T
OP
10 TIPS:
Salary
Negotiations

Knowing salary administration strategy from
the Corporate view, The Careerpilot is not surprised by the actual marketplace
performance of today’s professionals in career transition. Even in the "soft
market" conditions of second quarter 2002, Candidates have been seeing 15%
increases to be commonplace… even higher with some highly marketable Candidates
or from within high demand industries and companies. You can negotiate anything.
Here are my "TOP TEN TIPS" for negotiating a new salary.
- Research your profession's salary range…
Check with recruiters in
your field, the U.S. Department of Labor's Occupational Outlook Handbook,
competitors, trade publications, your local chamber of commerce and the
Internet: "salaryexpert.com" and "salary.com" are two of my favorites.
- Select a target salary...
You may not get what you want, but
having a specific objective can help you get close. Keep total "position
worth" and your value proposition in mind.
- In discussing significant increases over salary history…
Prove
your value with examples from actual experience. Comparisons to your current
salary are irrelevant and should be avoided; you're talking about the benefits
you'll bring, not your past salary, which you may have had no control over.
- Don't initiate salary discussions…
Wait for the interviewer to
bring the subject up, even if it's postponed to a second interview. There are
at least three tactical "scripts" to help you: BLOCKING, TURNAROUND and
FORCING FEEDBACK.
- Move from "past salary history" to discussion of your "salary
requirements",
they're "negotiable." … Do the same on applications by
writing "negotiable" in any box asking about salary details. If the form asks
you to provide current salary, write, "to be discussed." Your advantage is to
attach salary to specific JOB, not YOU.
- Be prepared to state actual past salary in terms of current market
conditions…
but only when pressed.
- Discuss benefits and other negotiable items separately from salary...
Your list of benefits and other negotiable items generate your total position
worth or value. Your advantage is to attach salary to the specifics of the
JOB, not YOU and your skills and experience.
- Analyze all benefit packages
… with an insurance, investment or
bank professional, even a trusted HR professional. They can help you
understand benefit language and may look at the offer more objectively.
- ALWAYS consider the cost of living when relocating…
If it's
higher, suggest some form of balancing compensation or other offset.
- Always assume a firm's first offer is negotiable, never accepting the
initial offer…
Rather, express your strong interest, but state you
always discuss decisions of this magnitude with advisers whose judgment you
have relied upon for years. Tell your interviewer when you'll contact him or
her with your decision.
By following the tips above, you’ll increase your chances of
receiving a pay increase or other significant improvement to your total position
worth or value. Your mindset is directed toward a value increase… practice
tactics to develop that confidence and "poker face."
THE CAREERPILOT