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#CareerAdvice : #JobSalary – 4 Times It Pays to Accept a Lower #Salary …Before you jump at that Higher Salary, there are Certain Circumstances where Accepting a Sower Salary actually Makes more Sense. Here are a Few you Might Encounter.

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In the course of your career, you’re apt to land in situations where you’re choosing between two jobs, and two distinct salaries. Most people will naturally gravitate toward the higher income, because, well, money is important, and there’s no such thing as having too much of it. But before you jump at that higher number, there are certain circumstances where accepting a lower salary actually makes more sense.

Here are a few you might encounter.

1. When you’ll get better benefits

Workplace benefits are an important part of your overall compensation package, so if you’re looking at a lower salary from a company whose perks are outstanding, that’s reason enough to consider that offer. Furthermore, a superior benefits package can actually save you money, even when you end up taking a hit on salary in the process.

Imagine you’re choosing between two companies. The first is offering you a $65,000 salary and health insurance that’ll cost you $300 a month. The second is offering you $62,000, but health insurance that’s completely subsidized and free to you. Suddenly, you’re actually $600 ahead by taking the second offer. Therefore, before you accept an offer on the basis of it coming with a higher salary alone, take a look at the whole picture and recognize the financial value your employee benefits might offer.

4 Benefits You Can Negotiate (and How to Do It!)

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2. When you’ll enjoy a more favorable company culture

Company culture can play a huge role in your day-to-day satisfaction on the job, so if taking a hit on salary means being happier at the office, it’s probably a hit worth taking. Not being content with their company culture is actually the No. 1 reason younger workers quit their jobs today, so if you’re offered the chance to work in an environment where employees are valued and respected, it pays to go for it.

11 Words and Phrases to Use in Salary Negotiations if You Want to Succeed

3. When there’s ample room for growth

Career growth should be a major factor in any job-related decision you make. Therefore, if you’re offered a slightly lower salary by a company that’s expanding rapidly and tends to promote workers internally, accepting that deal might pay off in the long run.

How do you know what growth potential your company has? It’s simple: Ask. Find out how many jobs the business has added over the past year, and how many it plans to add in upcoming years. These are questions you’re allowed to ask during a job interview, and if you have reason to believe you have more long-term potential at a company that’s paying less at present, don’t hesitate to join it.

4. When there’s a better work-life balance

Only 30% of employees today are satisfied with their work-life balance, so if you’re offered a role whose demands seem reasonable, it pays to consider it. Though a growing number of companies today are becoming open to flexible work arrangements, such as telecommuting, there’s a large chunk of businesses out there that are sticking to a more rigid model. And finding a position where you’ll get the former over the latter is reason enough to accept a little less money.

Though money does, and should, play a substantial role in our lives, it certainly isn’t everything. Before you rush to take that job with the highest salary, think about the perks that might come along with making a bit less money. You may come to find that taking a lower salary makes you happier with your work situation on the whole.

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Your #Career : #SalaryNegotiations – 5 Ways to Ask for a Raise When Your #CoWorker Makes More Than You…Talking about Money is Hard Enough, but What If your Co-Worker Makes More than You?

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Talking about money is hard enough. But what if you find out you make more than your co-worker? Or, worse, what if your co-worker makes more than you?

Even if it’s frowned upon, talking about salary is legal and allowed. Sharing your salary information can ensure you and your peers are being compensated fairly.

The younger you are, the more likely you’re to share earnings details. According to a Cashlorette survey, 30 percent of millennials have spoken to co-workers about how much money they make.

Regardless of age, asking for money can be uncomfortable if you don’t know how to go about it the right way. Here’s how to ask for a raise in five steps.

1. Compare Apples to Apples

It’s one thing to find out a manager makes more money than you, but it’s a different situation when it’s a peer with the same title and experience. It’s time you build your case on why you should make more money.

“Do you have similar responsibilities and workloads?” asked Jessica Dalka, creator of Chicago Planner Magazine. “For example, if you’re both account managers, do you have similarly sized clients? If you both have midsized clients and your co-worker has eight but you only have four, perhaps that might be why they make more.”

