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#JobSearch : Know Your Worth – Salary Negotiations. With so many people currently seeking employment, the question is, “What salary are you willing to accept?”

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With so many people currently seeking employment, trying to determine what your skills are worth can be challenging. The question is, “What salary are you willing to accept?” If you have been presented with a job offer, you may feel like you MUST accept what is offered or walk away from the position.

 

However, this is not the case. With careful c-level personal branding and these tips, you can negotiate a better salary and gain the compensation you deserve. 

Research, Research, Research

If you have a friend at the company, ask them how pay works there, and if they know anything about the position that you’re trying for.  Especially look at new employee salary, if available.  Keep in mind that their idea of proficiency may not be yours, just saying that you’re proficient in French doesn’t make it so in their eyes.

Call HR and get the name and full list of responsibilities for the position that you’re interviewing for.  You can use this information to find a benchmark position online — essentially, the commonly used title for what you’ll be doing.  This will allow you to do accurate salary research.

Through various sources online, you should be able to find salary ranges for different positions.  If women’s and men’s pay information is available, use the men’s, even if you’re a woman!  Unfortunately, it’s likely to be higher; in this way you can ensure that your negotiations are as fair as you can make them.

 

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What Skill Sets Do You have to be ‘Sharpened’ ?

Article continued …

Take into account that location is a big factor in pay rate. What’s the cost of living at the job location?  If possible, get average pay rates there and figure out what the salary range for your position is in that area, if you can’t find the specific numbers on that.

Salary Range
Often, employers like to ask about your salary requirements in advance.  They can use this factor to weed out expensive employees or to offer you less, if you were previously underpaid.  Instead of giving them this leverage, whenever possible, avoid giving any information.  State that it’s negotiable, based upon job responsibilities.

If it’s impossible to avoid completely, give the range that you’ve come up with from your research.  And when in negotiations, start at the top of that range, because you know the company is likely to want to start at the bottom. If the salary you’re offered is far below the range that you expected, verify that the list of responsibilities you used is correct.  Verify the position title.

Research has shown that women are less likely to negotiate for a higher salary than men are. It is believed that this is a factor that leads to lower pay for women.  Women, take this into consideration: you are expected to negotiate.

Think Creatively

Compensation isn’t limited to what you bring home in your paycheck. There are other ways you can be compensated for your time and can help you boost your salary negotiations. If your prospective employer won’t increase your starting salary, consider asking for a performance review in six months to give you time to prove your worth. You may also inquire about:

  • Signing bonuses
  • Stocks
  • Tuition reimbursement
  • Paid time off
  • Flexibility in your work schedule or location

These terms can bring value without increasing the salary your employer will pay. If the job offer involves a move, find out how much the relocation package is worth and if there will be any expenses on your part.  If there are going to be some, ask for additional compensation or a way to minimize your out-of-pocket expenses.  Remember, if your house doesn’t sell right away, it’s possible that you could be carrying 2 mortgages for some time. 

Company Culture is a Factor

Consider the culture of the company.  Salary and benefits aren’t everything. Don’t get me wrong, you need to earn what it takes for you to live at a certain standard, but your happiness in a job and the culture of the company is more important than any pay check that you’ll ever receive. If the company is the right fit and has what you’re looking for, then you should consider all personal and professional benefits related to working in a positive work environment.  You don’t want to be looking for a new job in two years, and the company certainly doesn’t want to be conducting another recruitment in two years.

Practice

Like all other areas of life, practice makes perfect. There is value in practicing your negotiating skills with family members or a friend before you head to the negotiating table. Make sure your loved one offers some resistance so you can practice what you will say when the time comes. Negotiating your salary can be one of the most difficult aspects of interviewing for a new job, especially for women. While you focus on your c-level personal branding when writing a professional resume, you must understand what your real worth is so you can fight for every cent you deserve.

Know Your Bottom-Line

Do ensure that you go in knowing exactly what you’re willing to accept.  Otherwise, you may feel pressured into accepting an offer that you’re not really willing to live with. You need to understand your worth and be prepared to walk away if an employer doesn’t realize that value. If you are the ideal candidate for the position, there is a chance they will offer you more once you let them know you are no longer interested. However, you need to be prepared to follow through if they don’t change their offer.

No matter what decision you make or what happens as part of the negotiation, be enthusiastic, appear gracious, and remain professional.  The company has done you a favor and has already possibly spent thousands of dollars recruiting you. Remember, everyone is a contact in the business world, and the last thing you want to do is burn a bridge.

FSC Career Blog Author:  Erin Kennedy, MCD, CMRW, CPRW, CERW, CEMC, is a Certified Professional Resume Writer/Career Consultant, and the President of Professional Resume Services, named one of Forbes “Top 100 Career Websites”. Considered an influencer, she is consistently listed as a “Top Career Expert to Follow” on Twitter and LinkedIn.

 

FSC Career Blog – December 7, 2020

#CareerAdvice : #SalaryNegoiations – A Step-by-Step Guide to #NegotiatingYourSalary …Negotiating your #Salary Doesn’t Have to Be Scary.

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Whether you’ve just been offered a job or you’re gunning for a raise, negotiating your salary can be tricky. Perhaps you hesitate because you don’t want to seem ungrateful—you’re happy to have a job in the first place. Or maybe you’re scared countering a salary offer will lead to the offer being retracted. Or, quite possibly, you just hate negotiating altogether. Whatever your reason, we’ve all been there.

Bottom line, nothing should hold you back from negotiating for the salary you deserve. Instead of backing down at the next negotiation opportunity, follow these steps to navigate the dreaded salary discussion.

