Getting What You Deserve: Understanding Your Job Offer for Salary Negotiation
A Comprehensive Job Offer Analysis Workbook and Negotiating Tip
People leave jobs for higher base pay rates all the time. But is it really to your advantage to leave your current job? Let’s say you took advantage of one of the many helpful online salary paycheck calculators out there like this one that estimates your net take-home pay based on the data you input. If you solely look at base salary, keeping all other tax factors the same, then you would see your net take-home pay would likely increase if you made a higher salary.
But there are many other things to consider before you leave your job. This article highlights 7 hidden expenses associated with walking away from your employer. In addition to hidden expenses, there are outright expenses to consider including things like your time off carryover, retirement plan vesting, insurance out-of-pocket expenses, etc. So, I created a Job Offer Analysis Workbook that you can download for free, which will help you evaluate the salary and benefits package between either your current job and a job offer, or between two job offers.
Some people leave their job for less money. You may be leaving because of a toxic work environment, poor leadership or it’s just not a job you truly enjoy. This workbook will help you put into perspective the elements of base salary, time off benefits, health insurance coverage and retirement plan options. You might see that leaving your current job for less base salary is a good move when you factor in these other variables and weigh what is important to you.
Having managed benefits at a healthcare organization for several years, I like to educate people about their medical coverage. Many people glaze over when you start talking about benefits. But just keep in mind, your health is your life. You may be healthy now and rarely go to the doctor, but someday you or someone you love will need to utilize healthcare. Review this workbook and you’ll learn the important benefit plan features to help you weigh the coverage differences between health insurance plans. Know whether you are walking away from a “Cadillac” health plan into a way less rich plan where you will have more out-of-pocket costs.
I designed the Job Offer Analysis Workbook so that you can quantify which offer package is better for you. I realize there are lots of other factors that will go into your decision whether to accept a job offer or not, but this tool will be the answer to evaluating “Total Compensation” between two packages.
Once you see which job offer is better or worse from a Total Compensation & Benefits perspective, you can use this tool as leverage when you are negotiating your new job offer. Walk through this workbook and see where there are any shortfalls for you with the offer. With that, you can go back to your potential employer and ask for a higher base salary and be able to give them a reasonable number and a valid reason why you are asking. Don’t just ask for just 10% or a flat $5K more than the offer when you really need at least $10K more for it to work out for you. Employers are happier negotiating when you have a valid reason for asking for more money. Simply asking your new employer to “sweeten the pot” is not a good way to negotiate and may put you off on the wrong foot.
Using my Job Offer Analysis Workbook, you can negotiate professionally and reasonably. Check out my video to learn more about what to say in your salary negotiation.
Click this link to sign-up for my e-mail list and you will receive the Job Offer Analysis Workbook for FREE. Watch my video on YouTube for a full run-down on how to use this great tool. I created this as much for myself as I did for all of you and I know you will find it very helpful, whether you use it now or in the future.
