SALARY NEGOTIATION
PRICE YOURSELF OUT OF THE JOB OFFER?
Salary negotiations can be tricky. You don't want to price yourself out of a job offer. Some candidates ask for a salary that is thousands of dollars more than the company has budgeted for the position.
On the flip side, it's important to get paid what you are worth and you don't want to be taken advantage of, you need to earn a paycheck that is going to be enough to pay the bills. If you have a recruitment consultant to represent you, it is the consultant's responsibility to negotiate the job offer favorably, getting you best possible package whilst satisfying the company's needs.
If you are negotiating directly with the organization, have a clear and realistic idea of what you want regarding compensation and benefits. It is advisable to research salary ranges for roles similar to yours, so you know what is realistic and what not to accept. If you feel you are worth a higher salary, and the company has a range it must stay within, use benefits, such as additional holiday, further education, bonus opportunity and so on, to enhance the job offer.
Before asking a pay raise, think what you have achieved recently and why you deserve the pay rise. You will need to explain what skills and benefits you have brought to the company, how you have excelled in your role in particular and that you are a loyal employee. You should note any expectations you have exceeded, any additional responsibilities you have incurred and any extra achievements you have made that stand out and you feel you deserve credit for.
NEGOTIATE SALARY TACTIC
Negotiating Salary should also consider the following factories:
- Is there a shortage of candidates with your skill set in the industry you work in?
- Is your skills set commonly find in the job market?
- Have the general salaries been rising or falling within particular sector?
Take your total package in consideration:
- Vacation time, flexibility, tuition reimbursement, and the date of your next salary review
- Overtime, days off, and relocation expenses
- Tax effective components of your salary
- Benefits (health, retirement, disability, stock options, education assistance)
- Relocation expenses, and reimbursement for commuting costs
Virtually anything a company can provide an employee can be a negotiation factor. If you are partnering with Hillman Ross Consultant they will be happy to facilitate this of this aspect of the job offer for you. All our consultants have in depth experience in the salary negotiation process.