Showing posts with label salary. Show all posts
Showing posts with label salary. Show all posts

Sorry, Recruiters: My Salary Is None Of Your Business

• 2-minute read •
I am trying something new this year. For me, it is a big step and a scary project but I'm doing it anyway. I am starting a job search even though my job is secure (as far as I can tell) and I enjoy it.

I can tell that I am unlikely to stay in this job for more than another year or two at most. There is no path to upward advancement here. The working atmosphere is pleasant but I am already at the top of the pay range for my job.

That's why I'm looking around. It's kind of like leading a double life. I enjoy my co-workers but I haven't said a word to them about my job search and I'm not going to.

How to answer the interview question ‘What salary are you seeking?’

It’s a tricky interview question since you want to get the highest salary you can without killing your shot at the job.
There may not be a job interview question more sensitive than “What salary do you want?”
Not only is it hard for many people to talk about money, but the wrong answer can instantly knock you out of the running or lock you into earning less than you deserve.

When Your Salary Makes You Too Expensive


Q: What can I do when my salary history makes me really expensive in my current job market? I don't want to take a huge salary cut, but I am not having success interviewing.

A: Ironically, years of experience or having valuable expertise can sometimes put you in a tough spot and leave you feeling frustrated and discouraged. You cannot control where your salary history places you in the job market in your geographic location - other than to move. On the other hand, there are some actions you can take that may help:

Find out if the reason why employers are reluctant to interview you is related to your salary history, as you assume. You may be right, but there might be other reasons, too. In any case, the best way to gather this information is to persist in asking for it.

Since you may not get an interview if the employer uses salary history as a screen, try different ways to get in front of their key decision makers. Perhaps through networking or informational interviews, you may find a receptive senior-level contact. In that case, you can use that personal meeting to directly address their concerns about your compensation expectations, impress and interest them in your skills, and turn them into an advocate in the interview process.

Try to target your job search on those companies who pay higher than the norm for your position. These might be local offices of multinational companies, or in an industry that has to pay more to attract talent (such as high-tech firms).

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Salary Negotiations


Salary negotiation is an important aspect of any job situation, and is often perceived as the trickiest part. Most common doubts raised are " Is it safe for me to negotiate a salary without jeopardising my chances of getting a job?", as well as "When and how do I negotiate my salary?". 

The situation in which a salary is negotiated could vary depending on whether the individual is a candidate with a certain degree of work experience, applying for a position in a company, or is a candidate with no prior work experience, applying for an entry level position in an organisation. Another situation could be an employee looking for career advancement in his current organisation. The details of each of these situations might be different, however certain basic principles and rules regarding salary negotiation remain the same.

In this article, we attempt to provide broad guidelines on how to negotiate a salary when applying for a new job. This should be useful in providing tips on salary negotiations for other situations as well.

A salary should be negotiated if you perceive the offer is inadequate 
The first question to be answered is "Should a salary be negotiated at all?". The answer to this is-Yes, if the offer made is inadequate in your view. To arrive at that, it is important that you, the candidate, applying for the job, do your homework in terms of knowing the salary range for similar positions in other organisations within the same industry, and across industries but within the same functional area. For example, when applying for the job of a brand manager in a food company, you need to be aware of the salary range as a brand manager in marketing in other organisations across industries i.e food, cosmetics, detergents etc. That is find out the likely salary for similar positions in your field. Most reputable corporations offer a standard salary for a type of job. You, as a job applicant, need to find out what that rate is.
Do not enter into a salary negotiation for an ego kick to see how far you can go in raising your price with an organisation, especially if the offer they make is within the salary range for that particular position.
For first time recruits just starting out in their careers, it is important to communicate that you are more interested in the job where you can prove yourself and contribute to the 
organisation, rather than in a specific salary. The organisation, in any case, would probably have a certain number of jobs in definite salary brackets.
This is normally true when company representatives come to interview on campuses of 
educational institutes.
Recruiters also may get put off if they perceive that the candidate is too salary-focussed ! 

