Here's a secret your future boss
doesn't want you to know:
The higher your starting salary,
the better off you will be in terms of earning potential,
perceived value, and status in the company. Raises are often
given based on percentage of what you're already making, and so
the more you make, the more you get.
But what will it take to get a
higher starting salary? Two things: Information and negotiation.
You must have the information on which to base your negotiation.
But
salary negotiation skills are critical as well and they're
hardly ever used effectively.
Here are the steps you must
take if you want the benefit of a high starting salary.
A: Gather Information:
1. Start by getting familiar
with the salary range in your industry. This is actually much
easier than you would expect. All it takes is going to
Salary.com or Payscale.com and typing your desired job into the
search box. You can also search for salary information directly
through search engines by typing in "salary" and then the
occupational title you're interested in, such as the following:
"electrical engineer"
"associate professor"
"registered nurses"
"patent lawyers"
Be sure to put parentheses
around occupational titles with more than one word. But don't
include the word "salary" within the same parentheses.
2. Assess your skills,
background, experience and performance against the ranges you
find and set an appropriate starting point for you within that
range
B: Negotiation:
1. Do an internet search on
"salary negotiation tips" for great tips on preparing for
effective Salary Negotiation. Doing this will give you a toolkit
full of ideas and approaches.
2. Get ready to negotiate
Essentially, negotiating a
salary is much like negotiating anything else related to money.
It's just a little more important than negotiating the price of
a car or even the price of a house. Be sure to think this
through in advance and be prepared.
3. Use this secret key to
maximizing your salary:
What is it? Appeal to the
employer's sense of fairness.
Start by assuming that the
employer wants to be fair. Even if that's not entirely true in
every case, most people like to believe it of themselves.
You can say something like,
"I'm sure you're a fair employer and value your people." This
sets the stage for a positive discussion about the salary range
for the job.
Together, you and the employer
can then compare the range with your qualifications and
experience. Let the employer talk it out while you listen to
their honest assessment of your background.
With your target salary in
mind, you can then come to an agreement about starting salary
and review dates. If you are not able to agree, then this may
not be the right employer for you.
The assumption of fairness as a
central theme in any negotiation tends to bring out the best in
people, simply because it appeals to the highest in them. There
is huge value in this approach in both your present and future
jobs.
You gave the employer the gift
of believing in their honor. That's a wonderful gift just in
itself. It not only awakens the best in them, but also sets the
tone for a positive and productive future relationship as
employer-employee.
