Congratulations! So you’ve got an offer (or more) and you’re trying to figure out if the offers are acceptable and which one to accept. If you’re in this situation, here are a few things to keep in mind as you proceed: (1) You are the top choice for the job; that means that they want you and they want to give you what you need to be successful; (2) They won’t know what you need unless you clearly state it up front; and (3) The more knowledge that you have, the better off you will be in any negotiations.
Typically, when you’re notified that you are the top candidate for a job, the school will ask you for a list of what you will need (equipment, supplies, facilities, and personnel) to carry out your research program for the first 3–5 years. Hopefully long before you get to this point, you’ve already thought about these things, but whether you have or have not, this a good time to think deeply about your research strategy as you develop your lab. What projects do you want to develop first and what equipment will you need for those projects, and then what projects are longer term goals. This will help you and the university you’re negotiating with try to figure out how to structure your startup package. Be aware that many companies offer new-investigator discounts, so if you need to purchase a large piece of equipment, it may be best to buy it during your first year when these discounts are available.
When preparing to negotiate, you should have two versions of your list, one that is your “dream lab” scenario and then another, that is your minimally acceptable scenario. When you send your list to the university, start with the dream lab scenario, and then be prepared to negotiate down from there. Before you send your dream lab list, ask around to find out what this university, or others like it, have recently provided in startup funds. You need to make sure that your initial request does not come across as too outrageous to the university so as to damper their enthusiasm about you. One possible idea would be to start the negotiations at 20–30 percent higher than recent offers, and then be prepared to negotiate down from there.
Salary is a bit easier to negotiate because there is typically less wiggle room on the university’s part. Generally, they can go 5–10 percent higher than their initial offer, but not more. For public universities, you can often find faculty salaries online, which will enable you to see the salaries of other recent hires.
Any time you get an offer, you can always start by asking “Is that the best you can do?” Oftentimes, this question alone will be enough for them to come back with a higher offer. If they ask you for a counteroffer, then you need to be prepared to give one.
As in all negotiations, having multiple offers is the best scenario for you to have negotiating leverage. If you have multiple offers, you may be able to use that to your advantage to get your best offer.
In the end, the goal of negotiating is to get you the package that has the best chance of making you successful. Thankfully, your university wants the same thing for you, so don’t let the negotiations become acrimonious. Always approach it from the perspective that you want what is best for both you and your university because your success is their success. Although negotiating can be stressful, it is important, so don’t just accept the first offer. Your salary and research for the rest of your career will depend, in part, on your first negotiation, so do it thoughtfully and with the long-term goal in mind.