HOW TO HANDLE THE MONEY ISSUE
The question of compensation can be very sensitive and often requires extended negotiations to reach a figure that is fair and acceptable to both the company and the individual. Some points to remember:
· Most companies want to make a fair offer. They want to bring new employees on board at a salary level that provides incentive to change jobs that also is consistent with the company’s existing salary structure for that position.
· The days of 18% and 20% increases in compensation are gone. Inflation rates are down, all corporations are more conscious of maintaining consistency in existing salary structures, the economic growth in many industries has leveled off and the competition for better positions has increased. So be realistic in your expectation.
· The position and opportunity is the single most important element of your decision. No amount of money will make a bad job good. A quality position, working with quality people in a dynamic work environment offers rewards that money can’t buy.
· Be flexible. Compensation packages are a combination of salary, reviews, titles and perks. These elements can be arranged and rearranged — sometimes very creatively — to satisfy both the individual and the company.
· Keep your recruiter involved. Part of our job is to handle sensitive negotiations and move both parties to a fair and acceptable compensation package. We do this for a living and can often offer alternatives that will satisfy both parties. (We’re also a good buffer and can keep sensitive negotiations on a cool, professional level.)
· If you are asked what salary you are looking for, try to avoid quoting a specific figure. Try something like this: “I’m very interested in working with you, and I feel I can make a meaningful contribution. I’m currently earning $______ per year and would hope that you would make me your very best offer.” It is best not to name a figure if at all possible.
The question of compensation can be very sensitive and often requires extended negotiations to reach a figure that is fair and acceptable to both the company and the individual. Some points to remember:
· Most companies want to make a fair offer. They want to bring new employees on board at a salary level that provides incentive to change jobs that also is consistent with the company’s existing salary structure for that position.
· The days of 18% and 20% increases in compensation are gone. Inflation rates are down, all corporations are more conscious of maintaining consistency in existing salary structures, the economic growth in many industries has leveled off and the competition for better positions has increased. So be realistic in your expectation.
· The position and opportunity is the single most important element of your decision. No amount of money will make a bad job good. A quality position, working with quality people in a dynamic work environment offers rewards that money can’t buy.
· Be flexible. Compensation packages are a combination of salary, reviews, titles and perks. These elements can be arranged and rearranged — sometimes very creatively — to satisfy both the individual and the company.
· Keep your recruiter involved. Part of our job is to handle sensitive negotiations and move both parties to a fair and acceptable compensation package. We do this for a living and can often offer alternatives that will satisfy both parties. (We’re also a good buffer and can keep sensitive negotiations on a cool, professional level.)
· If you are asked what salary you are looking for, try to avoid quoting a specific figure. Try something like this: “I’m very interested in working with you, and I feel I can make a meaningful contribution. I’m currently earning $______ per year and would hope that you would make me your very best offer.” It is best not to name a figure if at all possible.
One other avenue to take is to ask them what the salary range for the position is. If at all possible you want to remain at or below the half way point. This will allow a company to give consistant raises and it will minimize you getting paid more than a present employee with more seniority.
If you are asked again later in the process, you want to restate what you are earning and ask what the position will pay.
If you are asked again later in the process, you want to restate what you are earning and ask what the position will pay.
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