DO YOUR RE­SEARCH

Finweek English Edition - - MANAGEMENT -

Em­ploy­ers set salaries based on what they cur­rently pay peo­ple to f ill sim­i­lar roles and what they be­lieve com­peti­tors are paying.

They may also have a cer­tain bud­get or a pre­de­ter­mined range. In­for­ma­tion is power in ne­go­ti­a­tion, so the more you know about th­ese data points the bet­ter.

Do some sleuthing. Search web­sites

such as salary.com, vault.com and pays­cale.com to gather in­for­ma­tion about the or­gan­i­sa­tion and what it pays. Use Face­book and LinkedIn to reach out to peo­ple who might know what an ap­pro­pri­ate salary is. Maybe it’s some­one you trust in­side the or­gan­i­sa­tion, a ca­reer ad­viser, a search con­sul­tant or con­tacts in the same in­dus­try.

It may be un­com­fort­able to ask di­rectly how much your friends in sim­i­lar po­si­tions (or near strangers) make. In­stead you can say: “What do you think the or­gan­i­sa­tion would pay for this po­si­tion?” Then com­pare the ad­vice you get. Don’t rely on one piece of data or one type of source.

Use that in­for­ma­tion to set your own ex­pec­ta­tions and those of the hir­ing man­ager. A good re­cruiter will ask if you have any base salary re­quire­ment. If asked, an­swer t he ques­tion hon­estly. The em­ployer needs to know that you’re in the range they’re hop­ing to pay so they don’t waste their time or yours. If you’re the top can­di­date, most em­ploy­ers are will­ing to do what they can to make the num­bers work.

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