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Monster in the closet?
Cover Letter Questions
When to Negotiate
At Long Last
Brother, Can You Spare a Dime?
No Sitting on the Fence
Images of Dollar Signs: Closing the Deal
Aye
Nay
Monster in the
Closet?
The thought of salary negotiation may frighten many a courageous
heart, but whether you're arbitrating first-time employment
or bargaining for an inside promotion, some basic knowledge
will alleviate anxiety and make you a savvy negotiator.
Items to research before you begin negotiating are salary
surveys, the market demand for your position, the organization's
corporate culture, its stability and performance, and how
your experience and skills are aligned with the organization's
demands. It is helpful to prepare a list of "discussion
points" (items to clarify during the negotiation process),
such as the startup environment, your responsibilities,
to whom you will report and/or supervise, your starting
date, and your compensation and benefits (including signing
bonuses and incentives.)
Cover Letter Questions
If a salary history is requested with the resume, you have
no choice but to oblige; however, do not disclose your salary
history if not requested. If the employer requires a "salary
range" in the cover letter, do so in the last paragraph,
and give yourself a window of $10,000 in which to negotiate.
For example, if your lowest acceptable amount is $33,000,
compose your final paragraph in the following manner: "My
salary requirements fall between $33,000 and $43,000 However,
I am most interested in incorporating my skills with the
needs of your organization. If my salary requirement is
out of your range, I’d be willing to discuss it with you."
Negotiations may include many forms of compensation, e.g.,
a dental health plan, a sabbatical, or the option of working
out of your home on certain days.
When to Negotiate
The best advice is to avoid talking about salary until there's
an offer on the table. Your negotiation process may cover
several meetings, but the negotiator may hit you with the
salary question in the beginning: "What are your salary
requirements?" If this happens, the following scenarios
offer three appropriate responses; however, you'll need
to tailor your response to fit your particular situation:
- You have an acceptable range of compensation set in
your mind; yet, at the same time, you feel that discussing
your skills and the unique challenges of the organization
may strengthen your position. Furthermore, you don't
want to undercut yourself by stating too low a figure.
Tell the negotiator, "Salary is an important matter;
however, my objective is to explore ways in which I
can optimize my experience and skills and align my strengths
with an organization's needs. When I find the right
fit, I feel that salary will be an uncomplicated issue.
Can you give me the salary range established for this
position?" If the employer's range is acceptable, compose
yourself, remain silent for a few seconds, then say
that the salary is within your range, and that you'd
like to discuss the position's responsibilities and
the company's challenges. This will give you the opportunity
to establish your skills and accomplishments, thus,
substantiating your value to the organization in further
discussions. If the employer's range is unacceptable,
do not reject it immediately. Instead, say that the
offer is somewhat modest, and you'd like to meet and
discuss the matter tomorrow, if possible. This will
prompt the negotiator to either explain the offer, or
end the negotiation process. If you must, thank the
negotiator for her/his time, and end the negotiation
diplomatically.
-
The organization has created a new
position--one whose responsibilities and demands are
not entirely clear. Furthermore, you suspect that the
demands of the position may not become well-defined
until the job begins. The interviewer hits you with
the salary question. You say, "I can appreciate the
need to discuss specific salary ranges, but it may be
more effective to talk about the value that the company
places on this new position. I'm certain that you have
salary ranges for different levels within the organization
that are equitable, based on experience, responsibility,
and performance. I'd be happy to work within these ranges,
but I'd like to talk about your needs in detail before
making a salary proposal. Then I'd feel more comfortable
in proposing a salary range, and I believe that would
help us arrive at an appropriate figure." This response
places you in a position to closely examine the present
and future demands of the new position and, if appropriate,
secure a six month renegotiation clause in your agreement.
-
You are negotiating for a position
you are experienced in, but with an organization that
operates in an different manner. The negotiator asks
you for a salary history: You say, "I'm hesitant to
discuss salary because the responsibilities of this
position appear different than those required by my
previous job. We may be comparing different job requirements.
Let's place the salary issue on hold until we're both
more comfortable in making an offer." This gives you
and the negotiator the opportunity to establish an equitable
salary range for your skills in conjunction with the
new position.
