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Old 09-18-2010, 07:50 AM
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Default Salary Negotiations with your Interviewer

You excelled in the interview, you've been offered the job, and now you're down to negotiating the deal. But how do you make sure you secure the best deal for you?

few tips:

Know your worth
You may have an idea of what you are worth based on anecdotal information about what people like you are paid, but you will need something a little more scientific if you are to convince a future employer. Have a comparison list with you in the interview. Write out the requirements for the job, as listed in the advertisement. Add any extra s****s you believe are important for the role. Then tick those items that you closely match. This gives you a physical list of your strengths as compared to the employer's needs, and a negotiation base.

Timing is important
Think of the timing and importance of the things you want to negotiate, and acknowledge that some things are not negotiable. Pushing in the wrong direction will only cause friction, and may distract you from pursuing a more productive avenue. For example, don't ask for a car of a specific make or a house in a particular locality. You could be seen as over-confident or, worse, over-demanding.

Look at the whole package subjectively
Some companies have their hands tied when it comes to salary, but may have a number of other benefits that will raise your overall remuneration to a figure that meets your expectations. Consider the tax benefits and liabilities of having a company car, for example, or the opportunity for flexible working or working from home, if this is important to you.

Work towards a win-win situation
It is possible to be too good at negotiating. Squeezing every last penny out of your future employer will not get the relationship off on the best footing. Remember that you will most likely be working with the person you are negotiating your salary with, so keep things convivial, lest your working relationship does not match your salary. Be prepared to compromise. If you ask for six benefits and the company comes back with two, settle for three or four and everyone will win. It's important that the outcome of the negotiation is a win-win situation.

Know your limits
Sometimes no amount of negotiation will get you what you want. If it does not meet your needs, it is time to stop rather than end up with the wrong deal. If not, then be upfront as soon as possible, so that the interviewer can consider you in an enhanced light or, alternatively, cut the process short to save time for all concerned.

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Old 09-18-2010, 07:51 AM
welcomewiki welcomewiki is offline
Join Date: Dec 2008
Location: India
Posts: 36,885

Never underestimate the importance of negotiating salary in an interview. Employers tend to prefer those candidates who already earn a greater income. While these candidates cost more to employ, their higher incoming salaries are assumed to reflect greater competence, initiative and achievement. So it's in your interest to pursue income increases at every legitimate opportunity.

It starts before going for the interview. A crucial part of your research is the salary range for the position you are applying, of course with your background and experience. Have a salary range in mind and be prepared to discuss these figures once salary negotiation has come up.

Never discuss salary until you have a job offer
If you do, you could price yourself out of a job before the employer is convinced they need you. If pressed by the interviewers, tell them you're flexible and would be happy to discuss salary when you learn more about the job.

Get the employer to disclose salary before you do.
Don't be the first to mention salary during the interview. Let the employer bring it up as many times as necessary until you feel ready.

Know your absolute bottom line.
Be clear on what is your minimum salary expectation. Decide before you go in for the interview, what salary you want to earn, what you need to live on, and what you will be willing to settle for.

Market yourself.
Emphasize the reasons you should get the offer. Document your s****s and accomplishments, and be prepared to talk about them. Its about selling your s****s and ability at the best possible rate.

When questioned about desired salary.
The best response is one that returns the employer's ball back into his court: You can say, "what kind of salary range are you working with?" or "Well, I'd like to make as much as other employees with my qualifications." or "What is a typical salary for this position?" Another strategy is to avoid a specific salary and put forward a pay range instead.

Don't forget the value of benefits and perks when negotiating a salary.
Sometimes the salary offered may seem low, low enough for you to turn down the job. But the benefits and perks can add up to 40 percent to your basic salary. Some benefits are fixed, but others are negotiable such as stock options, bonuses, employee discounts, training, holiday time and sick leave.

Do not disclose past salary.
Once your past salary is on the table, your negotiating edge goes out the window. By not disclosing exactly what your current salary is or exactly what it would take to get you to leave your current job, you'll force a potential employer to make its best offer.

Make your salary discussion a friendly experience.
Be amicable when discussing salary. You should make the employer feel that you are on the same side and working together to find a package that would satisfy everyone's needs.

Don't say yes to an offer right away.
Be enthusiastic and appreciative when you get the job offer, but ask for at least 24 hours to respond. This gives you time to get over your initial joy at being selected. If you feel the salary is insufficient, express your concern to the employer when asking for time to consider the offer. You'll find out right away whether the salary quoted is set in stone or is flexible.

Declining an offer.
If you decide not to accept the offer, make sure you leave on the best of terms. Treat every offer seriously and graciously. You can never tell who you may be doing business with in the future so don't burn any bridges.
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Old 09-18-2010, 07:51 AM
welcomewiki welcomewiki is offline
Join Date: Dec 2008
Location: India
Posts: 36,885

Well, if it is, consider a career as a financial planner, computer techie or epidemiologist according to Fast Company because those are just three of the top 25 jobs as the top-paying professions in the future.

