Salary Negotiation – Know Your Market Value When Accepting a Position
There are few things worse than starting a job only to learn that your peers are making $10,000 to $15,000 more than you are. What happened? Assuming your education and professional experience are equal to your peers, then we have to backup job reviews Singapore to the interview phase. During the interview, did you adequately convey your value to the company? Did you convey your expertise and help the hiring team see how you were going to make a significant difference? If not, then maybe you are being offered a lower salary while the jury is still out on your performance. Many companies anticipate you will negotiate their offer and start with a salary at the low end of the salary range. Some companies think they are extending a fair offer without verifying current market rates. The bottom line is that once you accept a position for less than market, it is an uphill battle to get back on track.
The resume and the interview is where you should begin laying the groundwork for your value. These are two venues to highlight your expertise and how your accomplishments have pushed the company forward. As an example, your $200,000 quarterly sales of peanut better netted the company $165,000 annually and helped propel your region from #6 in the marketplace to #3. Crystal clear, quantifiable career stories provide concrete example of expected future behaviors.
Doing a good job highlighting your value in the resume and in the job interview is critical. You should also salary history. However, your past salary may not be reliable because:
You are changing industries
You were previously overpaid
You were previously underpaid
You are in an expanding market
You are in a shrinking market
You are changing regions, such as moving from Phoenix to Boston
The new position requires additional responsibility or
The new position requires less responsibility
Before you go into an interview you will want to carefully review the job description, both to help frame the interview and to understand the market value for the position. One helpful website to verify if your salary expectations are in lin
A recent key word search for “Business Analyst” in zip code 75201 (Dallas, Texas) pulled up 25 varieties of business analysts on the first page. Narrowing the search to “Financial Analyst” provided four grades. A quick review of each job description provided a desired match at level III. The salary ranges are shown in a bell-curve format. The bell-curve diagram divides the base salary range into quadrants, from low to high. At the 25% mark the base salary for Financial Analyst III is $63,400 and at the 75% mark the salary is $78,600, with a median base salary of $71,000.
An average bonus for this position, as well as the value of ex