If you\u2019re looking for a new job, there\u2019s probably one big question on your mind: What\u2019s my salary going to be?<\/p>\n
\u201cEven when the money on offer is enough to live on, you need to figure out if it\u2019s an amount worthy of your knowledge and skills and whether it\u2019s in line with the local market. Look at the financial package on the whole,\u201d said Rebecca Knight, an author for the Harvard Business Review.<\/p>\n
You need to know your worth relative to the context of the job, so that you can have an idea of whether the salary offered is fair, and also have a better sense of what leverage you can use in a negotiation, says Glassdoor.<\/p>\n
The recruitment specialist<\/a> has put together a list of examples of how you can suss out your next salary package.<\/p>\n 1. Do your online research<\/strong><\/p>\n First, you need to get a sense of what people in your same position would make. This is not only limited to the same type of position \u2013 \u201coffice manager\u201d, for example \u2013 but also your location.<\/p>\n Someone who\u2019s been an office manager for 10 years is more likely to land a higher salary than someone who\u2019s just becoming an office manager this year.<\/p>\n Then drill down by comparing the average compensation with your market worth. Once you have a ballpark for your market worth, you\u2019ll be able to compare that with what the average salary for the position you\u2019re vying for is.<\/p>\n 2. Do your in-person research<\/strong><\/p>\n On top of what the internet can tell you, it\u2019s also important to get as full a picture as possible by talking to people within the and in the industry. There may be specific factors at play that lead to a company offering a certain salary that you weren\u2019t expecting.<\/p>\n Reaching out to people through your professional network or over social media can help you get more insight into whether you think the salary a company is offering is fair or not.<\/p>\n 3. Decide if you\u2019ll negotiate<\/strong><\/p>\n If your market worth is higher than the salary you\u2019re being offered (or even if it\u2019s not higher!), this might be a time to consider negotiating. Knowing the general range of salaries for people in your position will give you leverage in your negotiation.<\/p>\n But also keep in mind that the market worth you\u2019ve calculated for yourself might not factor in the overall benefits package they\u2019re offering. It also might depend on the size of the company or how long it\u2019s been established for.<\/p>\n The bottom line is that you should be able to explain why you deserve a pay increase. Come prepared with the research and the right questions, and be confident.<\/p>\n 4. Think about what other benefits matter to you<\/strong><\/p>\n At the end of the day, salary is certainly an important factor in why we choose a job. But it\u2019s one factor among many. There are also many other reasons why we might take a job \u2013 personal fulfillment, a great location, ideal work-life balance, opportunities for future advancement, just to name a few.<\/p>\n Think about the benefits outside of salary that you\u2019ll get, too, when you\u2019re making your ultimate valuation of a job.<\/p>\n There are many forms of variable compensation from cash bonuses and tips to commissions and equity that could influence your base salary. In addition, some companies offer comprehensive benefits, including medical and dental benefits, paid time off, commuter subsidies and more. These are all important considerations in negotiating.<\/p>\n 5. Ask and let the company reveal<\/strong><\/p>\n One of the biggest mistakes we make as job seekers and employees is not asking direct questions to the hiring manager or HR person. Be confident and ask for the salary range for a position or role. According to a 2016 Glassdoor site survey, the #1 piece of information job seekers want employers to provide as they research where to work is salary\/compensation. Recruiters know this and they expect the question.<\/p>\n If you\u2019re job hunting, remember one of the most important rules of thumb to salary negotiations: you do not have to tell employers what you are or were earning at your previous company.<\/p>\n Let the employer make the first offer, then you can follow it up with a higher number, and further showcase why you not only deserve to be hired but that you deserved to be hired at a better pay rate because of the value you are bringing to their team.<\/p>\n Remember, the most important way to figure out your salary in your next job is to be equipped with as much information as possible. Recruiters and hiring managers appreciate and respect informed candidates, plus those with information are better equipped to make better decisions to find a job and company to fit their lives.<\/p>\n The full article can be found at Glassdoor, here<\/a>.<\/em><\/p>\n
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