What is negotiable?

Everything's negotiable. That doesn't mean you'll get it, but it is negotiable. First, think of what is important to you. Make a personal list of what you must have vs. what you want in your first job. Decide where you can be flexile, but also know the issues that are deal breakers for you.

Think of you "musts" vs. your "wants." If you get everything you must have, then perhaps you won't even mention items on your want list. Go in knowing you bottom-line requirements, what you would be willing to trade off, and what benefits/perks could compensate you if you hit a salary snag. Have your own goals in the negotiation clearly in mind.

Salary is not the only form of compensation that might be negotiated. Other items might include:

• The timing of the first review;

• Reimbursements for continuing education;

• Association or club memberships;

• Closing costs on a new home or a relocation package;

• Company car;

• Bonus;

• Health insurance;

• 401K, profit sharing or other retirement-savings options.

The most important negotiating leverage is being in demand elsewhere. Develop other options. Be able to walk away fro the deal. Alternatives will allow you to be more relaxed in discussions and will give you something with which to compare your preferred offer so you can make a more objective decision.

—Kate Wendleton

President, The Five O'Clock Club