“You are worth different amounts in different markets…What’s more, you may be worth more to one company than you would be to another.” Kate Pendleton, President of Five O’Clock Club.
Beginning with a new executive job starts with the initial agreements and with that comes the first steps toward agreeing on the salary you desire and deserve. You need to learn about how much you are worth and how much the job demands of your very valuable time. Once you have figured this out you are able to get the money that you need. Start the interview by bringing up compensation. Of course the first question that the interviewer will ask includes the standard “how much do you think you are worth?” or “how much are you looking for?” These figures have to be realistic, because you know that the interviewer knows how much the current salaries are going for various levels of employment, it is their job. Always make sure to tell the employer that you want to know more about the responsibilities and the challenges of the job.
You can do all of your searching online to gauge your worth. Also you can base it from prior experience, but it may still not be enough to cover the current amount of work that you are required to do. Or you could give the employer a salary range from the research that you have done. If you have had an offer do not accept it right away, but do not reject it either. Simply let them know that you are thinking it over, and take your time to do so. Say “I have to think this over” or “can I get back with you?” This leaves you some leeway to go the next step and conduct a little more research. If you are simply ambivalent about the offer you can just throw out the standard statement of unacceptability “no.”
You know that in the first place before the job even begins you should discuss salary requirements that they will ask you to include your salary history on the resume. If you ignore this little tidbit, you will find yourself without an interview or possibly at the mercy of the interviewer during salary negotiations. The salary range will also keep you from making mistakes during negotiations. You could say something like “ I am currently earning in the mid-eighties.” If you are more comfortable being vague during the interview or on the interview innovation.
Also before you can even begin to think about what you need, you have to evaluate what you are worth. It will also have to take some time for you to accurately create a research paper regarding the amount of money you should be making. Review salary survey information. The best place to look is the Bureau of Labor Statistics. They have an occupational outlook handbook, and this is the best source to base it off of your past salaries. For instance, if you make 55,000 in Kansas City, Mo it is going to you will have to earn double that in New York City to live the same lifestyle that you had in Kansas City. It is almost important to know what you need in order to pay your bills. So in the interview will have to make sure to match the salary with the cost of living in the area. You want to be able to pay your bills and your employer will be comfortable with the amount you need.
Tips on Salary Negations
*Do your own market research
*Understand the cost of living in the place that you will be working
*Research online using the Bureau of Labor Statistics to create a perfect plan.
*Know that you have to be comfortable with the salary, not only for the cost of living but the workload that you will be offered.
According to USNews, it is normal to feel a little uncomfortable when it comes to discussing your salary. It’s a normal feeling in fact and many potential executive job prospects feel this way. It is important to always end the potential interview on a great note and with a polite ‘thank you.’
Once you have started and have great reviews, be mindful of policies. Always keep on top of the current market, show your employer that you understand and value the worth and wealth of experience that you bring to the table. Knowing what you want is half the game the rest is elbow grease and hard work. In some cases you will have to create some talking points to address a raise or to use in your initial salary negotiations with your employer.