Salary Negotiation

Before thinking about offer negotiation, you’ll need to prioritize the elements of your offer package to determine what is most important to you.  You can combine your personal priorities with outside salary data to develop a negotiation strategy.

Offer Evaluation & Negotiation (starting on page 84) – Chapter from Carlson CBCC’s Career Guide on offer evaluation and negotiation, including:

  • Elements of an offer package that may be negotiable
  • Guidelines for negotiation
  • How to manage a negotiation session
  • How to accept or decline a position
  • An offer negotiation matrix

Videos

Negotiation Webinar (YouTube or Mediasite) – We strongly recommend this brief 11-minute webinar for anyone with a full-time job offer

Evaluating & Negotiating an Pipeline Job Offer – A webinar designed for students getting a FT offer following the completion of their internship

Salary Negotiation Strategies – A webinar designed for people are navigating a full-time job search and includes guidance of what you should do BEFORE getting the offer.

Other Resources

Offer Negotiation Matrix – Excel tool to help compare elements of different offers and quantify your priorities

Carlson Employment Report – Public report includes recent salary data, broken down by function

TransparentCareer.  to help provide salary data beyond what we have for just Carlson students.  TransparentMBA is a free resource that provides deeper, more relevant compensation, satisfaction, and work-life balance data for MBA careers. View 2,500+ companies and 250,000+ data points, all in an easy-to-use platform.  To use:

  • Sign up using your email address or LinkedIn profile – it takes less than a minute.
  • Input your work and education history – including MBA internships and offers – to generate your custom dashboard
  • Use the intuitive dashboards to plan your recruiting strategy, negotiate an offer, or see where your offer stacks up

Additional sites for salary data

Cost of Living Calculators

  • CNN Money | Cost of Living Calculator – Source: The Cost of Living Index (https://www.coli.org/)
  • Nerdwallet – Core cost of living data is from The Cost of Living Index – COLI from the Council for Community and Economic Research, or C2ER. 
  • Numbeo.com – Numbeo is the world’s largest cost of living database. Numbeo is also a crowd-sourced global database of quality of life data: housing indicators, perceived crime rates, healthcare quality, transport quality, and other statistics.
  • Payscale calculator

Report Your Offer

For any offers you receive, kindly report them to the CBCC tracking portal at z.umn.edu/offer

The CBCC is required to provide employment data on an annual basis. The information will be for the Employment Report published each fall. The data you provide will be used in aggregate and not tied to you individually. Please report all offers, whether you accept the offer or not.