Money is the most sensitive
issue in the whole hiring process. Discussing the compensation
often causes anxiety on both employee and employer. Here are
seven ways to make the process of salary negotiating efficient.
1) Research: Before the interview process
begins, contact the professional organization that represents
your field of career. As soon as they provide you with your
salary information, you can now examine your monthly cash
requirements. Remember that once your taxes are added to your
paycheck, approximately 30% of your gross monthly salary is
deducted.
2) Determine your skills: You should understand
that different segments of the economy require a variety of
skills depending on the industry setting. Once you have established
what your skills are and what they are worth to the current
employment market, you would know the limitations of your
negotiation.
Salary range information is available
at American Almanac of Jobs and Salaries, National Association
of College and Employers, Career Center, and professionals
in your related field.
In stating your salary range, avoid basing
your desired salary on your current salary. Always tell the
truth when it comes to your past salary. It is acceptable
to extend a range to approximately $6,000 to show that you
are within the companys price range but interested in more
compensation.
3) Weigh the companys compensation package:
To determine your fair market value for a specific job, you
should consider the economic, geographic, and industry factors
of the job offer. Weigh the benefits of compensation and promotions,
insurance, allowed time off and retirement settlements of
the offer to ensure a fair proposed salary.
4) Sell yourself: If you know what you
could offer the company requires a larger income, never say
it directly. Once you sell yourself discreetly, the interviewer
would understand that the proposed salary is not appropriate
for your background.
5) Have a positive attitude: In negotiating,
never compete. Negotiation is basically a process which could
benefit both parties. Understand your needs and those of the
company.
6) The final offer: Be aware when the
negotiation is done. Pushing further when a deal has been
set could give a negative first impression on your part.
7) Show what you are made of: The interview
is only the first step in having an enhanced compensation.
Once you are hired, offer your skills to the company and prove
your worth by doing quality work. You may even get a promotion
for doing so.
Based from a survey conducted by the Society
for Human Resource Management, four out of five employees
are willing to negotiate compensation. Understanding these
basic tips will allow you to enhance the terms of your new
job.
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