Top 10 Salary Discussion Tips
Sacha Cohen
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The interview is going well: You've answered
questions about your future goals and your past
job experience with flair. The interviewer has
already started using phrases like, "When
you start working on XYZ project
."
It all sounds very promising. And then, she brings
up salary. For many job seekers, this can be one
of the stickiest parts of the interview process.
Here are our top 10 tips for getting the salary
and benefits package you deserve.
1. Know What You Are Worth
As with all other aspects of the interview, preparation
is essential. You must go into the interview anticipating
a discussion of salary history and your future
expectations. One of the best ways to make sure
that you're not blindsided by the question, "How
much are you expecting to make at this job,"
is to know how much you're worth in the first
place. A great place to start your research is
with Chemical
& Engineering News's annual salary survey
article. This will help you determine your
fair market value.
The American Chemical Society Department of Career
Services conducts annual salary surveys of the
membership and annual starting salary surveys
of new graduates in chemistry and chemical engineering.
These surveys present data by highest degree,
employer type, employer size, work function, and
other demographic data. (For more information,
contact ACS Career Services, 800-227-5558, ext.
6153).
2. Have an alternate plan
Elizabeth Austin, co-author of The
Good Girl's Guide to Negotiating: How to Get What
You Want at the Bargaining Table recommends
that you walk into any interview situation with
an alternative plan. "Figure out what you'll
do if this job opportunity doesn't work out. What
will you do if the starting salary is below your
minimum? Look at worst-case scenarios-look them
square in the face. You might find that you do
have some alternatives," says Austin. She
also advises against putting all of your eggs
in one basket. Don't hang all of your hopes and
dreams on one job opportunity without making sure
you have a backup plan. Without a plan B, you
may come off as desperate, which will not help
when it comes to negotiating.
3. Make them talk money first.
When they give you a number, repeat it back to
them, recommends Austin. "Don't say yes and
don't say no. Repeat the number in a thoughtful
tone. That way, they know you heard it. Then take
a moment, sometimes silence will get them to throw
out a higher number." Austin says that if
at all possible, let the employer give a number
or range first. Avoid the question of salary as
long as possible.
4. If pressed, always give a range.
Most career experts suggest that interviewees
avoid giving a hard number when asked what they
expect to make at their new job. Negotiation coach
Michael Chaffers says, "In selecting a salary
figure, avoid tactics that lead to arbitrary numbers.
Whenever you put a figure out there, you have
to prepare a persuasive answer for the question
'Where does that number come from?' In many cases,
a random increase over your last salary feels
like an arbitrary number. You will be more persuasive,
and probably feel better about the figure, if
you do your research."
If you quote a range, be certain that the lowest
figure is still a fair salary, advises Chaffers.
"One way to lessen the danger of being tied
to the lowest number in the range is to make clear
why you believe the higher figures are more appropriate
for you, given what the market pays for your distinctive
abilities and experience."
5. Alternatives to a higher salary.
Sometimes, an employer won't negotiate salary.
If this is the case and you aren't pleased with
the offer, consider other perks and benefits that
might offset a less-than-stellar offer. For example,
you might negotiate more vacation time, flextime,
transportation reimbursement, or the chance to
telecommute.
If you do agree to take certain benefits in lieu
of salary, make sure that what you are getting
is useful and valuable in the short and long-term.
"Don't let yourself be dazzled by meaningless
incentives," warns Austin. "Also, think
about the benefits long term. A benefit that might
not be useful to you today might be important
down the road, such as family dental insurance
when your kids need orthodontia in a few years.
6. Ask for frequent salary reviews.
When all else fails, if you're would-be employer
isn't budging on salary, you might want to ask
for regular performance reviews with an option
of a salary increase. Ask for a six-month review;
keep your resume out there. This way, an employer
can evaluate you before doling out big bucks for
unproven skills.
7. Tell the truth
Don't lie about your current salary; you could
be asked to produce a W-2 as confirmation. At
the same time, however, try to avoid answering
this question by turning it around and asking
the employer what range they expect to pay for
this particular position.
"If pushed to the wall, tell the truth about
your current salary, but don't reveal if at all
possible," says Austin. Sometimes, there's
more to a salary than meets the eye. It's important
that you explain why the numbers don't necessarily
reflect your current situation. For example, you
may have been taking a lower salary in exchange
for more time at home with kids. But once your
kids go a way to college, you won't need that
extra time.
8. Weigh stock options & signing bonuses
carefully.
A few years, some companies were able to lure
talent with the promise of getting rich overnight
with stock options. But people have wised up in
light of the stock market roller coaster and now
aren't as eager to take stocks in lieu of fair
pay. Simply put: Stocks are a perk, not a substitute
for a competitive salary. Stick with the salary
you had in mind in the first place and don't let
the possibility of quick wealth cloud your good
judgment.
In addition to the lure of stock options, another
way that employers sometimes sweeten the pot is
with signing bonuses. David Jensen of Search
Masters International says that frequently
companies use one-time cash bonuses, or hiring
bonuses, to offset costs-of-living differences
and other setbacks that a person might have to
make in order to take the new job. Signing bonuses
are nice, but that money is not added into your
base salary and will not be figured in for your
year-end review. Because future raises will be
based on your actual salary, you want to come
into the job with as high a salary as you can
negotiate.
9. Take some time.
Once a salary offer has been made, it's in your
best interest to think it over for at least a
day before getting back to the interviewer with
an answer. When the employer makes an offer, tell
them that you are very interested in working for
them but will need a little time to consider the
offer.
10. Put yourself in the employer's shoes.
"Think of your salary from your employer's
point of view," suggests Austin. "It's
your job to show them that the benefits outweigh
the costs." She suggests preparing a cheat
sheet that you can bring with you to the interview
that outlines what skills and experiences you
bring to the table that justify the salary you
are expecting. For example, did you save your
last employer a certain amount of money on a project?
Or, did you help institute a process that helped
the company make more money over the long term?
Be as specific as possible so you can show the
employer why you'll add value if they hire you.
Take a win/win approach to the negotiations;
your attitude can affect the outcome. Be enthusiastic
about the job and restate your ability to do it
well. Ask about the overall compensation package
and policy versus actual practice, and then inquire
about the salary. Let the employer know that you
are very interested in the job and ask whether
there is room to negotiate on the salary and/or
benefits. Don't reject an offer out of hand because
the dollars or other parts of the offer may not
be exactly what you expect.
Sacha Cohen is a Washington-based business
and technology writer. Her work has appeared in
The Washington Post, Kiplinger.com, Fast Company,
Oxygen's ka-Ching and other print and online publications.
Cohen has been covering Internet trends and culture
since 1996.
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