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Article Title: Salary Negotiation In A Tight Job Market; Five Compensation Tips That Really Work
Author: Herman Collins
Category: Career
Word Count: 987
Keywords: job,jobs,job search,job hunting tips,job search tips,job interview questions,employment,job hunting
Author’s Email Address: realjobtips@gmail.com
Article Source: http://www.articlemarketer.com
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During times of higher unemployment it is often a buyers market for employers. There are more people looking and fewer openings to choose from. Employers know this and use it to their advantage in negotiations.
When a manager asks you to accept a low offer that manager is often perceived as being a good business person. However, when you ask for your value you are sometimes portrayed as being mercenary.
Do not be discouraged. My experience as an executive recruiter has taught me that all job offers are negotiable. I am happy to pass along some of the negotiation basics.
Number One is your mental preparation. Unless you have made up in your mind what you are worth and what you bring to the table, you will never get the best compensation. Know what your value is and what you will accept.
Often the hardest thing to do is to be mentally ready to completely reject the offer if you can not negotiate fair compensation. If the offer is not fair, you must be willing to politely walk away or even have the offer snatched away from you.
Why is this important? It is important because by accepting a job for less, you will feel under compensated and become increasingly frustrated over time. This may be temporarily acceptable, but you will most likely be looking for another job again sooner rather than later.
Being mentally prepared to negotiate correctly is also necessary for another reason. The more a company pays you the more they will respect you, at least in the beginning. It is logical that the greater your compensation the greater your perceived value.
Number Two is to study the employer. Candidates need to find out as much as possible about the employer before going into the first interview. Search the web, job boards, trade publications and employer web sites to gather information.
You want to know several things about the job. How long has the position been open? Is it a replacement or an expansion hire? Are there multiple openings with similar requirements? Do they have similar openings in multiple cities?
If the position has been open a long time you have greater leverage. Timing is important. If there are multiple positions in multiple cities you have greater leverage. If they do not have to pay to relocate you, it may be possible to negotiate for a portion of that savings.
Also try to learn about the financial situation of the company. Are their sales and profits up or down? Have there been recent layoffs? An employer in trouble should pay more to attract you as your risk is greater.
Do not neglect to search the web, including social networking sites, for public information on the hiring manager. Was this manager promoted into their current position or recently hired? Are you alumni of the same school or have similar interests?
Number Three is to research comparable salaries. You really need to know the market value of your skills and experience. There are many websites which offer salary comparisons for various jobs in different industries and geographic regions.
Company size also effects compensation, but not a much as you might think. Bigger companies have more resources, but sometimes smaller companies can be equally or more aggressive.
And do not forget to take location into account. If you can relocate to an area with a much lower cost of living and make the same money it is an instant increase right there. But I would not recommend you relocate for no other reason than more money.
If you decide to relocate to an area with a higher cost of living you have to negotiate wisely. In this case it is important to make sure you get compensated for the higher costs plus an increased incentive.
Be sure to ask your accountant about potential tax implications of moving to another state with a different income tax structure. Also make sure to look for other companies in that state trying to fill the same jobs.
Number Four is not jumping at the first offer. When the hiring manager or recruiter calls with the initial offer do not accept right away over the phone. Also try not to negotiate at this point. Be enthusiastic and at the same time let them know that you simply need time to look over the offer in writing.
You should delay to buy time to think and to gauge their level of urgency. Once you receive the written offer take a day or two to consider the terms. It often helps to discuss your thoughts with someone close to you in your same field.
When you are ready you can then discuss your terms with confidence. At this point you savvy candidate. You have done your homework and you know what you are worth based upon actual data. Discuss your desires for adjustments in the offer in a positive and upbeat way.
Be wary of employers promises of future consideration. That promised raise in 6 months might be a fraction of what you would expect. And that is if you even get that raise at all. Try to get the best offer now or you may lose your leverage.
Number Five is asking for other compensation options. An employer may not have a lot of salary room, but may have greater flexibility in other areas. Sign on bonuses, additional paid vacations and telecommuting a day or two a week are examples. There are many options which may be discussed.
Lastly, when working with a recruiter do keep in mind that they work for the employer not for you. You have to explain to them what you want and ask for their help to make it happen.
Good recruiters understand that you are not trying to be greedy. They appreciate that you are just trying to get a good deal for yourself and your family. They will respect you for what you are doing and try to help.
Herman Collins is an acclaimed executive recruiter and known around the globe as The Job Search Specialist. His proven job hunting strategies have helped 1,000’s. Discover how to put his free powerful job tips to use today! Just go to: http://www.realjobtips.com
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