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!
Doing extensive research before you approach your boss for a pay increase or before you discuss salary negotiation at job offer time, is an imperative. It is like a game of chess. You cannot reveal to your opponent what your next move will be. Likewise, you do not want to reveal your salary history if you can avoid it, and don't discuss salary too early.
Know how much compensation you can command before you ever discuss salary negotiation with an employer.
If you are looking for a new job or are trying to ask for a raise, do salary research on the Internet first. There are great sites like SalaryExpert.com or Payscale.com who calculate all the salary information that is available.
One challenge is understanding the reliability of the source of the information. If a resume website is reporting salary ranges as reported by their list of job seekers, it may not be as precise as if the salaries are reported by the human resources department of the firms that are seeking to recruit personnel.
Another method, if you are a little intrepid, is to do a bit of discreet research. If you know people who work for the firm, and are not fearful of asking direct questions, you may well find find out what other staff are earning in the same job for that business.
The best source of information is a trusted friend who works in HR. You may find out that the company pays well, or you may find out that they are cheap. Any way you can find accurate information will be helpful.
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.
Next, salaries ranges are often reported based on percentages. A business systems analyst salary range may be from $50,000-$90,000 for a given region, but the reporting will be based on 0-25%, 25-50%, 50-75% and 75-100%.
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.
I have found it to be very useful to point blank ask friends at work where they feel I should be on the salary scale. They know themselves and measure themselves against you. You should do this with someone you have a very good raport with. You will get great direct feedback.
It is critical for you to know the value of the skills you bring, and be able to measure them in quantitative terms. That is financially describably terms. Hard cash numbers resonate with employers. If you can say, I saved the company $150,000 last quarter due to the efficiencies I implemented, you are on a great platform to justify your salary negotiation.
To your salary negotiation success. - 16492
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!
Doing extensive research before you approach your boss for a pay increase or before you discuss salary negotiation at job offer time, is an imperative. It is like a game of chess. You cannot reveal to your opponent what your next move will be. Likewise, you do not want to reveal your salary history if you can avoid it, and don't discuss salary too early.
Know how much compensation you can command before you ever discuss salary negotiation with an employer.
If you are looking for a new job or are trying to ask for a raise, do salary research on the Internet first. There are great sites like SalaryExpert.com or Payscale.com who calculate all the salary information that is available.
One challenge is understanding the reliability of the source of the information. If a resume website is reporting salary ranges as reported by their list of job seekers, it may not be as precise as if the salaries are reported by the human resources department of the firms that are seeking to recruit personnel.
Another method, if you are a little intrepid, is to do a bit of discreet research. If you know people who work for the firm, and are not fearful of asking direct questions, you may well find find out what other staff are earning in the same job for that business.
The best source of information is a trusted friend who works in HR. You may find out that the company pays well, or you may find out that they are cheap. Any way you can find accurate information will be helpful.
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.
Next, salaries ranges are often reported based on percentages. A business systems analyst salary range may be from $50,000-$90,000 for a given region, but the reporting will be based on 0-25%, 25-50%, 50-75% and 75-100%.
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.
I have found it to be very useful to point blank ask friends at work where they feel I should be on the salary scale. They know themselves and measure themselves against you. You should do this with someone you have a very good raport with. You will get great direct feedback.
It is critical for you to know the value of the skills you bring, and be able to measure them in quantitative terms. That is financially describably terms. Hard cash numbers resonate with employers. If you can say, I saved the company $150,000 last quarter due to the efficiencies I implemented, you are on a great platform to justify your salary negotiation.
To your salary negotiation success. - 16492
About the Author:
Trevor Davide Grant is a project manager in the IT field and has extensive experience in salary negotiation. Trevor has worked for global telecom, power utililties, software consulting, and a prominent web 2.0 site. He has learned salary negotiating in the most effective way. Learn great tips on the topic of salary negotiating at www.HowToNegotiateASalary.com.
