You have succeeded and been given the offer! But it is not quite what you expected. Now you need to negotiate. Keep in mind in some cases the offer is what it is, the managers will make it clear if that is the case. In other instances, the manager is waiting to see if you are going to counter offer and whether or not you know how to negotiate.
Here is our list of things you can negotiate and things you cannot.
Salary is something that can be negotiated. Typically, there is a salary range for a position, if you are on the lighter side of experience and qualifications you will most likely be offered the low end of the range. In that case negotiation is not a great idea. Take the job and work your way up.
However, if you meet all the requirements and have many years of experience and can bring business with you, it is more likely you will be offered the high end of the range. If you are working with a recruiter, they should be able to help you out with obtaining information on what the high and low ranges are.
Managers also look at what you currently make. If you make $45,000 and the range is $55,000 – $75,000 you are going to probably be given the low of the range at $55,000. A standard offer is usually 10% more than your current salary. On this note, never lie about what you currently make. We have seen Human Resources ask for w-9 information from candidates.
If the salary offered doesn’t meet these guidelines than you are in a position to start salary negotiations. However, be clear about what you are looking for and why, there needs to be a clear point where you would be satisfied.
Bonus/commission Most commission structures are not negotiable. The commission plan is typically standard for everyone. A good sales representative works smart and hard to earn high commission. However, there are instances, if you are walking away from commission or bonus payout, that you can negotiate that into your offer.
Car allowance/corporate car – Pharmaceutical companies offer a car or sometimes car allowance, this is not usually a negotiable benefit. It is part of a corporate policies and standard for everyone. Sometimes you are offered a choice of a vehicle.
Stock Options Most entry level pharmaceutical jobs will not offer stock options. However, the more senior a position this may be part of the offer package. The recruiter you are working with can determine how many shares are offered. This is an area where you can negotiate more stocks.
Tuition Reimbursement Tuition reimbursement is a great benefit and if a company offers it, can be negotiated into an offer. Most companies pay the tuition after the semester or the courses have been taken.
Vacation days This is one of the most asked about benefits and is a tough one. Vacation days are many times part of the corporate policy and cannot be rewritten. Usually the number of years’ experience determines the number of vacation days.