Glassdoor Blog » Salaries

Tech Salaries For College Grads Rank Highest

FINS from The Wall Street Journal — Thu, 19 Jan 2012 15:00:26 +0000

College graduates who took jobs in engineering or computer sciences last year saw salary gains over 2010 and were ranked the highest paying fields for first-year hires, according to the National Association of Colleges and Employers, based in Allentown, PA.

Average starting salaries in engineering and computer sciences faired the best out of nine fields, including more than 40 different college majors, said Andrea Koncz, a NACE spokesperson who compiled the Salary Survey’s numbers.

Computer science graduates saw the largest increase in their average starting salaries, which rose 4.1% to $60,594 in 2011 from $58,229 in 2010.

Engineering graduates saw a smaller increase in their average starting salaries, which rose 1.5% to $61,872 in 2011 from $60,971 in 2010.

“For both of those fields, the salary increases are pretty typical of what we’ve been seeing over the years,” said Koncz. “For engineering and computer science majors, their skill sets are more desirable because they are more specific.”

The numbers reflect a national average, she said. Entry-level employees on the West Coast may have seen bigger gains.

The data used for the report came from employers in each field and were compiled through numbers provided by the Bureau of Labor Statistics and the Census Bureau. The data represent accepted starting salaries, not salary offers.

NACE will provide its first look at starting salaries for the Class of 2012 in April. – Originally posted on FINS from the Wall Street Journal by Damian Ghigliotty

Tech Salaries For College Grads Rank Highest is a post from: Glassdoor Blog

Want More Money? 5 Tips To Really Negotiate A Higher Salary

Meghan M. Biro — Tue, 17 Jan 2012 17:00:55 +0000

What are you worth to an employer? Quick, come up with a number.

OK. Now, let’s come up with a realistic number.

Negotiating salary is, for most of us, as difficult as getting past phone screens and interviews to the job offer. It can be tough to think of yourself in dollar terms. If you’re not prepared to negotiate, you’re sure to be unhappy with almost any offer. So don’t be caught flat-footed. Especially today – when companies may not have much flexibility with money – getting to the offer, and making sure it’s fair to all, is a necessary skill.

I’ve written here at GlassDoor about questions to ask during an interview to help you understand a company’s culture, and ways to figure the real and soft costs of commuting. Those topics also figure into a salary negotiation.

Salary, for example, is one measure of a company’s culture. Employees should be compensated fairly, compensation should be on par with similar companies in the region and the company should have a documented performance review process. If it’s a start-up, compensation may be difficult to benchmark, but for more established companies – say, those in business for more than ten years – it’s a simple matter to check Glassdoor.com, Salary.com, The Ladders and similar sites to get an idea of pay scales.

Commuting is also a salary issue. If you are looking at a long commute, for example, there are many associated costs – read the post and check out the calculator.

In salary negotiations, research, preparation and a realistic attitude will be your best friends. Here are a few things to think about.

Ask, or find out, what the salary range is. This goes if you’re applying for an advertised job or interviewing for an in-house promotion. Most companies post a salary range with job descriptions. If the salary isn’t posted, do research until you find a baseline range that matches your level of experience. This should be obvious, but it may not be: if the pay range is too low, pass. In this economy, talking to a prospective (or current) employer to up the salary scale is next to impossible – and it’s not the place to start negotiating.
Ask yourself what you need – what I call the magic number. Know what you need to live, what you need to save, and how much risk you can tolerate. This is especially important when you’re negotiating with a start-up, most of which defer a fair amount of compensation by offering stock options and other non-cash compensation. If you’re not sure, go to salarycalculator.org, plug in the lowest number on the advertised pay range and work back.
Ask about non-salary compensation. Health insurance, life insurance, disability insurance, workmen’s compensation, flexible spending accounts, on-site daycare, IRA matches (remember those?), bonuses (and those), paid training/education, vacation time and employee stock options. Most companies will offer some or all, and depending on where you are in your life, some will be worth more than others.
Know what the market will bear. You may think you’re worth $100K but if you’ve been out of school five years, are changing careers or geographies, haven’t managed other employees or perhaps don’t have many recommendations, you won’t be in a good place to negotiate. Keep in mind the average national wage as of the 2010 index is a sobering $41,673.83.
Know when to ask. Few of us want to talk about money, especially in an emotionally-charged setting. So stay on the front foot: ask what the salary is when you ask for the job. Ask before the interviewer makes an offer. Start the negotiation and you’ll feel more in control and better able to handle the conversation.