Discuss salary only after you have received the job offer 
The next question that comes to mind regarding salary negotiations is when to negotiate a salary. Should it be done during the interview for example, when the interviewers ask the interviewee " Would you like to ask us any questions?". Or should it be left to a later date?
The answer here is that unless you know or have some indication that you are going to receive the job offer, salary negotiations are irrelevant. Salary negotiations, during the interview or at any time before the interviewers have decided to select you, will only create a negative impression.
There is a saying in sales that you should never discuss price before you have established value. This applies to job situations as well. Unless the prospective buyer (employer in this case) is convinced that you provide a suitable match for their job profile/requirements, any salary discussion is meaningless.
It is better to postpone discussion of the salary till as late in the selection process as is possible. In the meantime try and present the value you offer to the employer and understand the requirements of the position so that you can arrive at a figure or a range for an acceptable salary. This will allow you to negotiate salary later on, meaningfully, once you receive the job offer. 

Use the problem-solving approach in your negotiation 
Once you have received the job offer take some time to think over it. Use this time to prepare for the negotiation process. 

List out the issues to be discussed or negotiated.
These could be for example, the structure of your salary package and the amounts under each head, benefits such as health, housing, leave, bonus, retirement benefits etc. 

Set your priorities 
Decide on your minimum requirements i.e. the conditions which need to be met for you to accept the offer. Think about what you are willing to trade off. You will need to do this to be able to appear flexible in your negotiation otherwise you may scare away the employer with too much aggression and rigidity. Remember the employer could still withdraw the job offer, so be cautious. 

List criteria to justify your stand To give you a high probability of succeeding in your negotiation, you need to set criteria to appear objective in your requests. It is better for the organisation to realise that your concerns are based on real needs and comparable industry standards instead of arbitrary demands for higher remuneration. 

Be aware of your strengths
This could help you gain confidence during the process of negotiation. If the organisation really needs you, highlighting your strengths and achievements will put you in a better bargaining position to get the employers to consider your requests seriously. Remember that your request should be based on what you can do for the organisation and what you are worth. This could also re-iterate to the employer that your profile and theirs provide an appropriate match.

Follow your own style of negotiation
Appear objective and balanced. Do not get too aggressive because you should not scare the employer away! Unless you have some alternative firm offer, it is inadvisable to negotiate in an inflexible manner. 

Try to be in a win-win situation 
Use this problem-solving approach to arrive at a win-win situation at the end of the salary negotiation process. Look for a solution where you and the employer benefit, instead of a zero-sum situation where you win/I lose or the other way around. Look for common platforms even though the issues might appear conflicting. If your expectations are reasonable it should ensure success in your negotiations and leave all parties concerned feeling satisfied about recruiting you. 

Use body language to communicate enthusiasm for the job
On the day of the negotiation, show your pleasure at receiving the job offer. Clarify aspects that you need to and highlight your concerns/reservations. Yet, let your body language express your enthusiasm and eagerness for the job and the organisation.

Confirm the final offer
Once the negotiation process is over, repeat the final offer as you understood it. And express your intention to formally accept as soon as you receive the final offer letter. If you are not going to accept, be tactful and diplomatic on the reasons why. Send a letter also regretting that things did not work out. In a nutshell, leave a positive impression of yourself.
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Email: jobs@aarenconsultants.in

How to Answer Salary Questions

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Americans aren't keen to discuss money. We like making it and we like spending it, but money doesn't belong in polite conversation. It sits on the shelf of forbidden topics, alongside politics, religion and sex.

Yet, one of the requisites often found on a job posting is, "Include salary history."

You haven't even met anyone at the company yet and you're expected to divulge information only you and your bank account know? How rude.

Like it or not, salary talks are part of job hunts, and often they arise in the early stages of the game. For a topic as sensitive and tricky as money, how should you proceed?

And what if you don't?
When a job posting tells you to include salary history or requirements on your résumé, you have only two choices: do it or don't. Sure, you can ignore it or dance around it by writing, "Salary to be commensurate with experience and responsibilities." That doesn't change the fact that you haven't handed over any hard numbers. And that's fine, as long as you realize you might remove yourself from the running, says Sue Fuller, director of talent management for EDL Consulting.

"When a job posting requests salary history, the purpose is to identify candidates who are in a viable compensation range," Fuller says. "In these instances, it is important to show salary history. Otherwise, the risk is to be excluded from consideration."

Job seekers aren't hesitant to hand over financial information only due to manners; they are afraid to hurt their chances of getting a good salary or even the job. For example, if your current income is higher than what this job will pay, the employer might assume you won't take a salary cut and remove you from the pool of applicants. Conversely, if your salary is well below this job's rate, the employer can lowball an offer. Either way, you lose.