If your co-worker handles more work, has been there longer or has more years’ experience, you’ll have to build your case with other information.

6 Questions to Ask Yourself Before Negotiating a Raise

2. Stay Calm and Collect Data

Don’t barge into your supervisor’s office and demand a raise simply because someone you know earns more than you. Find out if you deserve it by gathering data.

“You should come prepared with salary data by checking Salary.com or Glassdoor,” said Marielle Smith, a vice president at GoodHire, an employment screening company. “You shouldn’t use your co-worker’s bigger salary as a reason why you deserve a raise. This tactic will do little to convince a manager that you offer the same or more value to the company.”

Talk to other people in your industry that aren’t at your company. If you find that you’ve been lowballed compared to your networking peers, don’t fret. It’ll give you a ballpark estimate on how much to ask for when discussing your raise.

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3. Wait for the Right Moment

It’s important to know what your company’s track record is when it comes to raises.

If you’re due for an annual review, you might have a raise coming your way. You’re already going over your performance and job expectations, so if your supervisor believes you’re a valuable asset to the company, a raise could be coming without you asking for it.

For some jobs, though, you do need to ask for a raise. If you aren’t set for an annual review anytime soon, a stand-alone meeting might be necessary. But you should still consider planning to have the salary talk at the right time.

Jesse Harrison, founder and CEO of Employee Justice Legal Team, has experience asking for a raise, even as a lawyer. And the timing was everything.

“I waited until after I had made a big break and won a case and the environment was at low stress levels — I even waited for a sunny day,” Harrison said. “It can be helpful to let the initial anger of earning less than a colleague fade away so you can recognize when the timing is right. A clear head will do wonders for your request.”

4. Prepare Your Case

Before your meeting, use your accomplishments to illustrate your point. Showcase the work you’ve done, the extra responsibilities you’ve taken on, and how the company has benefited from your employment.

If you’re having trouble coming up with valid points, you might need to wait a bit to ask for a raise. This way you can start to document a stellar track record.

5. Be Ready to Negotiate

It’s good to keep in mind a number. This could be a percentage increase, a dollar figure you’d like to hit or a mix of a pay bump and more perks, such as extra vacation days.

You might need to negotiate your salary with your supervisor. If that’s the case, start with a higher number than you initially wanted. Your boss will either approve, and you’ll get more money than you expected, or you’ll haggle until you’re both happy.

Salary Negotiation Scripts For Any Job

What to Do if You Don’t Get a Raise

Even if you’ve prepared for your meeting like it’s the SATs, you’re not guaranteed a raise. This could be for many reasons that you might not have a say over. So it’s important to stay focused on the goal, even if you didn’t meet it this time.

If your supervisor tells you that a raise isn’t in the cards, find out why.

If it’s your performance and workload, you can assure your manager you’re ready for the challenge of meeting new goals. This will give you the opportunity to have something to work toward and help set you up for a raise at another time.

If your boss says you can’t get a raise right now because it’s not in the budget or your position compensation is maxed out, you’re in a different kind of pickle.

At this point, if you’re doing your best work and still unable to get more money for it, you might want to consider looking for a job where you can earn more money.

If you’ve networked with industry peers and checked out salaries for your position, you’ve got a lot more negotiating power when you head into new job interviews. Use your research to your advantage, even if the job you’re in right now isn’t working out.

But don’t give up on your current job just yet. If you like your company and your co-workers, keep trying to get the pay you deserve. Chances are they can eventually find a way to compensate you fairly and still fit it in the budget.

 

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Your #Career : 7 Reasons Why Your Salaried Job Is Like Crack Cocaine…Are You Ready to Start Conquering Your Dangerous Addiction to Comfort?

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Remember, though, that the first step to recovery is to admit you have a problem. If you are seriously interested in becoming a business owner, maybe these words will help: Start each morning with the following mantra — I am a salary addict. From there, you will eventually gain strength and, maybe one day, kick the habit.

young green plant in soil for agriculture, business growth or environment concepts (isolated on white background)

From time to time I work with individuals who are perfectly positioned to become business owners. They have lots of money, no debt, great skill sets, likable personalities and a true desire to break out of the employee mentality.

