|Careers & Employment Information|
Salary Negotiation: How To Earn More Money and Respect From Your Employer
Despite how important fair pay is to most of us, effective salary negotiation is an often misunderstood and avoided topic. Current research indicates the average duration of a position today is 3.8 years. Over the lifespan of your career, how well you negotiate raises or starting pay will have an enormous cumulative effect on the quality of your life.
So why does this skill remain elusive for many career professionals?
Most of us do thorough research and prepare extensively for a job interview. We create the perfect resume, slave over cover letter drafts, and rehearse answers to anticipated interview questions. We make sure we're dressed right, have references, and are on time. But all too often, only cursory attention is given to thinking through how, when, and why we'll end up being happy with the terms of our pay.
One problem is that cultural taboos in our society make talking about money a no-no. Many of us regard money negotiation as inherently unseemly, or we feel guilty about not accepting what's been offered so nicely. Isn't haggling supposed to take place if you're buying hand-made rugs somewhere in Turkey?
We want to believe that the first offer we hear should be the highest dollar figure possible; moreover, we don't want to "rock the boat" and potentially ruin our chances of landing that great job. That voice inside of us whispers "Everything in this interview has been going great! Don't wreck it now!".
Like it or not, though, you're a negotiator. You can't get off this ride. Negotiation routinely takes place in dozens of ways in our daily lives. Given the fact that you will make or lose several thousand dollars in the span of a few minutes, learning how to respectably negotiate your pay is vital! Notice I say respectably.
Unfortunately, I see countless candidates who either come off way too aggressively, or much too meekly, for their own good. This is often because of a lack of self-preparation and practice. Many candidates also fail to realize their position in the marketplace and the position of the employer. Not good!
The good news is that salary negotiation skills can be learned or improved upon. Here are seven key tips to being paid what you're worth while maintaining a healthy respect others have for you:
? Don't believe that effectively negotiating your salary means that you must have the mentality of a used-car salesperson! You aren't being slippery, out of line or ungrateful to not accept the first figure that's tossed out. Most employers value candidates who clearly possess self-respect and confidence in themselves; these qualities are revealed through the skill and poise in how you negotiate your pay-they are aso revealed if you do nothing.
Think about it: Doesn't it make sense that if you demonstrate effective negotiation capabilities for yourself, that in turn you'll negotiate smartly for your employer, too? Hiring managers pick up on this.
? Do remember that your value is far more important than a number somewhere on a spreadsheet. Yes, this is true despite common cries that "payroll budgets being fixed, this is the best we can do" or "in this economy, you must be realistic." Employers by and large are not searching for "cheap bargains" but want value in their employees.
A common misconception is "I'll have a better chance of getting the job if I don't ask for much money-I won't cost as much as other candidates." Don't go there! Concentrate on the value you bring, not how little you cost. By the way, if you do this properly, the question of "previous salary history" should be much less relevant. This means you will have a better chance at jumping to higher ranges faster in your career.
? Don't (and I mean never) accept any form of benefits before you negotiate your salary. Why? Once some form of compensation other than salary is accepted by you, the employer has leverage in justifying why your salary should be lower. Remember to always get agreement on the starting salary first. Then negotiate non-salary benefits and special considerations afterwards.
? Do delay talking about compensation; try to discuss your value, and the specific benefits you can bring to the table, for as long as possible. The employer should perceive you as a valuable, one-of-a-kind resource-not an off-the-shelf good with a price tag.
Think of those high-end infomercials that delay revealing what the price of the offer is until the very end (if at all). The whole point of the infomercial is to draw your attention to the value of the good or service and its many different uses and applications.
Certainly something that clearly validates a gain or cost-savings of $25,000.00 would be attractively valued at $2,499.99. But would you really pay attention to an ad that immediately said its cost was $2,499.99? Probably not! The same psychology applies to salary negotiation. The longer the interview process continues, the more likely you will be regarded as a valuable resource obviously worthy of upper-range pay.
