Glassdoor.com Blog » Salaries

Common Cents: Know The Value Of Your Work

Hank Stringer — Fri, 30 Oct 2009 16:14:24 +0000

The work we have or seek has a value, and though it appears logical for companies to know the specific value each job adds to the company, not all jobs are easy to align with business revenue. Traditionally we consider sales because the position is directly tied to revenue and is easy to measure – we know the value of the salesperson who brings in 150% of quota. But how do companies measure the value of a software tester, a customer service rep, or an HR Generalist?

In our current climate companies are striving to understand costs in order to insure profitability and sadly are making decisions to cut costs before truly understanding the value of a job. Therefore it may be of personal benefit to understand your job’s value for your current company. Or if you are in an interviewing process, understanding the value may be of help in securing the position. For example, consider: Does the position add to the success and profitability of the company? How and how much? It’s a good idea to know, and here are a few suggestions that can help determine the real value.

Learn the financial goals for the company. If you are with a public company the information is available. If you are working for a private company and your management has not shared, go to your management and ask. Letting it be known that you are interested in understanding how your position can help achieve the overall goals of the company is a good thing.

Study the business model assumptions: Every company makes assumptions about their business model and then work hard to prove them by exceeding or doing better. How many clients can one customer service rep handle? How many lines of code can the tester successfully review? Are their assumptions for your position or is the position seen as a cost with no return. Let’s think about that, the HR Generalist may be responsible for 401k administration, benefits and compliance – how in the world do we value? Your company should survey employees and measure retention. High marks and a high retention rate means productivity is consistent and recruiting costs are kept in check, therefore value is added to the bottom line by protecting investment and avoiding costs. Still, many times it is hard to put a number to the value.

So ask: Many times and for many reasons we are not willing to ask for help when in reality people are usually willing to help out. In this case corner the Controller, Accounting Manager or the CFO and let them know you have a question and that you need their help. When they ask why, tell them you want to understand the value your position brings to the company BECAUSE (important) you have some ideas and want to improve the value of your work to the bottom line…help the company out. You will be surprised at what you learn, how you are perceived and how your future ideas may be listened to a little more closely.

So interesting, we started out to prove the value of our position, but in the end by going through the process we may have proven our value to the organization. And that is the point, companies want people who want to improve their lot and in turn the company’s.

And if you’re interviewing pursue the same process. It may be harder to find the right person to answer your questions but if you do before the second interview you will bring information and knowledge to the table that will make you shine!

Common Cents: Know The Value Of Your Work is a post from: Glassdoor.com Blog

How to Get A Fair and Competitive Job Offer; Don’t Answer the Salary Question

Hank Stringer — Fri, 16 Oct 2009 16:13:53 +0000

What do you say when the recruiter or hiring authority asks how much salary / compensation / money you are looking for? You’ve waited for the interview, this is a company you want to go to work for or maybe you just need the job cause you just do…and they ask – How Much?

How Much Are You Asking for in terms of Salary or Compensation?

Answer to high – you might be out…too low and you’re screwing yourself out of life’s extras. What do you do? The answer is obvious, you’ve already been to Glassdoor and you walk in prepared with the market data you need – you know what others in the company and in competitive companies make for this job, this level. But maybe you don’t throw all the data out with a smile. It’s possible they don’t agree, have a lower figure in mind, have a higher figure in mind, and don’t know about Glassdoor (but need too). The answer today is the same you’ve heard and used in the past – get the employer thinking about stating the number first. Yes, you will continue to be asked to give last year’s W2 and give it honestly, BUT you must first get them thinking specifically about your value to the company.

When asked how much, the answer that works is to simply state the positives you’ve learned throughout the recruiting process and state clearly…”based on what I have seen and learned about your company I have no doubt you will make me a fair and competitive offer”. Then they can ask about W2s, but first get them thinking ‘what is fair and competitive’? Then you can direct them to Glassdoor to find out.

How to Get A Fair and Competitive Job Offer; Don’t Answer the Salary Question is a post from: Glassdoor.com Blog

Why You Shouldn’t Wait to Broach the Salary Topic

Liz Ryan — Wed, 16 Sep 2009 15:21:00 +0000

In real estate sales, the conventional wisdom is that the person who mentions money first, loses – or at least is at a disadvantage during the negotiation. The same notion has been bouncing around the job-search advice-o-sphere for years, but here it doesn’t fit so well. It’s easy to see that if a job-seeker doesn’t bring up the salary topic at some point during the job interview process, he or she stands to be in a bad position when a low-ball job offer is extended. That’s one of the most disappointing experiences imaginable. “We love you, we think you’d be great for our team – does (shockingly low/insulting salary figure) work for you?” We can’t afford to spend all that time in a stressful interview process only to realize at the last second that the employer has no intention of paying us what we’re worth. We’ve got to get some numbers on the table. But how and when do you broach this sticky topic?

