Unit 3: Negotiating Compensation
Discussions of salary requirements during the interview can be tricky. There are no absolutes about when you may be asked your salary requirements: It can be during the initial screening interview on the telephone, casually asked during the interview, or during a second (or even a third) interview. Whenever salary questions arise, you are expected to have knowledge of comparable positions in your labor market as well as your competitive market value. The resources in this unit will provide guidance to assist you in researching this information and to prepare you to get the salary you deserve!
Completing this unit should take you approximately 1 hour.
3.1: Preparing for Salary Discussions
You may have had several interviews or this may be your first interview. In either case, the subject of salary may have the effect of making you feel embarrassed or shy. This is definitely not the time to hide your light under a bushel! Employers expect candidates to be informed about their marketability for a given level of job in a particular industry. The good news is that if a question is asked of you regarding salary requirements, the interviewer is probably interested in learning more about you or even intends to make you an offer. The readings below provide information about factors to consider when determining your value to an employer and how to turn the salary discussion into a desirable offer.
3.1.1: Salary Scenarios and Questions
This reading advises you not to be taken by surprise. The article includes various scenarios in which you are asked to respond to questions about your salary expectations and offers possible responses to these questions.
3.1.2: Understand the Rules of the Game
This site offers information about how to obtain salary information for a specific type of job or occupation. Click on the "Identify the Salary" link highlighted under "Evaluate the Offer Wisely" to find salary information for over 800 different occupations. You will read how to communicate your ideas and concerns effectively. Because salary negotiation is a type of dance in which you and the employer may go back and forth in discussing issues, tradeoffs, and so forth, the article helps you to "understand the rules of the game" in order to achieve your desired outcome.
3.1.3: Negotiating Job Perks
Salary is not the only opportunity for you to negotiate with a potential employer for a desirable outcome. Many of today's employers are offering such perks as "extra vacation time, flexible scheduling, continuing education benefits, and tuition reimbursement" to retain valued workers and attract new employees. This article offers eight tips to "negotiate for perks in lieu of a higher salary."
Unit 3 Assessment
Please take this assessment to check your understanding of the materials presented in this unit.
Notes:
- There is no minimum required score to pass this assessment, and your score on this assessment will not factor into your overall course grade.
- This assessment is designed to prepare you for the Final Exam that will determine your course grade. Upon submission of your assessment you will be provided with the correct answers and/or other feedback meant to help in your understanding of the topics being assessed.
- You may attempt this assessment as many times as needed, whenever you would like.