Salary Negotiation Career, Internship & Student EmploymentSUB 177406-994-4353careers@montana.edu

Office of Financial EducationSUB 177406-994-4388makechange@montana.edu

Today• Our Offices• Research• Know Yourself & Your Budget• Present Yourself Well• Tips• Process• Practice, Practice & Practice

Office of Student Success

• SmartyCats Tutoring• Champ Change• Success Coaching• Study habits• Time management skills

• Learning Strategies• Return to Learn

Career, Internship & Student Employment Services

• MyCatCareers.com• Career Coaching• Resume critiques• Mock interviews• Strong inventories, etc.

• On-campus interviews• Workshops, fairs, presentations, and more

Office of Financial Education

• Financial Coaching• Loan repayments• Budgeting

• Student Loan general information• Workshops

Research

• Find the salary range for the job you are applying for• http://www.salary.com/

• Not sure where to live?• Research the cost of living in two cities• http://money.cnn.com/calculator/pf/cost-of-living/

• Set what you believe would be the minimum amount you can accept.

• Don’t forget about your benefit package!

Know Yourself & Your Budget• How much do you need to live for one month?• Do a quick budget: rent, food, gas, utilities, credit card payments,

loan payments & fun tickets vs. your monthly income• What are your wants vs. your needs• Know what your limits are so you can spend wisely• Budgeting Steps

1. Start your budget by reviewing your past spending2. Collect all sources of income3. Collect expenses information4. Subtract your monthly expenses by your monthly income

• GetMoneySmarts.Org• Can you afford to accept the salary that you researched?• Set a target salary that will fit into your lifestyle

Process

Salary Reality Check: Salary Negotiation is about the job and what the employer is willing to pay – it’s not about you.

• Salary negotiation begins only AFTER you’ve been offered a job.

• Salary is mutually agreed upon - discuss what you are worth.

Process continued…• Remember:• You’ve done your research! You know what the average salary is

for that particular job.• You have set your target and minimum salary.• You know what the benefit package should look like.

• You are offered the job! Now What?• If they offer you the job, they want you! • Be an active listener: “here’s my offer” or “here’s my final offer”• Do not start negotiating until they have given you an offer

Presenting Yourself• Be positive: salary negotiation is a discussion about your

qualifications and what you can bring to the organization.

• Be persuasive: show the employer why you are valuable. Focus on the facts and use your research. Know what you are worth!

• Be flexible: keep in mind your minimum salary vs. your target salary.

Tips• Never be the first to name the salary figure.• Aim high but be realistic.• Don’t go back and forth with numbers.

• Sell yourself.• Anticipate needs and objections.• Script a response to a potential objection.• “We don’t have a budget for that.”

• Don’t get personal.

Take your time. Your starting salary is the baseline for future salary increases.

Practice, Practice & Practice

• Do not discuss salary until you received a job offer.

• Network!

• Utilize Career Services and the Office of Financial Education.

Questions?

Robin Crough, MPAInternships / Hire-A-Student / exc.e.ed Program ManagerCareer, Internship & Student Employment Servicesrobin.crough@montana.edu406.994.4951

Kayla FieldsFinancial Education / ChampChange Program ManagerOffice of Financial Educationkayla.fields@montana.edu406.994.4984

Thank you for coming!

Upcoming Events:

• Pre-Career Fair Networking Social• Wednesday, February 19th: 5pm – 6:30pm, SUB Union Market

• INFO SESSIONS!• “Almost” Spring Job & Internship Fair• Thursday, February 20th: 9am – 3pm, SUB Ballrooms

• Interview Day • Friday, February 21st: All day, Marga Hoseaus Fitness Center