What Most Employers Don't Want You to Know When They Talk Salary

Know How Much You're Worth
Well-managed companies conduct regular labor market assessments to determine if their salaries are competitive. They use this information to adjust their established pay ranges for each position. Because payroll is one of the biggest expenses of running a business, they often offer you the lowest salary possible and hope to keep you satisfied.

What they want you to know: That their philosophy is to pay competitively. They want you to feel that your skills and abilities are valued so you will stay and produce good work.

What they don't want you to know: How your own salary compares with the established pay range. Don't assume it's within the range. Generally, if a hiring manager thinks you will be satisfied with a salary below the pay range, he or she will extend the initial offer below that spread. Remember, the employer's first offer is the beginning of your negotiation discussion, not the end of it.

Consult these Web sites for more information on salaries and ranges:

• www.salary.com
• www.salaryexpert.com
• www.ecomponline.com
• Always ask for more than the initial offer, even if it's only $2,000 or $3,000 more. Why? Simply because you won't get more without asking. Even if you get a "No" it's not a complete loss. You have communicated that you highly value yourself and the contributions you offer the company. This will send the company the signal to value you as well.
• Think Beyond Salary For Take Home Pay
  In addition to salary, companies usually have an annual merit increases and some offer a bonus or commissions, depending upon the position. Every company handles these plans differently so make sure to ask questions.
• What they want you to know: That performing is key to keeping your job, as well as getting any kind of increase in take home pay. Therefore, your performance will be evaluated regularly, usually annually, resulting in a possible merit increase. Higher level positions may be offered bonuses for certain business results. A sales position is often rewarded in commissions and/or performance bonuses. Good companies will tell you upfront how your performance will be measured so you can be sure to satisfy.
• What they don't want you to know: Well managed companies may tell you a possible merit increase range, but they are reluctant to promise you any specific merit increase, mainly because they don't know how you will perform and because what the company has to give can change year to year.
• Find out what the review process is, how performance is measured and rewarded, and what percentage increases have been given in the past two to three years. Can you get reviewed earlier for a mid-year increase if your initial salary isn't as high as you'd like? You won't know unless you ask!
• They also don't want you to know if anyone else in a similar role or in your future work group has received a signing bonus or better commission plan. They consider this private information between the employer and the employee, which it is. However, it also helps them not give you additional money to come work for them.
• Simply ask if the company has a signing bonus, performance bonus, or commission plan and how it's constructed. A good guideline is that if there is a high demand for your position, you should ask for a signing bonus. How much? At least $10,000, in my opinion. That means you're serious about what you are bringing to the company and that you will perform. If they are hesitant, suggest a performance bonus or increased commission percentage based upon your first six months, for example.
• Benefits Are Like Money In Your Pocket
  Companies pay as much as another third of your salary to provide you benefits. Consider them carefully and in detail as you evaluate your entire compensation package. There are the basic benefits, such as health insurance, sick leave, and vacation. Plus, often there are additional perks, such as child care and 401k plans with matching contributions.
• What they want you to know: That they offer competitive benefits for you and your family's well-being. That they offer such tools as health information via websites, employee assistance programs, and nurse hotlines 24 hours a day for you to use.
• What they don't want you to know: Is that the benefits they offer may require a contribution from your paycheck and that they may change from year to year, usually not in your favor. Read the plans carefully and make the best decision based on your needs. Review these each year.
• They also don't want you to know that you might be able to negotiate other benefits that aren't named, such as paid tuition, company car, health club membership, or additional time off. If these are important to you, ask for them! You might just get something additional that will sweeten the deal.
• Finding and getting a new job can be an exciting new chapter in your career. It can also be nerve-wracking. Make the negotiation for your total compensation work for you by being prepared with information and in mindset. Know your worth. Know what you want. Focus on appearing and being confident. Keep reminding yourself that you can and will perform for the company. Lastly, get the agreement in writing. Follow these tips and you'll do just fine!
• Mary Foley, author of "Bodacious! Career: Outrageous Success for Working Women," inspires people to take charge of their lives and grow their careers and business. To find out more, check out www.new-job-search.com.