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Author Topic: Negotiating Salary  (Read 2536 times)

Offline _noXiouS_

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Negotiating Salary
« on: November 08, 2010, 04:02:11 PM »

- Here are some basics:

1. Do your homework.
Understand the salary range. Many job seekers receive an offer but have no idea how to determine if it's appropriate. Yate says it is important to identify a realistic range of pay by researching industry and trade Web sites, consulting the Bureau of Labor Statistics (BLS), utilizing online salary calculators, like CBsalary.com, and carefully reviewing the job posting. "You'll also need to have an objective opinion of your skills and where you fit within that range."

2. Script it out.
Plan your discussion. "Before any interview you should have three figures in mind," Yate advises. The first is the least you need to put food on the table and a roof over your head. The second is the reasonable wage you should earn considering your experience, researched industry ranges and the geography." (Pay levels can vary dramatically based on geographic region and available labor pool.) "The third figure is what salary will make you feel like you've gone to heaven. Kick out the first figure -- that's personal and shouldn't be discussed. Make the second and third figures your desired range."

3. Bite your tongue.
Don't be the first to talk about money. "If you bring up pay before the employer does, you're not having a sincere conversation," Yate says. "If an employer doesn't bring up salary, it means you haven't convinced them yet that you are the ideal candidate. Concentrate on bringing the conversation to that point. Show how you can help them make or save money and make a positive contribution."

4. No questions, please.
Never close with a salary question. Most interviewers will conclude their battery of questions by asking if you have any. "The worst thing you can do is ask a question about salary. It shows you don't have anything else to say about yourself and your qualifications."

5. Just the facts.
Postpone salary discussions until you have all the facts. If you're asked how much you expect to earn, don't give your range immediately. Yate suggests candidates should say they need to understand more about the job before discussing pay. Ask further questions about the job requirements to gain clarity.

6. Stay forward focused.
Don't let your current pay determine your future salary. No two jobs are the same; therefore, Yate says, your current earnings should bear no relation to your starting salary at the new job. Point out how this job is different, then say something like, "I'm changing jobs, so obviously I want to make more. Make me a fair offer to match my skills and experience within the salary range. By the way, what is the salary range for this job?"

7. Be truthful.
Don't lie about your current salary. "Lying about earnings is reason for dismissal with cause," Yate cautions. "When you're asked to fill out an application form, you're granting them permission under the 1970 Fair Credit Reporting Act to check your employment history. Even if they don't always check, when they do, they're looking to verify dates of employment and salary."

8. Make 'em sweat.
Leverage another offer. "If you have a valid offer from a competitor, you can use this to get back in for a second interview. Tell the interviewer that you really want to work for them, but just received a serious offer from XYZ company (the competitor) and would hate to make the wrong decision if they were considering you for the position," Yate advises.

9. Practice restraint.
Don't take the first offer. Most companies also have salary ranges and some leeway in what they can pay. Unless the amount is beyond your wildest dreams, consider giving the employer the opportunity to dig a little deeper. "This is a crucial point where you have the upper hand," Yate says. "They want you but don't yet have you; you want to get as much as possible and this is your one chance to do so."

10. Leave the door open.
What if you really want a job, but the employer makes you a lowball offer? Yate says: "Don't turn it down; ask for a few days to think about it. Let them know that you are very interested, but wonder if they could do anything about the salary. Then call to see if there has been any change, or if they were able to do anything about the money before you give them your final answer."

by:  Martin Yate, author of the New York Times best-selling "Knock 'em Dead" series.


-anyone want to add more, please feel free.  :happy:

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Negotiating Salary
« on: November 08, 2010, 04:02:11 PM »

Offline Kudrat Kaur

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Re: Negotiating Salary
« Reply #1 on: November 08, 2010, 07:31:49 PM »
Nice Post Noxious.
 I wud like to say similar kind of hting that Never ask about salary and benefits issues until those subjects are raised by the employer.
n When u have to speak about salary then dont use term salary directly start with ur Employee Benefit packages. then u can ask like
-> What are the benefits and perks?
-> What is the salary range?
-> What is my earnings potential in 1, 3, 5, and 10 years? etc.
and Above all Don't negotiate at the time the initial job offer is made. Thank the employer for the offer and express your strong interest and enthusiasm in the job, but state that you'll need time to evaluate the entire compensation package.therefore, u will have highest leverage to ask for more salary after initial interview, when final offer will be made to u.
 Most employers are willing to give you a fair amount of time to review and if you run across an employer who wants a decision immediately, consider long and hard whether you want to work for such a company. So make ur own decision abt it.

Offline _noXiouS_

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Re: Negotiating Salary
« Reply #2 on: November 09, 2010, 01:29:25 PM »


I must say, job hunting is a pain in the rear. I hate interviews!

