Amazines Free Article Archive
www.amazines.com - Saturday, April 20, 2019
Read about the most recent changes and happenings at Amazines.com
Log into your account or register as a new author. Start submitting your articles right now!
Search our database for articles.
Subscribe to receive articles emailed straight to your email account. You may choose multiple categories.
View our newest articles submitted by our authors.
View our most top rated articles rated by our visitors.
* Please note that this is NOT the ARTICLE manager
Add a new EZINE, or manage your EZINE submission.
Add fresh, free web content to your site such as newest articles, web tools, and quotes with a single piece of code!
Home What's New? Submit/Manage Articles Latest Posts Top Rated Article Search
Google
Subscriptions Manage Ezines
CATEGORIES
 Article Archive
 Advertising (133290)
 Advice (160812)
 Affiliate Programs (34733)
 Art and Culture (73675)
 Automotive (145638)
 Blogs (75015)
 Boating (9841)
 Books (17130)
 Buddhism (4124)
 Business (1328248)
 Business News (426309)
 Business Opportunities (366255)
 Camping (10952)
 Career (72759)
 Christianity (15839)
 Collecting (11636)
 Communication (115053)
 Computers (241935)
 Construction (38991)
 Consumer (49675)
 Cooking (17060)
 Copywriting (6567)
 Crafts (18206)
 Cuisine (7538)
 Current Affairs (20379)
 Dating (45775)
 EBooks (19684)
 E-Commerce (48193)
 Education (185181)
 Electronics (83490)
 Email (6389)
 Entertainment (159817)
 Environment (28932)
 Ezine (3038)
 Ezine Publishing (5443)
 Ezine Sites (1553)
 Family & Parenting (110895)
 Fashion & Cosmetics (196382)
 Female Entrepreneurs (11842)
 Feng Shui (130)
 Finance & Investment (310255)
 Fitness (105901)
 Food & Beverages (62845)
 Free Web Resources (7937)
 Gambling (30213)
 Gardening (25076)
 Government (10512)
 Health (629233)
 Hinduism (2206)
 Hobbies (44030)
 Home Business (91543)
 Home Improvement (251316)
 Home Repair (46116)
 Humor (4814)
 Import - Export (5449)
 Insurance (45116)
 Interior Design (29544)
 International Property (3485)
 Internet (190964)
 Internet Marketing (146300)
 Investment (22824)
 Islam (1168)
 Judaism (1357)
 Law (80458)
 Link Popularity (4592)
 Manufacturing (20839)
 Marketing (98753)
 MLM (14136)
 Motivation (18211)
 Music (26998)
 New to the Internet (9476)
 Non-Profit Organizations (4048)
 Online Shopping (129607)
 Organizing (7801)
 Party Ideas (11856)
 Pets (38083)
 Poetry (2234)
 Press Release (12670)
 Public Speaking (5620)
 Publishing (7522)
 Quotes (2407)
 Real Estate (126609)
 Recreation & Leisure (95239)
 Relationships (87446)
 Research (16156)
 Sales (80313)
 Science & Technology (110154)
 Search Engines (23445)
 Self Improvement (153089)
 Seniors (6227)
 Sexuality (35942)
 Small Business (49282)
 Software (82953)
 Spiritual (23461)
 Sports (116071)
 Tax (7658)
 Telecommuting (34064)
 Travel & Tourism (307146)
 UK Property Investment (3118)
 Video Games (13422)
 Web Traffic (11724)
 Website Design (56802)
 Website Promotion (36556)
 World News (1000+)
 Writing (35761)
Author Spotlight
SWATI SHARMA

To provide Visa services from India Working At Aptech Visa global immigration Pvt Ltd. Company is g...more
ALFRED MEARS

Former English Teacher; Musician (20+ years); Freelance Writer ...more
FORD MYERS

Ford R. Myers is an award-winning career coach and President of Career Potential, LLC. He is author ...more
SHOVON JOARDER

Shovon Joarder has been working as Freelance Marketing Project Manager for over four years. He also ...more
ALEN OWEN

I am an essay writer with vast experience in data analysis, PowerPoint writing and research paper ed...more


Your Compensation Negotiation Strategy by Ford Myers






Your Compensation Negotiation Strategy by
Article Posted: 10/29/2015
Article Views: 585
Articles Written: 52
Word Count: 1215
Article Votes: 0
AddThis Social Bookmark Button

Your Compensation Negotiation Strategy


 
Career,Business Opportunities
Back in September of 2012, I published an article in this e-newsletter titled, "Salary Negotiation: 21 Rules of the Game." The piece provided specific tips and techniques for increasing your salary offers.

