For this assignment, you will select prepare to negotiate the salary offer or an actual job posting of your choice. You will need to make some calculations for your cost of living and expenses to determine what you need in terms of your income. You will also need to research salaries based on this job title and specific education level and geographic locations. You will use this information to imagine evaluating an offer for the position. You must determine what is or is not negotiable, and you must evaluate what is or is not important to you (what are your deal breakers?). You will write a negotiation plan outlining the steps you would take and specifically what you would say to the employer to negotiate the job offer.
This assignment consists of 4 sections with short response questions.
1) Write a value statement
A value statement is your way of expressing an evidence-based statement to support your target salary. This might be used when asked about your desired salary, when counter-offering a salary offer, or when requesting a promotion or raise. A value statement will be particularly important because you want the employer to see the contributions you will make to the organization. You will always begin by expressing a value you give to an organization or evidence of your worth prior to mentioning any numbers.
Your statements should reflect everything you have to offer. Be sure to keep a journal of all your accomplishments throughout the year, no matter how big or small, to help you create or update your value statements.
To complete a value statement, you need the three components described below.
Accomplishments or something you contributed to: ____________
Skills or what helped make your accomplishment a reality: _________
Results and how the results benefitted your organization or company: ________
Create three value statements by filling in the blanks:
I accomplished ______________ by using _____________, and as a result __________________________
I accomplished ______________ by using _____________, and as a result __________________________
I accomplished ______________ by using _____________, and as a result __________________________
2) Research salary
Select a real job posting that you are interested in. Go to the USF Career Coach website Links to an external site. to view the current Florida region salary data for a position. You can type the position title into the search or search by careers (select a field/industry). You can also research salaries for similar positions in your area using tools such as salary.com Links to an external site., glassdoor.com Links to an external site., or jobsearchintelligence.com Links to an external site..
1)What is the position, organization, and location?
2)What salary (or salary range) would you expect to be offered for this position?
3)What is offered in the benefit package? Consider bonus/commission, relocation allowance, health/dental benefits, life insurance, retirement/pension, vacation days, holidays, tuition reimbursement, professional development or training, etc.
4)What is the minimum income needed based on cost of living?
5)What networks, websites, or personal resources did you use as a tool to support your salary requirements?
3) evaluate the offer
Once the employer gives the initial offer, it is common for a candidate to take time to evaluate and return to the employer with a counter-offer or negotiated adjustment to the original offer. The employer then may need to reconsider and take some time before returning to the candidate with either acceptance of the counter-offer terms or more adjustments. This process continues until the employer states that the current terms are their “final offer.” When the final offer is given, the candidate can still take time to consider but will need the next contact with the employer to be a notice of acceptance or declination. Making the best decision involves a host of factors. At the very least, you should look at job offers as they relate to your individual needs, family situation, and career goals. Only you can decide which factors are important. What is important to one person is not necessarily important to someone else.
1) Is the expected salary adequate for your needs? Please explain.
2) How does the benefit package compare to those of other employers?
3) Is the geographical location conducive to your hobbies, community activities, and social support groups?
4) In what ways does this job match your values, interests, skills and beliefs?
5) In what ways would this job provide you with the lifestyle you are looking for in a job?
6) Additional factors are important to you? For example, what is the employer’s reputation? Is the training program attractive and comprehensive? Does the organization provide advancement and mentoring opportunities? Will you be given significant responsibility? Does it offer professional, personal, and educational growth?
Step 4 : Negotiation Plan
Present the employer with research about salaries in the field and cost of living and/or market demand for your credentials and qualifications. Keep in mind that items besides salary may be negotiable, such as location, start date, relocation expenses, signing bonuses, schedule, vacation days, company car/travel expenses, tools for work, workspace/furnishings, expense accounts, professional development opportunities/funding, club/professional association memberships.
Select one of the following scenarios and provide a written response (100-200 words) to the employer’s initial offer. Make sure to incorporate one of your value statements.
•Scenario 1: You are offered an initial salary of $45,000 but you would like to negotiate for a higher number.
•Scenario 2: The employer starts the process by stating an offer that is unacceptable to you. The employer says: “The salary range for this position is $42,000 to $47,000, is that what you were expecting?”
•Scenario 3: The interviewer’s tone suggests a strong resolve to go no higher or that the entry-level salary policies are fixed (not negotiable).
