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Salary and Benefit Negotiations

You've done it! The combination of excellent resume, cover letter,

job searching and researching, and a superb interview has led to the

final phase in the job search process... and the one in which too many

people underestimate their value. Few people know what they are re-

ally worth, and fail to adequately negotiate salaries and benefits, be-

lieving that these options are predetermined and unchangeable. Don't

make this tragic mistake. Talk about money and benefits with confi-

dence, because you are VALUABLE to the employer—otherwise, why

would they offer you a job?

There are many different considerations to think about at this point,

so prepare yourself to help yourself to the salary and benefits you

deserve, without appearing greedy. Several books will help get you

started:

• Negotiating Your Salary. How to Make $1,000 a Minute by Jack

Chapman

• Dynamite Salary Negotiations: Know What You're Worth and Get

If! by Ronald L. and Caryl Rae Krannich, Ph.D.s

 

Let the employer bring up salary first. If an employer asks you about

your salary expectations prior to the offer, either state that you are

"flexible," or provide a salary range. If this question is presented prior

to the interview (for example, when a recruiter calls you to schedule

an interview), it is perfectly acceptable to indicate that you would first

like to learn more about the job's responsibilities before you state a

salary or range.

The most important step in this process is to research salary

and benefits. Let's face it, most of us probably don't follow trends

for benefits and salary ranges; after all, isn't that a job for human

resources professionals? It's time to become your own HR pro. and

learn about the salary ranges for the position you seek, in your com-

pany, in your industry, in your geographic area.

Think about the "compensation package," which includes not only

salary, but also benefits like life, health, and disability insurance; a

retirement plan; stock options and profit sharing; and paid leave. If

you are moving from one company with a salary of $30,000 per year

with no benefits other than paid vacation, into a company that wants

to pay you $33,000 per year (a 10% increase in salary), but offers you

free health care, life, and disability insurance, as well as an additional

five days of paid leave per year, your total compensation package

has actually increased more than 10%!

Don't be afraid to ask the employer about the range for your posi-

tion, as well as for someone with your qualifications. When you learn

the range, refrain from leaping with joy or running away! A few mo-

ments of silence will indicate that you are considering the offer. If the

salary is considerably lower than your research has indicated, mention

the range your research discovered—now is the time to uncover the

reason for that discrepancy. Also, if applicable, indicate that your train-

ing and educational background should place you in the higher end

of the range, since you are able to hit the ground running, without

extensive training. If you don't seem to be getting anywhere with sal-

ary negotiation, approach the possibility of increased benefits, such as

more paid vacation, stock options, or a salary review after your proba-

tion period has passed.

When you have concluded the negotiations to your satisfaction,

pause. Do not accept the position on the spot. Tell the employer you

would like the offer in writing and a few days to consider the opportu-

nity. The ball is in your court now, especially once you have a written

offer in hand. Return to your online sources to research the informa-

tion you have been provided. Will you save commuting costs, or will

this position involve relocation costs? Take the time to consider

the offer carefully, and pat yourself on the back for getting the offer!

Impact Publications

www.impactpublications.com

This site offers the most comprehensive career store you could

desire, but it also provides a number of valuable Ups that will

help in your interviewing and negotiation process. Special inter-

view articles include "What's Your Interview I.Q.?" and "10

Deadly Interview Mistakes Job Seekers Make." Salary negotia-

tion skills include "What's Your Salary I.Q.?" "30 Salary Nego-

tiation Mistakes to Avoid," and "Salary Savvy, Salary Sins."

and

The Bureau of Labor Statistics provides both sites, which con-

tain some of the most highly requested data for compensation

and benefits. The sites include data up to 1997, which can still be

helpful as a baseline. Both list links to The Compensation and Working

Conditions and The Monthly Labor Review publications.

The National Compensation Survey lists specialty industry

surveys, occupational wages in the United States, a glossary of

compensation terms, a business information guide, and guide-

lines for evaluating your organization's pay Other related infor-

mation includes employment cost trends, occupational employ-

ment statistics, a link to the Occupational Outlook Handbook (which

includes job outlook and earnings), and much more.

The Employee Benefits Survey site breaks down its data into

medium and large private establishments and small private es-

tablishments. It also includes a variety of current and historical

articles arranged by benefit topic and links to additional infor-

mation.

CAREER

 SHOPPING MALL > CAREER

TITLE: Career Search & Job Search is the leading career center in US.

Career Category: Jobs, Career, Resume, Job Search, Career Search, Job Listing, Monster Job, Job Bank

Site Description: Career Search and Job Search offers tips and free resume sample, resume writing, example, cover letter, write resume, resume template format, help, and resume builder. Post resume for free.

Career Topics: Career Builder, Engineering Career, Search, Planning, Links, Test, Information, Change, Education, Job Opportunity, Assessment, Counseling, Career Center, Monster Job, Job Bank, Government Job, California Job, Job Listing Online