In this article, we're going to "step back" and take a broader view of the salary issue. To really maximize your success in negotiating compensation, it’s important to have a "big picture perspective" and approach the process strategically.

To start with, your strategy needs to be based on knowing EXACTLY what you WANT out of the negotiation, vs. what you NEED. Most people don’t know the difference, which gets them into a lot of trouble. So, let’s look at a sample "side-by-side" comparison:

Need Maintain your current standard of living; not lose your home or skip the annual family vacation, etc. $70,000 Base 2 Weeks Vacation Benefits in 3 Months Management Role Paid Transportation or Car Allowance Decent Workspace Severance Pay Want Make your family’s life much more comfortable; make a real step-up in lifestyle, etc. $90,000 Base 4 Weeks Vacation Benefits Now Director Title Company Car Private Office Outplacement

The bottom line is that you need to know in advance what you’re willing to trade, and what you’re not! Make your own list BEFORE you enter into negotiations!

--------------------------

Now, you might be asking yourself, "What’s negotiable, and what’s not?" The answer might surprise you!

* SALARY (always finalize first!) * Insurance (life, medical, dental, disability) * Vacation Time * Office Location * Retirement Plans * Relocation Assistance * Training Allowances * Work Space * Bonuses (sign-on and performance) * Commission Rates * Expense Accounts * Memberships and Dues * Accelerated Reviews * Stock Options * Profit Sharing * Company Car or Auto Allowance * Home Purchase or Mortgage Assistance * Outplacement Assistance * Flex-Time * Etc., Etc., Etc.

The employer will give you anything you ask for – IF they want you badly enough. And it’s YOUR job to sell yourself so effectively that they decide they MUST have you!

Now, let’s discuss the REAL value of an offer.

When an offer is extended to you, it’s very important that you know what the offer really is – and what it isn’t. Many people make poor decisions about job offers, because they misunderstand the package! So, let’s take look at a simple example:

Let’s say you’ve just received an offer for a base salary of $50,000. But you’re used to earning a base of, say, $70,000 – with little or no benefits. So you say, "I’m not taking that job. The pay is too low." But did you take the time to analyze the whole package? Take a look at the chart below:

Base Salary - $50,000 Health Plan - $17,500 Vacation - $$$ Retirement Plan - $$$ Training & Development - $$$ Auto Allowance - $$$ Bonus - $$$ Commission (at plan) - $12,500 Etc. - $7,500 TOTAL COMP - $87,500 to $100,000++

Can you see now, that you might have been foolish to turn down this offer based purely on the base salary?

--------------------------

Another mistake that many people make when they’re negotiating compensation is that they tie their old salary to their new or anticipated salary. This can be deadly.

The assumptions go something like this:

– "I’m out of work, so I’ll be lucky to get any job that pays what I was earning before – or even close to my old salary” AND – "The job market is tougher than it was when I got my last job, so I’ll have to settle for a lower salary" AND – "If I can get a good job paying even 5% more than before, I’ll be thrilled!"

Now, what do all these comments have in common? They are all based on the assumption that the OLD salary is somehow connected to the NEW or anticipated salary. But – IT’S NOT!

That’s right. There is NO CONNECTION; no relationship of any kind!

How can I make such a bold statement? Because I have worked with so many clients who have successfully added 25, 50 even 100% to their salaries by switching to jobs that were a MUCH BETTER FIT!

At your old job, a $50,000 salary may have been appropriate for the VALUE you brought to your employer, at least in their eyes. But what if you got a different job where the FIT was much better? With a new company, at a different time, offering a different product or service, in a different business culture and environment, in a new industry, and so on? What then?

