#JobSearch #Friday – SALARY NEGOTIATION PAYS
Were you ever taught how to Professionally negotiate a better salary? Even if you were laid off, would you like to earn more than you were previously? Will that training benefit you and your family (if you have one)?
Generally, my training on videoconference or in person takes 40 minutes. In today’s Just Saying Thought Leadership, you will receive the basics in less than a 5 minute read and watch my television interview. You may want to consider clicking on the FOLLOW button to ensure that you receive my Jobsearch Thought Leadership every Friday.
When does Salary Negotiation Begin Informally?
When does Compensation Negotiation begin informally on the company side? When I ask that question to the professionals I coach, I receive many different responses. How would you respond?
- When the company calls to discuss my fit for an interview.
- When I complete an application they ask for my Salary Requirement.
- When we begin to interview.
- Other
My professional clients have responded the majority of the time with either number 1 or number 2. Even CFOs have responded with number 1 or number 2. It is fun to watch their expression when I tell them salary negotiation on the company side begins when they decide to open a new or replacement position – and attach a compensation range to the position’s value to their company. They smile – and agree.
When does Salary Negotiation informally begin on the candidate side? Obviously, I receive many varied responses. When do you feel it begins on your side?
Doesn’t Salary Negotiation informally begin when you decide to look for a position? Of course, it does!
Important Information
The first party to put a number on the table loses leverage in negotiations. The company knows its range for the compensation for their position. You don’t. As soon as you give the organization a salary number, several potential possibilities could impact your income – only one of these is a good impact – and even that ONE may limit your offer.
- You may price yourself out of the position. The Recruiter will say you are Too Expensive – and not call you.
Last year, when I recruited for enterprise sales professionals, I would look at the applications to see if there were a few good Sales Professionals in the “pile of applications.” I estimate that 25% of the candidates listed a Compensation Requirement that was at least 25% above what these positions paid. One person even wrote $1 million – don’t waste my time! It was easy to screen unreasonable requirements and put in the Thanks but no thanks pile (as in file in the applicant tracking system, probably never to surface again).
- Your salary requirement was your most recent compensation. What happens if they did not value the position as much as your current target company? The recruiter at your target company may feel you do not have enough experience for this position, simply based on the number you require.
- When the interview ends and both you and the company feel you are a match for the position. The manager/executive looks at your stated six-figure Compensation Requirement and says, “This must be a match made in Heaven! This is EXACTLY the number that we were thinking!” Seriously? You just left money on the table and the Executives are jumping for joy – OR, they may be concerned about your negotiation skills.
The Script is In This Television Interview
This is the LinkedIn link to my most recent – and 109th television interview. I have been interviewed many stations in the Midwest and Utah (KSL, Fox 13, Park City TV), and on CNN Headline News.
This is the script I have coached professionals since the mid-1980s. It works. During Covid-19, one of the women I coached called me to excitedly announce that she just accepted a new position that pays her 30% more than her current compensation. My script works! And this isn’t the first time one of my clients called with similar excitement.
Remember, for the past 39 years, my primary business has been Recruiting/Talent Attraction/Talent Acquisition. I know how to negotiate compensation – Salary is just a part of your compensation.
When a candidate uses my script, I smile to myself and say, “I just found someone else who read my book!”
For more details and for a Salary Negotiation script to accelerate your #Jobsearch, please immediately click on this link to my recent book, Employee 5.0: Secrets Of A Successful Job Search In The New World Order – http://amzn.to/2D9w39f My book contains the 12 Steps to find a new position in a nice, orderly fashion. According to a newspaper review, “It is refreshing to find an author who speaks With you and not At you!” It also has the stories of people who did well – and some who did not. You may learn from both sides.
My Talent Attraction business model is to work with one company at a time and charge a flat monthly fee. This enables me to become part of a company’s team for short or long periods. Therefore, I know what is going on behind the curtain that candidates cannot see.
I am here to help you further each week.
See you on Fridays!
Coming Soon, my third book on Finding A Job! Expect Success! The Art Of The Over 50 Job Search!
Bill Humbert is available for Speaking, Talent Attraction Consulting, Career Transition Consulting, and Training contracts.
https://recruiterguy.com/ RecruiterGuy@msn.com 435-714-4425
https://www.espeakers.com/marketplace/speaker/profile/23767/Bill-Humbert
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