We haven’t talked nuts-and-bolts here. There are other pointers – rehearse with a friend or partner, do the research, don’t be defensive or aggressive if you don’t like the offer, don’t accept the offer on the spot and ask for a formal offer letter. Make sure the letter includes reference to non-cash compensation such as vacation, sick time and insurance. Find out when insurance coverage starts – COBRA adds up fast. Most important: be prepared to justify the salary you want. Come to the negotiation prepared with a summary of your accomplishments. Show your value to the interviewer. And remember: you’re not just a number on a paycheck. You’re worth more than that.

Want More Money? 5 Tips To Really Negotiate A Higher Salary is a post from: Glassdoor Blog

Real Salaries Of 2011: What To Expect In 2012

Aol Jobs — Tue, 03 Jan 2012 15:00:16 +0000

Considering a new career? Before you jump into a new industry or profession, read this. From personal chefs to commercial pilots, corrections officers and celebrity realtors, here’s what they actually made last year.

Personal chefs to plastic surgeons and more:

Allison, a PA-based personal chef, $55,000
Angela, Social Media Manager, $42,000
AnneMarie, Newspaper Reporter, $26,000
Cindy, Elementary School Secretary, $17,500
Chad, Beverly Hills Celebrity Realtor, $1 Million+
Bill, Corrections Officer, $44,000
Bryan, FedEx Pilot, $148,000
Frank, Plastic Surgeon, $1 Million
Helen, Registered Dietician, $72,000
Jeanine, Library Director, $38,000
Julie, Food Truck Owner, $43,000
Sandi, Emergency Room Registered Nurse, $50,000

A look ahead

With the U.S. economy teetering daily like the teeter-totter on a children’s playground, it’s smart to focus your career on skills that you know well. If you’re considered an expert, employers will pay. If you’re thinking “now’s the time to go out on my own”, check your savings account for 12 months of living expenses and ensure it and the economy are backing.

Salaries will stay at their current rates for 2012 and those receiving job offers will have room to negotiate for their fair market value. Engage salary tools (e.g. payscale.com, salary.com and glassdoor.com) to determine your fair market value when engaging in salary negotiations.

285,000 jobs a month for 5 years

While the Economic Policy Institute predicts it would take 285,000 new jobs per month for the next 5 years for our economy to return to pre-recession unemployment levels, all it takes for you to return to that state is one new job. Focus on that one and it’s a far more attainable goal.

3 Hot Industries in 2012

The hot industries remain consistent in 2012: Healthcare, Digital/Social Media and Green Energy. If you’re already in these industries, great for you. If you’re looking to break into one of these, focus on skills that transfer easily (e.g. project management, client relations, team management, accounting). Most importantly, connect the dots for the hiring manager in your personal brand, on your resume, LinkedIn profile and during the interview.

Happy 2012! – Originally posted on Aol Jobs by Adrianna Llames

Real Salaries Of 2011: What To Expect In 2012 is a post from: Glassdoor Blog

Closing The Deal: Ten Steps To Successful Negotiations

MonsterThinking — Fri, 16 Dec 2011 15:00:11 +0000

There are ten steps that can be followed to simplify and organize the planning approach for a negotiations process.

Following these ten steps will increase your efficiency and effectiveness in negotiations:

Step 1. Never Forget Your True Objective – To Maximize Your Own Gain:

Remember ME comes before WE, but you need them to get there. Only you decide if you move, how much and in what way.

Step 2. Prepare or Don’t Play:

Learn as much as you can about the other party, including personal information, and keep a clearing house of notes for the future.

Learn about the context in which the other party functions. Create viable alternatives.

Know your value to them and how to reduce their perception of the value they bring you. Create a living, dynamic map to guide you.

Plan your bidding and counter bidding strategy. Practice and role play.

Step 3. Don’t Sympathize With the Other Side, Empathize:

Put yourself in their shoes and inside their head. Consider how you would respond to what you are saying and what would motivate you to say what they are saying.

