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Blog Post: Salary Negotiation...It's About Your Value


posted Saturday, August 11, 2007 6:58 PM

Asking for money has to be the hardest and most uncomfortable subject to broach. Families who come from wealth consider the subject taboo and won’t discuss it. When I first began my business, invoices aged over 90 days because I was embarrassed asking for monies due me. Just like me, you have to get over it and begin asking for and earning what you are worth. How do you begin?  

 

  • Understand your own financial position. How much do you need to break – even each month? Take a look at all of your expenses monthly/yearly such as mortgage/rent, car payment, home/car insurance, utilities (gas, electric, water, cable, telephone/cell phone), grocery, gym memberships, subscriptions and entertainment. Write everything down you can think of and then add them up. This would be the amount minimally you would need to make each month. There is nothing more dissatisfying than working at a $10 an hour job when you really needed $20 an hour.    
  • Research what jobs in the industry you are applying or currently in are paying. There are several websites that can aid you in your research, the site I prefer using is www.salary.com . Salary.com allows you to enter job categories by zip code so that you can see what different cities, counties, states are paying for similar jobs. You can also create your personal salary report based on your skills and experience.    
  • Perform an inventory and assessment of your skills and experience. Determine what gaps may exist between where you are and where you need to be. Is it education, certification, relationship management skills or amount of time in a position that’s the barrier? Prepare a plan for how you are going to decrease the disparity and increase the odds for obtaining your desired salary. 
  • Create a portfolio of your accomplishments, projects you have led or participated, certificates, positions held, professional memberships and certifications. Write a summary next to each entry explaining what each entry gained you in experience and skill, what benefits it brought the company and how the company’s bottom line was positively impacted. 

    Once you've gathered all of your information you are equipped to go into your negotiation. Remember negotiation is not personal, it’s business and solely about your contributions and expanding your lifestyle. Internalize and repeat the following to yourself:

  • I deserve more.
  • It doesn’t matter what others think.
  • I am worthy of more.
  • I can have the lifestyle I want and deserve.     

    In an interview setting never talk about salary until the potential employer makes an offer. If the employer happens to ask you during the interview, “what’s your desired salary?” never provide a number, say your acceptable salary would be at the mid – range. In negotiations you have to be ready to put a stake in the ground and possibly walk away. Don’t be afraid to walk if the offer is not what you expected. I was once offered a job for $700/week. I turned it down and the company counter – offered for $1000, an increase of $15,600/year. Totally worth it and so are you. 

    If you do not negotiate—if you do not ask for what you want—then the answer will always be no. So whether your aim is a new job, a raise, or a promotion follow these guidelines to get your best offer.   

    Be prepared, relax and Go Jobing! 

    For more information Phoenix Business Development Group is available to you at www.phoenixbdg.com or by calling us at 888.821.0611| T

     


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    Tonya Haynes

     

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    25 years corporate and executive level experience prepared me for pursuing my passion for executing seamless process flows, eliminating barriers and silos between organizations and teaching the art of strategic talent management.
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