Interview : Salery Negotiations
General Interview Tips And Tricks
Salary negotiation is more of an art than a science. It usually is one of the most neglected and under-rated aspects of a Job search. I have heard quite a few people say, "I just want to get my foot in the door, and I don't care about how much they pay me to start with. Once I am in, I can get good raise etc." In my opinion, don't ever make that mistake. It just doesn't work that way. Do not accept a position at a salary lower than you know you are worth with the hopes of big raises in the future. The article below by Lee Miller is the best article I have found on this subject. He has also written a book, "Get More Money on Your Next Job", which is very interesting and an informative read.
Principles for Negotiating: The Ten Commandments of Employment Negotiations
Taking into consideration those things that make employment negotiations unique, together with generally applicable negotiating principles, I have developed a set of basic principles which I refer to as The Ten Commandments of Employment Negotiations. These principles, along with what I refer to as the Eleventh Commandment, apply in every employment negotiation.
Commandment 1: Be Prepared
Preparation is critical when negotiating the terms of your employment. The more information you have, the more successful you will be. This is so important that I have devoted a full chapter in my book to preparing for employment negotiations. This is the first commandment because it is the most important single thing you can do to ensure that you get the best deal possible.
Commandment 2: Recognize That Employment Negotiations Are Unique
Employment negotiations are different from other types of negotiations. They are not a one-shot deal like buying a house or a car. When the employment negotiations are over, you will have to work with your former "adversary" on a daily basis; more important, your career success may depend on the person with whom you have just finished negotiating. Therefore, even though you want to negotiate the best possible deal, you need to proceed in a way that doesn't tarnish your image.
By the same token, your future boss will want you to feel good about joining the company. Once an employer has decided that you are the person for the job, the primary concern will not be to negotiate the least expensive compensation package the company can get away with. Rather, the main focus will be on getting you to accept the job. As a result, employment negotiations are unusual in that both sides share that same basic goal.
Commandment 3: Understand Your Needs and Those of Your Prospective Employe
r Any employment negotiation is going to involve trade-offs. To be successful in this type of negotiation, you need to examine your own priorities. What is it that you want? Are comfortable with a low salary and a large equity stake? Do you feel confident that you can meet the requisite criteria to earn a bonus? Are you able to handle dramatic swings in income from year to year? How important is job security to you?
Understanding your needs will also help you determine what type of company you want to work for. (For example, a family-owned company might offer a larger salary than start-up company, but the same start-up company will offer stock or stock options that a family-owned company typically will not.) Regardless of the type of company you are considering, an employer may not be able to give you exactly what you want. There are numerous institutional constraints on how much a company can pay for a given position or what kinds of benefits it can offer.
Understanding what you want and what a company can do within its own organizational and budgetary constraints will enable you to determine what trade-offs are possible in order to maximize what you get. This knowledge will also enable you to walk away from a job when a company cannot offer the type of compensation package...
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