The interview
Even if you're able to sidestep the issue during the application process, you might encounter it during a phone interview. Unless you like long, awkward silences, you'll have to address the issue.

"The best answer is to tell the employer what you are currently earning [or most recently earned]," Fuller suggests. "At that point, compensation is not at a negotiation stage; it is at the information gathering stage. This is an important distinction to understand."

If you're asked what you expect to earn, not what you did earn, Fuller recommends you give a realistic range for the position. This gives the employer an idea of what you want and can lead to a discussion of whether that pay aligns with what he or she had in mind.

Regardless of when the topic arises, Fuller stresses that job seekers be honest about their salary history. Employers can verify your salary in a matter of minutes these days, so lying only serves to make you look bad. Just because you give a high number doesn't mean the employer will match the amount, Fuller says.

The real purpose of salary talks in the beginning is to get a clear picture of what you're worth and what the company can offer. This is why Fuller advises as much flexibility as possible on your part.

"When an offer is made, the candidate can negotiate several tangible and intangible factors that may include a six-month review, incentives, benefits, career development and/or flexibility," Fuller says. "Candidates should realize that value proposition [is about more] than just dollars and that companies will reward employees who perform."

The dos and don'ts
As with any portion of a job hunt, there are bad signals you can send to an employer and vice versa. For example, you don't want to show up wearing beach attire to an interview. At the same time, you don't want to work at an office where all the employees looked unhappy and terrified of the boss. Salary talks have similar red flags.

"During salary discussions, an employer does not want to hear about financial pressures candidates may have, such as debt, loans or, especially, maintaining a lifestyle," Fuller cautions. "Showing an appreciation for the tangibles, intangibles and the big picture will go a long way. [Also], employers will screen out candidates who are all about the money and not about the contribution and advancement of the organization."

But be wary of employers during these conversations. You need to trust what you're being told; otherwise you probably don't want to work at the company.

"Candidates who cannot establish trust with an employer about the role, the expectations, the compensation and the future outlook should not accept an offer with an employer," Fuller says. If you have no faith in what you hear, can you imagine what it will be like to work for this employer every day?

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Use your best Selling skills to negotiate salary

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Never underestimate the importance of negotiating salary in an interview. Employers tend to prefer those candidates who already earn a greater income. While these candidates cost more to employ, their higher incoming salaries are assumed to reflect greater competence, initiative and achievement. So it's in your interest to pursue income increases at every legitimate opportunity.

It starts before going for the interview. A crucial part of your research is the salary range for the position you are applying, of course with your background and experience. Have a salary range in mind and be prepared to discuss these figures once salary negotiation has come up.

  • Never discuss salary until you have a job offer
    If you do, you could price yourself out of a job before the employer is convinced they need you. If pressed by the interviewers, tell them you're flexible and would be happy to discuss salary when you learn more about the job.

  • Get the employer to disclose salary before you do.
    Don't be the first to mention salary during the interview. Let the employer bring it up as many times as necessary until you feel ready.

  • Know your absolute bottom line.
    Be clear on what is your minimum salary expectation. Decide before you go in for the interview, what salary you want to earn, what you need to live on, and what you will be willing to settle for.

  • Market yourself.
    Emphasize the reasons you should get the offer. Document your skills and accomplishments, and be prepared to talk about them. Its about selling your skills and ability at the best possible rate.

  • When questioned about desired salary.
    The best response is one that returns the employer's ball back into his court: You can say, "what kind of salary range are you working with?" or "Well, I'd like to make as much as other employees with my qualifications." or "What is a typical salary for this position?" Another strategy is to avoid a specific salary and put forward a pay range instead.

  • Don't forget the value of benefits and perks when negotiating a salary.
    Sometimes the salary offered may seem low, low enough for you to turn down the job. But the benefits and perks can add up to 40 percent to your basic salary. Some benefits are fixed, but others are negotiable such as stock options, bonuses, employee discounts, training, holiday time and sick leave.

  • Do not disclose past salary.
    Once your past salary is on the table, your negotiating edge goes out the window. By not disclosing exactly what your current salary is or exactly what it would take to get you to leave your current job, you'll force a potential employer to make its best offer.

