- Frequent Flyer-Private Dining
• Larger, Better Office
• Reserved Parking (company paid)

Employee Services:

• Annual physical exam
• Legal, tax, financial assistance
• Loans
• Discounts on Purchases
• Computer Equipment