But don’t lose sight of the prize – ME comes before WE.

Step 4. Teach The Other Side To Empathize with You:

Use the language of the other party and what they have already said – put it in their terms. Emphasize that “I’m just like you.”

Step 5. Manage Yourself:

Take a hard, honest look at yourself and develop strategies to use your strengths and minimize your weaknesses. Be trustworthy, but verify what you’re told.

Believe what you say and say what you mean. Play by whatever rules you ask them to play by.

Step 6. Manage The Other Party:

Make sure that you make the deal worth their while, while making them play by their own rules. Get guarantees, not promises – rebates, not volume discounts.

Use the power of principled persuasion, based on reciprocity, scarcity, authority, consistency, consensus and making friends to influence people.

Step 7. Exchange Information Before You Exchange Value:

Don’t sell any deal until you know what can and should be sold. Listen with your ears instead of your mouth, and don’t interrupt. Also listen with your body and your mind. Challenge your assumptions and take note to see what’s missing.

After you listen, play Sherlock. Prepare to respond to questions that you do not want to answer. Prepare to say no and explain why.

Provide solutions, not just problems. Remember that how you say something can have more impact that what you say.

Step 8. Time is On Your Side:

Share your time deadlines, but don’t share your time costs.

Remember the importance of momentum – feed a conversation, starve an impasse.

Use a time-out when needed to think, get them to move or reduce emotion.

Step 9. Consider Implications For the Future:

Consider what precedent this deal will set and how it will impact the future profitability of deals.

Know what happens if the other side doesn’t follow through?

Step 10. Refine and Learn:

Unfortunately, there’s no “silver bullet” for success in negotiations, and while these steps and details provide a framework which can be leveraged in real world situations, practice doesn’t necessarily make perfect. But it can help.

I recommend learning, practicing and refining these steps by participating in practice negotiations or by additional opportunities to gain exposure to negotiation best practices and theory. Many valuable online and offline opportunities to learn and utilize negotiation skills exist, such as my Master Negotiations Executive Education program at SMU Cox School of Business.

Following these steps is one negotiation that all sides should agree on without compromise. After all, they’re a win-win. – Originally posted on MonsterThinking by Dr. Robin Pinkley

Closing The Deal: Ten Steps To Successful Negotiations is a post from: Glassdoor Blog

Employees Bonus Expectations High In 2011, Cash Is King

Glassdoor Team — Tue, 06 Dec 2011 11:00:25 +0000

Employees are sending a clear message this holiday season: they expect a bonus and they want it to be cold, hard cash. And forget the holiday party, even with an open bar.

A new survey by Harris Interactive®[i] finds that the majority of employees say they would prefer a cash bonus this year (72 percent), followed by a salary raise (62 percent) and additional paid time off (32 percent).

Expectations for receiving a bonus are high this year: of those employed and eligible for a bonus, a full 58% say they expect an end of year windfall, and 20 percent expect it to be more than their last bonus, while 13 percent expect it to be less, and 22 percent are unsure. However, the check amount may not be quite as much as employees hope – Johnson Associates is reporting Wall Street bonuses may be down 20 – 30 percent over last year.

What Other Perks Make Employees Happy?

Employers who can’t afford a big handout need not worry – employees note that perks such as an extra day off or even a grocery gift card would be preferred. Save the chardonnay and shrimp cocktail, though — traditional holiday parties rate low this year, as a mere 4 percent of employees prefer this “perk.”

Male and Female Expectations

There are some stark differences in how male and female employees want to be recognized and rewarded at the end of the year – employers, take note!

Holiday Perks: More men (16%) said they would be interested in receiving company stock or shares as a holiday perk than women (6%), whereas more women (18%) said they would prefer the option to work from home for a year than men (11%). More women (29%) also prefer grocery gift cards over their male counterparts (18%).
Bonus Expectations: More men (74%) report being eligible for bonuses than women (69%). Among employees who are eligible to receive a bonus this year, nearly twice as many women (17%) report they are unsure of the bonus amount than men (7%) whereas more men (30%) than women (22%) expect their bonus to be the same as last year.

What’s going on at your company? Do you expect a bonus this year? Would you prefer other perks, like paid time off or a holiday party? Tell us what your job is like by sharing a company review and see what your peers are saying, too.

