Prior to salary negotiating, it is very important to know exactly what your market value is. If you do not know exactly what your market value is, then it is like being blindfolded and not knowing what salary to ask when you ask for a raise or try to negotiate the best salary in your next job.
Without doing your legwork, your employer will probably suggest an increase that you find disappointing. While people around the world negotiate salary every day, not many of them are able to get the most out of salary negotiation!
Research the market in advance of approaching your boss for a pay raise, or before revealing your expectatiosn for salary at job offer time. It is like a game. Do not reveal your information too soon. In this case, your strategy is to keep your information close to you. It could be your past salary history, or what you are planning to ask for in salary negotiation.
You should know what salary you can expect before you talk about it with your employer.
Whether you are looking for new employment or you are asking for a pay raise, do your research first. There are great Internet resources available, like SalaryExpert.com or Monster.com. These sites have continual access to all the salary information that is available.
It is important for you to know the the accuracy of the source of the salary market information. If a website is reporting pay scales as reported by their list of members, it may not be as current as if the salaries are reported by the HR departments of the companies in that job market.
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.
Better yet, if you can ask a valued human resources friend, you may find out not only about the company you work for, but you may also find out about other companies in your market. Whatever information you can find out, will be useful, as long as the source is someone you can believe.
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.
You know how well you perform at your job. Do a self evaluation, and figure where you feel you fit in the percentile of performance for that career level. If you are in a lower percentile, it may be that you're new to the job role. If you are in a higher percentage, you're a super-star with plenty of experience, and you know you add a lot of contribution.
If you don't genuinely know, you might ask for some honest feedback from a trusted co-worker, or from a friend in a similar position elsewhere.
Numbers speak loudest when dealing with employers and bosses. If you want to earn a larger salary, you need to make them understand you are worth it because you either cut costs, improved business efficiency, or drove profits. You know the work you do, and if there are quantifiable facts, use them to your advantage. If you don't relate directly to the bottom line, think of other quantifiable facts (e.g. a teacher with a high rate of students on the honour roll). This is the best way to communicate your value.
Wishing you success in learning how to negotiate a salary like a pro!
Without doing your legwork, your employer will probably suggest an increase that you find disappointing. While people around the world negotiate salary every day, not many of them are able to get the most out of salary negotiation!
Research the market in advance of approaching your boss for a pay raise, or before revealing your expectatiosn for salary at job offer time. It is like a game. Do not reveal your information too soon. In this case, your strategy is to keep your information close to you. It could be your past salary history, or what you are planning to ask for in salary negotiation.
You should know what salary you can expect before you talk about it with your employer.
Whether you are looking for new employment or you are asking for a pay raise, do your research first. There are great Internet resources available, like SalaryExpert.com or Monster.com. These sites have continual access to all the salary information that is available.
It is important for you to know the the accuracy of the source of the salary market information. If a website is reporting pay scales as reported by their list of members, it may not be as current as if the salaries are reported by the HR departments of the companies in that job market.
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.
Better yet, if you can ask a valued human resources friend, you may find out not only about the company you work for, but you may also find out about other companies in your market. Whatever information you can find out, will be useful, as long as the source is someone you can believe.
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.
You know how well you perform at your job. Do a self evaluation, and figure where you feel you fit in the percentile of performance for that career level. If you are in a lower percentile, it may be that you're new to the job role. If you are in a higher percentage, you're a super-star with plenty of experience, and you know you add a lot of contribution.
If you don't genuinely know, you might ask for some honest feedback from a trusted co-worker, or from a friend in a similar position elsewhere.
Numbers speak loudest when dealing with employers and bosses. If you want to earn a larger salary, you need to make them understand you are worth it because you either cut costs, improved business efficiency, or drove profits. You know the work you do, and if there are quantifiable facts, use them to your advantage. If you don't relate directly to the bottom line, think of other quantifiable facts (e.g. a teacher with a high rate of students on the honour roll). This is the best way to communicate your value.
Wishing you success in learning how to negotiate a salary like a pro!
About the Author:
Trevor Davide Grant is a IT manager in the IT field and has extensive experience in salary negotiation. Trevor has worked for large telecom, electric utilities, software development consulting, and a prominent social network. He has learned how to negotiate a salary in the most powerfulway. Learn great tips on the topic of negotiating salary at www.HowToNegotiateASalary.com.
0 comments:
Post a Comment