Your Progress
Week 10: Negotiating and Offer Letters
You Got the Job
Video Time: 15 Minutes Action Time: Around 1 Minute
Video Time: 15 Minutes
Action Time: Around 1 Minute
So you got a job offer. That’s great, but don’t go for it just yet! You want to make sure that you’re getting compensation that reflects your worth, so you owe it to yourself to do a little research. Places like Glassdoor provide these worth assessments for free, but it’s also important for you to figure out how your work ethic and soft skills factor in!
Before accepting a job offer, your best bet for a great opportunity is to negotiate with a prospective – or even current – employer. Negotiate on things like benefits that you want and deserve such as salary, healthcare packages, vacation time,
work location, weekly hours, etc. After you and your employer have agreed to the terms of your employment, you will be given an employment offer letter to sign. The offer letter will outline standard information about the start date, position, and compensation as well as information about benefits, contingencies, at-will-employment, and other legalities. Signing the offer letter shows that you accept the terms as set forth in the letter and, once also signed by the other party, it becomes a legally binding contract.
So you got a job offer. That’s great, but don’t go for it just yet! You want to make sure that you’re getting compensation that reflects your worth, so you owe it to yourself to do a little research. Places like Glassdoor provide these worth assessments for free, but it’s also important for you to figure out how your work ethic and soft skills factor in! Before accepting a job offer, your best bet for a great opportunity is to negotiate with a prospective – or even current – employer. Negotiate on things like benefits that you want and deserve such as salary, healthcare packages, vacation time, work location, weekly hours, etc. After you and your employer have agreed to the terms of your employment, you will be given an employment offer letter to sign. The offer letter will outline standard information about the start date, position, and compensation as well as information about benefits, contingencies, at-will-employment, and other legalities. Signing the offer letter shows that you accept the terms as set forth in the letter and, once also signed by the other party, it becomes a legally binding contract.
Why You Need to Negotiate
When starting a new job or receiving a promotion, your current salary may follow along. You need to negotiate for the changes you want to see in salary, benefits package, sign-on bonus, and so on to ensure this doesn’t happen. When sitting down with your current or prospective employer, be sure to outline the progress, monetary or otherwise, you have attributed in the past as well as any plans you have to be a great asset in your upcoming role and why you are deserving of your requests. By doing so, you will demonstrate your value. If you are still nervous about negotiating, think of it like this:
When starting a new job or receiving a promotion, your current salary may follow along. You need to negotiate for the changes you want to see in salary, benefits package, sign-on bonus, and so on to ensure this doesn’t happen. When sitting down with your current or prospective employer, be sure to outline the progress, monetary or otherwise, you have attributed in the past as well as any plans you have to be a great asset in your upcoming role and why you are deserving of your requests. By doing so, you will demonstrate your value. If you are still nervous about negotiating, think of it like this:
You can‘t get what you don‘t ask for!
This applies to anything you want in life.
Quick Facts About Negotiation
1
You are often expected to negotiate! HR typically gives an offer with room to negotiate for a larger salary.
2Negotiation establishes your baseline for your employment at your prospective or current company. This does not just apply to your salary, but raises as well!
1
You are often expected to negotiate! HR typically gives an offer with room to negotiate for a larger salary.
2Negotiation establishes your baseline for your employment at your prospective or current company. This does not just apply to your salary, but raises as well!
3
An employer may form an opinion of your worth based on whether or not you negotiate. For example, if you don’t negotiate, your employer may think that you are desperate and that they can hand anything your way and you will just take what you are given. Show them you have a spine and know your value.
4This process shows your employer that you can negotiate for the company. Do you want your company to promote you or give you a salary bump in the future? Show them you can get them five puppies instead of the three they were originally offered!
3
An employer may form an opinion of your worth based on whether or not you negotiate. For example, if you don’t negotiate, your employer may think that you are desperate and that they can hand anything your way and you will just take what you are given. Show them you have a spine and know your value.
4This process shows your employer that you can negotiate for the company. Do you want your company to promote you or give you a salary bump in the future? Show them you can get them five puppies instead of the three they were originally offered!
See you next episode, where we’ll explain How to Negotiate the Salary and Benefits You Want