  • Make your salary discussion a friendly experience.
    Be amicable when discussing salary. You should make the employer feel that you are on the same side and working together to find a package that would satisfy everyone's needs.

  • Don't say yes to an offer right away.
    Be enthusiastic and appreciative when you get the job offer, but ask for at least 24 hours to respond. This gives you time to get over your initial joy at being selected. If you feel the salary is insufficient, express your concern to the employer when asking for time to consider the offer. You'll find out right away whether the salary quoted is set in stone or is flexible.

  • Declining an offer.
    If you decide not to accept the offer, make sure you leave on the best of terms. Treat every offer seriously and graciously. You can never tell who you may be doing business with in the future so don't burn any bridges.
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Salary Negotiations with your Interviewer

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You excelled in the interview, you've been offered the job, and now you're down to negotiating the deal. But how do you make sure you secure the best deal for you?

A few tips:
  1. Know your worth
    You may have an idea of what you are worth based on anecdotal information about what people like you are paid, but you will need something a little more scientific if you are to convince a future employer. Have a comparison list with you in the interview. Write out the requirements for the job, as listed in the advertisement. Add any extra skills you believe are important for the role. Then tick those items that you closely match. This gives you a physical list of your strengths as compared to the employer’s needs, and a negotiation base.
  2. Timing is important
    Think of the timing and importance of the things you want to negotiate, and acknowledge that some things are not negotiable. Pushing in the wrong direction will only cause friction, and may distract you from pursuing a more productive avenue. For example, don't ask for a car of a specific make or a house in a particular locality. You could be seen as over-confident or, worse, over-demanding.
  3. Look at the whole package subjectively
    Some companies have their hands tied when it comes to salary, but may have a number of other benefits that will raise your overall remuneration to a figure that meets your expectations. Consider the tax benefits and liabilities of having a company car, for example, or the opportunity for flexible working or working from home, if this is important to you.
  4. Work towards a win-win situation
    It is possible to be too good at negotiating. Squeezing every last penny out of your future employer will not get the relationship off on the best footing. Remember that you will most likely be working with the person you are negotiating your salary with, so keep things convivial, lest your working relationship does not match your salary. Be prepared to compromise. If you ask for six benefits and the company comes back with two, settle for three or four and everyone will win. It's important that the outcome of the negotiation is a win-win situation.
  5. Know your limits
    Sometimes no amount of negotiation will get you what you want. If it does not meet your needs, it is time to stop rather than end up with the wrong deal. If not, then be upfront as soon as possible, so that the interviewer can consider you in an enhanced light or, alternatively, cut the process short to save time for all concerned.
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Salary Negotiation: 11 Popular Myths

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Here I give you some common sense advice and tips on salary negotiation.

Once you have aced the interview and been offered the job of your dreams, complete the package by making sure that you get paid what you are worth.

Being aware of these 11 common salary negotiation myths can keep you from selling yourself short at the bargaining table.

Myth #1 - No Application Will Be Reviewed w/o Salary Requirements.
Ads sometimes print this to begin the initial screening process. By saying too low or too high of a figure, you eliminate yourself from the running. If you are a qualified applicant, employers will not toss your resume aside simply because it lacks salary parameters.

Myth #1 - In The Hiring World, No Exceptions Are Made
Bottom line, employers can always make exceptions (to salary guidelines/restrictions) if they feel like you are the best candidate and you will not take the proposed offer.

Myth #3 - Employers Dislike Negotiating Salaries.
Most interviewers will like you more and feel more justified in hiring someone who fights for what he feels deserving of. There is no harm to try and justify to an employer why you deserve more.

Myth #4 - Past Low Salaries = Future Low Salaries.
Even if your salary history is less than stellar, you can show the employer how you’ve developed your skills and talents which now makes you a more valuable team member.

Myth #5 - Always Negotiate For The Highest Salary.
Cash is not always the most important thing. What about benefits, bonuses and quality of life? Does the job offer you the opportunity to do what you want to do and still have a life after hours?

Myth #6 - A Salary Is A Fixed Figure: You Can't Change It
All salaries are negotiable. Even if you can’t increase your paycheck, you may be able to land more benefits or bonuses to sweeten your entire compensation package.