My suggestion is to wait until a second face-to-face interview, or to broach the salary topic when an email message or phone call arrives to invite you for a second interview. That’s when you can say “That’s great – I’d love to come back and meet more of the XYZ team members. Just so that we’re not wasting anyone’s time, shall we synch up on compensation now?” When we open the topic, we can expect a screener or hiring manager to come back with “So, what were you earning on your last job?” We don’t have to share our last salary level – although if that number suits you and is in line with what you believe this new job should pay, feel free to spit it out. Lots of people don’t want to share their past salary, usually because it wasn’t representative of the salary trajectory they’d been following up to that point. Maybe they worked for a not-for-profit, or were simply working for a cheapskate employer or manager who didn’t pay them their market value. In that case, we can say “I’m focusing on positions in the $X range.” We can share a salary target, rather than a past salary.

Once we put a number (or a salary range) out there, we can expect the employer rep or the hiring manager to react. We want to make sure the number we mentioned isn’t going to be out of the ballpark for this employer and the time we’re spending on a second interview won’t be wasted. Just in case the person you’re speaking with or corresponding with doesn’t react to your salary number, you can say “Is that number in the ballpark for this role?”

Lots of job-seekers like to play their cards close to the vest. They don’t want to mention a number – they want to react to someone else’s number. But that’s not typically feasible. We have to price ourselves, in the same way a homeowner has to price his (or her) house in order to put it on the market. We can use resources like Glassdoor.com to get a bead on our market value if we’re not confident about that number when we begin a job search. We can’t wait for an employer to bring up this critical topic – they may not do it! In the worst case, we’re presented with an underwhelming offer for a sum we could never countenance. It’s our responsibility to make sure the surprise-lowball-offer scenario doesn’t come to pass, by clearing the air on the salary front before anybody starts thinking about a job offer.

Why You Shouldn’t Wait to Broach the Salary Topic is a post from: Glassdoor.com Blog

Oracle Shareholders Not the Only Ones to Complain About Ellison’s Salary

Glassdoor Team — Mon, 24 Aug 2009 20:12:40 +0000

It was announced today that Larry Ellison, CEO of Oracle has agreed to be paid a salary of $1 for the upcoming fiscal year, down from the $1 million he got in the 2009 fiscal year. The move comes after Ellison was criticized at last fall’s annual meeting for making $543.8 million when he exercised 36 million stock options. And it’s not only the stockholders expressing concerns over Ellison’s significant executive compensation.

Here’s what employees have to say:

Stock option grants are small and infrequent while Larry and his cronies give themselves millions every year. – Oracle Director (Redwood City, CA)

NO pay raises. No advancement opportunities. Too many management levels; almost no real communication from upper management. Executives get high pay and stock options; workers get nothing. Stock purchase plan for employees is a joke. – Oracle Systems Engineer (Location n/a)

Company does not reward company loyalty. Employees promoted from within are usually paid 30-40% below external hires. – Oracle Sales Representative (Dublin, Ireland)

Here’s how Oracle employees’ salaries compare to Ellison’s:

Oracle Salaries – Glassdoor Salary

Larry Ellison currently holds a moderate 63% approval rating and a 13% disapproval rating, and interestingly, he falls among the top 100 highest rated CEOs on Glassdoor.com as of today (ranking #85 among CEOs with more than 25 reviews).

Oracle Shareholders Not the Only Ones to Complain About Ellison’s Salary is a post from: Glassdoor.com Blog

Future of Finance Jobs

Glassdoor Team — Tue, 28 Jul 2009 18:39:19 +0000

Given latest news report from Reuters, it looks like the recession could be on its way out. This news combined with reports from the Bureau of Labor Statistics that the finance sector is expected to make significant number of hires in the next few years shows promise for those entering or re-entering the industry.

Curious what you can do now to get ahead and get a job in the finance sector? For starters try checking the interview and company reviews at Glassdoor.com to see what current employees and job candidates advise and what the current temperament is like within a specific company. In addition, you can get up to date reports on what people are earning. For example, you can see what a finance manager makes at a number of different companies like American Express or Dell:

Finance Manager Salaries – Glassdoor Salary

There are also some other useful innovative and informative resources that have cropped up recently that can help finance professionals get the edge they need to get the job. One comes from the Wall Street Journal—they have created a new web site, Fins.com, which provides job seekers in the finance industry with a new tool to track down open jobs.

