Getting the Pay You Deserve
June 16, 2009 – 4:59 amWelcome back!
Here’s a bit of good news: Wages for virtually all workers are on the upswing. So don’t sell yourself short. Before you go into the job interview, however, you should have a pretty good idea of what the job will pay and what the competition is paying. Want ads in trade journals and local newspapers will help you establish this figure. Better still, a contact at the firm or a competitor could clue you in.
Try to get the company to make you an offer before you reveal your most recent salary. If you’re asked first, however, take a few minutes to spout all the responsibilities the job entails. Really build it up. Then, put on a poker face and cite a figure that’s in the high end of your range. You may wind up negotiating from there.
If the interviewer hits you a pay offer that is downright chintzy, you have a few options:
- Hedge. Explain to your prospective boss that while the job sure feels like the right fit, you’re still weighing a few other opportunities (even if you aren’t).
- Try to get the money in a more circuitous way. Ask if part of the money you’re requesting could come from a bonus pool. Or see if you can get the firm to commit to giving you a raise of a specified amount of money in six months if you meet certain goals laid out in advance.
- If you’re in the upper rungs of management or know that you’d be quite a catch, ask for a signing bonus. Even if the firm can’t offer you a fat salary for starters, it might be able to sweeten the pot with a signing bonus -cash paid simply for your walking in the door. If so, you may want to negotiate further, say, taking a $5,000 signing bonus and tacking on another $5,000 to your salary vs. accepting a $10,000 up-front bonus. This way your annual pay increases are assured to be larger.
- Walk away. Granted, this strategy takes guts, especially if you’ve been offered an alluring job. One possible advantage here: By sticking to your guns, you’ll be giving the employer a taste of your convictions. That may cause the firm to pony up the money you want after all.
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One Response to “Getting the Pay You Deserve”
Hi,
The walking away part does take guts. But I know from personal experience (as a hirer) that the guy who walks away immediately scores at least a million more charisma points than the guy who looks crestfallen and worried.
Good work.
By Sahail Ashraf on Jun 18, 2009