_________________________

[i] Survey Methodology

1) For the purposes of this study “employees” were defined as U.S. adults 18+ employed full time and/or part time unless otherwise indicated.

2) This survey was conducted online within the United States by Harris Interactive on behalf of Glassdoor from November 3-7, 2011 among 2,574 adults ages 18 and older of whom 1,495 are employed full time, part time and/or are self employed. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated. For complete survey methodology, including weighting variables, please contact pr[at]glassdoor.com.

Employees Bonus Expectations High In 2011, Cash Is King is a post from: Glassdoor Blog

When Asking For A Raise, Don’t Lean To The Left

Aol Jobs — Tue, 22 Nov 2011 15:00:03 +0000

Upright truly is right, it turns out.

A study to be published in the forthcoming Psychological Science is demonstrating that those who lean to the left are more likely to underestimate numerical figures. And because the research only held up when respondents were assessing an unknown number, it was accepted to be applicable for gauging expected and desired salaries, according to a report by the Association for Psychological Science.

“Be careful to stand upright next time your boss asks you how much you should be paid. If you are leaning to the left you will be putting a lower value on your worth,” the APS said in a report. “Researchers found that covertly manipulating the tilt of the body influences people’s estimates of sizes, numbers and percentages.”

The study was conducted through an investigation of 33 people’s responses to a host of questions, touching on a broad range of metrics including height and amount. The survey participants were asked, for instance, the height of the Eiffel Tower, the percentage of alcohol in whiskey and how many number one records Michael Jackson had during his musical career.

As they were responding, the participants were asked to stand on a Wii board, which could track left and right body tilt. Unlike leftward tilt, a respondent leaning to the right showed no impact on assessment. In trying to make sense of the connection between underestimation and leftward leaning, one of the researchers said the phenomenon must be appreciated in the context of the host of factors that go into human decision-making.

“Decision-making is an integration of multiple sources of information – memory, visual imagery, and bodily information, like posture,” said Anita Eerland, a psychologist at Erasmus University Rotterdam in the Netherlands, which is where the study was conducted. Eerland was quoted in The Express.

While the source of the left leaning and underestimation may be wrapped up in individual confidence, the effect of physical appearance on your bosses is also receiving a closer look as of late, thanks to two recent studies. As was covered on AOL Jobs in August, economist Daniel Hamermesh, of the University of Texas, Austin, and sociologist Catherine Hakim, of the London School of Economics, both completed reports in which they underscore the potency of physical attractiveness as a weapon in the workplace.

In her book, “Honey Money: The Power of Erotic Capital,” Hakim says her title phrase, erotic capital, is as vital in the office as actual job bona fides. Therefore, women should use their erotice powers for their career, especially because they are still operating in a non-egalitarian corporate environment.

For his part, Hamermesh, in his book, “Beauty Pays,” says that ugliness is a final front of workplace discrimination.

“One study showed that an American worker who was among the bottom one-seventh in looks, as assessed by randomly chosen observers, earned 10 to 15 percent less per year than a similar worker whose looks were assessed in the top one-third — a lifetime difference, in a typical case, of about $230,000,” he wrote in the New York Times in promoting his book.

And so judicial remedies are needed, he contends.

“With all the gains to being good-looking, you would think that more people would get plastic surgery or makeovers to improve their looks,” he also wrote. “A more radical solution may be needed: Why not offer legal protections to the ugly, as we do with racial, ethnic and religious minorities, women and handicapped individuals?” – Originally posted on Aol Jobs by Dan Fastenberg

When Asking For A Raise, Don’t Lean To The Left is a post from: Glassdoor Blog

Banking Employees Reveal Salary Amid ‘Occupy Wall Street’ Rallies

Glassdoor Team — Thu, 20 Oct 2011 19:49:20 +0000

According to FINS.com, a recent survey showed that starting salaries for accounting and finance professionals are projected to increase an average 3.5% in 2012 as companies look for help to streamline their operations. Good news considering that according to Glassdoor’s most recent EmploAyment Confidence Survey, just one-third (36 percent) of employees expect a pay raise in the next 12 months.

