Negotiating a Salary Package
APA Citation information:
U.S. Department of State. (n.d.).
http://www.state.gov/m/dghr/flo/c21638.htm
Why are there so many consultants making a living by advising clients on
how to negotiate a salary package? The answer is simple; the process is
complicated and most job seekers need further coaching when it comes
to closing the deal. Instead of saying "OK" to an offer, it may be beneficial
to pause and say "HMMM."
According to Jack Chapman, the well-known career consultant, telecoach,
and author of Negotiating Your Salary: How to Make $1,000 a Minute,
this single technique enables more people to negotiate a better salary
than any other. In other words, don't jump at the first offer. This single
technique along with the following information will assist you in
obtaining the most favorable compensation package.
Salary negotiation techniques can be divided into several categories:
Techniques to use when the employer first broaches the subject of
salary Your first response should be to repeat the amount of the offer and
then remain silent as if you are thinking about it. This lets the employer
know you heard the offered amount and you are considering how to
respond. Mr. Chapman calls this hesitation the "flinch." Once you are
ready to begin discussion, talk about your past experiences and have
ready a list of what you have to offer. Be sure to address any doubt that
may have been raised about your suitability for the position by
maximizing your skills, abilities and experiences.
Be prepared and informed This includes knowing just how badly the
employer needs to fill the position for which you are being considered.
This information lets you know how hard you can press for a better salary
offer. Most importantly though, you must have conducted comparative
salary research. At the end of this article you will find a list of excellent
resources where salary research can be obtained. This information will
allow you to determine your market value in the profession and
geographic area in which you are applying. Armed with this information,
along with your own salary history, you can determine at what salary level
the market values your experience.
Behaviors There are several behaviors that you should demonstrate when
meeting with a perspective employer. These include a demonstration of
excitement for the job - show your enthusiasm! The employer needs to
know you are serious about joining the organization. Be careful to not
bring personal needs to the discussion; make it a discussion of why the
employer needs you. Make it a friendly experience because if you decide
to accept the offer, this individual will very likely be your new boss.
Therefore, during the salary negotiation, demonstrate through your
words and actions that you already consider yourself a part of the team.
Remain calm and poised but be creative, flexible and, most importantly,
professional.
Disc.
Negotiating a Salary Package APA Citation information .docx
1. Negotiating a Salary Package
APA Citation information:
U.S. Department of State. (n.d.).
http://www.state.gov/m/dghr/flo/c21638.htm
Why are there so many consultants making a living by advising
clients on
how to negotiate a salary package? The answer is simple; the
process is
complicated and most job seekers need further coaching when it
comes
to closing the deal. Instead of saying "OK" to an offer, it may
be beneficial
to pause and say "HMMM."
According to Jack Chapman, the well-known career consultant,
telecoach,
and author of Negotiating Your Salary: How to Make $1,000 a
Minute,
this single technique enables more people to negotiate a better
salary
than any other. In other words, don't jump at the first offer. This
single
technique along with the following information will assist you
in
obtaining the most favorable compensation package.
Salary negotiation techniques can be divided into several
categories:
2. Techniques to use when the employer first broaches the subject
of
salary Your first response should be to repeat the amount of
the offer and
then remain silent as if you are thinking about it. This lets the
employer
know you heard the offered amount and you are considering
how to
respond. Mr. Chapman calls this hesitation the "flinch." Once
you are
ready to begin discussion, talk about your past experiences and
have
ready a list of what you have to offer. Be sure to address any
doubt that
may have been raised about your suitability for the position by
maximizing your skills, abilities and experiences.
Be prepared and informed This includes knowing just how
badly the
employer needs to fill the position for which you are being
considered.
This information lets you know how hard you can press for a
better salary
offer. Most importantly though, you must have conducted
comparative
salary research. At the end of this article you will find a list of
excellent
resources where salary research can be obtained. This
information will
allow you to determine your market value in the profession and
geographic area in which you are applying. Armed with this
information,
along with your own salary history, you can determine at what
salary level
the market values your experience.
3. Behaviors There are several behaviors that you should
demonstrate when
meeting with a perspective employer. These include a
demonstration of
excitement for the job - show your enthusiasm! The employer
needs to
know you are serious about joining the organization. Be careful
to not
bring personal needs to the discussion; make it a discussion of
why the
employer needs you. Make it a friendly experience because if
you decide
to accept the offer, this individual will very likely be your new
boss.
Therefore, during the salary negotiation, demonstrate through
your
words and actions that you already consider yourself a part of
the team.
Remain calm and poised but be creative, flexible and, most
importantly,
professional.
Discussing the salary offer Finally, there are several things to
consider
when discussing the salary offer. First, you should be prepared
with
options. Most employers are willing to negotiate, but they need
to know
you are also willing. Be sure to have established your absolute
bottom
acceptable figure and be prepared to walk away if necessary.
You may
4. have to explain your salary history or use it to justify the
desired salary.
