Career Success Guide

Salary

Calculate Take Home Pay

Negotiation

Annual Salary:

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Many employers expect potential employees to negotiate their salary and benefts and will not make the frst offer the best offer. Others will not have the fexibly to negotiate. Be prepared for either situation. There is no substitute for knowing the facts and using them to your beneft. Timing is important. Until you have a clear understanding of the job and have had an opportunity to discuss your qualifcations, it is premature to discuss salary. However, an employer can bring it up at any time during the process. To avoid being caught off guard, be prepared. Know Your Worth Do your homework; research the market salary range for someone with your level of experience in your target industry located in the same geographical area. Federal law requires each state to post quarterly labor market information online for public viewing. Check out our favorite salary tools on Career Services StoutCloud site under “Navigating Job Offers and Salaries” to complete the following tasks: • Research labor market information to determine salary levels of like positions and experience levels. • Evaluate realistic personal salary requirements. How much do you need to earn a living? • Develop a salary range (not too broad) with a high, low, and middle range. • Assess your skills and experience level (co-ops, internships, education level, additional experience, etc.). • Location: become familiar with the cost of living for the local area. • Examine employers hiring history, check employers’ websites for salary information along with other popular resources like Glassdoor and Indeed. • Determine how you can beneft the employer along with your role in meeting the employer’s goals.

Annual Average Merit Pay/Bonus/Profit Sharing: 35%Taxes/Social Security:

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Insurance Premiums:

Retirement/Life Insurance:

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NET INCOME

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Monthly Budget

____________________________________________________ Review cost of living comparison charts to accurately plan by location. Housing (rent/mortgage): ________________ Utilities (power, water, trash): ________________ Vehicle payment: ________________ Fuel/oil change/tires/repairs: ________________ Food (groceries, lunch, restaurants): ________________ Clothing/shoes: ________________ Entertainment: ________________ Savings: ________________

TOTAL MONTHLY EXPENSES

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