Negotiate SalaryHow to ask for a raise and get the salary you deserve
There is no arguing about it. One clear indication of a top-caliber expertise is a good salary. Yet, there are many people who are masters in their trade or calling who receive mediocre pay compared with others in their line of employment. A great number of employees, as a matter of fact, generally believe that they are not getting the amount of remuneration that is commensurate to their abilities. This prevailing feeling is often rooted on the ways by which the employees negotiate salary with employers. Hiring, especially in big companies, is already a structured process wherein an employer has the upper hand in negotiating the pay employees receive.
An entire human resources or personnel department is usually on hand to screen applicants for a job position. This company unit has the wherewithal in selecting the best applicant in terms of qualification but also on the manpower cost entailed in hiring new recruit. Qualified job candidates who ask for lesser compensation usually come out as the top picks for a vacant position. This is wont to happen especially nowadays when the labor market is tight; there are few vacancies available while there is a surfeit of job applicants following the massive layoffs as a result of the economic recession. The companies definitely now have an edge as they negotiate salary with prospective workers or employees.
Nevertheless, there are still proven strategies by which an employee can have a fair deal in salary negotiations. For entry level positions, for instance, it is wise for job applicants to determine exactly the functions of the positions they are applying for. These functions are indicators of the amount of pay justly due for a successful job candidate. Knowing this information in advance will enable an applicant to check the prevailing salary rates in for such functions. There are many industry or business surveys which detail pay rates for particular areas of expertise. Another good source of information which can be used to negotiate salary is the database of government labor bodies such as the Bureau of Labor Statistics. The useful data that can be gathered from these sources are immense, covering not only the salary scales of various professions but also the job qualifications which are in most demand.
Some research on the pay structure of the company one is applying for could also be undertaken to be able to negotiate salary wisely. An examination of a company`s compensation structure, however, could be difficult as individual salary levels are often confidential matters that cannot be gathered easily. Employees are also less open about how much they are receiving, even to their relatives and friends. Obviously, there is a need to employ some proven strategies to acquire not only such specific information but also how to best employ the data for salary negotiations. Follow the link below to an e-book called "The Ultimate Guide to Salary Increase" which has established itself as a valuable tool for negotiating not only pay adjustments but also in determining the compensation levels right and just in your employment.