How to Negotiate your Salary

Bayt.com reveals some basic tools to use when you ask the employer to show you the money!
Congratulations! You've landed the ob. Now to take home the package that is most commensurate with your skills! ability! e"perience and the ob responsibilities. #obs$utNow.com reveals some basic tools to use when you ask the employer to show you the money!

Negotiate
Yes! do negotiate. %mployers actually %&'%C( you to negotiate your package even when they pretend they don't so don't deprive them! or yoursel)! o) that pleasure.

Negotiate *)ter You Have *n $))er

(he time to negotiate your salary is a)ter the employer has decided he wants you on board and has made you a concrete o))er + not in the elevator on the way up to the ,nterview or a)ter an interview -uestion you think you've particularly aced. *n o))er indicates that the employer wants you on board and is convinced you have the skillset and potential to be a valuable addition to the team. You now have the upper hand and should use it to secure a compensation package commensurate with your worth. ,t is )ar easier to negotiate a satis)actory package at this stage when the employer really wants you and is )ocused on getting you on board! than a)ter you are on board and )irmly entrenched at a given salary level and ob description. ,t is unlikely you will ever be in a better position to negotiate a good package than you are at this stage.

%stablish #ob .esponsibilites

Clari)y your ob responsibilities be)ore beginning to negotiate the compensation. /ake sure you have all the )acts pertaining to the new position and are very clear about your role! responsibilities and the ob title. (his detailed knowledge o) the position will come in handy as you negotiate your package.

0etermine Your Salary .ange Be)orehand

Be)ore you can begin negotiating! you need to determine a salary range that you can base your discussions with the employer on.

1irstly! determine the minimum salary you could possibly accept! and make sure this is a salary that you can survive on. (his minimum is not to be revealed to the employer in your negotiations.

Ne"t! determine a reasonable mid+point salary based on what the ob responsibilities are! what you have to o))er the employer and what you are worth in the market. (o get a realistic idea o) what the position is worth! research the market. 2ook at published annual salary surveys and ob ads )or similar positions in newspapers! maga3ines and on internet ob sites and talk to )riends in the industry and recruitment agents. ,) you are applying to a position at the right level! there should not be a large discrepancy between what the position is worth based on your research and what you are worth based on your e"perience! education! compensation history and what you have to o))er the position.

1inally! determine an e"tremely generous salary level that is not too unrealistic )or the position and that you would be e"tremely ecstatically happy to receive.

4et the %mployer to .eveal his Hand 1irst

*lways get your employer to reveal his hand )irst to avoid pricing yoursel) out o) the game or limiting the discussions prematurely. ,) you are )irst to put a number on the table! you run the risk o) being perceived as 'over-uali)ied' i) your range is too high or casting doubts on your pro)essional abilities and track record i) you shortsell yoursel). .evealing your e"pectations or salary history will limit your negotiating range and remove a lot o) the leverage you otherwise have.

$)ten! the employer will make you a verbal o))er and throw the salary ball into your )ield by asking you what salary you e"pect! or what salary you made in your previous position. (ry to throw the ball right back in the employer's )ield by countering with another -uestion! such as 56hat do you think someone with my track record! e"perience and skills could make in this position75 or 5You now have a good idea o) my skills and track record and potential. 6hat do you think is a )air salary given the ob's re-uirements and responsibilities75

0o not reveal your previous salary i) you can possibly help it. 1ocus the discussion instead on what your background! responsibilities and potential contributions are worth in this position. Your goal should be to ma"imi3e your worth and potential value to this employer through e))ective negotiation + the value your previous employer placed on you should be irrelevant. .emember! what you are worth to this employer is a )unction o) the value+added you can bring to this particular ob and your potential contributions in the new role! not a )unction o) how your skills were utili3ed 8or misutili3ed9 in the last ob.

,) absolutely pressed )or a number and the employer will not give you an idea o) his target range despite all your best e))orts to gain the upper hand! you can present the employer with the range you have determined be)orehand. (he 'e"pected' salary range you reveal will have what is really your midpoint as the minimum! with the upper bound representing your 'dream' salary. /ake sure you always start your negotiations with a range! not a speci)ic salary level.

2et the 4ames Begin

You are now o))icially at the starting line! e-uipped with a verbal o))er! your own well+studied salary range and a solid understanding o) your ob responsibilities in this new role. (he negotiations will be )ired either with the employer revealing his salary range )or the position or! despite all your best e))orts to reverse the roles! you revealing your predetermined 'e"pected' salary range )irst.