? Don't accept any offer, no matter how lucrative, on the spot. Instead, express your continued interest in the position and how you clearly see yourself making contributions (specify them one more time again). Then always ask for 24 hours to consider the offer. Certainly a day will give the hiring manager time to find any necessary "wiggle room", if need be.
Be passionate and excited, but don't lose your objectivity-any position that will be the center of your daily professional life for years to come won't melt in 24 hours. Right?
? Do remember the old axiom "he (or she) who speaks first loses." Wait until an offer has been made-but don't respond immediately. Remember that in many cases, what is initially offered to you may be the lowest figure the hiring manager dares to put forward.
This is mission critical territory: Often, even casual remarks made by you constitute implied acceptance of the offer...Which can quickly become explicit acceptance as the conversation moves on. Don't let this happen! Instead, intentionally steer the conversation back to the responsibilities of the position. Who will you be supervising? What are some tangible, specific contributions you see yourself making? Where do you picture yourself in the organization in the future?
The greater long-term picture you create, the greater the likelihood you will negotiate more effectively. You can only really begin to negotiate after you have clearly brought to life realistic present and future scenarios.
? Don't over-negotiate. How do you know when to recognize what is too little or too much? By researching your market ahead of time. Don't just go to www.salary.com and think you "should" be earning a certain dollar figure without taking into consideration the unique opportunities every employer possesses. This is not really true research.
A salary is compensation paid for services performed. Your salary should be commensurate with your skills and experience built yesterday, but negotiated for the work you will be doing today and tomorrow. Remember, you don't get what you deserve in life...You get what you negotiate!
Would you like more help? Check out this month's HireWorks Recommends for some great resources.
Special Offer! This month we will review 10 Resumes at no charge. Find out what improvements you can make to get the attention of hiring managers and land that important first interview! Click Here to submit yourself to be among the first 10 people to respond!
Biography: Lucia Apollo Shaw is the President and CEO of HireWorks, Inc. HireWorks is a professional search firm specializing in the Life Sciences. HireWorks offers research services, contract staffing, and permanent placement services.
She has been helping her customers for nearly 9 years - working both as a third party recruiter for CDI Corp (staffing customers like IBM), Trilogy Consulting (now Venturi Partners) staffing the Biotech and Pharmaceutical industry and in places like Duke University where she was a corporate recruiter and Team Leader for recruitment for Duke University Hospital. Lucia earned a B.A. from the State University of NY (University Center at Albany) and pursued Graduate Studies in Public Administration at the Sage Graduate School in Albany, NY.
To subscribe the The Hiring Insider please visit http://www.hiringinsider.com
Franchising Offers NO Guarantees --
You have to ask --- IS a FRANCHISE FOR YOU?
Rejection Got You Down in the Job Search?
REJECTION IN THE JOB SEARCH
Are You Winning the Talent Wars?
How many times have you heard or read, "Our employees are our greatest asset"?
Hospital Staff at Great Risk of Attack and Injury Whilst at Work
There are millions of people working extremely hard every day in the UK to ensure that the public are healthy and recover from illness or accidents. Countless medical staff around the country study hard to become doctors and nurses and then work long hours and endure stressful situations in order to save the lives of men women and children every day. These people are present day saints and have chosen the caring professions because they genuinely want to help others. Sadly though, their efforts sometimes are not appreciated.
The Importance of Background Verification
Today's society has created an environment that requires business owners to be armed with numerous tools. Many employers currently spend little time verifying the accuracy of employment applications and the cost of not doing normal due diligence can be staggering.
Reinvent Your Career In Five Simple Steps
The phrase "reinventing yourself" seems to be popping up all over lately. Just a few days ago a friend asked me how he could do it without starting completely over. His concern was, "How do I move in a new career direction without sacrificing all the skills and experience I've worked so hard to achieve?" The underlying question is, "Is this even possible?"
