Negotiating Your Compensation Package

To evaluate and negotiate a job offer, you may need additional information and some assistance. The experienced advisors of the Weston Career Center can help you with your negotiation strategy.

Salary negotiation can be risky. Before deciding to negotiate, be sure you have the offer in writing and be prepared to ask yourself the following questions:
  1. What do I want to achieve by negotiating?
  2. Why am I negotiating?
  3. What will be the minimum I will accept?
  4. Will I accept other benefits in lieu of a higher salary?
When negotiating an offer, you should also know all of the following:
  1. The market value of your skill set and experience
  2. Your negotiating position/power
  3. What needs to be negotiated
  4. Your living expenses and budget
The process of negotiating a job offer typically begins by stating your interest in the position and how well your skills match the qualifications of the position. Our advisors can offer recommendations on how to build your case in the most effective manner. For example:
  1. Based on your research of the cost of living and/or market value of your skill set, you found that you need more compensation.
  2. Based on other job offers that you received, you found that your market value is higher than what you have been offered by the organization.
  3. Based on the shortage of individuals in your chosen field, you found that you are worth more than what the organization offered.
  4. Based on your current situation, you find that you need to negotiate your start date and/or benefits.
Just remember, your intention is to accept the offer, so be prepared to be involved in creating the solution. The organization may ask you to provide options for them to consider when negotiating the job offer. Consider all factors, including benefits, perks, signing bonuses, relocation allowance, etc.

Never fabricate information, and know when to stop negotiating. The WCC strongly encourages you to meet with an advisor before engaging in offer evaluation or negotiation actions. For more information, review the Career Guide pages 46-48.

To meet with a career coach, schedule an appointment online, email wcc@olin.wustl.edu, call 314-935-5950, or stop by the WCC in Knight Hall 210.