A lot of people think negotiation happens once you have a job offer. And for those people, the time of negotiation can be more stressful than necessary because a lack of prep. You can start working now to understand more about yourself and the market so that you can be confident and prepared when receiving an offer and moving into a period of negotiation.
Here are a few tasks for your “pre-work” in negotiating an offer. We encourage you to spend time with these before you have an offer but it’s also a good list for after an offer has been made. [Note: This is written from the perspective of negotiation for a full-time role. Negotiating for an internship or short term role is less common but does happen at times. Reach out to a career coach to talk through your negotiation for a short term opportunity.]
Determine your priorities.
- Identifying what is important to you is vital in effectively evaluating an offer. What aspects of the role are important, and thus potentially non-negotiable? You might know that you need a role in a team environment 60% of the time. Or you may know that you want to work alone 75% of the time. You may have geographical constraints, may need to pay back student loans, or know you need certain medical benefits. Or, you may know that top priority for you is working for an organization with a mission you 100% support. What is important in one’s work, and life, is unique to them. Knowing what your priorities are can help you evaluate offers more effectively and ultimately accept a role with the most potential for alignment. (Re)Visit the clarify what you want section of the OCC or speak with a career coach to learn more about determining your priorities.
Begin understanding components of a job offer and what is negotiable.
- For some, you will receive your first offer while in your graduate program, for others, it may be your first offer in this country. It’s important to understand the aspects of an offer and what is potentially negotiable. Below is a list of what could be negotiable within a role. If one of these terms is new to you, google to learn more. salary
- signing bonus
- relocation
- start date
- location of role
- in-office work, remote work, or a hybrid
- some benefits like PTO (paid time off)
- …and many more. I think this HBR article provides a good list.
Know your market value. Let me say it again. KNOW YOUR MARKET VALUE!
- Knowing your market value sets you up for success and allows you to make more informed decisions. We strongly encourage you to know your market value before you are asked about salary expectations—this could be at any point in the search process (within the application itself, or in a first round interview). Some past Engineering Master’s students have limited their salary potential in their first role because when asked, “what salary expectations do you have?” they gave a number without appropriate research. (If you are asked salary expectations in the interview and don’t want to answer with a specific number, this article from The Muse gives you ideas about possible responses.) Here are some steps for determining your marketing value.
- Conduct salary research using sites below and other trusted sites specific to your industry:
- Glassdoor.com
- LinkedIn Salary
- US Bureau of Labor Statistics
- O*NET
- Educate to Career Salary Calculator
- Indeed.com
- Salary Expert (includes cost of living calculator)
- Interstride Visa Insights (salary data from previously filed H-1B applications)
- Use the information on Duke departmental websites to have an understanding of past information.
- Use cost of living calculators, like Payscale’s to determine salary parameters you may have based on location
- Determine an expected salary range, taking into account your market value along with your experience, skills, and education
- Conduct salary research using sites below and other trusted sites specific to your industry:
Begin learning best practices in negotiation.
- Read up! There is lots of information on negotiation out there including: AAUW’s Online Negotiation course and workbook (fantastic resource and you don’t have to identify as female to engage)
- Harvard’s Program on Negotiation (helpful information in blog and newsletters)
- Coursera Course on negotiation
- LinkedIn Learning course on negotiation
- Payscale’s Salary Negotiation Guide
- the Negotiation Curriculum within the Big Interview’s Learn section
Get advice from a number of sources
- You don’t need to do this work in a vacuum. Get diverse opinions about negotiation, and salary. Don’t rely on one type of person, whether it be gender, industry, or another identifying factor.
- Ideas for sources include: faculty members who have worked in industry, career coaches, alumni, peers, and former supervisors.