During her senior year of college, Samantha Lenger received two job offers at the Grace Hopper conference for women and nonbinary people in tech. Despite being excited about the offers, she knew it was time to negotiate and sought advice from her mentor. As a member of the oldest cohort of Gen Z, Lenger is among the workforce's emerging leaders who are leading conversations around salary transparency and pay equity. According to a Joblist survey of nearly 30,000 job-seekers, 64% of Gen Z job-seekers and 55% of job-seekers overall won't apply to job postings lacking wage or salary information. Lenger sought salary information from her friends and network, which can make the conversation feel less invasive. Similarly, Sarah Wang, a communications major at UCLA, used a similar strategy to negotiate internships while still in school.
Sarah Wang had a strategy to negotiate internships, which involved following up with her contacts after receiving an offer, thanking them, and asking for insights into whether her offer was comparable to what they received. She also used her research to negotiate with recruiters by stating that previous interns were able to negotiate for a higher amount, and she believed she was eligible for the same. Increasingly, college seniors are considering internships after graduation, and having a competing offer can be a significant negotiation boost, as both Lenger and Wang experienced. They used their offers to negotiate for more money and better packages at their preferred companies. Additionally, beyond base salary, it's essential to other terms and conditions of the job, such as benefits and work hours, before accepting an offer.
When you receive an offer in writing, it's essential to consider what else may be negotiable, such as the job title, start date, moving stipend, sign-on or retention bonus, and tuition assistance. Brooke Thadeus recommends going back to the recruiter with an email outlining your negotiation points, including a mention of any competing offers and a list of your most relevant qualifications to back up your desired salary. It's also helpful to list a dollar amount roughly $5,000 higher than your target to give you room to negotiate. Recent grads interviewed by CNBC Make It All plan to continue negotiating throughout their careers, as it's rare to receive the highest amount first. Despite the current economic climate, hiring teams still expect a negotiation, even if there is less room than before. Samantha Lenger advises new grads to feel empowered to see what's on the table, although it's unlikely to expect $30,000 more today.