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>> The most over-looked state of the employment process may
also be the most important. These tips will help you get what you
deserve. |
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The compensation negotiation process is poorly understood by most job
seekers. Candidates that have confidently and eloquently convinced a hiring
company to make an offer revert to tongue-tied timidity once salary negotiations
begin. This leads to leaving money on the table, or worse, never receiving an
offer.
Before even getting involved in negotiations, do your homework. Find out as
much as possible about the industry and the salary ranges of people in similar
positions in that industry. A part of your regular pre-interview research should
encompass salary and compensation information on the company. Are the hamstrung
by rigid salary ranges? Also, use any industry contacts you may have to get a
sense of the companies reputation. Do their corporate peers hold them in high
regard? Are their salary ranges within the industry norms? The more you know
about the company's compensation policies, the stronger your negotiating
position.
>> Never be the first to mention money.
As a rule, never be the first to mention money; if possible, the compensation
discussion should take place only after an offer is made. Waiting until you are
offered the position increases your leverage. Speaking too soon could price you
right out of the job, or result in money left on the table.
Remember to negotiate your entire compensation package, not just your salary.
This may give you the opportunity to find creative ways to increase your
package. Offer to sacrifice a few perks for a slightly higher salary - or vice
versa. The more flexibility you display, the greater the oddsof a mutually
beneficial conclusion.
The purpose of these negotiations is not to "win", but to achieve your
remunerative goals. Don't forget the person you are negotiating withis often
your soon-to-be boss. Your success in this position is more than likely directly
related to your ability to work together. Today's boss is often tomorrow's
reference.
The employment relationship is unique, and ideally, long-term. The
negotiation process is an important first
step. |