Tuesday 29 October 2013

Important Guidelines that will assist you in achieving your best compensation package.


  •  Find out what the marketplace is paying for the position you are seeking.
  •  Always attempt to negotiate an increase in any salary offer. If you cannot negotiate a higher salary then ask about the possibility of a three or six-month performance review with a merit increase based on performance.
  • Other elements of an offer are also negotiable. This may include bonus, benefits, vacation time, automobile allowance, business expense reimbursement, draw against sales commissions, title, relocation expenses, tuition reimbursement, etc. You may have the ability to impact a number of components in your package beyond just the salary. Make sure you fully understand the entire package.
  • Get the offer in writing so there is no misunderstanding. An offer that is not in writing is not a legitimate offer.
  • Never reveal your current or previous income. Never tell the interviewer your desired or expected salary. Let them make you an offer. You will be in a stronger negotiating posture.
  • Don’t attempt to negotiate an offer at the time it is extended, you will need time to consider it, talk with your spouse or other family members, and determine your best negotiating strategy.
  • If you are asked to accept an opportunity which requires relocation, the company may offer a spousal transplacement program. This is an often overlooked negotiable benefit to assist the spouse of a transferred employee in achieving employment in the new marketplace.
  •  When dealing with a salary or performance review, you should prepare a written summary of why you feel your performance merits an increase in salary. This summary should include a list of the top accomplishments you have had since your previous review. You should try to quantify your achievements wherever possible.
  • A final thought. One of the major impediments to women advancing into senior management is their perceived reluctance to take risk. Most women appear to want all their facts in order before making crucial decisions. This is a conservative decision-making approach that may make you appear as indecisive. Women managers are usually seen as more sensitive and nurturing, but less assertive and competitive then men. Experts believe that if you are willing to act boldly, to be less cautious and more willing to take calculated risk you may have a far greater chance of achieving career-advancing, high level management opportunities. If you want to grow into senior management ranks you don’t want to be seen as the “nurturing mother,” but rather as the decisive, aggressive, risk-taker.

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