« Student|Alumni Portal

Print

Email

Evaluating Offers & salary negotiation

Evaluating an Offer

Important Factors to Consider
Congratulations! After a long job search you have a job offer and are waiting to hear from other employers. Evaluating the job offer to make sure that it's the right one for you needs as much effort as writing a resume or preparing for an interview. Being prepared to discuss salary is also an important part of the process. Remember that the Office of Co-op and Career Services Office is available to help!

Evaluating Job Offers
Carefully weigh all the important factors listed below in considering the offer and don't hesitate to discuss any questions or concerns you may have with your program coordinator.


You should promptly acknowledge receipt of all job offers and promptly inform the employer of your plans, which are outlined next.

Accepting/Rejecting an Offer
Job Offer Options
• Stall - Not Ready To Make A Decision: Express appreciation for the offer. Tell them that because this is an important decision you would like some time to carefully think about it. Agree on a reasonable time frame to get back to the company. You should not need to accept any offer on the spot. If you are waiting to hear back from other companies with whom you have interviewed, contact those companies and find out when they will be making a decision, informing candidates, and, if you can, find out whether you are being considered for the position.
• Accept - You Really Want This Job: Show your appreciation for the offer. Ask the employer to confirm the offer in writing. Do not interview for any other positions. Reject all other offers immediately by telephone or e-mail. Report your job to the Office of Co-op and Career Services.
• Reject - Thanks, But No Thanks: Express appreciation for the offer. Say something positive about the organization and be diplomatic. Let them know that the position is not a good fit at this time.
• View sample acceptance and rejection letters.

Ethics Of Accepting Or Rejecting An Offer
Once you accept a job offer, even verbally, you must not back out, or renege on the job, to work for another employer. If you have any questions/concerns about this, discuss with your program coordinator before taking action!

Good employer relations are vital to RIT's relationship with employers, and you, the student, are a critical link in this relationship. In addition, reneging on an offer could damage your chances of future employment with that company. Therefore, consider carefully before accepting a position.

• Discuss offers thoroughly with employers so you understand the terms and reach a mutually acceptable date to respond to their offer.
• Request extensions from employers if you need more time to consider other offers. Do not ignore deadline dates you have agreed upon.
• Notify employers that you are accepting or rejecting an offer as soon as you make your decision - never later than the arranged date.
• Once you accept a job offer, immediately inform other employers who have offers pending. Honor your acceptance of an offer as a contractual agreement with the employer.
• Cancel any other scheduled interviews or on-site visits.

Salary Negotations

 

Preparation And Research
Many factors determine salary offers; the type of work you perform (based on your skills, education, and experience level), the industry, company size and the geographical area. Keep in mind that there is more room for negotiation when discussing full-time offers versus co-op or short-term employment.

Start by learning what the typical salary range is for the job and what your skills are worth. Salary range information is available from a variety of sources including trade magazines, the Bureau of Labor Statistics, and the Internet. The Office of Co-op and Career Services Web site has salary information, for specific programs, collected from both co-op and graduating students.

Next, determine your salary requirement. Work out a monthly budget incorporating all of your real and anticipated expenses, savings, "fun" money, and a cushion for emergencies. Remember that taxes come off the top of each paycheck, approximately 28% of your gross income.

Salary Discussions
Early in the process the employer may try to find out if the company can afford you. You can choose to do one of the following:

Ignore the request, which is obviously risky.
Inquire if there is a set salary range for the position.
Acknowledge the request and say that you are open and flexible about starting salary, but that you expect to receive competitive compensation.
Provide your salary requirements, but only after you have done your research. You should provide the employer with a broad range and make sure you are comfortable with the bottom range figure!

Generally, you should wait for the employer to bring up the salary issue. Ideally, this happens near the end of the interview process when you know more about the position. However, if the employer doesn't mention salary, and you are at the point of seriously considering a position with the company, it is appropriate for you to bring up the salary issue.

Factors Beyond Salary
Keep in mind the benefits the company is offering, as well as other perks such as; 401K, relocation expenses, company car, bonus, vacation, holidays, life and medical insurance, tuition assistance, and stock purchase or savings plan. These benefits can add as much as 30-40% to your actual salary.

Sample Negotiation Scripts
Avoid being confrontational; be reasonable in your approach. Reiterate that you are very interested in working for the employer and you want to find a way to work this out.

"At the present time my salary requirements are negotiable within the range of high thirties to low forties."
"Given the responsibilities of this job, I would expect this position to pay in the range of __ to __."
"Thank you for the offer. I am very excited about working for you because ABC Company is my first choice. However, knowing the going rate is ________, I was really looking for something in the range of ____ to _____. Is there any possibility of that?

Reference: Thomas J. Denham, Evaluating Job Offers and Negotiating Salary, Jobweb.com


Links

The National Association of Colleges and Employers offers the most accurate compensation data available. Click here to access the NACE Salary Calculator Center.

Jobstar: Jack Chapman, author of Anyone Can Negotiate Their Salary -- This Means YOU! Jack offers his best tips on salary negotiation.
http://jobstar.org/tools/salary/chapman.htm

The Noel Smith-Wenkle Salary Negotiation Method: How to avoid naming a salary range too early in the negotiations.
http://www.nmt.edu/~shipman/org/noel.html

CareerWeb.com: Salary Tips for 30 Salary Negotiation Mistakes to Avoid and more.
http://www.careerweb.com/rescen/car_advice/welcome.html

Collegerecruiter.com: Suggested salary negotiation guidelines for recent college graduates. A good introduction to the process and the tactics.
http://www.adguide.com/pages/articles/article257.htm

University of San Fransisco Career Center: Guide to Negotiating Salary & Benefits
http://www.usfca.edu/usf/career/salary.html

High Technology Careers Magazine: Article titled Tips for Getting That Raise covers how to prepare for a salary discussion with your boss.
http://www.hightechcareers.com/docsoft197/onthejobsoft197.html

Hard@Work: Offers tips for handling salary reviews or bringing up the compensation issue on your own.
http://www.hardatwork.com/Escalator/raise.html

CareerSearch Salary Wizard: helps you find salary information for a particular job in a particular city. The link to CareerSearch is on the main student page of our site.