Another suggestion is to look out for networking events. David Gildea, a health care equities trader at Morgan Stanley, recently suggested on a ‘Future of Finance’ panel that college interns majoring in finance: “Go out and interact with people on as many levels as possible…Get involved in campus and charity organizations, and take everything in.” However, he urges that people “turnoff” the blanket e-mail that states, “Hey, I’m looking for a job.”

Future of Finance Jobs is a post from: Glassdoor.com Blog

Hourly Jobs: Top Companies to Work For

Glassdoor Team — Mon, 20 Jul 2009 18:04:33 +0000

When it comes to looking for an hourly job, we often ask ourselves “What is this going to pay?” and “Will the schedule work?” But how do you know if a company offers fair pay, a flexible work schedule and a number of other workplace attributes that make for a good work environment? To help answer that question, we evaluated specific jobs by company where hourly pay is how the majority of these employees are compensated and analyzed the company ratings to see who gets high marks in terms of: career opportunities, communication, compensation & benefits, employee morale, recognition & feedback, senior leadership, work/life balance, and fairness & respect.

Two companies rose to the top of the list, Apple and Starbucks, both receiving a satisfied rating from current or former hourly employees.

Glassdoor Report: Top Employers for Hourly Employees*
Company	Company Rating
Apple	3.9	Satisfied
Starbucks	3.6	Satisfied

* This Glassdoor report is based on specific jobs by company with 50 or more reviews where the majority of compensation is reported to be hourly

If you are interested in getting a job with either of these companies, we have included below access to the interview reviews from recent job candidates at these companies:

Apple

Starbucks

Barista

On a side note, it could get pretty interesting for hourly retail employees interested in technology now that Microsoft plans to increase its retail presence and open up stores next to Apple stores – this announcement will likely bring about more jobs and keep pay and other benefits pretty competitive and attractive for these retail workers.

Other companies, with 50 or more reviews, that receive neutral ratings from hourly employees include: Best Buy, Target, CVS Caremark, Walgreen, Lowe’s, Home Depot and WalMart.

Hourly Jobs: Top Companies to Work For is a post from: Glassdoor.com Blog

Where NOT to live if you’re looking for a high-paying job

Glassdoor Team — Wed, 15 Jul 2009 18:01:02 +0000

Does your location inhibit your earning potential? Forbes.com published a list of the top 10 best and worst towns for high-paying jobs yesterday, and focused in on those in the business and professional services category. More specifically this includes jobs in human resources, architecture, law, accounting, science and technology. Forbes reports that there are currently around 17 million jobs in this category, which, as the article notes, is twice the size of the finance sector.

In reviewing the list of towns included as the worst for high-paying jobs, there are a few clear patterns to note. Many are affected by the declining housing market, as cities such as Phoenix, Los Angeles and Orange County have seen significant losses in this area which in turn is affecting the business and professional service industry accordingly. Declines in other industries, including auto and tourism also have had a negative impact on this category of jobs.

Does your city make Forbes list for the Worst High-Paying Jobs? Check out their list of top 10 cities below and click on the links to view the Glassdoor salary reports which give first hand insights into the specific jobs at specific companies from employees who work in these areas.

1. Phoenix-Mesa-Scottsdale, AZ

2. Warren-Troy-Farmington Hills, MI

3. Chicago-Naperville-Joliet, IL

4. Los Angeles-Long Beach-Glendale, CA

5. Atlanta-Sandy Springs-Marietta, GA

6. Orlando-Kissimmee, FL

7. Santa Ana-Anaheim-Irvine, CA

8. Minneapolis-St. Paul-Bloomington, MN -WI

9. Edison-New Brunswick, NJ

10. Detroit-Livonia-Dearborn, MI

While this isn’t to say there aren’t still opportunities in these areas, they are few and far between in comparison to those listed on the best towns for high-paying jobs. Areas around Washington, D.C. and northern Virginia, for example, likely have more jobs due to the demand in the government sector.

So if you are in the job market, research your location to find out where the best place may be for you based on your area of expertise. Also check out some relocation tips from Glassdoor career & workplace expert Rusty Rueff.

Where NOT to live if you’re looking for a high-paying job is a post from: Glassdoor.com Blog

Citi Salaries Up; Bonuses Down

Glassdoor Team — Thu, 25 Jun 2009 16:05:08 +0000

Citigroup announced plans Wednesday to restructure their compensation by increasing base pay for employees whose salary would be affected by government bonus restrictions. The final plans are yet to be revealed, but sources note it would not affect overall compensation, but would shift the mix in compensation from bonus to salary to adhere to the mandate for bonus caps.

So what does this mean for Citigroup employees? Some could see their salary rise as much as 50% — purportedly to help keep top-tier talent at the struggling investment bank. We see one Citigroup Senior Fund Accountant report on Glassdoor.com that they are ‘underpaid’ and suggests that the company should “Hire more qualified managers and give pay based on performance.” Given that the company received $45 billion from the government, switching bonus dollars to base salary hardly seems like a good use of taxpayer money.

