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December 16, 2017

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Salary Basics

Most people don't enjoy salary negotiation, however, to look after number one (yourself!) you need to know what you want and go after it. To do this successfully, you always need to be tactful as well as have your research done. Below are some tips to help in getting the information (and the salary) you need.

Do Your Research
There are many sites out there with salary calculators that help in getting salary ranges. Oftentimes, the job description may not exactly match what you'll be doing in the new position. Gather a couple of different close job titles and their descriptions. Usually the salaries will be close.

Another good resource is to use your networking contacts. You should have several people within your network knowledgeable about the industry you are in and should be able to give you generalities on what to expect for a salary. If someone within your immediate network can't help you with this, they may be able to refer you to someone who does.

Items that are Negotiable
Never forget that everything is negotiable. This is not only the salary, but also vacation time, signing bonuses, moving costs, and review time periods with raises.

While you don't want to be overly aggressive with your monetary requirements, use the research you've done to negotiate and justify a fair salary. Don't forget to do some more selling of yourself and demonstrate to the employer what you'll be able to bring to the company.

If the company can't offer any more money because of departmental budgets they need to stay within, move on to other items in your compensation package that would make you more satisfied. Try getting a couple of more vacation days, or ask for a shorter monetary review period.

Overall, there are a few things you need to remember. Be confident about what you want and don't feel obligated to accept the first offer given to you. And when you settle on your compensation package, make sure to get everything in writing.



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