Be prepared with facts and figures. Anticipate any objections
the
employer might be able to raise and be prepared to justify your
cost
effectiveness. Negotiating a salary package reconfirms to the
employer
that the decision to hire you over other applicants was the right
choice.
Make intelligent, well-informed salary statements and be sure
your
requested salary range is within the market value for your
profession in
the geographic area.
• Present a salary range that demonstrates your knowledge of
the local
market value.
• When requesting a salary range be sure to include a record of
your
contributions that defend the amount of compensation you are
requesting.
• In salary negotiations demonstrate the benefit to the
organization in
paying you more.
• Be realistic in the amount requested.
• Be sure to include other types of compensation that would be
valuable.
• Address the interests of the boss, therefore, know the interests
of the
boss.
5. • Proposal should be grounded on objective criteria.
The above techniques are valuable in a salary negotiation
anywhere in the
world. It is important that spouses of Foreign Service
employees
remember to focus on a couple of additional issues. Inevitably
the short
period of your availability will be a concern, but you can turn
this into a
positive by demonstrating how much your experience will bring
to the
position or organization. Additionally, the lower cost of
employing you
can usually be a positive influence because you would not
require the
same benefits package that a local hire would. The lack of any
relocation
costs and concerns with labor laws guaranteeing long-term
employment
should weigh in your favor and be used in your negotiations.
Finally,
remember that in more than one hundred thirty-seven countries
you have
the legal right to work and can obtain the necessary working
papers with
few or no problems.
If the organization, professional field or specific position you
are
pursuing will benefit by your U.S. training, education, and/or
experience,
6. be sure to emphasize these assets when negotiating. This is
particularly
true for teachers. Many international schools offer different
salary
packages, depending on whether the teacher is hired locally or
in the
United States. Learn what salary options are available by the
school
before accepting a salary offer. You can negotiate, but you must
begin by
responding to that first offer with "HMMM"!
Salary negotiation is an integral part of a successful job search.
By
applying the techniques and behaviors described here, you too,
can
negotiate a more attractive job offer.
Resources for Comparative Salary Studies
• Abbott, Langer & Associates, Inc provides salary and benefits
survey
reports for information technology, marketing, accounting,
engineering, human resources, manufacturing, legal work,
nonprofit work, consulting and a few other fields -
http://www.abbott-langer.com
• CareerBuilder.com - http://www.cbsalary.com
• CareerJournal.com (Wall Street Journal) - Salary Tables
• Comparative Salaries -
http://www.ne.ch/promeco/pages/e/eco_data_sal_e.asp
• Economic Research Institute offers almost 100 international
salary
surveys - http://www.erieri.com
7. • Jack Chapman's web site - http://www.salarynegotiations.com
• JobSmart: Profession-Specific Salary Surveys -
http://jobstar.org/tools/salary/sal-prof.cfm
• Move.com - The International Salary
Calculatorhttp://www1.move.com/Move/Tools/SalaryCalcInt.as
p?poe=move
• The Office of Personnel Management lists the pay scales and
wage
systems of the federal government -
http://www.opm.gov/oca/payrates/index.htm
• The Riley Guide hosts a compilation for all sites that review
salary
information - http://www.rileyguide.com/salary.html#colls
• Salary.com - http://Salary.com
• SalaryExpert.com - http://www.salaryexpert.com
• Teacher salaries - http://www.aft.org/salary/index.htm
• Vault Company - http://www.vault.com/salaries.jsp
Books
Chapman, Jack, (2001) Negotiating Your Salary: How to Make
$1,000 a
Minute, Berkeley, CA: Ten Speed Press.
Krannich, R. (1990) Salary Success: Know What You're Worth
and Get It!,
Woodbridge, VA: Impact Books.
Medly, H.A. (1984) Sweaty Palms: The Neglected Art of being
8. Interviewed,
Berkeley, CA: Ten Speed Press.
Studner, P. (1990) Super JOB Search, Los Angeles, CA:
Jamenair Ltd.
Yate, M. (1990) Knock 'Em Dead With Great Answers to Tough
Interview
Questions, Holbrook, MA: Bob Adams, Inc
Information provided by the Family Liaison Office Contact
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Article retrieved from the ITT Tech Virtual Library.
U.S. Department of State. (n.d.). Negotiating a salary package.
http://www.state.gov/m/dghr/flo/
c21638.htm
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9. Quiz 2 MATH 107 Fall 2014
Graph the equation and state its domain.
1) y = x2 + 3
2) -6y = 3x - 3
Find an equation for the circle.
3) Center at (5, 0), radius 1
Find the center and radius of the circle.
4) (x + 2)2 + y2 = 1
Find the slope of the line containing the given points.
5) (6, -3) and ( 9, 7)
Graph the linear equation and determine its slope, if it exists.
6) y = - 0.25x + 5
Write an equation in slope-intercept form for the line shown.
7)
Write a slope-intercept equation for a line with the given
characteristics.