Best case scenario: You have played your cards right and the employer e"tends you an o))er that is at the upper bound or signi)icantly above your e"pectations. Your downside risk has been eliminated and you can now )ocus your discussions on making a good situation even better. ,) your predetermined salary range was ;<=!>>>+;?>!>>> and the employer has o))ered you ;?>!>>> + ;?=!>>>! you can counter with something akin to 5(hat is close to the range , had in mind. /y e"pectations given my background and the ob responsibilities were closer to ;?=!>>> + ;@>=!>>> with ;?=!>>> really having been my very minimum. How much )le"ibility do you have on the upside75

6orst case scenario: You have prematurely limited your negotiating range by revealing your hand too soon and the employer counters with a lower range! or the employer starts the negotiations with an o))er below your e"pectations. (his is where your negotiating savvy really comes into play.

Be)ore you begin to negotiate! make sure you and the employer are roughly in the same ballpark. ,) your well researched and well thought out range o) ;<=+?>!>>> was met with an o))er o) ;=>+==!>>> )rom the employer! you have either misconstrued the ob responsibilities or the employer is paying signi)icantly below the market. (his is where your minimum salary comes in. 0oes the range meet your minimum threshold7 ,) not and your negotiations don't bring you upto that minimum re-uirement! this may well be the wrong position andAor company )or you!

#usti)y Your Counter+$))er

Your ;<=+?>!>>> range was met with a ;<>+<=!>>> o))er )rom the employer. *ll is not lost. You will keep the discussion alive by coming back with a sell proposition along the lines o) 56ell let me see! the ob's responsibilities as , understand them are *BC5 at which time you care)ully recite in detail all the various aspects o) the ob. 5, really )eel that someone with my track record and -uali)ications could be making a minimum o) ;<=!>>> on the ob. , was actually looking )or a salary much closer to the BC>!>>> mark.5 You then proceed to usti)y your range. Con)irm to the employer that you are very interested in working with the company and that you )eel you would really )it into the team and could make a signi)icant contribution there. .ecap on your most relevant work e"perience and mention again the skills you will immediately put to productive use on the ob. /ention that you )eel your ideal salary is actually very realistic given your e"perience and the ob re-uirements.

4ain 2everage by Negotiating the #ob .esponsibilities

,) the employer's range is carved in stone despite all your well+rehearsed negotiation tactics! move to another stone. You do this by altering the role! albeit modestly to usti)y a higher salary. (his is where your detailed knowledge o) the position comes in.

You can do this in three ways. 1irstly! you can add to the list o) ob re-uirements a task or responsibility you have thought o) be)orehandD one that you have either read about! thought o) yoursel) or heard about )rom a )riend in the industry. Secondly! you can sei3e on one o) the problems the employer mentioned during the ,nterview and o))er a solution that you would personally be responsible )or. (hirdly! you can ask the employer outright! what added responsibilities he would ideally like to have the person holding this ob ultimately assume i) they were brought upto speed -uickly enough. *nother way to pose the latter -uestion is what added responsibilities or areas does the employer wish your predecessor had taken charge o). *sking the -uestion 56hat are some o) the areas you would like improved on5 or 56hat are some o) the problems that my predecessor )aced5 during the ,nterview comes in use)ul at this stage o) the negotiations as you try to establish additional value+added ground.

(he 'business solution' or added responsibility you come up with need not be monumentalD in )act you should re)rain )rom making any big promises. ,t can be something as simple as a /arketing %"ecutive o))ering to arrange a brie) monthly newsletter )or the )irm's clients! or a database that would speed client reporting up! or a slightly revised )ormat )or the monthly reports that would be more visually appealing. (he important thing is that once you have elevated the position to a slightly higher plateau! you can then proceed to usti)y your 'ideal' salary as commensurate with the increased responsibilities. You can go back to the employer with 51rom what , understand! my role in this position would be &YE. However! , am also bringing to the ob the )ollowing )unction8s9 and responsibilities . . . 5 at which point you recant the additional responsibilities.

#usti)ying your desired salary as being commensurate with a higher level o) responsibility is an e"cellent way to umpstart stalled negotiations.

Negotiate the 'ackage not ust the Salary

You should be ready to negotiate the entire package! not ust the salary. .emember that you can enhance a less than stellar salary by negotiating the perks. ,) your most ardent! well+rehearsed salary negotiation tactics were ine))ective at boosting the starting salary! you can try to gain the lost ground at this stage o) the game. Your discussions can include medical insurance! car and housing allowance! children's education! plane tickets home )or e"pats! club memberships and )urther education and pro)essional training )or yoursel). (ry to get any courses! seminars or )urther education you intend to take included in your package. ,n many industries you can negotiate a guaranteed bonus at a given date

or a sign+up bonus. You can try to secure a commitment to a minimum salary increase andAor title promotion at a prespeci)ied date in the )uture providing you meet certain per)ormance criteria. *t the very minimum! you can ask )or a per)ormance 8and salary9 review a )ew months a)ter oining.