Prior to salary negotiating, it is very important to know exactly what your market value is. If you do not know exactly what your market value is, then it is like being blindfolded and not knowing what salary to ask when you ask for a raise or try to negotiate the best salary in your next job.
Without doing your legwork, your employer will probably suggest an increase that you find disappointing. While people around the world negotiate salary every day, not many of them are able to get the most out of salary negotiation!
Research ahead of time is critical before approaching your boss for a raise, or before putting your foot forward in salary negotiations at job offer time. It is like a card game. Do not reveal your cards too soon. In this case, your cards are personal secrets like how much you made in your last job, or how much money you'd like in the new job, or how much of an increase you'd like.
Before going into a salary negotiation, know what you are worth in compensation terms!
Whether you are looking for new employment or you are asking for a pay raise, do your research first. There are great Internet resources available, like SalaryExpert.com or Monster.com. These sites have continual access to all the salary information that is available.
Make sure you scrutinize the quality of information from each site, so you feel you have reliable information. If a web site reports salary scales based on information provided by subscribers it may not be as accurate as if the salary data is reported by the hiring department of the companies in that field.
Another option, if you are not afraid to ask, is to do a bit of snooping. If you know someone who works for the firm, and are not afraid to ask, is to find out what other people are making in the same role for that company.
Better yet, if you can ask a valued human resources friend, you may find out not only about the company you work for, but you may also find out about other companies in your market. Whatever information you can find out, will be useful, as long as the source is someone you can believe.
There are many firms that do research into the human resources data for a particular job market. These firms publish very expensive reports that are only disclosed to inside subscribers. If you are able to gain access to one of these reports in a lawful way, then you may just find you have a wealth of information, that is even more valuble than asking a friend.
Next, salaries ranges are often reported based on percentages. A business systems analyst salary range may be from $50,000-$90,000 for a given region, but the reporting will be based on 0-25%, 25-50%, 50-75% and 75-100%.
In order to determine where you lie in the salary range, you need to figure out your percentile. This is the measure to which you believe in yourself and your abilities, combined with your tenure, experience and proven status on the job. If you feel you are honestly a high performance employee, give yourself a higher rating. If you know you have less experience or you are new to a job, then rate a little lower. Be honest in your self assessment.
If you don't genuinely know, you might ask for some honest feedback from a trusted co-worker, or from a friend in a similar position elsewhere.
You must be able to express the value you bring to the business in terms that employers really like to hear. If you are able to describe your value in quantifiable terms, then you will have a lot stronger arguement. Think about cost savings, profits you've been responsible for and efficiency you may have brought to the business. This is the greatest way to communicate your worth when negotiating salary.
Wishing you success in learning how to negotiate a salary like a pro! - 15634
Without doing your legwork, your employer will probably suggest an increase that you find disappointing. While people around the world negotiate salary every day, not many of them are able to get the most out of salary negotiation!
Research ahead of time is critical before approaching your boss for a raise, or before putting your foot forward in salary negotiations at job offer time. It is like a card game. Do not reveal your cards too soon. In this case, your cards are personal secrets like how much you made in your last job, or how much money you'd like in the new job, or how much of an increase you'd like.
Before going into a salary negotiation, know what you are worth in compensation terms!
Whether you are looking for new employment or you are asking for a pay raise, do your research first. There are great Internet resources available, like SalaryExpert.com or Monster.com. These sites have continual access to all the salary information that is available.
Make sure you scrutinize the quality of information from each site, so you feel you have reliable information. If a web site reports salary scales based on information provided by subscribers it may not be as accurate as if the salary data is reported by the hiring department of the companies in that field.
Another option, if you are not afraid to ask, is to do a bit of snooping. If you know someone who works for the firm, and are not afraid to ask, is to find out what other people are making in the same role for that company.
Better yet, if you can ask a valued human resources friend, you may find out not only about the company you work for, but you may also find out about other companies in your market. Whatever information you can find out, will be useful, as long as the source is someone you can believe.
There are many firms that do research into the human resources data for a particular job market. These firms publish very expensive reports that are only disclosed to inside subscribers. If you are able to gain access to one of these reports in a lawful way, then you may just find you have a wealth of information, that is even more valuble than asking a friend.
Next, salaries ranges are often reported based on percentages. A business systems analyst salary range may be from $50,000-$90,000 for a given region, but the reporting will be based on 0-25%, 25-50%, 50-75% and 75-100%.
In order to determine where you lie in the salary range, you need to figure out your percentile. This is the measure to which you believe in yourself and your abilities, combined with your tenure, experience and proven status on the job. If you feel you are honestly a high performance employee, give yourself a higher rating. If you know you have less experience or you are new to a job, then rate a little lower. Be honest in your self assessment.
If you don't genuinely know, you might ask for some honest feedback from a trusted co-worker, or from a friend in a similar position elsewhere.
You must be able to express the value you bring to the business in terms that employers really like to hear. If you are able to describe your value in quantifiable terms, then you will have a lot stronger arguement. Think about cost savings, profits you've been responsible for and efficiency you may have brought to the business. This is the greatest way to communicate your worth when negotiating salary.
Wishing you success in learning how to negotiate a salary like a pro! - 15634
About the Author:
Trevor Davide Grant is a project manager in the IT field and has extensive experience in salary negotiation. Trevor has worked for large telecom, electric utilities, software consulting, and a prevalent social network. He has learned salary negotiating in the most powerfulway. Learn great tacticson the topic of salary negotiating at www.HowToNegotiateASalary.com.
