Salary Negotiation: Ask, Don't Tell.
When negotiating salary, you should have done ample
research so that you know your realistic, fair market
value. That is, be prepared. Factor in your years of
experience, special projects or initiatives, and the
overall economic climate. All these cold-hard stats mean
a prospect can't undercut you when bargaining.
Shoot Straight.
Be as up front and honest as possible. Any sort of
duplicity such as padding numbers may be perceived as
dishonest and can come back to haunt you. Many of the
bigger, well-established companies are known to call and
check with current employers about salary ranges. Don't
be intimidated. Just be honest and clear.
Should You Tell All?
We found advice-givers on both sides of the 'fess up'
issue. Some says if you're asked flat out, tell them,
and some warn against winning a salary tug-of-war at the
expense of losing the good will of the interviewer. But
many interviewees still balk at speaking first.
When they ask what you're making, say 'You know what the
job is worth. I'll let you know if the figure's too
low'. Most employers will try to low-ball candidates,
but when you show that level of confidence, they don't
want to insult you. They have always come back slightly
higher than what you expecting.
We suggest a little of both approaches and tailoring the
response. If you can avoid divulging salary first,
great. If not, don't let your current earnings determine
your new income. Simply explain your situation,
enumerating your reasons, as you answer the question.
Keep in mind: You can always revise your desired salary
down (and look like a motivated candidate for
considering a pay cut). But once a figure's named, it's
almost impossible to inflate it.
The company is a business and the interviewer's job to
get you as cheaply as possible. This is not about being
as nice as possible. Don't apologize, don't backpedal.
Exude confidence and assert yourself in a solid but kind
manner.
Go the Extra Mile.
Dollars and cents are just the beginning when it comes
to negotiating your compensation package. If the base
salary isn't enough but they aren't budging, have a list
of other requested perks: an extra week of paid
vacation, flex time or four-day workweeks, stock
options, bonus schedules, and early salary review. Some
bonuses can be 10% to 20% of your salary. And an extra
week during the holidays is worth a lot too.
Six tips for strategically earning more in the
workplace.
Think of job jumping as a career strategy.
Staying with the same company for 10-20 years used to be
a common career strategy. That's somewhat risky thinking
in today's job market. Companies have proven they will
lay you off or sell your division or outsource your job
if it helps them be more competitive or more profitable.
Always be looking for your next job.
Always be doing research on hot companies and hot
industries in your market. Always be looking down the
road. Stay in touch with your market and keep your radar
out for great new opportunities. But, be 'fiercely
loyal' to your company while you are there. Do your best
even if you are planning on leaving soon.
Market yourself.
Think of yourself the way companies think of a new
product. Ask yourself what you need to do to position
yourself for future success. Don't wait for the market
to come to you.
Create a mini business plan.
Create a mini business plan after you have done your
research and you have set up an interview with a great
company. Don't just present yourself in the conventional
ways. Show them what you will do for them and how you
will do it. This approach will clearly differentiate you
from the other candidates.
Present yourself.
Present yourself and your mini business plan with a
passion! Take past awards and commendations with you.
Save the 'what is the company going to do for me
questions' until the end of the interview.
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