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Launch Salary Negotiation

Launch Salary Negotiation

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Published by: subhasishmajumdar on Jan 04, 2010
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04/29/2011

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Launch
of responsibility. There are several resourcesavailable for gathering this information. Utilizeeach of the following tools and compare resultsto determine an appropriate salary range foryour position.
Salary Finder
Salary Finder is a good tool for discovering the appropriate salary for your position. In Salary Finder you can create a salary report for yourjob based on geographic location. Select your jobcategory and specific job type. Verify that theposition matches your responsibilities, select theappropriate geographic locationand create a salary report. Thisreport will give you an approxi-mate salary range for yourposition.
 Additional Research
Perform research using theInternet or your local library.Many job Web sites have salary estimators based on job category and location. You can also useyour favorite Internet searchengine to search for “Salary Survey,” which will lead to otherresources for regional and nationalsalary information. Your locallibrary has resources such as the OccupationalOutlook Handbook published by the Depart-ment of Labor, salary comparison articlespublished in local and national magazines, andcareer or trade publications which sometimesinclude salary surveys by career or industry.
4th Edition, Volume 4 
Increasing yoursalary is often theprimary motivating factor in searching foranother job. Asuccessful salary negotiation strategy requires that youunderstand several key issues. You must have arealistic expectation of the appropriate salary forthe position, given your geographic location, skillset, and level of responsibility. You must alsounderstand the total value of the compensationpackage, where benefits and otherforms of compensation can accountfor as much as 30% of the total value. Additionally, the employer mustrecognize the value you bring to his orher company. Discuss your skills andabilities with a prospective employerand demonstrate how they match therequirements of the position. De-scribe how your accomplishmentsreflect your ability to make a positiveimpact on the company. The moreyou convince an employer of yourpotential value to the company, themore leverage you will have in negoti-ating a higher salary.
Determining What You’re Worth
 The first step in determining an appropriatesalary is researching competitive salaries for yourgeographic location, skill set, position, and level
“Describe how your accomplishments reflect your ability to make a positive impact on the company. ” 
Insider AdviceforSalary Negotiation
Interviews and Salary Negotiations
 
employer is impressed with yourqualifications, you will not harm yourchances for an interview by leaving outsalary information.State in your cover letter that you areconfident their salary range is fair andcompetitive, but you would prefer todiscuss salary during your interview.Divert the emphasis from the subject of salary to how important it is to find theright fit with the right company, andstress how excited you are to have theopportunity to interview with them.If the company insists that you providesalary requirements, offer a broad range of acceptable figures based on your research as to what a fair salary would be. This will let acompany know whether or not youare in their acceptable range, andgive you some room to negotiate. Besure that the low end of the range isa figure you’ll be happy with, notjust the minimum amount you would accept.
Delaying the Salary Negotiation
 The most important salary negotiation technique to employ isdelaying all discussion of salary untilthe end of the interview, after youhave had a chance to sell the employer on yourqualifications. Use your interview to positionyourself as the best candidate for the job andmaximize your perceived value to the employer.If the topic of salary comes up too early inthe interview or job search process, try using oneof the following strategies to delay a discussionof salary until you’ve had a chance to proveyourself.
Networking
If you cannot find salary information onyour career field, then begin networking. Ask colleagues in your field, former employers,members of professional associations, hiring managers, employment recruiters, state employ-ment services, and headhunters what salary  would be appropriate for your location, position,level, and skill set.
Providing Salary History and Salary Requirements
Some employers begin with salary questionsearly in the job search by asking for salary history and salary requirements before your interview. These employers want to determine if yoursalary requirements fit into the salary rangeallotted for this position. If they makethis request, you must decide whether to disclose this information.In most cases, providing salary history or requirements prior to yourinterview is not to your advantage.If you provide your salary require-ments, you run the risk of pricing yourself out of the job, or setting asalary figure well under what they  would have been willing to offer you.Before discussing salary you want the opportunity to sell yourself,your skills, your capabilities, and your experience. You want to elevate an employer’s interest inhiring you and maximize your potential valuebefore negotiating the salary you deserve.If a job listing requests that you provide salary information, you can either:Choose to overlook it and not addressthe issue of salary. Generally, if an
Launch Interviews & Salary Negotiations
“Before discussing salary  you want the opportunity to sell  yourself” 
Use your interview to position yourself as the best candidate forthe job and maximize your perceived value to the employer.
 
4th Edition, Volume 3 
Learning the Employer’s Salary Range
 Wait for the interviewer to begin a salary discussion. If an employer asks you what kind of salary you’re looking for, avoid stating a specificfigure. Tell the interviewer that you are looking for a salary that is appropriate for your skill setand experience and that you are confident thattogether a fair compensation package can benegotiated. See if you can turn the questionaround and discover what budget the company has allocated for the position. When negotiating salary, keepin mind that most companies fallinto one of the following categories when setting the appropriate salary for a given job opening:
Open Range:
 There is no setsalary for this position, and com-pensation will be entirely based onthe candidate’s skills, abilities,experience, and what he or she canbring to the job. For these positions,negotiate as high a salary as possible.
Set Range:
 The salary for this position willfall in a particular range. Candidates will beevaluated based on skills, abilities, and experienceto determine where in the range they fall. Forthese positions, justify why you deserve a salary at the higher end of the range as part of yournegotiation process.
Set Budget:
 The salary for this position isset to a particular dollar amount. If you findyourself in this position, then negotiate foradditional benefits or other forms of compensa-tion such as vacation time, a car allowance, or asigning bonus.
Starting a Salary Negotiation
Once an employer is convinced you are thebest person for the job, it is time to talk salary.
 Ask for a Range or Budget
 Ask the employer what salary range has beenbudgeted for the position. If the intervieweroffers a salary range, then take the higher of thefigures and explain that this figure seems to be inyour range.
“Ask the employer what salary range has been budgeted for the position.” 
Provide Your Salary History
If, in the past, you have been compensatedat or above the fair market value for yourposition, and you are not seeking for a largeincrease in salary, then it is safe to provide yourprevious salary history to a future employer. Besure to factor in all the financial components of your previous compensation packages whensetting salary ranges. For example, “The range of my compensation package during the last threeto five years in this career field has been between$___ and $___.”
Share Research on Fair Market Value
Inform your employer that youhave researched the competitiveand fair market salary for thisposition given the responsibilities,skills required, and geographicalarea. Share a range of figures withyour future employer. Describe why your abilities and qualification placeyou at the high end of this range.For example, “My research showsthat a fair market value andcompetitive salary for this position isin the range of $___ to $___. Because of my expertise in ____________ field and ________ years experience, I will fall into the high-end of this range.”
Salary Negotiation Tactics
It is usually in your best interest for theemployer to mention a salary figure first. On theother hand, you do not want to appear evasive.Once a salary range has been established and ison the table for discussion, consider the following tactics to negotiate a better offer.
Remain Silent
One of the best tactics is not to express yourresponse to an offer. If the offer does not exciteyou, then simply remain silent. A few seconds of uncomfortable silence may convey that you arenot entirely pleased with the offer, and promptthe employer to offer more.
Build the Responsibilities of the Job
Illustrate how the job responsibilities of theposition will have a significant impact on thebottom line of the company and your perfor-

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