Myth #7 - A Beginning Salary Is Just That - A Beginning.
Wrong! Most raises are based on a percentage of your current earnings. So those who accept a lower salary without negotiating may be kicking themselves for years to come.

Myth #8 - Not Asking For More $$$ Improves Your Chances.
This strategy can sometimes backfire and make you look less valuable to the company, decrease your self-confidence and actually decrease your chances of landing the job.

Myth #9 - You Should Take The 1st Offer And Be Grateful.
In reality, you should always negotiate the initial offer because it is just a starting point to wind up at the highest end of the salary range. Most employers plan for negotiation and start the offer at a lower salary to begin with.

Myth #10 - Agree To The Final Offer A.S.A.P.
Some job seekers may think that someone else could take their place if they don’t jump on the offer. Not true. Getting the offer in writing welcomes you to join the firm until you say any differently. Take at least 24 hours to think any offer over.

Myth #11 - If I Don't Take The 1st Offer, Someone Else Will.
Applicants may be scared into taking the first offer because they think another applicant will gladly snatch up the offer even if it isn’t that great. If the employer wants you enough, they will pay you enough, in one form or another.

CONCLUSION
Knowledge is power and knowing that you have room to negotiate will help you to ask for and get the salary you deserve. Remember that the first offer from an employer is usually not the last and final offer - there is always room for negotiation.
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How to Handle a Request for Salary History




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There are four words that strike fear into the hearts of even the most valiant job seekers: "Please include salary history."

Most job seekers fear that disclosing their previous salary could put them at a disadvantage during salary negotiations.

For example, if your past salary was lower than the position pays, an employer may offer you less than they had planned.

On the other hand, if your past salary was significantly more than a prospective job pays, you could scare off an employer.

Use these tips to keep the upper hand when sharing your salary history.

Timing Is Everything

When choosing your strategy for dealing with a request for salary history, give careful consideration to the timing of the request.

If the request comes at the beginning of your job search, there is usually less flexibility. For example, some job advertisements note that "only applications including salary history will be considered."

Employment applications are even tougher, forcing you to put numbers into a box that measures about an inch wide.

However, if you make it to the interview stage before the issue of salary history comes up, you have the benefit of having a one-on-one conversation rather than a one-way dialogue.

Here are tips for each scenario.

Putting It in Writing

If the job you're applying for requires salary history upfront, there are usually two ways to provide it: A cover letter or an employment application.

Of the two, cover letters are preferred as they allow you to put your salary into context.

Employment applications are designed to be less flexible. If it feels as if they're trying to get you to force your employment history and pay into a tight box, it's intentional.

If you are unsure of exact numbers when filling out an application, let the recruiter know that you've provided approximations and can follow up later with exact numbers. Usually, approximations are fine.

Money Talks

If you make it to the interview before salary history comes up, first thank your lucky stars. This really is the optimal situation for sharing your salary history.

You now have the opportunity to put your salary in context and have the added benefit of the interviewer's body language.

You can use these strategies if you find yourself in a tight spot:

  • Shift focus to the salary you're seeking or that the job would command.


  • Provide an idea of what you've earned without giving a specific dollar amount. For example, you could say you earned "in the 40s."


  • Point out that other benefits (stock options, annual bonuses) boosted your pay package beyond just your base salary. If you adopt this strategy, you may still be asked to provide a number. If so, consider giving a range.

The Bottom Line

When divulging your salary history, put it in context.

Your salary can depend on many factors in addition to skills and experience. Salary can vary according to company size, location, economic conditions, the job market and more.

In an interview or cover letter, mention special circumstances that make your past salary less relevant to your future salary. These can include a change of location or increased responsibilities.

If your last job offered perks or special benefits -- like a company car, flex time or inexpensive healthcare -- you may want to mention those too. It'll help the recruiter see the big picture beyond salary.

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How to Determine Your Salary Range




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The elusive salary range ... Every job seeker needs one, but most don't know where to find it.

Salary ranges are a critical and often confusing part of job seeking.

Salary ranges change constantly. They vary from company to company, from bullish markets to bearish days, and from person to person based on experience. They also vary dramatically among different industries and geographic regions.

But, help is out there. By following a few simple rules, you can determine a range that works for you.

