Once an employer has made you a job offer, you may be faced with the task of having to negotiate a compensation package, which usually consists of a salary as well as any employer-provided benefits. When engaged in negotiations, it will be necessary for you to have information on salary trends, available benefits, and negotiation tactics available to you so that you are able to work out a compensation package that is fair to you and acceptable to your new employer. Conducting research into these areas can prepare you to successfully engage in compensation negotiation. Salary information that is available from the Labor Statistics Divisions of State Labor Departments, the National Association of Colleges and Employers, and specialized salary surveys performed by major periodicals, such as the Wall Street Journal, can be useful in determining what average salary ranges are for particular occupations. You may be wondering how an employer will approach you regarding a compensation package.
Employers utilize two basic approaches in regard to compensation offers.
This type of offer is usually not open to negotiation since the employer is initially making you their best offer. The second approach is one in which negotiation is not only acceptable, but is expected. In fact, some employers use this step as their final test of your abilities. In which case, your ability to successfully negotiate may play a significant role in the final decision of whether you are hired for the position. Create an atmosphere of team play and cooperation rather than competition when negotiating with the employer's hiring representative.