A resume is normally the first contact point between an employer and a job seeker. It serves the purpose of providing a summary of why a candidate is suitable for a job (cover-letter) and his relevant qualifications/experience.
Goal Setting - Road Map To Achieving Your Career Goals
Goal Setting & Research
Job Search: Time Management
There is an old adage that "Looking for a job is harder than working." How true! The rigors of job search are magnified by the turmoil we experience: lack of self-confidence, humiliation, financial pressure, and the undercurrent of emotions that color all we do: fear, anger, depression, anxiety, loss.
Job or Career
At this present time I have a job. It pays some of my bills, and again I have a job. I don't think of my job as a career because I don't have a passion for it. I dread going to work at times, so I know this isn't a career for me. I'm working at a clinic at the present time, and it's a stressful job, and not really my cup of tea.
Dont Get Caught In The Security Trap
The day you begin to think of your job in terms of the security versus the opportunities it provides is the day you start to put the brakes on building your career.
How To Become a Mortgage Broker
The mortgage industry accounted for $1,815,949,279,000 in loan transactions in 2004. That's one trillion, eight hundred and fifteen billion, nine hundred and forty-nine million, two hundred and seventy nine thousand dollars... in one year!
It May Be Time to Walk in an Employers Shoes
If you are in a job search and aren't receiving viable hits, it's time to walk a mile in an employer's shoes. Okay, I realize what you may be thinking. For just one day, you would like an employer to walk in your shoes so they can be sympathetic to the stresses you are going through on a daily basis. That makes sense, since what most of us want is to be understood by others.
Genes and Work Ethic
If you have good genes, you are blessed. If they are exceptional, you might be successful on that alone.
Using The Internet For Job-hunting
The Internet is a very useful tool for job seekers as it is a great source of information. Also, taking into account of a more wired world, getting online has never been easier. People can cost-effectively get Internet access in public libraries at broadband speeds. But with the fear of information overload, many job seekers do not fully utilize the many advantages of the Internet. This is never a good development.
Serious Business Networking
As they always say "It's not what you know, it's who you know."
Searching for an IT Job
Looking for an IT job is one of the easiest to perform due to the incredibly high demand in the IT field. As the Internet grows, corporations network through Intranets ? even the advancement of science has the demand for anyone with IT skills at an all time high. Computer technology continues to advance, change and grow and, in turn, increases the demand for new and diverse IT jobs. A job search for a person with the right skills is not only easy, but can be quickly done with the accessibility of online IT employment web sites.
5 Steps to a New Job
The economy is picking up, budgets are new, positions are open and companies are hiring. Now is the time to rev up your job search efforts. Use these tips to dramatically improve your results.
Working In Iraq: Is It For You?
The US Army Corp of Engineers and numerous private companies are still looking for people to help rebuild Iraq's infrastructure. In fact, one Web site reports that there are currently 60,000 jobs available in Iraq for US citizens. And the pay can be very good. Some civilian contractor jobs start at $80,000. Others pay even more. A truck driver earning $30,000 in the US may be able to get a job in Iraq paying $70,000, $80,000 or even $90,000 a year.
Today we hear much talk of the 'global village'. People are have more opportunities to travel and live abroad than ever before. However, when you leave a familiar environment and go for an extended stay somewhere quite different, you could experience a whole range of unexpected and unfamiliar feelings. Many of these emotions can be very strong, making you feel out of control and confused: just the sort of problem you could do without as you try to cope with a new job, a new way of life. This is the experience we call 'culture shock' and its course is well understood and documented. So, the first thing to remember is that culture shock is normal, that it has clearly defined stages and that, provided you understand what is happening to you, you should be able to cope with it.
|Home | Site Map | Careers | Australian Domain Names | UK Domain Names | Investment Property | Sydney Web Hosting | Email Hosting | NZ Website Hosting | NZ Domain Names|