The following Part 3 of the August 26, 2014 Relevant Radio Q&A on New Job Salary Negotiation with Glen Lewerenz and Tracey. Tune in 6a PST 9a EST @relevantradio -
Dr. Wilen is on a corporate speaking tour on the topic of 21st Century Careers and can be reached traceywilen.com, @traceywilen or FB Dr.TraceyWilen
Today’s topic concludes : New Job Salary Negotiation
Can I create power for myself?
Yes you need to have an asset that a firm needs. Here are three examples. You would need proof of this and references.
Do you have?
· A key proven skill- web marketing, programming, data analysis, you tube genius (Technology)
· Key desired experience- start up, downsize, grow (Operations)
· Network- you know people and can expand business quickly (Sales)
Question: Can I create salary negotiating power for myself?
Yes. This is part of the preparation. Let say you have been in a firm for a long time and you are a specialist. You are interviewing with another firm, a competitor say for a similar or better job. Since you have been locked into a salary range for some time you may not actually know your worth. This is tricky as you don’t want to come in under or over. This is where I suggest that you use the salary data to help you assess your current salary and you’re asking salary.
For example maybe you are working in firm that makes up a salary difference with stock options but gives you a very low base but the new firm does not offer stock options so you will need to assess properly your worth. It is worth your while to know the going rate for the job and then build from that.
Question: If I were to ask for something what would it be?
Good question. Many firms have very fixed programs in terms of health benefits, commuting, vacation, and stock options. The signing bonus might be the most flexible ask that you have. Of ten that cash may not come out of HR but rather the business unit’s budget. A sign on bound is a cash amount that could help close the difference in the first year of what you hoped to get vs what the firm can offer.
Question: What happens next?
· Don’t notify your job or stop your job search until the deal is in writing and signed by both parties.
· Agree on a start date respecting the facts that you may need to give 2 weeks+ notice at your current job.
· Evaluate all vacation commitments that you may have and discuss these in advance so that is part of the sign on and does not put you into a vacation deficit.
· Announce your job via linked in after you start not before.
Question: How should I act during a salary discussion?
· Calm, professional and prepared
· Polite communication, Persistent
· Listen, patient, ask questions to understand and show interest and excitement.
Go to www.traceywilen.com to book a speech, view the latest Dr. Wilen books or connect with Dr. Wilen on her Social Media sites.
More information on this interview:
Host: Glen Lewerenz, “Morning Air” Relevant Radio @relevantradio