Transcript Negotiation - College of Agriculture, Food and Natural

COLLEGE OF ENGINEERING
Dallas Ford
Principal
Alpha Scouts, LLC
COLLEGE OF ENGINEERING
Salary Negotiations:
In this Economy?
COLLEGE OF ENGINEERING
Salary Negotiations:
What in the @#$% are
you thinking?
COLLEGE OF ENGINEERING
Key Learnings
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2.
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4.
Understanding negotiating fact and fiction
Increase knowledge of negotiation how-to’s
Gain understanding of negotiating etiquette
Establish confidence in negotiating a complete
salary and benefits package.
a.
Attempt to establish YOUR value in the eyes of
the employer rather than hoping they like you.
b. Being realistic in negotiation requests
c. When to compromise and when to walk away
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Facts
and
Fiction
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Fiction
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Fiction
1.
2.
3.
4.
5.
6.
7.
College students shouldn’t negotiate.
Compensation is a sensitive subject.
You should discuss compensation up front.
Large companies have set salary ranges leaving no
room to negotiate.
Smaller companies cannot afford larger salaries.
Employers care about your financial situation.
Employers don’t care about their financial situation.
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Facts
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Job Outlook 2009 Special Report
• Overall, employers are expecting to maintain their college
hiring for 2009.
– An October 2009 poll confirmed that hiring is flat with
2008, which had a 16 percent increase over the previous
year.
– 2010 is projected to be down 6.9%.
• Trend data indicates that the number of students in the U.S.
graduating with degrees in the technical fields is not
increasing to meet long-term demand.
• Industries vary as does the situation for public vs. private
companies.
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Translation
• Baby boomers are retiring.
• There are not enough college graduates to
replace them.
• Companies still need qualified new
employees just not at the record levels of
the past few years.
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Negotiation
Strategies
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What is Negotiable?
• Salary
• Non-salary Compensation
– signing bonus; performance bonus; profit-sharing,
deferred compensation; severance package, stock
options
• Relocation Expenses
– House-hunting, temporary living allowance, closing
costs, travel expenses, spouse job-hunting/reemployment expenses
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What is Negotiable?
• Benefits
– Vacation days, personal days, sick days, insurance
(medical, dental, vision, life, disability), vehicle
allowance, professional training, continuing education,
professional memberships /conference attendance,
product discounts, clothing allowance, short-term loans
• Job-Specific
– Frequency of performance reviews, job title/role/duties,
location/office, telecommuting, work hours and
flexibility, starting date, performance standards/goals
COLLEGE OF ENGINEERING
Negotiation Top 10
1. Do your research! The greatest tool in any negotiation
is information.
– Employment websites such as AgCareers and
CareerBuilder have salary information.
– CNN Money cost of living calculator (see resources)
– MU Destination Survey and Agriculture College Survey
(see resources)
– Industry specific information, such as IFT.org, for Food
Science backgrounds or ASABE for Engineers.
– Career Services Offices
•
Stephanie Chipman and Meredith Shaw
– Past Graduates – Pick up the phone
– CAFNR Mentor Program
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Resources
• MU Destination Survey
http://enrollment.missouri.edu/Reports_and_Data/destination_study.php
• Agriculture College Survey
http://www.cafnr.missouir.edu/career-services/salary-results.xls
• Cost of Living Calculator
http://cgi.money.cnn.com/tools/costofliving/costofliving.html
COLLEGE OF ENGINEERING
Negotiation Top 10
1.
2.
3.
4.
5.
Do your research! The greatest tool in any negotiation is
information.
Delay salary and benefit negotiations for as long as possible.
– The greatest negotiation leverage happens between the
time of the original offer and when you make a decision.
– Don’t negotiate at the time of the initial job offer.
Just do it. If you don’t ask, you don’t get what you want!
Ask for a higher salary — within acceptable limits — than
you are willing to accept.
Negotiate base salary first, and then move on to other
elements of the job offer.
COLLEGE OF ENGINEERING
Negotiation Top 10
6. When presenting a counter proposal to the employer,
be sure and include a few items that are expendable.
7. Even if all salary issues are "off the table," there are
still numerous other benefits you can negotiate.
8. Never stop selling yourself and your capabilities.
9. Be prepared for any of a number of possible reactions
to your counter proposal.
10. Be willing to walk away from negotiations.
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Remember
your Integrity
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Remember your Integrity
•
If you have no intention of accepting the
company's offer, don't waste your time or the
company's by entering into negotiation.
If you have multiple job offers, don't put the
companies into a bidding war for your services;
select your best fit and go get it.
Don't enter negotiations with the wrong attitude.
•
•
–
•
Arrogance is not a qualification.
Never make demands.
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Remember your Integrity
•
•
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If you counter an initial offer and the
company meets your request, be prepared
to say yes.
Never go back on your word.
Never attempt to renegotiate after you
accept an offer.
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But How Do I
Handle…
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What kind of salary are you looking for?
Responses:
• “Until you've decided you definitely want me, and
I've decided I could definitely make an impact here,
I feel any discussion of salary is premature.”
• “I'll gladly come to that but could you first help me
to understand what this job involves.”
• “If you don't mind, I would rather address the salary
question after I've had a chance to learn more about
this position.”
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What kind of salary are you looking for?
If you find yourself having to give an answer,
give a salary range.
• “I'm looking for a salary in the $45K to $55K range.”
• “My research indicates the salary range for this
position, in this industry and region, is between $45K
and $55K.”
COLLEGE OF ENGINEERING
What Other Scenarios?
What if I accept a job from Caterpillar and
later get a job offer from Deere?
Options?
A. Back out on the Cat offer to take the Deere offer.
B. Pass on the Deere offer because you have already
given your word to Cat.
C. Back out on Cat to take Deere, both companies talk
and question your ethics. Both rescind their job offers.
COLLEGE OF ENGINEERING
Recap
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Key Learnings
1.
2.
3.
4.
Understanding negotiating fact and fiction
Increase knowledge of negotiation how-to’s
Gain understanding of negotiating etiquette
Establish confidence in negotiating a complete
salary and benefits package
a. Attempt to establish YOUR value in the eyes of
the employer rather than hoping they like you.
b. Being realistic in negotiation requests.
c. When to compromise and when to walk away.
COLLEGE OF ENGINEERING
Find something that you love so
much that you would do it for free,
and then do that job so well that
you get paid for it.”
- Orion Samuelson