Salary Negotiations 106: Finalizing the Offer

Now, that you've received an offer, it's time to review the offer and assess if it meets all of needs.  You've done your research and know what else might in your list to be negotiated.  So, it's time to evaluate and seal the deal.

Evaluating The Offer

Once you have a better idea of the salary and non-cash compensation being offered, you can consider the offer.

Here are some things to think about:

• How much do you need to make? How much do you want to make? What is the lowest salary you’d be willing to accept? What is your salary goal?
• Besides money, does this job fulfill any of your other needs — such as schedule flexibility, the opportunity to learn new skills, or the chance to do interesting work?
• What kind of opportunities does the position offer for training, further education, and/or professional advancement?
• Do you have other job prospects lined up? How do they compare to this position?
• What makes you worth a higher salary? How do you compare to the other job candidates? Do you have special skills that are hard to come by?

To determine your fair market value for a specific job, you should consider the economic, geographic, and industry factors of the job offer.

It’s okay to ask for time to consider an offer — 24 hours, or the opportunity to “sleep on it” — is common.

Sealing the deal

Be aware when the negotiation is done. Pushing further when a deal has been set can give a negative first impression on your part.

When accepting a job offer:

• Clarify the specific duties and responsibilities.
• Know how your performance will be reviewed, evaluated, and compensated.
• Evaluate the full compensation package (not just the salary).
• Accept the offer verbally but request a written offer within 2-3 days.
• Follow-up with a thank you letter that includes the job title, annual salary, and your start date.

Make sure to get the job offer — or the raise you negotiated — in writing, either in the form of a letter of agreement or an employment contract.

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