Preparation

Once you’ve accomplished your goal and received an offer for a job you want the work isn’t over. Before you accept, you need to make sure that the job you’re taking matches your impression--or if not, will meet your needs. Negotiating, or further discussion, may be required if there are areas of concern for you.

Salary

As a college student, chances are any salary offered is going to sound wonderful to you. However, depending upon what part of the country you’re going to be living in, the real value of a salary will vary according to the relative cost of living. What looks generous for Florida or Ohio will not go far in New York City or most of California.

http://www.careerjournal.com
Click on Salary & Hiring Info. Then click on Salary Calculator to compare the costs of living in hundreds of U.S. cities.

Build a Budget:

• Take a few minutes to figure out how much money you need to live on in the community where you received the job offer.
• Consider factors such as whether you will need a car, whether you need a wardrobe of professional clothes that require dry cleaning, etc.
• There are a number of budget workbooks that will give you all the areas you need to consider. Your parents could also be helpful with this.

Determining Your Minimum Salary:

• When comparing your budget to a salary subtract at least one-third from the total salary to compensate for taxes and other withholding.
• Use cost-of-living tables to determine how far a salary will go in other parts of the country.
• Sometimes, you may decide that the job is so valuable that you can compromise on the salary. Just determine where you can cut on your budget to do that--maybe by taking a roommate for the first several years, etc.

Benefits

• Benefits include medical coverage, retirement packages, etc. These may not seem that important to you now, but they are a valuable part of your entire salary package. For example, starting to save for retirement in your 20’s instead of your 30’s can more than double the amount of money you will have when you retire.
  
  
• Medical coverage can be expensive--and is something you should have. Make sure your benefits include at least a basic medical program--or your salary should reflect enough for you to pay for one on your own.
  http://www.ebri.org/webfact3.htm - 2.htm - 1.htm
  
  
• One of the best retirement benefits is a 401K program. This allows you to set aside money for retirement every year, and your company matches a percentage of it. For example, if you save 5 percent of your salary every year and the company matches your contributions 100 percent, you in a sense have increased your real salary by 5 percent--the money your company is giving you for retirement. This money isn’t taxed until you retire--saving you on taxes also.
  http://www.401k.com/401k/about/about.htm

Intangibles

• Other benefits of a job, such as training programs, bonuses, commissions, and opportunities for advancement are factors you should consider when determining the value of an offer.
  
  
• If a company promises a lot of these intangibles in return for your request for a higher salary--if appropriate, ask for at least some of these in writing. For example--that your salary will be reviewed in six months and raised if your performance meets or exceeds expectations.

The Negotiations

• Remember that it is not appropriate to start negotiations on any aspect of the job until an offer is actually made.
  
  
• Your best tool for negotiation is information. Make sure you have researched salaries for this type of job in your industry, so you can show a basis for your request for additional salary or benefits.
  
  
• Don’t feel obliged to ask for more money. If the offer is in line with your expectations and research, and you are comfortable with it--great. Many companies use the same research you have done to set their entry-level salaries.
  
  
• If money is a sticking point--try to negotiate some of the benefits or intangibles instead. The important thing is to balance their offer against the value of the job for you, and accept if the combination meets your needs and goals.

Careers: Table of Contents

• Introduction
  • Welcome
  • Making Your Life Easier
  
  
• Taking Stock
  • What Do You Have to Offer a Future Employer?
  • Putting Together Your Package
  • Determining What You Want
  
  
• Making It Happen
  • Getting In
  • Making a Match
  • Shining at the Interview
  • Negotiating the Deal
  • It's a Career, Not Just a Job
  • If Nothing Is Happening
  • Encouraging Words