Salary Savvy
I got the chance to speak with Jill Geimer, Vice President of Career Development Services and Human Resources for Flashpoint Academy She has an MA in Community Counseling, an MS in Industrial Relations and a passion for helping people achieve their fullest. So let’s begin:
Q. How specific should you get when you are asked your compensation? I always give a ballpark figure but yet other people are specific. Is there a right answer? And, does that right answer include bonus/stock options or is it straight salary?
A. The answer to this question depends on what your situation is. If you have recently been among the millions of American workers suddenly laid off and you find yourself in a difficult employment situation in an awful economy (in other words, you really need this job!), then a good answer is, “My salary is negotiable and I am taking into account the total package, such as the company, commute, benefits, and future growth.” This will keep you from pricing yourself out of the job. The best situation is always to get the employer to throw out the first number so you have the opportunity to respond with either a reasonable salary counter-offer or to think about how you can add benefits, bonus, stock options, time-off, etc. to the package to close the deal AND make the offer more “whole” for you.
However, if you are in a position of strength to negotiate, then you can give them a salary range that you think would be make it worth the risk of leaving your current job and incent you to take the risk of starting a new role at a new company. When you name the salary range, also mention “In addition to salary range, I hope to look at the benefits package, too.” This will allow you the opportunity later to discuss benefits that are important to you such as paid time off, health insurance, bonus, stock, etc.
Negotiating Benefits – Hot Tip!
Most important, get the job offer first! There is no point in negotiating until the company has decided that you are the best candidate for the job and they really want you! Otherwise, you will stack the deck against you when other strong candidates come in and have not asked about benefits yet. Get the job offer first before the negotiations begin!
Human Resources Headache Alert!
Keep in mind when negotiating for benefits that a company with a 401(k) group plan cannot make your employer match any different from the rest of the company. Candidates who try to negotiate impossible things such as, “Hey, can you make the company match on the 401(k) a higher amount as part of my employment offer?” cause human resources executives to roll their eyes and bite their tongues. And, do not be mistaken! Many, many candidates have had a job offer “rescinded” because their negotiating tactics or salary package requests led the employer to determine that he/she is not committed to the position or is not the type of personality that would be a team player. Employers can change their mind during the offer conversations. Make sure that your negotiating is reasonable and that your tone and demeanor are professional and “likeable.”
