The Offer Letter and Negotiation
Submitted by kellystaffingexpert on January 26, 2012 - 6:52pm
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If you would like to negotiate your salary the key is to clearly define the reasons why you should receive a higher salary. Saving up to purchase a Range Rover Sport or sending your kid to college are not valid reasons for asking for a higher salary. Following are some solid reasons you can seek to negotiate a higher salary: your skills are in high-demand within the marketplace, you received a competitive offer from another company, You have advanced degrees and/or highly desired specialized certifications, you would be taking too steep of a cut in pay if you were to accept the offer, you will need to self-relocate and a little boost in the salary would go a long way in assisting with the move, your skills will be more advanced than the other team members so you will be able to mentor and coach others therefore it would be nice if you were to compensated for this extra bonus you would bring to the team. Other reasons to negotiate a higher salary can be that you possess a special skill such as being fluent in 2nd language or agreeing to work a swing shift. Use the following resources to research your correct salary range:
*GlassDoor.com
*Salary.com
*Indeed.com – see top left corner of page and select ‘salaries’ link
*Payscale.com
*SalaryExpert.com
If you know for a fact that your skill is in high-demand or if the position will require a high amount of travel then you should inquire as to whether or not a sign-on bonus is available. A typical sign-on bonus runs between $3,000 to $5,000.
As you go through the negotiation phase keep in mind that most companies have set financial parameters to work with for each job they are seeking to fill. When determining how much money to extend with an offer the company will consider your skill set, education, the market rate and what the internal staff is earning for performing the same job duties.
Sometimes it is a smart move to accept a lateral position or to even take a pay cut. A pay cut might be a consideration if you will be transferring to a skill set where you have no experience and will be learning a great deal from working in your new role. Some companies are more reputable and offer better long-term career opportunities thus taking a cut in pay to get in the door may be an option.
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