For some, it is all about the money and the great toys it buys. Cool cars, surround sound and two cell phones (16% of cell phone users carry two). Indeed, money, the quality of life and financial independence are great motivators to get up and go to work everyday. But for some, the toys don't matter as much, financial independence isn't even a consideration and quality of life isn't measured in an asset portfolio.

There are lots of people making lots of money who go to work everyday to a job they hate. There are just as many people who go to work everyday to a low-paying job that they love. They love it because the job provides so much more than dollars. Teachers, nurses, law enforcement and emergency rescue personnel don't make the kind of money a CEO makes, but most of them wouldn't change careers for a bigger salary. To these people, it's more important to receive the emotional rewards a career provides.

We define each other by the work we do...

High on the list are college professors (must be very smart), doctors (modern day wizards), religious leaders (good hearts) and school teachers (large buckets of patience).Low on the status list are politicians (all crooks), used car salespeople (all crooks), stock brokers (sales hype), telemarketers (annoying) and the folks who sc**** up road **** (Yuck!).

But notice that status isn't related to earning power. Most religious leaders don't make huge salaries, but still hold high-status positions in our society. Conversely, successful stock brokers usually clear six figures annually, but most of their clients would consider brokers a necessary evil. Status isn't related to salary. But it is related to your self-esteem.

If you have high self-esteem, you think you're doing okay in the world. If you have low self-esteem, you can't figure out why your career lacks traction. You aren't getting anywhere, you don't like your job, you don't like your life and you don't like yourself or your pet or your apartment.

The fact is, that not only do we define others by how they earn a living, we also define ourselves by the work we do. Our professions and careers become woven into the fabric of our self-image--the way we see ourselves and believe that others see us, as well. And Over the years, our society has attempted to increase the self-esteem factor by changing job titles and Descriptions.

Who doesn't care for Flex-time, an in-house day care, summers off, a great health plan, company car - there's more to most jobs than the bottom line, especially in this hectic work-a-day world in which time has more value than cold, hard cash. Most parents will swap flex time and telecommuting for a bigger paycheck because those benefits also improve quality of life. More senior employees will seek out good health plans. New hires seek opportunities to advance. There are as many reasons for taking a job as there are people who take them.

It doesn't matter if you're just starting out in a career or thinking about a mid-life career change. If you focus solely on the salary, you're limiting your options and your chances to really improve the overall quality of life.

Weigh the other factors - benefits, job status, self-esteem and the emotional and psychological benefits - that a job offers. You'll expand your career horizons and you'll more likely find true happiness on the job.

And that's the most important consideration of all.
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Old 09-18-2010, 07:51 AM
welcomewiki welcomewiki is offline
Join Date: Dec 2008
Location: India
Posts: 36,885

IT'S that time of the year again - filling out appraisal forms, tackling performance management tools and the nagging thought of a raise. If you want a bigger performance bonus or a fat pay hike, now is the time to start working on it. Here are five simple steps to help you break out of the 5% increment rut:

Most companies start making performance decisions months before they dole out raises, which means you better start self-promotion right away. You might hate to brag, but the boss should know you have been working all year long. Take advantage of opportunities to highlight your accomplishments. If you receive a complimentary letter from a client or a co-worker, forward it to key decision makers with a note saying you wanted to share the good news.

Many firms settle on a set range of pay raises beforehand. Start by knowing what the market is paying for your position. Work out how much to ask and then build a solid case for yourself. You must prove to your boss that you are worth the money. As raises become tied to performance, be sure to promote yourself. Keep a diary of accomplishments and talk up the most impressive ones. Focus on the value of the contributions you have made in your position. Speak about the impact you have had on the organisation. Emphasize on your proven commitment, enthusiasm and future contributions. Think strategically - how much money have you saved for the company, or how much revenue have you generated?

One of the quickest ways to try to get a hike is to get a competing job offer. But playing that card, of course, means you had better be willing to jump ship. Recruiters caution against doing this without thinking about consequences first. Don't say you're thinking about leaving unless you mean it, because your boss might call your bluff and the whole thing might backfire on you!

Don't ask for a pay hike when your company is financially hurt. This is easier if you work for a publicly-held company but for a private company; rely on your network and investigative s****s. If the boss says budgets are tight and money isn't available, you might want to try some creative repartees like: "Would you like me to work fewer hours until the company's financial situation improves? Will you give me the raise next quarter?"

If you can't negotiate a better pay, experts suggest proposing non-cash benefits to puff up your pay package. Things like working flexi-time; working from home, increased vacation or ending your Friday a few hours earlier are all chips to bargain over. Consider creative options, phased salary hike and other benefits to improve the case. Before talking to your boss, know what your back-up plan is so that you can approach negotiation with confidence and not back yourself into a corner
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