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August 2012
Negotiating Fair Compensation... Even in This Economy!
by Susan Reynolds

So let's start with a positive perspective: you WILL find an appropriate career opportunity (IF you're using good job search strategy!) You WILL have a chance to assure that you're being fairly compensated in anticipation of doing a great job (IF you're using good job search strategy!)

There, with those positive but contingent perspectives, just exactly how shall you make this happen? First, you'll note the contingency: IF you're using good job search strategy! Those of you who have been reading these articles for a period of time will notice the emphatic theme. If you want a positive career opportunity, you've got to work strategically to cause that to happen. Hoping for blind luck in just bopping around the Internet job boards seems tempting, but has an extremely low likelihood of success. Pressing the "send key" is NOT good job search strategy!

So your hard work has led to an opportunity. Here are a couple reliable hints to make sure you receive a strong financial offer in spite of the struggling economy. For one thing, remember that employers most always want to make the best hiring choices. Good managers know that it costs a lot to recruit, on-board, and properly train a new contributor to their company. GOOD hiring managers don't necessarily want the cheapest worker, they want the best worker: one who will stay with their organization long term with high value. While it might seem that the current market lets employers get help "cheap", most employers are in fact quite concerned that they hire the best qualified person at a fair price.

So start, if AT ALL possible, by not sharing your most recent compensation with your prospective employer. Yes, they might ask; they'll probably ask... but keep private information private. Instead, know the range of appropriate average compensation for the position for which you are a candidate. So rather than being judged by your prior compensation, and possibly being either eliminated or offered sub-standard wages, be offered the fair market price!

Secondly, be ready to react professionally to an offer that doesn't meet your expectations. I recently helped a gentleman to negotiate thousands of additional dollars AND a strong benefits package by giving him the foundation from which to "push back". While it all seems quite risky, the actual hiring decision-maker was quite willing to provide more generous compensation than originally offered. It just took some professional and respectful discussion!

Susan Reynolds is a senior partner at NewMarket Careers in Santa Clarita, a job search, career strategy, and resume-writing firm geared toward managerial, executive, and senior level professional careers. She can be reached at sreynolds@newmarketcareers.com or 661-755-3308.

Other Job and Career Success Related Articles:
People Are Still Getting Jobs... Are You?

Save the Interview, Save the Job!

You're Overqualified, So Unemployed!

What, No Interviews?

 


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