At Long Last
Patience and a careful choice of words will set the stage
for a calm, business-like conversation. Allow enough time
to establish a working relationship with the negotiator;
determine the length of time for discussion(s), and formulate
an agenda for follow-up discussions. Focus on ways to
enhance your needs with strength and conviction, and be
clear about your expectations. Maintain eye contact, show
respect, listen carefully, and don't interrupt the negotiator.
Hold judgment until you understand the whole offer, and
then repeat what you've heard and confirm your understanding.
Don't accept the offer immediately; it may not be the
only offer. Establish a common focus regarding areas of
flexibility, e.g., "Can we examine the gaps between the
structure of your offer and my professional goals, to
see where we might find some flexibility?" Make an attempt
to see the employer's perspective, and plan for barriers.
If the negotiator does not have the final authority to
grant a request, ask her/him to seek clarification for
the next session.
Brother,
Can You Spare a Dime?
Consider dismissing your needs and concerns temporarily,
in order to appreciate the goals and needs of the employer.
The more effectively you are able to relate to the motivations,
pressures, and priorities of the employer, the easier
it will be to tailor your issues to her/his frame of reference.
Beware of questions framed in a manner that ask how much
you need to live on. If you detect an employer seeking
inexpensive labor at your expense, bow out gracefully.
At the same time, never request the employer's sympathy
for personal needs.
No Sitting
on the Fence
You're well into negotiations, and you've clarified several
"discussion points" on your list. Maybe you dodged the
salary issue completely, or you know that the employer
is somewhere in your range. Perhaps you've haggled over
a company car, and the employer met you half-way in offering
gas mileage. Negotiations are winding down, and now is
the time that you must decide whether or not you want
the job, and the lowest acceptable amount of compensation
for which you will settle.
Images of
Dollar Signs: Closing the Deal
Accepting a reasonable offer immediately may be a mistake.
You don't want to appear impulsive or greedy, and it's
always wise to discuss the offer with others before making
a decision. Besides, you could enhance the offer in a
dignified manner, with tact and grace: "Thank you very
much for the offer. In a number of ways, this position
is exactly what I've been looking for and I'm very happy
that you're interested. This is a major decision, and
I'd like a little time to consider your offer. May I call
you in 48 hours?" This gives you time to think about the
job and discuss it with family members, business colleagues,
and confidants.
Aye
You've decided to accept the job but, after 48 hours,
you feel that the compensation is a little on the short
side. Regardless of whether you can sweeten the deal or
not, the offer fits your lowest acceptable amount. First
offers rarely encompass the final settlement, and many
employers respect a noble negotiator. Do not make unreasonable
demands, and before making your request, be certain that
the employer knows you are interested in accepting the
position. Call the negotiator, and explain: "I am eager
to accept the position and come to work for your organization;
however, I've closely examined the entire compensation
package and I'm wondering what kind of flexibility there
might be with this offer." In closing the deal, be willing
to compromise: if the employer is offering an annual salary
of $2,000 less than you want, try asking for $4,000 over
the amount offered. By overstating the employer's offer,
you may get a better deal. The employer may make a counter-offer
with compensation other than salary, which probably indicates
that the salary figure will not change. This process may
include stock options, vacation time, performance and/or
signing bonuses, flexible time, parking privileges, or
a geographical change. In the closing stages of your negotiations,
request a commitment to a six month salary review, based
on demonstrated performance. When you have an acceptable
deal on the table, confirm it in writing, including the
starting date and details of the agreement. If the employer
does not have an employment contract, you may confirm
your agreement in a thank-you letter.
Nay
If the negotiator makes an offer below your lowest acceptable
amount, do not reject it immediately. Remain silent and
composed. This will prompt the negotiator to either explain
the offer, or ask for your reaction. If she/he explains,
listen carefully; if she/he asks your opinion, say that
the offer is somewhat modest, and you'd like to meet and
discuss the matter tomorrow. If you must, bow out of the
negotiations diplomatically, and thank her/him for time
spent. She/he may become a valuable networking contact
for future consideration.
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