8) m = 2, passes through ( -3, -7)
Solve each of the following.
9) -95 = 10x – 5
10) 8x = -4
11) -3(3x + 19) = 56
12) 2x – 5 > x + 9
13)
10. Negotiating Salary in a Bad Economy
Despite lagging consumer and business confidence and
Thursday's dramatic market tumble,
Friday's unemployment report demonstrates that some
companies are still hiring. The U.S.
created a net total of 117,000 non-farm jobs in July, notching
the unemployment rate down one
tenth of a percent, to 9.1%. Some sectors like technology are
even struggling to fill all their open
positions. In fact the private sector created 154,000 new jobs
last month, offset by the
elimination of 37,000 government jobs, mostly at the state and
local level where budget
shortfalls have prompted cuts.
In other words, despite the debt ceiling bill's dampening effect
on the employment picture, job
seekers continue to land new positions. Though it might seem a
strange time to release a book on
how to negotiate salary, it's worthwhile to bone up on the latest
thinking about strategies for
landing the best possible compensation package. A compact and
entertaining new book by
Wired's associate director of marketing, Jim Hopkinson, Salary
Tutor: Learn the Salary
11. Negotiation Secrets No One Ever Taught You, lays out some of
the basics in an engaging style.
The best part of this slim volume is Hopkinson's personal story
about how he went from college
grad with a degree in Computer Information Systems to unpaid
intern to clerk in Staples'
computer department, on to several more jobs that culminated in
his current post in the
marketing department at Wired, a division of Conde Nast. He
peppers his narrative with first
person anecdotes about his career decisions, and lessons he's
learned.
The most novel aspect of Hopkinson's approach: he recommends
preparing a single-page
document he calls the IRS, or Industry Research of Salaries,
that takes into account salary data
from websites like Salary.com, Payscale.com and
Glassdoor.com, and from personal networking.
He even suggests candidates hire a designer to prepare the IRS
sheet, which would graph the
salary range for a position from low to high, and list details
about achievements (including years
of experience and skills like "accomplished speaker"), specifics
about the job (eg. Seattle area,
12. manage a team of 3) and information resources that the salary
information sources.
To me, this exercise seems like overkill. By all means,
candidates should do plenty of homework
and research the salary range for a position in advance. They
should also give serious
consideration to salary goals and limits, and what sorts of perks,
like vacation, benefits and
flextime, they would be willing to trade for money. But the
most important rule of salary
negotiation is the one Hopkinson notes in another chapter: The
candidate should not be the first
to name a number.
Hopksinson helpfully covers how to fill out applications that try
to force job seekers to name a
number. In the blank where it says "previous salary," he
recommends writing, "competititve."
Where an application asks for desired salary, write "negotiable."
Hopkinson advises that even
when applications say, in all caps, "APPLICATIONS THAT DO
NOT INCLUDE FULL
SALARY HISTORY WILL BE DISCARDED," do not fill in the
blank with a specific number.
13. The way around this demand is through networking. Find
someone at the company who can put
your application into the hands of a hiring manager.
Hopkinson also includes some helpful suggestions on how to
answer salary questions in an initial
interview. When the human resources rep asks about your
desired salary, you can say, "Well, I've
actually done a fair amount of research while preparing for this
interview… what I found is that
there was a pretty wide range depending on a number of factors,
and I'd really need to have the
full picture of all the responsibilities before I know what that
range is."
A creative response to the what-were-you-making question:
"Well, the reason I didn't list my
previous salary on the application is that I've been freelancing
since I was laid off, and the
compensation for that would equal $200,000 if you calculated it
annually." Hopkinson also
points out that at most large companies, employees are issued
policy handbooks that include the
instruction that employees should not share sensitive company
information with the public. If the
14. HR rep presses you and says she can't move you on to the next
interview without knowing your
current salary, you can say, "I'm sorry but the employment
contract I'm under with my current
employer does not allow me to reveal my compensation.
However, I'm sure that when the time
comes to discuss salary, we won't have a problem settling on a
number we can both agree on."
For Hopkinson, the crucial stage of the salary negotiation
process comes after the potential
employer has named a number. He recommends that candidates
always try to push the offer
higher. One strategy, when you're offered a range, is to take the
top number in the range and then
just repeat it and add the word "hmmm." So if you're told the
position is budgeted at $65,000 to
$75,000, your response would be, "$75,000, hmmm." Hopkinson
encourages candidates to push
for a higher number, while emphasizing their experience and
accomplishments. Negotiate for
perks like title, benefits, bonuses, vacation and period salary
reviews.
Reading through Hopkinson's book, I noted the two stories
we've run on salary negotiation. I
15. think he'd agree with our tips. Here are two slide shows on the
topic, with a total of 16 pointers.
By Susan Adams
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Article retrieved from the ITT Tech Virtual Library.
Adams, S. (2011). Negotiating Salary in a bad economy.
Forbes.Com, 24.