Offline Steppenwolf

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Re: Negotiating Salary
« Reply #3 on: November 09, 2010, 02:05:45 PM »
I think I'm getting better at interviews... I hope. Good advice... not an easy topic to bring up. Most of the top tier companies have career bands. So, unless you get your self into a Director or higher role, salary negotiations are limited and there isn't much play.

So, knowing what the job is worth is very important. I've failed an interview because of an over bid.

Offline Jhanda_Amli

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Re: Negotiating Salary
« Reply #4 on: November 11, 2010, 10:16:40 AM »
Negotiating wont happen if you are a recent graduate. Mostly employees has a standardized figure and they might just pop up a question - How much you expecting? (dont surprise them with like 90 Grands for a 70 Grand job, as its to check your pshycology rather than negotiation)

- If interviewer dont mention, you shouldn't bring it up in the interview or many times your resume will be binned. Salary should be mentioned in the "may be" last interview - second or third. But most likely after you get the offer. - First make sure Employer is interested in you before you start negotiating

Also Negotiations might apply to someone who is 10-12 year into the work experience and looking into different options. Or you geting into the job ranging like 120 grands or something - Which is management - Also means you have 5-10 years of experience. 

Offline Jhanda_Amli

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Re: Negotiating Salary
« Reply #5 on: November 11, 2010, 10:25:25 AM »

I must say, job hunting is a pain in the rear. I hate interviews!

Interviews are fun. Probably cause I given too many of them :loll: ... and better start liking them soon as on average there is like 1 interview to every 75-100 jobs applied - Untill unless you have a white name. (not racist, its true) And dont worry everyone is in the same boat. :loll:

I am having hard times too - my email is spammed these days :( - One day I woke up and had 27 rejections on that morning. And have no clue how many jobs I have applied :loll:

Hate when I get that automated message - Dear blah blah.. We applogize to inform that you are this rejected... Might just means they haven't even open my application - Which took me like 2 hrs with all the coverletter and application crap you do on there website - Piss me off.

Offline _FaTeH_

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Re: Negotiating Salary
« Reply #6 on: December 29, 2010, 02:18:17 AM »
nice kamli u have brain :rockon:

Offline _noXiouS_

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Re: Negotiating Salary
« Reply #7 on: January 09, 2011, 04:39:17 PM »
Quote
Also Negotiations might apply to someone who is 10-12 year into the work experience and looking into different options. Or you geting into the job ranging like 120 grands or something - Which is management - Also means you have 5-10 years of experience.

You don't need a 10-12 yr experience to negotiate salary, after few yrs, I'd go for it. If not, at least get more perks!
« Last Edit: February 28, 2011, 12:00:55 PM by _noXiouS_ »

Offline •°o.O тîтℓєє O.o°•

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Re: Negotiating Salary
« Reply #8 on: January 09, 2011, 08:51:31 PM »
Right we dont have to wait for 10 12 years .. but we need to make sure that there is something about us to negotiate on. Either the employer has a urgent need or we have the edge and are absolutely perfect fit for the job.

I think people go overboard with the negotiation and it becomes ugly, we need to drop people because of thsi reason sometimes, in fact many times. the key is to be subtle and reasonable. So yeah, be careful.

I hate interviews myself and I got one on Tuesday!!

 

Offline Rubbie

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Re: Negotiating Salary
« Reply #9 on: January 09, 2011, 09:36:01 PM »
There is no point of negotiation if u r recent graduate ...
as employer and u.. both know..that u badly need a job... :woried:
and as new graduate wat really matters is experience not hefty perks
just be cautious...don't make them not pick you because you asked for too much – unless you're sure you can get it elsewhere.

Offline •°o.O тîтℓєє O.o°•

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Re: Negotiating Salary
« Reply #10 on: January 12, 2011, 05:21:16 PM »

Just saw something relevant to this topic -

Job hunters have a slew of online resources they can check to see if your offer is in line with the competition.  There’s no reason for you to offer salaries in the dark; you can use the same tools as your job candidates to know how much you should offer. Courtesy of MakeUseOf, here are some great sites to bookmark in your salary folder:

Glassdoor is a career community site that features all manner of insider information from actual employees and former employees. You can get good intelligence here on your competitors, including the salary ranges they offer.               

Salary.com is one of the most attractive career sites out there, designed to be an all-around career portal for job seekers. Here you can se the salary wizard to get an aggregated view of compensation packages for any selected career.

PayScale is a more focused site that helps job seekers compare their salary to industry standards and averages. This site lets you view salary ranges not just by job title, but also by location, education, and experience — a great way to see if your salaries pass the sniff test for prospective employees.


Happy Negotiating!! :hehe:



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Re: Negotiating Salary
« Reply #11 on: January 12, 2011, 09:03:51 PM »
Best answer to salary is to say "COMPETITIVE RATE". Avoiding a specific figure is a good idea since it may be outside of the pay range that they are offering so it may cut you out of the running.



 

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