Salary Information
You’ve managed to receive a meeting towards the exciting new job … the interview has gone well, and you’ve established a great rapport with all the hiring managers … only a few more minutes to go … Uh oh! They just inquired about salary expectations!
That’s where you will certainly be glad that you just did that research beforehand. If you didn’t, and aren’t sure where to start, follow this advice.
Analyzing Salaries
Generally if the salary is not really stated in the job description, you must figure out what the job is definitely worth. Sometimes you can be asked to provide your expectations as part of your resume cover letter, in other cases it’ll come up in an interview. But the key is to be prepared for this question, as it usually pops up.
There is no one magic figure when trying to determine salary for any particular position. It depends on size of the city, market conditions, the company, geographical locaion alongside your own skills and experience as compared with other applicants. So how should you uncover what a job is really worth? Try to employ a combination of approaches to get as best a range as is possible. These can sometimes include:
discover similar advertised jobs which does state an income range
research salaries around the internet, using career websites, skilled professional association web pages and search engines (we’ve provided some beginning points by the end of this article) – is there a interest in your skills?
search for a local Human Resource Centre of Canada office
speak to people in similar jobs
Where to start whenever you are asked to present salary expectations as part of your cover letter?
Many companies ask applicants to provide salary expectations inside their cover letter. This is frequently performed to screen out job seekers who expect a greater salary as opposed to the employer is willing to offer. Try to answer by using a neutral statement, emphasizing that the opportunity is the most essential consideration in your own decision and you would look into any reasonable offer. When necessary, provide a reasonable range of what you will be prepared to accept rather than a set dollar amount.
Salary discussions during the interview
Never raise up salary during interviews. Always let the employer bring it up. The same guidelines apply as above for cover letters. That is, try and postpone wage discussions until after an offer is made. Indicate you are open for negotiation but would prefer to wait until after the hiring decision has been made. Again, should you feel that possibly they are really pushing for a figure, try and offer a range, not just a specific dollar amount and make sure they know it depends on the entire package together with benefits.
Don’t worry if salary is not discussed during the first interview. It likely will come in the 2nd or at the latest, once you get a proposal! Actually, salary is often best left for discussion until once the employer has decided that they would like to hire you. By carrying this out, you minimize the risk of taking yourself out from the running.
When a deal is created – Negotiating Salary
Employers can occasionally offer you a salary amount when an offer is created. Take some time to think over it; a couple of days is generally acceptable. Seeing that they’ve decided they want to hire you, you may be in a position to negotiate a little. But you need to decide what you will be prepared to accept, taking into consideration the likelihood of receiving other offers, etc. Take all factors into account when making your choice, along with the salary, level of responsibility, working conditions, opportunities for further education,, etc. Ask about extended health and dental insurance, education re-imbursement plans, vacation, etc.
Consider negotiating in some perks instead if the organization carries a rigid salary structure. Depending in the level of the job and current economic conditions, consider asking about a signing bonus, company car, paid professional development, usage of your working computer for personal use and/or stock options. A flexible time-table and working from home occasionally can also be possible. Note: in the event the economy is within a downturn, several of these perks won’t be available (eg. signing bonuses) so make use of your judgement and common sense when deciding just how much room you must negotiate.
Everybody is apprehensive (in other words, scared!) about negotiating for benefits and salaries. You shouldn’t be… it is quite common. But do be sure you remain professional about it! No matter what, don’t be rude or arrogant. Think carefully in what makes you worth a better salary compared to the one they have offered, and be prepared to articulate this to the employer. It’s during this time that you’ll be glad you did your thorough research.
When selecting a salary guide one must understand you need to research first. Check out here If you need to continue researching. Happy career searching!
February 1, 2012 | Posted by Steven Atkil
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