Citigroup salary reports on Glassdoor vary widely, with Executive Vice Presidents reporting a total compensation package of more than $500K. Anonymous reports for Managing Directors with the company note an average base salary of $210K with bonuses of up to $1 million.

Citi Salaries Up; Bonuses Down is a post from: Glassdoor.com Blog

Best Buy CEO Takes 60% Pay Cut; Employees Show Anderson Can Improve

Glassdoor Team — Thu, 14 May 2009 15:56:33 +0000

The Associated Press reported Wednesday that current Best Buy CEO Brad Anderson saw a 60% paycut in 2009 compared to the previous year, which nets out at a still impressive $1.3 million. The decrease in earnings for Anderson, and for other top executives, is due to a lower performance bonus this year. The base salary Anderson received of $1.2 million is however a 6% increase from 2008. The additional $100k comes from benefits provided by Best Buy.

So is Anderson’s lower bonus this year fair? According to employees, Anderson has a 62% approval rating which underscores that there is room for improvement within the leadership of the company. For those 38% of employees who disapprove of the job Anderson is doing, lucky for them Anderson will be retiring from Best Buy this coming June and will be replaced by current COO Brad Dunn.

Glassdoor Report: Best Buy
	Company Rating	CEO Name	CEO Rating
Best Buy	3.5	Brad Anderson	62%

Can Dunn exceed the approval rating of his predecessor and potentially boost the company satisfaction score up from a satisfied rating of 3.5? Here is some feedback from Best Buy employees to Senior Management that will could make for happier employees and in turn help top executives surmount their performance goals and once again earn significant bonuses:

The people that often work the hardest will usually be the ones to tell you honestly how they feel. While this may sound negative you should listen because it is most often the truth. The truth makes you better. If you promote everyone that just agrees with you then you get a lot of people that can’t think for themselves.- Supervisor, Houston, TX

Hire some more people from outside the retail box. Get some new thinking in there.- Manager, Richfield, MN

Continue to stay ahead of the curve, but take care of the store leaders who deliver results!- General Manager, Orlando, FL

We’ll be sure to keep a close eye on Dunn as he takes office this June. It will interesting to see if he rises to the occasion or finds his way to our CEO Watch List.

Best Buy CEO Takes 60% Pay Cut; Employees Show Anderson Can Improve is a post from: Glassdoor.com Blog

Tips for Managing Through Salary Caps or Cuts

Rusty Rueff — Thu, 09 Apr 2009 16:53:21 +0000

All around us talented people are still losing their jobs and as many, if not more, are having their salaries cut from or capped at where it is today. Merit-based compensation increases in 2009 will likely be non-existent other than for a few rare and fortunate companies. And yes, we are all looking for the turnaround and recovery and we are longing to get back to where things were not that long ago. We wistfully remember those conversations where we were getting a 3% increase and complaining about the small size. Now, we have to learn how to deal with a new environment.

Here are some thoughts on how to manage your salary through what could be the next 12, 24 or 36 months:

Plan financially on not making more. Whatever you make now, plan on it being the same in how you budget your household finances. This will be hard with potential inflation around the corner, but it can be done. Start now with looking at what will likely increase next year and the year after and create a ledger so you can see what you have to do to keep up with increased outflow with stagnant inflow. Create the balanced budget for next year now and stay ahead of the curve. Not only will you be glad you did, but you can also say that you are more responsible than many legislators.

Plan emotionally on not making more. In many ways this will be harder than the financial strain. What is going to happen is that your emotional memory is going to kick in and you are going to miss that feeling of matching your performance with your “raise”. When our salaries go up, it is a great thing. We feel good. We can tell our significant others and family that we are all going to have a little more and our emotional capital increases with those conversations. Take that away and next year you will likely be talking to yourself in the shower about how hard you are working and not making any more money, and you can’t believe you have to put up with this, yada, yada, yada. As best you can, prepare for that conversation so that if and when it happens it doesn’t bog you down. Let it go now and be prepared.

Give yourself the raise anyway. Somewhere in that budgeting process, put a little aside for that special thing that you would have done had you gotten a merit increase. Whenever I would get promoted or get a significant pay increase, my wife and I would go out to dinner to celebrate. It was nothing really more than any other dinner but it had significance to us and did make me feel proud. Find the time of the year when you would have normally received a merit increase and go treat yourself then raise a glass to having a job, keeping it all together and not letting this crazy time drag you down.

Tips for Managing Through Salary Caps or Cuts is a post from: Glassdoor.com Blog