Given the ongoing Occupy Wall Street rallies that have taken place around the world from New York City to San Francisco to Rome, we were curious to see what salaries look like for those in the banking industry – especially when top executives at several of nation’s largest banks reach incomes well into the millions.

In Glassdoor’s latest report, we discover what personal bankers, financial analysts, associates and vice presidents earn at institutions like Goldman Sachs and Bank of America earn in terms of average base salary. Vice Presidents at Capital One take the top spot in this report and reportedly earn a base salary of $201,900. At the associate level, Goldman Sachs’ associates have the edge with a base salary of $101,800. For financial analysts, Capital One steps up again as one of the highest paying companies. When we look at salary reports for personal bankers, Wells Fargo champions ahead with a reported $35,500 base salary.

Is this enough? Are employees satisfied with their compensation and benefits at these eight companies? It’s interesting to note that employees at Goldman Sachs (4.0, Satisfied) are most satisfied with their compensation and benefits, whereas employees at U.S. Bank are least satisfied (2.8, OK). The average satisfaction rating across all industries when it comes to compensation and benefits is 3.1.

Wondering what else employees have to say about the salary at these big banks? Below are just a few recent reviews:

“Salary compared to other financial institutions is low.” – Bank of America Employee (Charlotte, NC)

“The pay is awesome I make 11.56 p/hr as a part time teller and you get full time benefits, they pay for your school and don mind working around it.” – Bank of America Teller (Springfield, MO)

“Salary was very competitive compared to competition.” – Capital One Employee (McLean, VA)

“The benefits and pay are unbeatable. I never had a problem getting time off when I needed it. A fun and professional work environment.” – Capital One Teller (Southlake, TX)

“They gave me an opportunity based on faith and have provided me with full benefits and a more than fair salary.” – Citigroup Expense Management Analytics Senior Associate (New York, NY)

“The salary and benefits are competitive with other companies in the same industry. The people are generally helpful and professional.” – Citigroup Senior Programmer Analyst (location n/a)

“It is a great overall experience, a very lucrative experience too I should add. I ended up with bonuses and shares that greatly overprices my salary.” – Goldman Sachs Senior Associate (location n/a)

“Compensation/good brand name outside work place.”- Goldman Sachs FX Derivative Strategist (New York, NY)

“Their compensation practices during promotions; they are unfair when it comes to compensation for internal promotions. Someone coming from outside will get more money than someone getting promoted from within to the same position.” – J.P. Morgan Chase Employee (Tempe, AZ)

“Chase is extremely structured, and there is no salary cap.” – J.P. Morgan Chase Licensed Personal Banker (Hazel Crest, IL)

“Salaries need to be more competitive for the hours and responsibilities given.” – Morgan Stanley Employee (Baltimore, MD)

“Great salary, worthwhile job, and competitive circumstance.” – Morgan Stanley Employee (New York, NY)

“Low base salary compared to other positions, low bonus payout for investment and bank sales.” – U.S. Bank Financial Specialist (Milwaukee, WI)

“Flexible work schedule and aggressive commission scale.”- U.S. Bank Mortgage Loan Officer (Cincinnati, OH)

“Opportunity to make good money on commissions.” – Wells Fargo AMPB I Personal Banker (Salt Lake City, UT)

“There are paid compensations for meeting and exceeding certain goals, and lower management (at my store, anyway) was great about hands-on training and encouragement.” – Wells Fargo Teller (Denver, CO)

Banking Employees Reveal Salary Amid ‘Occupy Wall Street’ Rallies is a post from: Glassdoor Blog

How To Ask For A Pay Raise During A Recession

onTargetjobs — Wed, 28 Sep 2011 21:00:53 +0000

“Please sir, may I have some more?”

It may seem counterintuitive even to consider asking for more money when times are tough, but today’s circumstances may actually be favorable for stating your case for a raise. In fact, the 2011 Culpepper Salary Increase Budget Update Survey revealed that salary budgets, including increases, are higher in 2011 than they were in 2010. The survey also revealed that the number of companies instituting salary freezes has declined, and salary cuts have become virtually non-existent.

