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Before you go into the interview, it is important to
know what salary you want, what you need to live on,
and what you will be prepared to accept. Spend some
time working out your budget. Remember to factor
into your calculations the remuneration you'll need
in the future.
Decide what types of benefits are important to you.
A compensation package might include: flexible work
schedule, option to work at home, relocation
expenses, pension and insurance plans, company car,
holidays, stock options, profit-sharing, training
opportunities, etc. By evaluating these beforehand,
you can concentrate on bargaining in the negotiation
process.
It
is important to know your market value. You can do
this by consulting professional associations, job
advertisements, business and trade periodicals,
employment agencies, executive search companies,
career-related websites, and on-line salary surveys.
Since salaries often vary according to location, you
should research comparable positions at similar
companies in your geographical area. Investigate
your prospective employer's track record for making
offers.
To
strengthen your negotiating position, try to
ascertain how urgently the company needs to fill the
post. It also helps if you have another offer to
consider.
When completing application forms, say that your
salary requirements are "negotiable" or
"competitive." Don't state a specific figure on your
resume.
Don't be the first to mention salary during the job
interview. Let the employer introduce salary first.
If the interviewer insists on a specific figure, ask
for details of the company's customary salary range
for that type of position. Stress that you are
confident you will be able to arrive at a mutually
agreeable sum.
Do
not negotiate a salary until you receive a job
offer. By making the offer, the company is
indicating that they consider you to be a valuable
asset, thus putting you in much stronger bargaining
position. When asked at this stage to express your
salary requirements, be as non-specific as possible.
Instead of an exact amount, state a range and
indicate that you are willing to negotiate.
Use
timing to establish your value. Don't be too quick
to accept the employer's first offer.
If
the offer is unacceptable, go back to talking about
the responsibilities and importance of the job.
Stress how keen you are to work for the company and
how much you feel you can contribute. Maintain a
calm, friendly, and professional demeanour at all
times.
Anticipate objections and be prepared to overcome
them. Assess the company's needs beforehand and
justify your salary request by showing them how they
will benefit from your skills, knowledge, and
experience.
Be
creative in suggesting salary options. If the
company is not in a position to offer a higher
salary, concentrate on negotiating parallel benefits
such as performance bonuses, company car,
profit-sharing, etc.
Remember that you are negotiating your relationship
with your prospective employer. It should be a
collaborative process. Both parties will benefit
from a successful outcome. Avoid conflict. Be firm
but friendly in asserting your rights.
If
you are satisfied with the offer you receive, try to
resist the urge to accept on the spot. Instead,
express your enthusiasm about the prospects of
joining the company and ask for a little time to
consider the offer.
When evaluating the offer, consider all the relevant
factors, e.g. salary, benefits, responsibilities,
location, environment, and promotional prospects.
Once you have accepted the job offer and agreed on
the salary and benefits, ask for a letter of
confirmation.
Gerard McLoughlin, Director of Assignments Plus
Communications, has contributed career-related
articles to hundreds of recruitment companies,
websites and publications throughout the world,
including: USA Today, JobBankUSA.com, US-Recruiters.com,
Jobs1.co.uk, Nurse-Recruiter.com, and
Recruitireland.com.
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