With the internet accessible to almost everyone, work seekers are furnished with more data than ever. Data can be acquired for employment opportunities, sets of expectations, and even salaries. Now and then when rounding out an application, a box will request what salary you desire. A few job advertisements actually request that you send your resume with salary necessities. These applications are some of the time very hard to decide what salary you desire and/or what is a fair salary for this position. How much does that employer typically pay? Is the employment candidate worth the top pay? Some fundamental ideas ought to be comprehended before attempting to negotiate your salary. To begin with, one must understand that a job in New York City …show more content…
According to the Claremont Graduate University, “Salary negotiation is the process of reaching an agreement on what an organization will pay for your skills, knowledge, and experience. Contrary to popular belief, this is not an adversarial process. It is both the organization’s and your best interest to come to a mutually beneficial agreement.” When deciding if you should negotiate your salary, there are a variety of do’s and don’ts. First off, always do your research. When it comes time to researching you want to research the salaries for positions that are similar to yours. Basically, know what your worth is. As stated by “12 Dos and Don 'ts for Negotiating Salary in a Tough Economy” written by Dawn Dugan, when it comes to the don’ts for the research step she states, “Don 't assume that salary and/or benefits aren 't negotiable in this type of economy. Most organizations -- about 80 percent, in fact -- expect negotiations and leave themselves some wiggle room.” Next, you want to make a good impression. During your interview, you do want to spend a lot of time on getting to know the employer and also asking questions. Do not start your interview talking about your salary and benefits. As claimed by, “5 Salary Negotiation Tips that Work,” by Jerome Young, “There’s an old saying “The first person to bring up money, loses.” Starting a discussion about salary prematurely sends a signal …show more content…
Maybe you would want to talk about some ideas you could possibly have and how that would benefit their company, but do not sound too much like a “know it all.” Also, you do not want to solely talk about yourself and do not get to personal, they do not want to hear about your personal life. While talking about yourself and what you can offer to the company, you also want to agree to take on more responsibilities. Where it can be beneficial for you to take on more work, you do not want to take on more responsibilities without a pay increase to your salary. This all leads to being able to “sell yourself” to the employer. Show the employer that you are not shy and flaunt your skills. You never want to ask for a salary increase without having specific reasons for
Compensation is made of a base salary (paid by the hour, work or the year; excluding overtime or bonuses), variable pay (bonuses, profit sharing/stock options which work hand and hand with the performance of the company), and benefits (to include health insurance/savings plans – 401(k), or tuition reimbursement). The traditional way of determining base pay for jobs was to compare jobs in the same industry. Now industry and market, no long work by themselves, the current thinking is more person-based that considers knowledge, skills, and competencies of the work. This, however, is best suited for high-performing environments that remain flexible in their deployment of human capital.
Interview Techniques: First start with informal and see what I can get out of them by just simply asking questions. When and if I get nowhere or become feeling like I am being lied to or
I found that implementing a pay secrecy policy would be illegal. The NLR says that doing so is an unfair labor practice. You can discourage employees to discuss salary but they do not have to obey. The best thing to do is do your homework and make sure you are offering a competitive salary. You should look at education, experience, and what
The fight between men and women and equal rights and pay has been going on for many years. The wage gap is contributed by many factors like sex, race discrimination, education, but manly overall how men and women have been viewed as. Men are paid more because they work “harder and are stronger” where’s woman’s jobs are “less work and not as strong” therefore, that’s why the pay and the job occupations is different. Over the past century, American women have made tremendous strides in increasing their labor market experience and their skills (The Gender Wage Gap: Extent, Trends, and Explanations). The pay gap goes beyond wages and is even greater when we look at workers’ full compensation packages. Compensation includes not just wages, but also
Diamond, R. (2010). Getting More: How You Can Negotiate to Succeed in Work and Life. New York: Crown Business.
The war in pay inequity in the United States has been raging since the 1940s. This paper is focused on the pay differences among men, women, and mothers and why it exists. The government has made strives to close the income wage gap between men and women, however it still exists and must be dealt with. Among women, deciding to bear children has greatly impacted earnings potential, retirement, and career choices. As more women decide to go to college and earn degrees, there is still a disparity in income in the labor market. Forty percent of the pay gap that exists cannot be explained by occupation, race, or experience.
