Before going into salary negotiating, it is critical to know exactly what your value is. If you do not know exactly what your value is, then it is a shot in the dark when you ask for a raise or try to get the most in your next job.
You may end up letting the employer decide what your pay increase should be, and it may be disappointing to you. Millions of people negotiate for a higher salary, but not so many get the maximum increase in compensation that they could.
Research ahead of time is critical before approaching your boss for a raise, or before putting your foot forward in salary negotiations at job offer time. It is like a card game. Do not reveal your cards too soon. In this case, your cards are personal secrets like how much you made in your last job, or how much money you'd like in the new job, or how much of an increase you'd like.
Know how much compensation you can command before you ever discuss salary negotiation with an employer.
If you are looking for a new job or are trying to ask for a raise, do salary research on the Internet first. There are great sites like SalaryExpert.com or Payscale.com who calculate all the salary information that is available.
Make sure you scrutinize the quality of information from each site, so you feel you have reliable information. If a web site reports salary scales based on information provided by subscribers it may not be as accurate as if the salary data is reported by the hiring department of the companies in that field.
Another option, if you are not afraid to ask, is to do a bit of snooping. If you know someone who works for the firm, and are not afraid to ask, is to find out what other people are making in the same role for that company.
If you know an HR person, even better. Often times, the word will be on the street, company ABC pays well, or company EFG are fairly stingy when it comes to compensation. This information may also help.
There are many firms that do research into the human resources data for a particular job market. These firms publish very expensive reports that are only disclosed to inside subscribers. If you are able to gain access to one of these reports in a lawful way, then you may just find you have a wealth of information, that is even more valuble than asking a friend.
Many salary sites report salaries in the form of a large range. If the range is $45,000-$69,000, the site will often report that data in 25% intervals. The bell curve is sometimes found within the 0-100% range, and it is important for you to clearly assess where you fit in the range, and make sure you are not below the bottom or too far above the top.
If you perform well at your job, then you know it. Think about your performance critically and honestly, and determine using intuition where you think you fit in, as far as a percentile basis. Don't worry if you think you're in the lower regions. It may be lack of experience or tenure. If you are in the top end, you know you're a high performer and you're providing a lot of value to the company.
I have found it to be very useful to point blank ask friends at work where they feel I should be on the salary scale. They know themselves and measure themselves against you. You should do this with someone you have a very good raport with. You will get great direct feedback.
You must be able to express the value you bring to the business in terms that employers really like to hear. If you are able to describe your value in quantifiable terms, then you will have a lot stronger arguement. Think about cost savings, profits you've been responsible for and efficiency you may have brought to the business. This is the greatest way to communicate your worth when negotiating salary.
Best of luck to you in your next salary negotiation. - 18099
You may end up letting the employer decide what your pay increase should be, and it may be disappointing to you. Millions of people negotiate for a higher salary, but not so many get the maximum increase in compensation that they could.
Research ahead of time is critical before approaching your boss for a raise, or before putting your foot forward in salary negotiations at job offer time. It is like a card game. Do not reveal your cards too soon. In this case, your cards are personal secrets like how much you made in your last job, or how much money you'd like in the new job, or how much of an increase you'd like.
Know how much compensation you can command before you ever discuss salary negotiation with an employer.
If you are looking for a new job or are trying to ask for a raise, do salary research on the Internet first. There are great sites like SalaryExpert.com or Payscale.com who calculate all the salary information that is available.
Make sure you scrutinize the quality of information from each site, so you feel you have reliable information. If a web site reports salary scales based on information provided by subscribers it may not be as accurate as if the salary data is reported by the hiring department of the companies in that field.
Another option, if you are not afraid to ask, is to do a bit of snooping. If you know someone who works for the firm, and are not afraid to ask, is to find out what other people are making in the same role for that company.
If you know an HR person, even better. Often times, the word will be on the street, company ABC pays well, or company EFG are fairly stingy when it comes to compensation. This information may also help.
There are many firms that do research into the human resources data for a particular job market. These firms publish very expensive reports that are only disclosed to inside subscribers. If you are able to gain access to one of these reports in a lawful way, then you may just find you have a wealth of information, that is even more valuble than asking a friend.
Many salary sites report salaries in the form of a large range. If the range is $45,000-$69,000, the site will often report that data in 25% intervals. The bell curve is sometimes found within the 0-100% range, and it is important for you to clearly assess where you fit in the range, and make sure you are not below the bottom or too far above the top.
If you perform well at your job, then you know it. Think about your performance critically and honestly, and determine using intuition where you think you fit in, as far as a percentile basis. Don't worry if you think you're in the lower regions. It may be lack of experience or tenure. If you are in the top end, you know you're a high performer and you're providing a lot of value to the company.
I have found it to be very useful to point blank ask friends at work where they feel I should be on the salary scale. They know themselves and measure themselves against you. You should do this with someone you have a very good raport with. You will get great direct feedback.
You must be able to express the value you bring to the business in terms that employers really like to hear. If you are able to describe your value in quantifiable terms, then you will have a lot stronger arguement. Think about cost savings, profits you've been responsible for and efficiency you may have brought to the business. This is the greatest way to communicate your worth when negotiating salary.
Best of luck to you in your next salary negotiation. - 18099
About the Author:
Trevor Davide Grant is a project manager in the IT field and has extensive experience in salary negotiation. Trevor has worked for global telecom, power utililties, software development consulting, and a prevalent web 2.0 site. He has learned salary negotiating in the most powerfulway. Learn great tacticson the topic of salary negotiating at www.HowToNegotiateASalary.com.
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