Deal or No Deal: Negotiating Salary

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."

Does No Degree Mean No Job? Not If a 'Degree Equivalent' Will Do

Often, while perusing the job postings, you'll see listed under the requirements section wording such as "Bachelor's degree or equivalent."

Does this mean that those without a degree need not apply? Not necessarily.

Although many corporate cultures require that their employees be degreed regardless of their position or length of experience, others will allow the degree to be trumped by industry experience. This is especially true for those job postings that have a degree **or equivalent** tagged to them. As such, you may have a chance when you lack the degree. Generally speaking, a degree will usually be mandatory for those younger candidates lacking solid, relevant job experience. The operative word here is "equivalent" and how that is defined.

Sell Results Instead

While these employers may have different requirements for equivalent experience, a good rule of thumb is to demonstrate past performance and proven results in your previous work. To accomplish this, your goal is to show how you either make money or save money for your employer.

From your past work experience, develop as many specific instances when you actually have done so. If you can attach a dollar-value to several of those, so much the better.? Put these in your resume.

Here are some actual examples:

• "Responsible for generating 13 new accounts by creating database and mailing piece."
• "Increased revenue by 38% from new social market bookings."
• "Chaired meetings and headed the negotiation discussion that resulted in the settlement of a long protracted contractual and legal issue with the subcontractor and client."
• "Improved cash collection and debt aging from average 100 days to a more manageable 30 days and realized savings of about $276,000."
• "Reduced turnover by 45% over previous management within 15 months through my training program and development plans."
• "Won the Leadership and Excellence Award in 2007 for outstanding achievements during my project management role."
• "Increased our customer satisfaction survey scores by 32% on average by training my team on the proper way to provide a great customer experience."

Showcase Your Main Strength

You should also have a USP (Unique Selling Proposition) near the top of your resume. Also called a "Personal Branding Statement," this is a short, one-sentence "pitch" that describes who you are in about 15 seconds. Your USP should state the single greatest strength you offer and the biggest benefit that you bring to an employer.

Example: "Hospitality business development professional with a strength in creative sales and marketing techniques that generated $500,000 in new revenue for my employer in 12 months."

You can outweigh the formal education by showing exactly how your specific work has benefited your previous employer. The bottom line is that employers today, more than ever, want to have problem-solvers on board. Though you may have no degree, you can prove yourself a resource that fits into their larger profit and loss picture. If you can demonstrate that, you can get hired.