Money is the most sensitive issue in the whole hiring process. Discussing the compensation often causes anxiety on both employee and employer. Here are seven ways to make the process of salary negotiating efficient.
1) Research: Before the interview process begins, contact the professional organization that represents your field of career. As soon as they provide you with your salary information, you can now examine your monthly cash requirements. Remember that once your taxes are added to your paycheck, approximately 30% of your gross monthly salary is deducted.
2) Determine your skills: You should understand that different segments of the economy require a variety of skills depending on the industry setting. Once you have established what your skills are and what they are worth to the current employment market, you would know the limitations of your negotiation.
Salary range information is available at American Almanac of Jobs and Salaries, National Association of College and Employers, Career Center, and professionals in your related field.
In stating your salary range, avoid basing your desired salary on your current salary. Always tell the truth when it comes to your past salary. It is acceptable to extend a range to approximately $6,000 to show that you are within the company’s price range but interested in more compensation.
3) Weigh the company’s compensation package: To determine your fair market value for a specific job, you should consider the economic, geographic, and industry factors of the job offer. Weigh the benefits of compensation and promotions, insurance, allowed time off and retirement settlements of the offer to ensure a fair proposed salary.
4) Sell yourself: If you know what you could offer the company requires a larger income, never say it directly. Once you sell yourself discreetly, the interviewer would understand that the proposed salary is not appropriate for your background.
5) Have a positive attitude: In negotiating, never compete. Negotiation is basically a process which could benefit both parties. Understand your needs and those of the company.
6) The final offer: Be aware when the negotiation is done. Pushing further when a deal has been set could give a negative first impression on your part.
7) Show what you are made of: The interview is only the first step in having an enhanced compensation. Once you are hired, offer your skills to the company and prove your worth by doing quality work. You may even get a promotion for doing so.
Based from a survey conducted by the Society for Human Resource Management, four out of five employees are willing to negotiate compensation. Understanding these basic tips will allow you to enhance the terms of your new job.
When one goes for an interview, the potential employer has no idea of who the applicant is. In some cases, the person applied to the ad while others used a headhunter or job site on the internet and matched their credentials for the position.
The first impression employers always look at is one’s resume. Given the many that apply, this usually takes about 30 seconds and so with the limited words, one must be sure that the resume is well written and grammatically correct.
The resume must say almost everything about the person. This should always start with pertinent information such as the person’s name, age, address, contact number and social security number. The details here are needed so if one is considered to be a potential employer, it will be easy for the company to get in touch with the applicant and be scheduled for an interview.
Next is the career objective which is the reason why the applicant wants to apply for the position. By putting a strong goal in mind and not a general one, the employer will see that this person has a direction which is why that person wants to work for the company.
The next section should include the relevant skills and knowledge one has had in the current and previous jobs as well as highlighting one’s major accomplishments. By putting in detail the things one has done in that position and experiences learned from it, that information is already basis for the employer to see the potential the applicant has for that position. It shows the qualities one possesses and the benefits one can contribute to the further growth of the company.
After that, the resume should show one’s educational background. Some companies prefer someone with a degree in a certain field, a licensed professional to do the job or one who possesses a master’s degree. By showing one’s credentials, it is a good indicator of the type of training one has possessed in school and the accomplishments one has achieved in the course of one’s career.
The latter section should provide details such as hobbies, interests and character references. Employers look at potential applicants who not only have the qualifications for the job but also those who also those who are well rounded. Being active in a certain organization and be seen as a leader in a group shows one’s social skills with others. Character references do the same and give people an idea how one performed working with that person.
There is no ideal resume. It depends on the job. It is an important step one must pass before being called for that first interview.
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