Dig Deep

You'll have to do some digging to determine you salary range. First, start with online job calculators like the Salary Wizard

Next, visit the Web sites and directories of professional associations. Often they'll not only provide salaries for positions in a particular industry but also ranges based on geographic location and experience level.

Government reports can also be very useful.

Last, business and industry-specific trade magazines can offer insights too.

Once you've armed yourself with all this salary research, you're ready to start shaping your salary range.

Reach Out and Talk to Someone

Work your network to determine your salary range. Call or email people in your industry or -- better yet -- at the company at which you're interviewing.

Industry contacts can confirm and fine-tune the ranges you've devised. They can also share personal experiences negotiating salary.

Try to find contacts in your geographic region, since salary can vary widely from place to place.

Current or former employees of the company at which you're interviewing can help determine salary ranges at that particular organization. Good questions to ask include:

  • What significance do salary ranges have at this company?
  • Is the first offer usually at the low end of the range?
  • Who gets a high offer and why?
  • Is there one skill or trait that all top earners share, such as an MBA?

All of these questions can help you handle the salary negotiation process.

Do the Math

Every position and every company has a salary range. You need one too.

Now is the time to think of yourself. Consider your financial needs and your budget. Come up with salaries that cover what you absolutely need, what you would be most comfortable making and what your ideal wage would be.

Remember, too, that salary is just one part of your compensation package and your career. You may want to adjust your range based on the specifics of a position.

Perhaps a job will give you experience you've been lacking. Maybe it offers a great deal of job security. Or perhaps the employer grants regular raises that will help you quickly climb the salary ladder.

Hire Help (If You Can)

Don't be overwhelmed by the legwork required to determine your salary range. You can do it.

But, if you can afford to, you can also hire an expert. Executives in particular sometimes do.

Coaches, compensation consultants and employment attorneys can research ranges for you. And professional pay advisers can often dig even deeper for specifics on a particular company because their networks tend to be bigger than the average person's.

Experts will compare and contrast the data they've uncovered and help you analyze your own financial situation.

These paid professionals will also usually coach you in the negotiation process -- which can help you land the highest salary in the range.

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Five Alternatives to Salary Negotiations




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You think interviews are scary?

There's one part of getting a job that can be even more intimidating: Negotiating a salary.

But what happens when a prospective employer just won't meet your salary request? Should you tuck your tail between your legs and accept the job anyway? Or should you politely turn down the job, even if you really need it?

Fortunately, you have a third alternative: You can ask for other benefits that can adequately replace an instant salary boost.

For instance: Consider requesting that you can get a performance review six months after you start. This request will show that you're willing to stand behind your work and prove yourself to the company. Then, in six months, you can request a salary increase.

Here are four other things you can ask for at the negotiating table OTHER than money.

An Extra Day Away

Don't think you can ask for more money? Then consider asking for a few more days of paid vacation time instead.

Even though asking for a few extra vacation days seems like a small request, those days can make a big difference in your happiness in the long run. And from the hiring manager's perspective, granting extra vacation time is much cheaper than a salary bump.

You'll Like Doing This Homework

One of the biggest trends to hit U.S. workplaces: Working from home. As technology improves -- from cell phones to home DSL connections -- your home may already resemble your office.

So when negotiating a job offer, instead of asking for more money, consider asking if you can work from home once in a while. Think about if you would prefer a structured work-from-home schedule (e.g., every Tuesday) or a looser arrangement (e.g., twice a month).

Moving Money

If you're planning to move to a new city or state for a job, you should consider negotiating for some extra money for your relocation costs. Companies realize that moving can be expensive and they are often willing to offset some of the expenses.

Would a Job by Any Other Title? ...

If a company doesn't want to offer you more money, perhaps it would be willing to offer you a snazzier job title.

While some companies have strict policies regarding job titles, others can be quite flexible. Changing "administrative assistant" to "executive assistant" costs the company nothing, but it might make you feel better. And it could help make your resume more impressive.

One last thing to remember: No matter what extra perks or benefits you score when negotiating a job offer, be sure to get them all in writing.

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Deal or No Deal: Negotiating Salary




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Talking about money during the hiring process should feel nothing like being a contestant on a nerve-wracking game show. Job candidates who prepare before the interview and adhere to some specific principles during the negotiation will eliminate much of the guesswork in the equation.

Before the Interview

Know what you want and prioritize what's most important to you in your next role --money, more responsibility, work/life balance, a shorter commute, corporate culture --before you begin interviewing.

