Careers
Careers
Salary & Benefits
On this page you'll find information that will help you navigate the negotiations and options when it comes to compensation.
Salary Negotiation
Q: I’m on my third interview with the legal department of a large retail firm, and I expect to receive an offer fairly soon. But once the company makes ist move, I know I’m going to feel a bit uncomfortable negotiating with them if the salary comes in at a lower level than I’d hoped. Do you have some tips to offer?
A. Negotiating compensation is awkward for most people, but preparation and diplomacy can ease the process. Here are some guidelines:
Know your market worth. Make sure you have a good understanding of the current pay range for the position before negotiations begin. Often the salary range is included in the job advertisement, or the hiring manager may let you know during the interview process. Internet salary sites, professional associations, recruiters, and publications such as the annual Robert Half Legal Salary Guide can provide useful information on compensation norms for your area. Remember that your level of skills and experience will determine the appropriate salary within the standard range.
Keep your cool during negotiations. Let the hiring manager bring up the subject of pay. Once the topic has been broached, you might begin by mentioning a range that would be acceptable to you. It’s important to be calm and professional throughout the discussion. Also, remember that negotiating is a two-way street, so remain open-minded. Finally, it’s wise not to commit to the offer during the negotiation meeting. Instead, get the offer in writing, ask for a few days to consider it, and then make your decision.
Consider non-salary elements. While money is certainly an important component of the overall compensation package, it isn’t everything. Telecommuting accommodations or opportunities for advancement may tip the scale when evaluating multiple employment offers. Consider what lifestyle elements are important to you, and then weigh these along with the monetary components as you make your decision.
Benefits Programs
Q: I’ve been offered a job and was pleased with the starting salary. However, I’m not sure how to evaluate the company’s benefits package. Any advice on what to look for?
A: What companies are offering — especially in the area of health benefits — is changing rapidly. Keeping the following information in mind can help you evaluate a firm’s benefits plan:
Consult friends and family. Reach out to those you know to see what their companies offer in terms of benefits. You also can consult the Web for information about popular benefits choices. Having a basis for comparison can be helpful.
Consider the spectrum of benefits. The hiring manager may not mention all the perks a prospective employer offers during the interview stage. To get a full understanding of what you’ll be offered or if you’re curious about a certain benefit, such as wellness programs, training and development opportunities, education subsidies, commuting perks, or 401(k) plans, be sure to ask about them.
Negotiate carefully. Though you typically have little room for negotiating a different benefits package, you may have some flexibility, such as shortening the amount of time you must be employed by the company before benefits take effect. Just don’t overestimate the amount of leverage you hold or burn an important bridge before you’ve even started with the firm.