Let me illustrate by sharing a brief story …

A client I worked with recently named Robert had been working at a software development firm, with a salary of about $70,000. He was dissatisfied with his compensation and was looking around for a better opportunity. He did a lot of networking, pursued a very active job search, and eventually got an interview with a wonderful company right in his area. He found out that their specific needs, goals and challenges almost directly mirrored his specific skills and accomplishments. This turned into a very interesting interview, which lasted not ½ hour; not 1 hour; but 2½ hours! By the end of the interview, Robert knew he was onto something! They agreed to meet again the following morning. By the time Robert got to the second meeting, the interviewer had already drawn-up an agreement and was practically begging Robert to join the organization. Why? Again, because his skills, accomplishments and achievements directly matched the employer’s greatest needs, problems and challenges. Not only that, but the salary the employer was offering almost knocked Robert right off his chair. It was twice the amount he was used to earning! That’s right. A base salary of $140,000. Not a bad payday for Robert!

--------------------------

"Fit" is a very small word – only three letters – but I want you to know that it’s the BIGGEST word in the entire salary negotiation game! Why? Because, as I indicated above, you will be paid according to how well your contributions fit the needs of your new employer. Find a perfect fit, where the need is greatest, and you’ll be paid that much more!

So, let’s discuss this word "Fit" for a moment. What constitutes "fit" in a new job? Here are just a few of the relevant criteria:

* Compensation * Location * Industry * Product or Service * Headquarters or Remote * Size or Revenues * Reputation or Prestige * Pace * Formal or Informal * People and Relationships * Physical Environment * Culture * Values and Mission * Etc., Etc., Etc.

So, as you can see, "fit" is a small word of MAJOR importance to your negotiations.

In conclusion, it is vital that you know your priorities and have a well thought-out strategic plan BEFORE you begin the negotiation phase of your job search. This will make all the difference in how you experience the interview process and how much compensation you will ultimately get!

Copyright © 2015, Career Potential, LLC. Reprinted by permission of Ford R. Myers, a nationally-known Career Expert and author of "Get The Job You Want, Even When No One’s Hiring." Download your free career success gifts now at http://www.careerbookbonuses.com.

Related Articles - compensation, negotiation, interview,







Email this Article to a Friend!

Receive Articles like this one direct to your email box!
Subscribe for free today!

 Rate This Article  
Completely useless, should be removed from directory.
Minimal useful information.
Decent and informative.
Great article, very informative and helpful.
A 'Must Read'.

 

Do you Agree or Disagree? Have a Comment? POST IT!

 Reader Opinions 
Submit your comments and they will be posted here.
Make this comment or to the Author only:
Name:
Email:
*Your email will NOT be posted. This is for administrative purposes only.
Comments: *Your Comments WILL be posted to the AUTHOR ONLY if you select PRIVATE and to this PUBLIC PAGE if you select PUBLIC, so write accordingly.
 
Please enter the code in the image:



 Author Login 
LOGIN
Register for Author Account

 

Advertiser Login

 

ADVERTISE HERE NOW!
   Limited Time $60 Offer!
   90  Days-1.5 Million Views  

 

Great Paranormal Romance

World News


STEPHEN BYE

Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through The...more
GENE MYERS

Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
LAURA JEEVES

At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
TREENA MURPHY

Warm greetings to you!! Hello there, my name is Treena (Smiley) Murphy I am a part time blogge...more
SUSAN FRIESEN

Susan Friesen, founder of the award-winning web development and digital marketing firm eVision Media...more
LUMINHOME LIGHTING

About Us Luminhome Lighting provide one-stop services in lighting design and manufacture of LED lum...more
KIRAN KAUR

Kiranpreet (Kiran) Kaur, D.D.S., who received her Doctor of Dental Surgery degree from the prestigio...more
MICHAEL BRESCIANI

Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
PAUL AZORIN

Paul Azorin Chief Technology Officer at BairesDev Pablo Azorín is the Founder and Chief Techno...more
STEVERT MCKENZIE

Stevert Mckenzie, Travel Enthusiast. ...more

HomeLinksAbout UsContact UsTerms of UsePrivacy PolicyFAQResources
Copyright © 2019, All rights reserved.
Some pages may contain portions of text relating to certain topics obtained from wikipedia.org under the GNU FDL license