Locate an industry association contact that can provide you with relevant compensation information. This will also help you know that jobs you apply for pay well enough for you. Remember, however, that variables such as company size, economic conditions, and availability of qualified candidates in the market need to be factored into your information-gathering process.

When and How to Talk About Money

Keep in mind that companies typically have salary ranges budgeted for specific roles within the organization. Exceptions aren't all that common. The only flexible items in a job offer may come down to things other than salary -- a signing bonus, moving up your review date, additional vacation time -- and could be an alternative to a higher salary.

Be prepared. You should be ready to convince the recruiter that you are worth the dollar amount at the higher end of the salary range. The easiest way to do this is to provide very specific examples of how you can add value to this organization -- just like you've done throughout your entire career.

Be upfront. When asked about your compensation requirements during the initial telephone interview, let the recruiter know where you stand. "I'm looking at opportunities in the $60-70,000 range, but can be flexible for the right opportunity." It's acceptable to ask if you're in the correct range for the position, and important to know so that both parties can make an informed decision about moving forward without wasting time. Remember, the role of the recruiter differs at each organization, so don't underestimate the influence this person has on the decision-making process.

Be respectful. If an offer is presented that is lower than what you hoped, thank the presenter. Ask if there is any flexibility in one or two of the areas that you've identified as being a priority for you. Regardless of the answer, always say you need time to consider the offer. Don't start negotiating new terms immediately.

Be firm. If there is no flexibility in the offer, you can accept it as is, or politely refuse and walk away. If the company is flexible on your terms, agree on all the new details in one conversation so that you can move forward with the next step in the process -- signing and returning the written offer letter.

Above all, be professional. Your actions during the negotiation process will be remembered by everyone involved long after you're hired, and may be helpful when it comes time to ask for a raise. As before, early preparation is the key to success in getting the salary you want and in taking away the feeling that you could be playing "Deal or No Deal."
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Get a Salary Rise: Six Tips

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Every day you go to work and you sell your products or services with passion and belief in their abilities. But how well can you sell 'Me Ltd'? If you feel that you are underpaid for the work that you do, would you know how to approach your employer to ask for a raise? Probably not, and most employers are wise to this.

According to the Chartered Institute of Personnel and Development, only a quarter of workers will get a pay rise this year which means that most of us will not get a rise at all.

So, how can you successfully negotiate a salary increase from your employer?

1. Ask for a meeting
Simply ask for a review meeting to discuss your performance but don't mention the main purpose because your boss is more likely to say 'No' there and then. You need to take control of the situation and arrange a meeting which will enable you to make your case and sell your argument.

2. Do your homework
You wouldn't walk into a client meeting unprepared would you? The same rule applies to asking for a pay rise.

Get up to speed with the average salaries in your industry for the role that you do -- look on the Internet, many Web sites have salary checkers that you can use, and look at job adverts to determine your actual worth. This will help you to make a strong argument for the figure you are asking for.

3. Get your timing right
Nobody owes you a job and no boss has to give you a pay rise simply because you want one. So, before you walk into you boss's office demanding that you get a pay increase, take a step back and ask yourself a few things first.

Was your last increase within the last nine months? If yes, ask yourself why you warrant another increase so soon. Has your performance justified asking for more money, have you been consistently achieving your targets? Do you outperform your colleagues?

The best time to negotiate is after a period of consistent performance that makes you the obvious candidate for a pay rise.

And, ask for it on a Friday afternoon because the boss will then have the weekend to worry about whether you are planning to leave the company or not.

4. Negotiate from a position of power
Put yourself in your boss's shoes, see your boss as your client -- he pays you to do a job for him and, if you want to increase your sales [salary], you need to justify the reasons why he should invest more of his annual personnel budget in you.

So, be prepared to sell your strengths and evidence of success. Demonstrate your contribution to revenue, cost-savings, increased revenues for your territory or quality of customer service for the last and next six months.

It is probable that your boss is not the final decision maker so you need to make your argument clear and concise to help get buy-in from the chain of command. Therefore, document it in a presentation format -- your boss may not remember what you have done and facts and figures are more effective when presented than when spoken.

Remember, pay raises are not about being fair; they are a business decision like all other business decisions and your boss will want to know what he will get in return from this extra investment.