Related: Are You Ready to Start Conquering Your Dangerous Addiction to Comfort?

However, at the end of the coaching process, some still decide to return to their jobs. And, of course, for anyone who is a business owner, this is exceptionally hard to understand. Why would anyone spend his or her life preparing for freedom, yet once that opportunity arose, return to a salaried job?

There is only one reason that I can think of: Salaried jobs are like crack cocaine. Okay, I may sound like I’m a bit off my rocker, but stay with me. What is it like to be addicted to a drug like crack cocaine? Recently, when I read about drug addiction and discussed it with a drug-counselor friend, I learned a few things. And here’s my bottom line: You will be amazed at the similarities between a salaried job and drug addiction.

1. Each time you do drugs, you get high.

This is also true of getting paid. Science has proven that the same part of your brain, the reward center, is stimulated by both drugs and money. So, every time you get paid, you are essentially feeling a similar satisfaction to that of a drug fix.

2. To feed your reward center, you need the drug on a regular, predictable basis.

Not knowing where your next drug high is coming from is nerve-racking; the same can be said of a salary. If you have ever been laid off, fired or unemployed for some other reason, you know well what I am talking about —  that intense feeling of worry and uncertainty over when you might receive your next paycheck.

It’s for this same reason that people feel scared to leave their jobs, of their own choosing. The fear of losing that regular paycheck overshadows the desire to break free.

Related: 4 Steps to Deal with an Employee’s Substance Abuse Problem

 

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3. You set up your life around the drug.

Addicts allow their addiction to control their life. It affects how they spend their day, every single day. In some cases, the drug even takes priority over family. Sound familiar?

Can you think of any times in your life when you let something control you that much? For many people, this sounds exactly like their job. Salaried work often takes priority over everything else in life, even family time. And it all goes back to the feeling that you need that regular, predictable salary.

4. If the drug is suddenly removed, you go into withdrawal.

You miss it — both physically and mentally. You often feel depressed and lethargic, as though you can’t live without it. This is much the same as what happens when a salary is suddenly taken from someone.

No, you won’t become physically ill, with headaches, nausea and other symptoms of drug withdrawal, but you will feel helpless and anxious, as though you can no longer provide for yourself. You want the salary back, just as you would the drug.

5. It is hard to build wealth as a drug addict.

When you’re addicted, you have hard, fixed expenses built around your drug habit. You know how much you can afford and set up your lifestyle around the supply of drugs. Generally, you spend what you make. Doesn’t this sound a lot like someone with a salary?

With a salary, you probably have weekly, monthly and yearly budgets based on what you make. It’s hard to accrue wealth beyond these amounts because so much of your time and effort are spent making, and then surviving on, the amount of money that your salary allots you each year.

6. If you don’t have the drug for a while, you may begin to relapse.

Your addiction may cause you to panic and become desperate for another hit. And sometimes you’ll find it quickly. But, other times, you’ll suffer, not having that fix to depend on. If a stranger offers you drugs, even for a little while, the reward center in your brain will scream at you, and inevitably you’ll say yes

The same is true of a job offer after you’ve gone a long time without a salary. You’ll be incredibly tempted to accept, giving up your freedom for that promise of another paycheck.

7. As a drug addict, your drug habit controls your life.

You know you shouldn’t use drugs, but when you’re addicted, you can’t help yourself. Likewise, someone with a dream of business ownership may know he or she should pursue that dream, but cannot help but return to the “security” of a salaried job.

This is how many people end up at retirement with too many “what ifs” instead of the joy and freedom that come from knowing you have lived your best life, free from the control of a salary.

Over the years, I have seen thousands of people try to kick the habit of salaried employment and become masters of their own destiny. Some manage it; others don’t.

Related: The 6 Signs You’re Tech Addicted and What You Can Do About It

Remember, though, that the first step to recovery is to admit you have a problem. If you are seriously interested in becoming a business owner, maybe these words will help: Start each morning with the following mantra — I am a salary addict. From there, you will eventually gain strength and, maybe one day, kick the habit.

 

Entrepreneur.com |  June 9, 2016  |  Rick Bisio