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Offers and Negotiations

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Offers and Negotiations

Receiving a job offer is exciting, but it’s also the time to think carefully about your next steps. An offer is more than just a salary. It may also include benefits, professional development opportunities, work-life balance, and growth potential. Negotiation is a normal part of the hiring process and is often expected. Doing your research and approaching the conversation with confidence can help ensure that the offer reflects your value and supports your long-term goals. Remember that negotiation isn’t about demanding more, but rather, it’s about finding the right fit for both you and the employer. Check out the resources below to help you prepare for reviewing and negotiating your next offer.

 

Offer Letters

Here is a brief breakdown of the key components, but we have also provided a more detailed breakdown of understanding the Anatomy of an Offer Letter.

  1. Job title and reporting structure
    Confirm your official title and who you will report to. Titles can affect future promotions, external perception, and salary benchmarking. Make sure it matches what you discussed during interviews.
  2. Compensation
    Salary, bonuses, and other forms of compensation should be clearly outlined. Check whether the salary is hourly or annual and how often you will be paid. Also note any performance bonuses or incentives.
  3. Start date and work schedule
    Verify the proposed start date and expected work hours are as discussed. Some organizations have probation periods or specific onboarding requirements that are worth noting.
  4. Benefits and perks
    Look for information on health insurance, retirement contributions, paid time off, parental leave and other benefits. Some perks may not be included in the letter but can be confirmed during follow-up discussions.
  5. Equity and stock options (if applicable)
    Some startups and biotech companies may offer equity or stock options as part of your package. Check the number of shares, vesting schedule, and any other conditions attached. Understanding these terms is critical for evaluating the long-term value of your offer. More details can be found in the Anatomy of an Offer Letter slide deck linked above.
  6. Employment type and terms
    Confirm whether your position is full-time, part-time, or contract-based. Note any clauses about at-will employment, non-compete agreements, confidentiality, or intellectual property.
  7. Contingencies
    Some offers might include contingencies such as background checks, reference checks, or completion of certain certifications. Make sure you understand these requirements before your employment begins.
  8. Acceptance instructions
    Follow the instructions for accepting the offer, including deadlines. Keep a copy for your records.

 

Negotiation

You’ve almost landed your job! Here are just a few things to consider so that you can make the most of your offer.

  1. Check out these two resources to give you an overview of negotiating an offer, so when it comes to it, you can confidently advocate for yourself.
  2. Do your research before negotiating. Gather data on typical salaries. For biotech and life sciences roles, the r/biotech salary survey results may be a useful resource.
  3. It is also important to consider the whole package – the salary is just one part of it. Pay attention to equity, signing bonuses, and professional development support. The Negotiating Equity for Biotech Startup Job Offers – Pivot Points provides a helpful guide for understanding and negotiating equity packages.
  4. Many people hesitate to negotiate because they feel like it will harm their relationship with their future employer. But rather, thoughtful negotiation is viewed as expected and respected. Check out this article discussing the 5 Myths about Salary Negotiation – The Muse.
  5. Remember that negotiation works best when it’s a conversation, not a demand. Start by expressing excitement for the role, then present your requests clearly and professionally. Use data and market comparisons to justify your ask, but remain flexible. Sometimes non-salary perks like remote work, additional paid time off, or professional development opportunities may make a significant difference.

 

Offers and Negotiation FAQ:

  • Should you negotiate?
    • Yes – in most cases, you should negotiate. Negotiation is normal and is an expected part of the hiring process. Employers typically build flexibility into their offers, and advocating for your value shows professionalism and confidence.
  • When should you start to negotiate in the job offer process?
    • Begin negotiation after you’ve received the written offer, but before you formally accept it. After you receive the written offer, respond by expressing your enthusiasm and ask any clarifying questions. You can also request some time to review the offer (generally a few days to a week). Once you fully understand the package, start the negotiation conversation – usually by email or a phone call.
  • What aspects of the job are negotiable?
    • Depending on your organization, you may be able to negotiate things such as:
      • Salary
      • Signing bonus or relocation support
      • Equity or stock options
      • Professional development funds
      • Job title
      • Start date
      • Remote/hybrid work expectations
      • Paid time off
      • Equipment or resources needed for the role
    • Not every organization can negotiate on every item, but discussing these components helps you understand the full value of the offer.
  • Is it okay to ask for an extension on making a decision about an offer?
    • Yes. Requesting a short extension is common and reasonable. If you need more time to review the offer, finish another interview process, or gather personal information (i.e., moving logistics), it is appropriate to ask. When you ask, be sure to express your appreciation for the offer, eplain you want to make a thoughtful, informed decision, and propose a reasonable new deadline (typically within 3-7 additional days). Not all employers can grant an extension, but many will try to accommodate the request.
  • What if I receive multiple offers at the same time? How do I decide which one to go with?
    • Start by comparing the offers holistically, not just the salary. Things to consider:
      • Role responsibilities and growth potential
      • Work-life balance and schedule expectations
      • Organizational culture and management style
      • Professional development opportunities
      • Location/commute or remote flexibility
      • Financial package (salary, bonus, benefits, equity)
      • Long-term fit with your career goals
    • If you are waiting to hear back from another employer, you can politely notify them that you have another offer with a deadline, which may speed up their timeline.
    • Ultimately, choose the offer that aligns best with your values, goals, and the environment you want to be in.

 

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