Evaluating and Negotiating a Job Offer

Congratulations, you have made it through the interview process and are the candidate of choice. You will now begin the most delicate part of the entire process: negotiating the offer. The process is very similar to dating. You've gone through the interview cycle, you've met all the people - the in-laws, the cousins, the whole family - and right now you like each other. The role they have chosen for you is one you feel that you can fill and certainly one in which you can advance. The corporate culture makes you comfortable; you believe in the organization's values, missions and goals.

Now what? Before negotiating begins, consider all aspects of the offer. Is relocation involved? If so, do you feel comfortable moving? Is your family behind you? Are you confident and comfortable with the position and the potential for growth within the organization? Are you comfortable with the person you will be working for? Is there anything about the culture of the organization that doesn't suit you? The Offer and Negotiation Let's assume that everything checks out positively. It's time to analyze the offer. You should clearly understand the position and what support you will receive from senior management to do your job effectively. An offer should include a base, a bonus (if part of the package), and an explanation of how that bonus is achieved. It should also include all the perks and benefits for which you are eligible. If you've decided you really want the position, but the salary is not quite what you need, work with the hiring manager. A signing bonus may be a possibility. If you can't get the salary you need because of equity within the organization, many organizations offer creative solutions such as putting you on salary a month early or offering educational reimbursement for an advanced degree. How you negotiate and are recruited into an organization sets the tone for the rest of your employment. If you'll need to relocate, be sure to negotiate a fair moving package up-front. In some cases, if an organization can't offer a signing bonus, you can get a little extra money in your moving package. But be sure to check with your accountant on all aspects of your offer letter, particularly the moving package. Many parts of a move are tax-deductible and many are not; it is important to understand them before you enter into an agreement. Toward a Final Decision As you are dealing with the offer, the time will come to tell your current employer about your new opportunity. Before you started looking for a job, you should have evaluated your reasons for leaving your current employer. Therefore, if you have already decided to leave your current employer, accepting a counter offer becomes counter-productive. Accepting a counter offer does two things: (1) it distresses your current organization and (2) it puts your current organization on notice that you can be bought and that you are ready to leave. You may get more money by deciding to stay, but your employer will never trust you again. Let's say you're ready to move on to a new opportunity. Before you accept any offer, ask yourself the following questions and trust your intuition when assessing your answers: Do you like the person to whom you'll report? Will your new job give you growth? Do you fit the corporate culture? Do you like the team? Do they exude energy and enthusiasm? And last, but not least, will this new job compensate for the negatives in your current position? You've reached the final stage. No doubt about it, negotiating is difficult. It must be a win-win situation for both sides. Make the negotiation a pleasant process for everyone. That doesn't mean you should give in and lose a lot of money in the process, but try and understand your employer's position. You can easily over-negotiate, and the offer can be withdrawn. Use all your resources at hand. Keep your family, friends and associates involved every step of the way. And if you are working with a recruiter, make sure that you consult that person for advice. This is the hardest part of the process and the recruiter should be there to help you. Make sure that you have phone numbers of some of your peers and boss on the new job so you can call and ask questions. Once you get a written offer, it is fairly finalized. Remember, after you've accepted an offer, it is uncomfortable for both parties if you come back and say, "Oh, excuse me, I forgot, I am going to lose $10,000 in my pension fund; you need to make that up." Make sure you have covered all your bases before entering final-stage negotiations. You'll want your new colleagues to be proud and excited to work with you. And, if you've handled the hiring process well, they'll realize you are a team player who is anxious to support the organization. Ms. Hersher is founder and president of Hersher Associates, Ltd., a health care consulting and executive search firm located in Northbrook, Ill. She is an expert in organizational assessments, position design, and executive recruitment and retention. Ms. Hodges is executive vice president of Hersher Associates, Ltd. She is also an expert in organizational assessments, position design, and executive recruitment and retention.