Of course, you’ll need to proceed carefully with your quest for a bigger bowl of porridge. You don’t want to come across as out of touch or indifferent to the financial challenges still facing your employer. There may even be danger in asking for more if you aren’t great at your job or difficult to replace. On the other hand, if you don’t ask for a raise, you’re unlikely to get one. In times of financial crisis, no one is going to give you more unless you ask for it. But you must be prepared to prove your worth.

Start by determining your market value based on education, skills and experience, as well as your industry, position and geographic location. Glassdoor.com and Salary.com are ideal for this purpose. You may also discover useful salary info on the Bureau of Labor Statistics website. Many experts advise against negotiation attempts in a recession if you are not earning below average wages.

Next, make a list of achievements since your last salary increase and document their significance. Numbers speak loudly, so try to assign a dollar value to each item. For example, if your marketing campaigns brought in x number of clients each spending y amount of dollars, document it. If you implemented a cost-cutting measure and saved the company z amount of dollars, document it.

Document specialized skills you bring to the table as well. Are you the only person in your department able to do x, y or z? Do you have experience or connections that benefit the company? How hard would it be to replace you? For example, if your skills allow you to fill three distinct roles, would the company need to replace you with three individuals?

List your accolades. Go through your emails and pull out quotes from clients, co-workers and supervisors pertaining to your performance. Your boss cannot claim that you’re not working hard enough for a raise if you have twenty emails where you’ve been thanked for your diligence. Nor can anyone claim that you’re not a team player when you have numerous emails showing that you’ve assisted others.

Once you’ve gathered the cold, hard facts, it’s time to make your case. Request a meeting with your boss. Present him or her with your data and ask for a specific compensation increase. Be tactful yet confident. Don’t be apologetic or make excuses. Leave your personal financial situation out of it. Your boss does not want to hear about your mortgage payments. Whatever you do, don’t make threats and don’t come across as pushy or angry.

If your employer acknowledges the validity of your request but states that an increase is not possible given the current financial situation of the company, it could be a good time to ask for something else in return. Consider requesting an upgraded title/promotion, telecommuting privileges, reimbursement for commuting, a bump in commission, stock options, scheduling flexibility, extra vacation time or a written agreement to increase your salary as soon as the company is back in the black. – Originally posted on onTargetjobs by Angela Rose

How To Ask For A Pay Raise During A Recession is a post from: Glassdoor Blog

3 Tips To Seal Your Optimal Salary

Kevin W. Grossman — Thu, 22 Sep 2011 16:00:30 +0000

Second to receiving or giving performance feedback, negotiating salary is the most uncomfortable thing to do in the world of work.

But not for everyone. There are those of you who look your prospective or current employer right in the eye with steadfast confidence and say, “I want $X-K per year because of Y and Z, and not a penny less.”

And in response, there are those employers who say, “Well, the position wasn’t budgeted for $X-K per year, so I’ll throw in more days off, because of your excellent Y and Z, but not a penny more.”

Then there are the rest of us who shoot way too high or aim way too low. Been there done that many times myself. And today’s economy makes it even more difficult with companies increasing base salaries modestly at best. Plus the variances of your experience – starting a job for the first time versus negotiating an executive position – make a difference as well.

My advice is very simple: try to think and react proactively like a seasoned marketing and sales professional. Marketing and sales pros understand how to:

1.Research, research, research.

Sure, life moves pretty fast and you usually don’t have the luxury to fully understand the business you’re interested in working for, but whether you’re looking at a new job prepping for your final interviews or preparing for an internal move with a company you already work for, you should take the time to understand the scope and potential salary of your target “market” – which, in this case, is the ‘landing the job.’

There are many sites today that show you salary ranges by industry, position and geography, including Glassdoor.com. Don’t go into your negotiation blind. Even a little knowledge can be a powerful tool when attempting to ensure you’re getting paid at fair market value. You may be going in and playing chicken – who will spill the salary numbers first.

2. Generate awareness to make the business case.

It may be easier to stay visible in a smaller company, but regardless of size and performance management processes, if you’re already working for the company, you should definitely document your own professional accomplishments. And not just a random list; make sure to map as best you can your accomplishments to helping the business grow.

Same goes for generating awareness for your new job, although you’ve already done most of the heavy lifting since you got the job offer in the first place. But you must still use your previous experience as well as projected accomplishments to convince your potential employer you’re worth more than they offer.