HOW TO NEGOTIATE SALARY AFTER A JOB OFFER

Step One: Do Your Research On Salary Standards

First, let’s take a step back. Chances are, during your interview process, someone will ask you about your salary expectations. This moment can be super daunting! Don’t panic. Come prepared.

Before your first phone interview, do some research. Scour the web for company review websites (think Glassdoor.com) and look at comparable titles within the company. Then, look at the cross-market salaries of people similarly situated in the industry. Use salary research tools like The Salary Project™ to look at salary data across industries, job titles, and years of experience.

Keep in mind that location is often a major factor in salary. Big city roles can usually command higher salaries because the applicant pool and cost of living are generally much higher. Also note how unique the role is—is this a common position where many people do the same work? If so, there’s probably less salary wiggle room than, say, a specialized position.

Next, evaluate how far you moved the needle at your current job. Make a bulleted list of the things you’ve accomplished and compare those to your original job description. Have you exceeded expectations? If your results are tied to actual company revenue, have those hard numbers handy as well. This is where you’ll humbly explain how talented you are and how your track record proves it.

Not that experienced yet? Be sure you’re fairly assessing the work you’ve actually done instead of what you think you’re capable of doing someday. We know how tough a low salary can be, but keep in mind, you have the rest of your working life to hit your salary goal! Right now focus on hard work and learning.

Be sure you’re fairly assessing the work you’ve actually done instead of what you think you’re capable of doing someday.

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What Skill Sets do You have to be ‘Sharpened’ ?

Continue of article:

Step Two: State Your Salary Number

“Where do you want to be salary-wise?” the interviewer says so casually, you’d think she was asking if you’d like cream with your coffee.

Stay cool. This is where men and women tend to differ. Men often give a distinct number based off of market research and self-evaluation. Women tend to give a wishy-washy version of what they’d settle for. If you’ve done your market research and you’ve taken the time to validate what you bring to the table, state your requirements in a concrete fashion, then explain why you feel this number is appropriate.

When the interviewer asks if this number is flexible, simply state you’d be able to reassess once you’ve seen the entire packaged offer. Keep in mind, your “package” could include anything from company equity, vacation days, and growth opportunities, to travel, bonuses, and even awesome office perks—free food anyone?

The younger you are in your career, the more I’d encourage you to consider career growth opportunities over money. Early on, choosing the place that is going to teach you the most will give you the opportunity to learn valuable skills, making you worth more in the future.

Step Three: Counter After the Job Offer

Once you’ve received an initial offer you have some serious negotiating power. They want you, and they’d rather get to a number you’re happy with than start the search all over.

Feel free to counter for more money if they’ve come in lower than your original salary requirement. If they have no flexibility in cash resources, appeal for more vacation days, a signing bonus, more equity, or even a greater annual bonus.

Stay within reason—keep your counter proportionate to the initial offer. Remember back to when the recruiter asked where you wanted to be salary-wise? Your counter offer should fall within the ballpark range of their offer, so no one wastes the other’s time. Chances are you’ll land somewhere in the middle.

According to Linda Babcock, author of Women Don’t Ask, only 7 percent of women negotiate their salary while a staggering 57 men of men do. Those who did ask saw a 7 percent increase in compensation. So ask for more, ladies!

Once you reach an agreement, be sure to thoroughly review your offer letter, sign, and return it within 24 hours. And that’s it! You’ve successfully navigated through negotiating your compensation. Stand proud and let the real work begin.

HOW TO NEGOTIATE A RAISE (BEFORE OR AFTER A PROMOTION)

Step One: Be Proactive and Transparent About the Money

Have an open and honest conversation with your manager, months before review time. Let her know your desire for greater compensation. Don’t wait until the day of your review—by then, it’s too late.
Fairly assess your contributions. What have you done to garner a higher wage? Don’t be fooled into thinking you should get a raise before you perform at the next level. Quite the contrary—you’ll need to prove ahead of time that you are capable of more responsibility, before anyone ups your paycheck.

Be reasonable when negotiating salary by suggesting a number, then backing it up. In addition to recapping your latest and greatest projects, be sure to present research on what others in the industry are making and why you feel your work stacks up.

Once you’ve unearthed what a reasonable raise would look like, ask your boss what she’d like to see performance-wise to help you reach that mark. Let her know you’re willing to work for it.

Your salary is never a reflection of your need for more money. Rent, loans, and other bills are not the concern of your manager. Don’t assume you deserve a raise simply because you have bills to pay. Steer clear of making it personal.

Have an open and honest conversation with your manager, months before review time. Don’t wait until the day of your review—by then, it’s too late.

Step Two: Work Hard First, Negotiate Salary Later

Check in regularly with your manager to see how you’re doing. Be proactive by offering suggestions as to how you can take your position to the next level. Keep track of your own progress. The easiest way to get promoted is to do excellent work at the level you wish to be promoted to.

Don’t shy away. Take on more assignments and regularly ask your manager if there’s more you can be doing. Aim to make her life easier; resurrect important tasks that have fallen off her radar, and be proactive about getting her information she needs ahead of time.

Step Three: Network at Work

Learning to network with employees who are a level or two above you is an excellent way to recruit the support of higher-ups. If you’re perceived as having a peer network of more senior employees, you’ll be that much closer to being perceived as an employee at that level. Instead of blatantly stating you have friends in high places, simply refer to projects you’ve worked on where the stakeholders were more senior.

Follow these three steps and you’re on your way to receiving the raise you deserve come review time. The only thing left to do is persevere. Big salaries and lofty titles are the makings of serious staying power.

CareerContessa.com | BY KATE WESTERVELT  | August 9, 2018