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5 steps to ensure the salary you want

By   Renjith VP, SiliconIndia
Thursday, 23 December 2010, 06:00 IST  

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Bangalore: The world is never an easy place when it comes to competition. And many are
supposed to experience a chill in the spine when I specify competition in today's tight job
market. Being in today's job market, experiencing the 'rolling stone' feeling, it might have
taken away some job seekers' leverage in a salary negotiation.

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But even if you lack that 'positive advantage' in you, that doesn't mean you should fall
head over heels and accept the first offer that comes your way. This is a country where
we can find some strange pay patterns and as the time goes, the same jobs may find stark
differences in salary as the place and firm differs. In such an ambience, to get the best
compensation possible without making your potential employer raise an eye brow, you
can better keep in mind these 5 steps:

1. Do the essential research - To track down what your colleagues and other professionals
in your industry get paid used to be a hard task earlier. But various resources have
attempted to resolve this enigma and will probably help you in getting the essential data
you need to know. Web portals like Payscale.com and Salary.com give salary ranges to
align the job seeker's expectations based on his/her position, location, and experience.
You may also get the salaries posted by the employees at the actual company you're
applying to in web sites like glassdoor.com. You can also talk to experts in the field and
acquaintances to get an exact picture.

2. Don't be the first one to set the number - I am sure that many job seekers go through a
pressure situation when they face the inevitable question like "What's your salary
expectation?" "What salary range are you looking for?" "What do you get paid
currently?" etc. Whichever way you may trick yourself out of the question, never give out
a first idea about the salary or don't set the figures at the first place. You might not make
it to the next stage if you place a high digit. Too low, and an employer will either think
you're not qualified or desperate. So, if it's an application form better avoid the question
with the diplomatic answer 'not applicable'. If you're forced to say how much you make
during the interview process, try giving your "total compensation," which many large
employers will break out for you on the company's internal HR website. If you are still
pressured to specify an exact figure, try giving out a range, which if low should be the
least you can be happy with and which if high will make you really happy.

3. Display your career credits - The most resourceful and tactful way to justify asking for
a certain salary is by showing your achievements in the job career so far. Once you
elucidate that you can add lot of value to the firm, you can persuade the new employer to
give you the salary you specify. Your earlier career merits are the ones that will bear
testimony to the future results you will produce.

4. Don't be scared to negotiate - It is a powerful way to make the impression of how your
behavior as an employee will be when you negotiate on salary and benefits. Practice
discretion and research the baseline salary for your level, market, and geographic
location. Job seekers are estimated to negotiate by most of the employers. So you can
shrug off on the first offer for a further negotiation instead of accepting it right away.

5. Negotiate beyond the salary requirements - Always try to negotiate the pay package at
a level higher than the norms so that if they negotiate further, then the low amount should
be the minimum you'd be happy with and the high amount should be what would make
you happy. Try to negotiate on other benefits and incentives if your new employer says
budget restrictions keep him from going as high as you'd like. The other items where you
can negotiate includes job description and scope of work, starting date, budget and
resources, relocation expenses, vacation time, education assistance expenses, professional
and gym memberships, company car reimbursement, stock options, bonus.

     
   
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