Career Planning
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Review Your Job Offer
Prepare to Negotiate
As you review your offer and consider the requirements, compensation, and benefits, you may want to change a couple of items or terms.
While you don’t want to dwell on the non-pertinent minutia, it is still true that the devil is in the details.
So if you or your attorney feel that slight wording changes can provide better clarity or protection, be sure to mention them.
As you review your offer and consider the requirements, compensation, and benefits, you may want to change a couple of items or terms.
While you don’t want to dwell on the non-pertinent minutia, it is still true that the devil is in the details.
So if you or your attorney feel that slight wording changes can provide better clarity or protection, be sure to mention them.
This will require you to negotiate with your prospective employer in order to reach a different agreement than what was offered to you.
What is Negotiation?
Consider the basic definition: “discussing something in order to reach an agreement”
While this doesn’t seem to be a very difficult task, the idea of asking to change or modify a job offer can cause a great deal of anxiety. The best way to overcome this is to understand what and how to negotiate.
Here is an overview and a few tips to help:
Know What's Negotiable
When it comes to negotiating your offer, it is important to know what is on or off the table in terms of negotiation.
Typically less-negotiable:
Base compensation or salary
For many organizations, base comp has been established through a deep analysis of fair market value, and they may be very structured, rigid, and firm.
This is especially true for employment positions in large groups, hospitals, or academic programs. Nonetheless, you should arm yourself with accurate, objective data and if the base comp you are offered is substantially different, seek clarification why.
It may be that there are incentives or bonus structures that bring the overall compensation closer to the market, but it also may be that there is simply enough supply that demand, and therefore salary, is low.
Employer-sponsored insurance coverage or savings plans
Usually, these are based on group contracts and plan types with locked rates. It will be exceedingly unlikely that you will be able to modify the amount of premiums or coverage within certain plans offered.
The components of many employer sponsored or “defined-contribution” savings plans such as 401k’s, 403b’s, and 457b’s, are dictated by law, however you may choose whether or not to participate. And depending on the size of the practice or organization, you may have several plan types or coverage options to choose from.
Typically more-negotiable:
Non-salary benefits or recruiting incentives
These items tend to be much more flexible in terms of amount, distribution, rationalization for use, and effective date.
Typically, there is a broad institutional policy outlining the incentive plan, and application to the candidate can be tailored to meet their needs.
For example, if you have student loans but are not moving far from your training location, you may wish to request a greater amount for loan repayment in lieu of a relocation reimbursement.
Be sure to consider the tax implications of any benefits you are negotiating.
Non-compensation benefits (schedule, weekends, call, time-off, other benefits)
These are definitely on the list of items that you can request accommodation for to meet your practice preferences and personal needs.
Whether or not the practice is willing to flex on these items will weigh into your decision whether to take the job.
Know How to Negotiate
As you start to consider what terms you want to negotiate, it is important to also understand how to have an effective negotiation.
Here are a few tips to help you prepare:
Tip #1: Approach It as a Problem-Solving Session
Think about the negotiation as a problem-solving session with each of you collaboratively and thoughtfully designing a resolution to meet both of your needs.
Negotiation doesn’t have to be confrontational, and is typically far more effective when it is not. In contract negotiation, both parties have a vested interest in obtaining an executed agreement.
If you view the process as capable of attaining a win-win scenario, then it is just a matter of deciding which “wins” you need to achieve.
Aim to consider and offer various options or scenarios to collectively arrive at a mutual agreement allowing BOTH of you to meet your needs.
Tip #2: Prepare Extensively
Yes, you can treat the negotiation as a calm, collaborative problem-solving session. However, an effective negotiation will require significant planning and preparation prior to your discussion.
Be sure you can articulate and represent each of your goals. You should know specifically what you bring to the table that is unique and how you can help the practice or program meet their priorities and goals.
Be clear on why you are the right candidate by offering how you intend to serve their needs. Outline their needs in detail as you demonstrate where your strengths, credentials, or skills align to them directly.
It is important to outline mutual goals as this becomes the foundation for the negotiation. You both have a vested interest in coming to a mutual agreement.
Tip #3: Know What Can Be Traded. When In Doubt, Just Ask.
You must know what is negotiable and non-negotiable for you and for them. Consider the items above, as well as your discussions to date and what is contained in the job offer itself.
You may already have a general idea of what is on the table for them and what items will likely be less negotiable. But if not, it is perfectly acceptable to ask.
Be prepared with a list of items you think can be traded and a list of your deal breakers or non-negotiable items.
Brainstorm options, ideas, and creative solutions to ensure you have considered all the scenarios that could work. Work through these items to establish where there is flexibility and potential for mutual benefit.
Tip #4: Understand the Give and Get
Approach the negotiation ready to give something in order to get something. As you brainstorm various options and alternatives to their offer, be mindful of what you are giving in return for your requests.
Tip #5: Don’t Be Afraid to Ask for What You Want
Not only should you seek to ask what’s on the table for the other party, you should ensure that they know what in on the table for you. If they know your priorities, they may be able to help with a creative solution to meet your needs.
The purpose of a negotiation is to ensure each of you gets what you want. Don’t leave anything off the table, especially if it is important to you.
Explain your needs to support your request and then offer what you would like to see as an outcome.
Tip #6: Set The Right Stage
Don’t surprise the other party with your list of demands.
When you request their time, explain that there are terms of the offer that you’d like to discuss and hopefully modify to better meet your needs. Let them be mentally and logistically prepared to hear your counteroffer.
The agenda should be clear to both parties with a specific date and time scheduled.
Assertiveness in making the request will likely be viewed that your are serious about having a productive negotiation.
Tip #7: Seek a Creative Solution
Sometimes the outside-the-box idea is just what it takes to break the typical rigidity of a long-standing employer contract.
Tip #8: Leverage the Rapport You Developed
Don’t forget to connect on a personal level. Yes, the negotiation is all business, but this doesn’t mean you can’t soften the discussion with a bit of conversation before you get started.
In fact, the more human connection and rapport you have established with your counter party, the higher the likelihood you with either get what you ask for, or get your best alternative.
Be sure to recognize you both have the goal of creating a mutually beneficial agreement and that this can become the starting point for a long-lasting collegial and professional relationship.
Consider the fact that if all goes well, you will be working with this person for a long time. Be friendly. Be personable. Be reasonable.
Additional Resources
Provides additional tips and advice on how to effectively negotiate.
Offers an in depth overview of the importance of negotiation and several tips on how to negotiate.
