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Consider total rewards - not just salary - when evaluating the offer and proceeding with negotiations. All items in a total rewards package have a value. The value may be measured in dollars, or in some other less tangible way such as work/ life balance, experience or security. The value ascribed to the different items - even the ones measured in dollars - are different for different people. They may even be different for you over time. It's important to determine how you value the elements of the total rewards package, and prioritize them accordingly. Identify your needs versus your wants, and which items are non-negotiable for you and which you are flexible about. Determine what elements of a total rewards package are important to you. Doing this exercise will also help guide you in the negotiation discussions.
Use the Job Offer Negotiation Worksheet to help determine what elements of a total rewards package are important to you.
See Related Action: 4.4 Working with Recruiters: Let the recruiter negotiate on your behalf
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My Coaching
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| Get an edge over the competition |
Determining the salary range for any given job depends on a number of often changeable criteria, some of which are listed below:
- Required skills, knowledge & experience
- Responsibility level
- Geographic location
- Talent supply & demand
- Company compensation philosophy
- Company performance & profit
- Employee performance and tenure
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