Negotiating Salary

Research on negotiating salary has shown that as many as 4 out of 5 companies are willing to negotiate compensation. However only a small percentage of job candidates actually enter into negotiations with a prospective employer.

negotiating salary

Salary negotiations are considered intimidating but you don't have to be an expert negotiator to successfully negotiate a job offer. Simply knowing the basic rules and strategies of negotiation means you can prepare for and plan your negotiation properly and feel comfortable with the negotiation process.


Negotiating your salary is composed of two major stages. The first is the preparation and planning stage and the second is the actual negotiation where communication and information sharing takes place.

The preparation and planning stage involves research, gathering information and planning your actual negotiation strategy.

You need to take the following steps to research and plan your negotiations:

  • Determine your competitive market-value. Knowing what you are worth in the marketplace is essential to effective salary negotiation. Use these guidelines to find out the relevant market value of your skills.


  • Determine your company-value. Understand what you are worth to this specific company and know how much bargaining power you really have.


  • Calculate your acceptable salary range. You want to earn enough to support your lifestyle. Use this expenses calculator to know how much money you need to live on and how much money you would like to live on. These amounts give you your acceptable salary range.


  • Evaluate the entire compensation package including benefits. Compute the dollar worth of these benefits and add this figure to the base salary for a more accurate compensation amount.

Once you have all this information you are able to plan your negotiation strategy. Consider different alternatives and decide on how you will communicate your proposal effectively to the prospective employer.

During the negotiation use tried and tested salary negotiation tips that make the negotiation process easier and more effective.

Negotiating salary using the right negotiation resources will help you get the best job offer you can.


Source info: best-job.com 

 
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