The first thing that factors in is that women are more likely to work in lower paying jobs including: retail trade, leisure and hospitality. There are not very many women who work in the three jobs with the highest wages: information services, mining and logging, and utilities (“Gender Pay Gap: Recent Trends”). According to the Council of Economic Advisors, “women are also slightly less likely than men to have access to paid leave and, perhaps as a result, are slightly more likely to take leave without pay.” Discrimination is another factor. Women may be influenced which job to choose base on discrimination, and it can cause women to leave their position (“Gender Pay Gap: Recent Trends”). According to the Council of Economic Advisors, there are less women who are receiving science and math degrees even though, in 2013, women earned 57 percent of all bachelor’s degree, 35 percent of which were in science, technology, engineering, and math fields. The level of education does not help the wage gap either, no matter what level of education women have there is still a pay gap (Dishman). The Council of Economic Advisors also says that “in general, women, even highly-educated women, are less likely to negotiate their first job offer than men. But even when women do negotiate, if the norms of negotiation and salary expectations are not transparent, they are likely to receive less than men.” A survey from
For many years in the United States, equal salary pay for women has been a major issue that women have been fighting for decades. This began back in World War II, when the National Labor Board urged equalize the salary rates for women with the same rates that males were getting the same professions. (Rowen) Although, traditionally most women do not work to provide for their family and there are not so many independent women during World War II. After World War II more women lost their jobs to veterans returning to the workforce. Women in the workforce after the war have been discriminated ever since. The idea of women as weak and cannot perform their jobs still embedded in the mind of some men and were not considered equals to their male counterparts. Women need to fight for equal pay because, women in the work force today is dramatically different from women that was working during World War II. (Rowen) Through studies as well, it shows that women are also more educated during 2002 and still was getting paid less than men. Even though in the 1960 's, the Equal Pay act was, in effect, it still did not help benefit women in the long run.
Negotiation, as we’ve learned, is the process of communicating where parties can discuss problems and/or targets and attempt to solve them via dialogue in order to reach a resolution. While many individuals feel successful negotiations are due to a natural skill, the truth behind reaching a prime agreement is preparation. You need to know the issue, know yourself, and know your party. This type of preparation also includes knowing your needs and limits, understanding what the other party wants and anticipating their limits, asking the right questions, and being creative in your counteroffers.
Performance related pay is a financial reward given to employees whose work is considered to have reached a required standard or is above average. “PRP criteria can relate to the individual employee, to work groups or to the organization as a whole” (Armstrong, 2002). It is fair to provide people with financial rewards as a means of paying them according to their contribution (Armstrong 1993:86). The primary purpose of performance related pay in any organization is to recruit, retain and motivate the workforce. It also helps in focusing employees’ minds on particular goals (Protsik, 1966); communicate to employees an organization’s core values, and change the culture of that organization (Kessler and Purcell, 1991).
...s in stone. Rather, I will work towards a beneficial compensation package, if not a pay increase, then perhaps a higher title with concessions. The outcome of this negotiation should leave both sides satisfied. I will also research the department’s policy on compensation as well as reviewing my job description. Both of these are attainable in the Human Resources department. Furthermore, I will check websites that have listing of salaries and job descriptions to make sure my compensation is commensurate with my work. The scholarly article I will use to help plan out my tactics in my negotiation is “Dealcrafting: The Substance of Three-Dimensional Negotiations by David A. Lax, and James K. Sebenius”. This article explains that our understanding of negotiations are one dimensional. However, this new approach for a three dimensional negotiation can work in my favor.
What Salary Are You Seeking? This question is tricky and you should approach your answer with care. It is to your advantage if the manager lets you know the salary range first mapped out for the position. Research more by knowing the going rate in your area, and your primary concern about how much to accept for the position or walk away.
Negotiation is the process enacted by two or more parties, to resolve a difference and ideally create a solution benefiting all involved parties. Negotiation is all about knowledge, strategies, your preferred stance taken in the process, how much concession you can afford to yield, and what your ultimate goal is. Is your goal to take all the share and value of the available resources? Or are you the kind of person/company that is willing to take the extra mile to create equal value for both parties, ultimately adding value to the relationship? The process will always depend on the company, each team players' personality, trust and situation. A good negotiator will study their opponent, gain all knowledge needed and be able to adapt to the nature of the deal in short notice. We use the method of negotiation to solve problems and disputes taking place in business, government, between countries, and even in our day-to-day life, such as marriage and divorce, parenting and family.
Organizations are working hard in today’s world of business, not only to remain competitive, but also to focus on stability and structure. Employees are the backbone of an organization. It is becoming more important to offer quality HRM programs to staff, in order to support the retention of trained and experienced staff. Employees have always been concerned with salary however, there is a new focus emerging that looks at compensation as a whole entity. Monetary wages are now just as important as other benefits such as paid time off, medical and dental offerings and retirement. This paper will discuss the importance of the total compensation program which includes many aspects, not just salary. Attention must be paid to equal pay, pay
Have a realistic interview, and follow all the steps that would have followed in a regular interview. In case of offers from the employer, the candidate should follow up right the way. Finally, interviewers should be asked to evaluate the meeting and give some suggestions. Preparing for an interview is as much important as showing up. Tips to prepare for an interview can be used for any kind of job interview, and must be followed like the interview is real. Stress get into people every time an interview is behind the corner, and a great way to deal with it is to learn as mush as possible about the interview. The applicant should learn bout the job description, experience, and qualification for the position applied. The candidate should prepare some questions in case the employer asks, and practice them. The interview must be approached with positive attitude, which it could improve your performance. Right before the interview, the applicant could talk to a friend or a close person who could boost hi or her motivation. Also, the applicant should look professional, and use a positive body language. Thus, the