2019-2020 Purdue University Career Success Handbook

6 Steps to Salary Negotiation Success! Congratulations on your employment offer! Consider the following steps to help you prepare to negotiate your offer. Select resources and steps suggested by the AAUW Smart Start Program and the WAGE Project. Navigate to https://www.cco.purdue.edu/ and hover over the “Students” section in the Navigation bar, then hover over “Job Search Toolkit” and then click on the “Job Offers & Negotiation” link for additional resources.

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3 Know the Salary Range for the Job Consult the NACE Salary Survey and the CCO Post-Graduation Data to identify the salary range for your field. NACE Salary Survey:

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Research and Determine the Right JobTitle Examine the job description. Note the responsibilities and skills of the position. Utilize the Salary.com “What are you worth?” feature to determine job titles and salaries by location. www.salary.com

Determine Your Target Salary Review your resume to assess

experiences in which you developed and utilized skills that are related to performing successfully in the prospective job. Prepare to discuss your skills and their value to the organization.

http://www.myjsi.com/NACE/ jobseekers/salary-calculator.php CCO Post-Graduation Data: https://www.cco.purdue.edu/data

Research Market Conditions Learn about market conditions in the area where you plan to work. Consider the following: • What are the overall economic conditions of the area, the demographics, and special conditions that might have a bearing on your industry? • What is the competition fro the organization at which you hope to work? • How is the financial health of your potential employer? • Is the business expanding in the local economy? • Is your field vulnerable to economic and/or political changes? 4

7 Develop a Budget and CalculateYour MinimumAcceptable Salary

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6 Benchmark Your Benefits Refer to www.salary.com to evaluate the benefits of your offer against the median benefits that are common in your field.

Additional Financial Literacy and Planning Tools Tools to track expenses • Mint.com • LearnVest.com Other Financial literacy and planning sites • Mymoney.gov • Nerdwallet.com • Check out local offerings for financial literacy workshops

Make a list of the essential expenses you will have for one month and compare them your expected salary.

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