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I require a raise 25% of my current base salary to even look at new positions. I am fairly happy with my employer now that I looked around. I'm underpaid but I have a lot more freedom than i would with other employers in my current position.
Don't talk about your past job or what the typical market rate is. Talk instead about why you can do for them.
Talk to them about what you can either do to a) Increase their revenue or b) make them more efficient, thereby increasing their net.
That's pretty much it.
THIS IS THE KEY! .... whether one is negotiating a salary for a new job ... or an increase for an existing job. It also helps to do your homework and know what the competitive salary range for the position is.
Most importantly, talk with someone with the authority to make a decision and even adjust your 'job title.'
That is rarely, if ever, HR!
THIS IS THE KEY! .... whether one is negotiating a salary for a new job ... or an increase for an existing job. It also helps to do your homework and know what the competitive salary range for the position is.
Most importantly, talk with someone with the authority to make a decision and even adjust your 'job title.'
That is rarely, if ever, HR!
It is, whether you're interviewing for a job or bargaining for a raise. When I had my business, I was always amazed at the people who just strolled in expecting more than a COLA, despite not being efficient in their work and totally lacking bottom line awareness.
At the same time, I had a junior staffer who had a knack for taking her accounts and really getting them to do a lot more. And she ran those same accounts very profitably. So when it came to mete out the bonuses and raises, she was very happy with what she got. Why? Because she performed.
Here's the thing. There are those bitter pills who blame management for not recognizing their genius and not rewarding them accordingly. Yet they never actually devote the time to making the case. They never have any idea how they perform their job affects the bottom line for good or ill. While the boss of a company might have a decent idea who his/her better performers are, they also have a lot of employees to think about, which means they aren't likely thinking of you in more than a cursory way when it comes to review time. Only you can toot your own horn.
This is one of the most important negotiations in our life.
1. I'd like to hear the initial salary and what you said to increase it.
2. What percent did you increase it by?
3. What was the average in the market? Did you get higher?
1. Initial salary was $125,000, plus $25,000 per year in bonuses (if I did my job properly, basically). I know that most Operations Execs make roughly $130,000-$180,000 with a $50,000 per year bonus (over 4 quarters, etc). I counter stating I am aware that while I am young, I also know what an Ops Exec makes, and expect to be compensated accordingly. I proceeded to state that they approached me about the promotion, so they should compensate accordingly. They countered with $150,000 and increased the bonus structure.
2. 20%, but I wasn't really looking at a percentage.
3. Mine is about average. Considering I'm 24 and have been in the industry a little over three years, I'm fine with that.
I have a retired friend who competed successfully for 40-years in high-paying, college-level jobs ... with only a high school education. He said that he felt like "he always had to sell himself and his results" AND "find or create value-added results in areas nobody else thought about."
IMO, far to many employees believe that the objective is only to "GET the job and raises" ... instead of "DO the job at an excellent level." Perhaps this attitude grows out of the 'entitlement mentality' that seems so pervasive in our society today.
You'll notice I had all of the power in the negotiation, that's because I really didn't mind if I got the job or not. Whoever says an amount first loses.
I would have thrown you out of my office. That's how much power you would have had at my place. We check hat-size among the very first things.
1. Initial salary was $125,000, plus $25,000 per year in bonuses (if I did my job properly, basically). I know that most Operations Execs make roughly $130,000-$180,000 with a $50,000 per year bonus (over 4 quarters, etc). I counter stating I am aware that while I am young, I also know what an Ops Exec makes, and expect to be compensated accordingly. I proceeded to state that they approached me about the promotion, so they should compensate accordingly. They countered with $150,000 and increased the bonus structure.
2. 20%, but I wasn't really looking at a percentage.
3. Mine is about average. Considering I'm 24 and have been in the industry a little over three years, I'm fine with that.
If you're telling the truth, then that is really impressive. My first job out of school didn't come with any negotiations.
I started out at $11.10/hour. Had to cut grass and toss news papers while making that.
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