5. Have a back-up plan if the answer is 'No'
Sometimes there are genuine reasons why you may not get a pay rise, such as economic conditions in the industry. But, it's not all about the money. Just because your boss has said 'No' to a pay rise doesn't mean that you cannot ask for non-financial benefits as an alternative.

You could ask for more paid time-off, a higher car-allowance or subsidised gym membership to help burn off all the extra calories gained during the festive period.

Perhaps you could ask for training and development that will enhance your skills and, ultimately, marketability - the company are more inclined to pay for this. After all, employees are the companies' biggest assets.

6. Finally, don't burn your bridges
If despite your best efforts you have not been able to successfully negotiate the pay rise that you want, you may decide that you feel undervalued by the organisation. But, at the very least, you should leave the door open for approaching the subject again in six months' time.

Even if you decide to look for another job don't do it with a bitter attitude. Who knows when your paths may cross again in the future.
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Negotiating a salary

Once you’ve established your personal market value, how do you actually make sure you get it? It can be easier holding out for more money when you’re in the process of being offered a job than trying to get a raise when you actually have one, but the negotiating process is essentially the same.

Negotiating a salary for a new job
If you’re being offered a new job, don’t rush things. If specific salary numbers are discussed directly at an interview, ask for time to consider any offer made to you. If your interviewers ask what you think the role is worth, be ready to turn the question round and ask what range they had in mind. If you expect your new employer to beat your existing salary package, be sure to include all your various benefits in your calculation and then add on a bit extra for bargaining space.

If you’re not absolutely crazy about the job anyway, you could consider turning it down to see whether they come back with an improved offer that might tip the balance. Be aware that this can be a risky strategy if you’re desperate for work.

Negotiating a pay rise in your current job
If you are already in a job and trying to secure a pay rise, you need to go in well prepared. Your boss is certain to question why you think you’re worth the extra money, so be ready to argue your case clearly and persuasively using specific examples to prove your worth. Make sure you have a good idea of what other people with your experience and responsibilities are earning, presenting evidence of your research if appropriate.

Whatever your situation, here are some of the key things to consider:

Positions of power
Who’s holding the cards? Each side has something the other wants – you want their job and salary, they want your skills and experience. The eventual winner of the negotiation will be to one who holds more positions of power so make sure they know just how much impact you can have on their business.

Bargaining tools
Is there anything extra either side can add or remove from an offer that is of value to the other side? Would you be prepared to forgo a company car allowance if they were able to get a salary closer to what you desire? These tools may not have a specific monetary worth, such as having the option to work from home, but can be of great value to the negotiation process.

Added extras to enhance your overall package that could be extracted from the employer include extra holiday, an increased pension contribution, health care, flexi-time working or even your own office. Think about things you could offer such as essential business contacts or insider knowledge on a competitor.

You could also suggest a guaranteed increase in salary after a certain time period once you have proven your worth. This makes the employer aware you will put in extra effort to achieve goals during that time to get the reward.

Consequence of non-agreement
What happens if neither side is happy? If you’re negotiating for a new job there may be another candidate who is just as good that they could offer the job to instead at a lower rate. Or you may be the only suitable interviewee and they are desperate for you to join the company. If you’re asking for a pay rise, if they don’t give you what you want would you leave, meaning they have to go through the cost and effort involved with finding a replacement? Whoever stands to gain the most from completing the deal will generally lose out in the negotiation.

Unlike more straightforward transactions, such as buying a car where all the cards are on the table, many of the factors to salary negotiation are hidden or implied. This makes it very difficult to judge who is on top in the negotiation so you may need to be more flexible than you would usually be.

If you approach the negotiation in the right way, your employer or potential employer will be impressed, regardless of whether you eventually win or lose, and see it as another skill which you can bring to their business.

Closing the deal
Make sure you have a record of the agreement down on paper which is signed by both parties. There’s no point winning a negotiation if you allow the other side to go back on their responsibilities at a later date.

Particularly when negotiating a salary for a new job, be sure not to overlook anything that needs to be factored in. Will you need to relocate? Will the company make a contribution to your costs?

If the job is really your dream role, you might find you’re willing to be more flexible. But if they ask you to accept a lower salary than you currently enjoy, always check to see how regularly you can expect a pay review.

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