“Show me the money!!!”
It’s a fun thing to say! It even got Cuba Gooding Jr. an Academy Award.
But we all know that a Job Negotiation is more than just the money.
The next time you are involved in a Job Negotiation – whether it is a promotion or a role at a new organization – consider creating a “scoring system” for yourself. This can help guide you through the process of getting most of what you really want.
Begin by listing all of the aspects of a Job Offer that are important to you. I recently had a group of students at the University of Maryland do this and they came up with about twenty items – everything from compensation to family leave to vacation time to flexible work schedules and more.
As you make your list, think broadly and include your thoughts about the importance of the new job being a place to learn and how it will impact your career trajectory.
Once you make your list then choose your top three Job Offer Issues and rank them.
Next, think through the tradeoffs for each so you can do some comparing and contrasting. For example, if Compensation, Flexible Work Schedule, and Vacation make your top three, then look at various dollar ranges for comp, number of days per week required to be in the office, and number of weeks of vacation.
For example, which would you prefer:
*Comp of $200,000 with two weeks vacation and three days/week in the office
*Comp of $180,000 with three weeks vacation and two days/week in the office
*Comp of $170,000 with four weeks vacation and complete virtual work
Of course, you want $200,000 with four weeks vacation and complete virtual work – but that might not be possible.
Working through these tradeoffs prior to negotiating your Job Offer will put you in a stronger position to make counter-offers with your employer as you explore what is most important to them. In the end, hopefully you can come up with a win-win.
Your scoring system will need updating as your career progresses. At some point, issues that used to be important to you may become less important. And new items might show up on the list.
Taking the time to create your Job Offer Scoring System can help you maximize your overall job satisfaction and life fulfillment. Try it out the next time you go for that promotion or new job.