You must make the business case as to how your past experience and/or current productivity “investments” have impacted the business or will impact it and why the company should invest in you further.

3. Build in wiggle room to close the deal.

If you’ve ever had the opportunity to witness and/or read about sales pros closing consultative sales – ones that involves doing the homework, building the relationship, generating awareness and interest, making the business case, and then closing the deal – you’ve got a pretty good idea that it’s not something you just wing.

But one thing you do need to do is to build in wiggle room with your salary counter offer, or initial offer if a prospective employer and/or internal move asks you to name it. This is an art more than a science, because like in sales, you’re always trying to pad the margin as much as you can in order to make a profit if and when the deal closes. If you shoot too high, you’ll insult and amuse them and the negotiation may be short-lived. But if you aim too low, then you’ve wiped out your margin and any chance at going back up.

Think about it – it’s much more difficult to negotiate up than it is to negotiate down. If you ask for $X-K per year salary and your employer says okay, and you go home and think about and realize I should’ve asked for more, and then you come back and ask for more, odds are the offer won’t change.

These tips may not always work in every salary negotiation scenario. Just remember that the difference between your optimal salary and what your employer wants to pay you can sometimes be bigger than you think. Make the business case and good luck in sealing the best-paying deal.

3 Tips To Seal Your Optimal Salary is a post from: Glassdoor Blog

3 Salary Negotiating Tips To Get What You’re Worth

Nancy Mann Jackson — Tue, 20 Sep 2011 14:00:09 +0000

Chances are that at some point during your hiring process, you’ll be asked about numbers. Salary numbers, that is. Most hiring managers want to know if the salary they can offer is in the same ballpark as the salary you expect; if not, you’re both wasting your time. But what if you’re new to the field, or new to the job market altogether? Figuring out how to answer the salary question realistically, without leaving a lot of money on the table, can be tricky.

First, don’t be offended if an employer asks for your salary requirements. “When employers are asking you to state your salary needs, they’re simply trying not to waste their time,” says Darcy Eikenberg, a leadership and workplace coach and the founder of Red Cape Revolution. “No one wants to fall in love with you and then realize they can’t give you what you want.”

“Employers ask for expected salary to determine whether or not they can afford to hire you,” adds Hillary O’Keefe with Onward Search, a staffing company for careers in Internet marketing. “They’re almost always working with a budget based on internal factors as well as external considerations like regional salary rates and the state of the local talent market. If your proposed salary fits, you’ll be that much closer to landing the job.”

Do your research. Because getting the salary right can be an important piece of the job-landing puzzle, start by researching the potential salary for someone with your level of education and experience in the position you’re trying to obtain in your city. Glassdoor can be an excellent reference for regional and field-based compensation. “Knowledge is always power,” Eikenberg says.
Connect with others. In addition to conducting online research, talk to professionals in the field, O’Keefe recommends. “You don’t have to ask for the exact number they take home,” she says. “‘Does this sound like a reasonable salary for this job in this area?’ is a great way to find out if you’re asking for the right range. The combination of online and in person research should give you an accurate range to propose. And remember, there’s almost always a little room to negotiate.” It’s also a good idea to connect not only with others in the field, but with others in the specific company where you’re interviewing. Eikenberg recommends LinkedIn as well as in-person networking. “You can say, ‘I’ll be interviewing for XYZ job, and in doing my research, I understand the typical salary range is $X to $X. Based on your experience, does that sound about right at your company, too?’ This gives you the opportunity to see how relevant your research is in a way that doesn’t make someone uncomfortable that they’re giving away private information!”
Respond confidently. After conducting research both in person and online, you can be prepared to answer questions about how much money you’d expect to make at a particular job. And just because you have knowledge, that doesn’t mean you necessarily have to say a number first, according to Eikenberg. “When the question comes about salary, you can then respond with confidence, ‘Based on the research I’ve done on similar roles/industries, I would expect my salary to be in a similar range. However, I know every organization is different–what is the salary range for this job at this company?’” she says. “It’s rare that someone will play the game of ‘you tell me first,’ but if they do, you certainly can give them the range you researched.”

3 Salary Negotiating Tips To Get What You’re Worth is a post from: Glassdoor Blog