Ahhh... that ever-popular topic -- salary
negotiation -- has come home to roost in QuintZine
once again. This time, we bring you an
information-packed article on salary-negotiation
techniques, including the counter-proposal letter.
More than 125 visitors have taken our International
Job-Seeker's Quiz so far, so we thought you'd also
enjoy our new Salary Negotiation, Compensation,
and Job Offer Quiz. Like several of our quizzes, it's
semi-interactive, meaning you'll receive correct
responses via e-mail.
Job Offer Too Low? Use These Key Salary
Negotiation Techniques to Write a Counter Proposal Letter
by Randall S. Hansen, Ph.D.
Here's an ideal scenario: After a grueling number of
job interviews with a prospective employer who is
hiring someone for the job of your dreams, you're
again meeting with the hiring manager when she turns
to face you and gives you the job offer, but at a
salary below what you had expected. You are still
excited, elated actually, but what you do next could
have consequences for years to come.
Even if the job offer is acceptable to you, most career
experts agree that you should take the time to clear
your head and consider the
offer -- away from the
pressure of an interview. So, make sure to thank
the interviewer for the job offer and express your
interest in the job and the company, but ask for
some time to consider all the details.
But what if the offer is unacceptable to you? If it
really is one of your dream jobs -- or even simply
a job you really want -- you should consider moving
into the negotiation phase by making a counter proposal
to the employer. That's what this article is all about -- taking you through the key negotiation
strategies you should apply and providing you with one
key tool -- the counter proposal letter -- as a means to
negotiating a better offer for yourself.
If your school, organization, business or other
entity has a Web site, we welcome you to link to Quintessential Careers.
If you already have a link from your site, we want you to know we
appreciate it. If you don't have a link to us, please
send a request to your site's Webmaster to establish a
link to Quintessential Careers. Thanks so much!
For more details (including sample HTML copy), see our
Link to Us page.
Special Feature: Salary Negotiation Quiz
Salary Negotiation, Compensation, and Job Offer Quiz
by Randall S. Hansen, Ph.D.
Are you currently interviewing with companies --
or planning to in the near future? Do you feel confident
that you can negotiate the best job offer -- the best
compensation package -- from prospective employers?
Take this quiz and test your salary negotiation readiness:
SalaryExpert.com is a leading provider of online
compensation data, serving both individual employees
and HR/compensation professionals.
The site's SalaryExpert Module is found on many leading
Web sites including: Economist.com, NYTimes.com, and
CareerJournal.com.
Although some of the site's tools are fee-based, SalaryExpert
offers free US/Canadian and International salary reports for free
for a wide range of occupations and geographic areas.
Links to helpful articles and an Ask the Salary Expert
feature also are offered.
Instantly email your resume to 1000s of recruiters,
headhunters, and direct hiring companies! With the most
comprehensive and targeted network of recruiters on the
net, you can rest assured you have taken the steps
necessary to jump start your search. We are so sure
you will be happy that we guarantee our service!
aTeacherJobSearch.com --
a great career and job resources site for job-seekers interested in teaching positions -- from
new teacher graduates to experienced teachers. Includes career advice as well as links to job
fairs, job hotlines, and state Websites. Free to job-seekers.
EcoEmploy.com
-- where job-seekers can find information and resources on environmental jobs and careers.
Includes some job listings as well as a great directory of environmental-related job sites within
the U.S. and Canada. Also includes career links and resources. Free to job-seekers.
Entree Job Bank
-- for job-seekers in the restaurant and the hospitality industries
(including restaurants, hotels, motels, country clubs, casinos, cruise lines), where you can
search for jobs, post your resume, and send your resume to potential employers. Free to job-seekers.
JobsInLogistics.com -- for job-seekers
searching for jobs in logistics, supply chain management, warehousing, transportation, inventory
management, and distribution. Job-seekers can post your resume and search for jobs (by category, job type,
location, compensation, and keyword). Free to job-seekers.
Find even more career and job site additions to Quintessential Careers by visiting our
Latest
Additions section.
Ad: Last Chance to Take Advantage of
Our 2nd Anniversary Resume Specials
Now though June 30, 2002: $10 off an e-mailable, electronic resume package
It is now vital that job-seekers have an e-mailable, electronic resume package!
More than 80 percent of employers are now placing resumes directly into searchable databases and an
equal percentage of employers prefer to receive resumes by e-mail.
Read more about why this package is vital.
The format that career experts currently recommend for sending your job-search material consists of:
A formatted, "print" resume in document form sent as an attachment to an e-mail message to the employer.
A text-based e-resume stripped of most formatting and pasted directly into the same e-mail message into
which your print resume is attached.
Marina writes: "This morning while browsing Quintessential
Careers I stumbled upon a fantastic section about Salary
Requirements. [Editor's Note: Responding to Requests for
Salary Requirements or Salary Histories: Strategies and Suggestions]
I am looking at many jobs that ask for requirements and history.
The problem I face is that I have no salary history. To give
you the five-second skinny on my past employment history,
I worked full-time with a nonprofit environmental organization
(during my senior year of college, all together almost two
years). They wanted me on staff, but it came with a two-year
commitment, and I just couldn't put myself in such a situation.
I left the position and organization on fantastic terms.
I still am employed with them on a part-time, per-diem basis.
So what should I do? When checking on a reference would
a potential employer ask the referrer about what they
paid me? Do I figure out my "yearly salary" by calculating
my hourly?"
Hope writes: "How can I truthfully answer the question
when an interviewer asks me why I left my last job,
and do it in a positive way? I need suggestions."
Guy writes: "A headhunter called me out of the blue
and asked me about my interest in an associate creative
director position (I'm a
senior art director) in Florida.
Frankly, I like where I work now, although I admit it is
about time I got that promotion I so richly deserve.
Anyway, long story short, I got my 'book' together, updated
my resume, and went into a funk. I realized that all the time
I have been here I have not much but dreck to show for it.
Oy vey! I was determined to put the best spin on it, but
I am really worried. My previous portfolio was creative
and colorful and varied. Now my recent work seems to show
nothing but plain vanilla design. Part of this is the fault
of the client's taste, and part is the fact that my superiors at
work have kept me on such a lackluster account. But more
importantly, I have to accept some blame for it. I feel
my skills are being squandered. This job possibility has
opened up a Pandora's box."
Anonymous writes: "I have an MS degree in applied
mathematics. I have been in public education for
16 years. I have also been teaching at a junior college
part-time since 1994. I have been Mathematics Department
Chair since 1994. I don't know what I am qualified for
other than education. Where can I look?"
Q TIPS: Quick and Quintessential Career & Job Tips
Two hundred of the largest industrial and service
corporations in the United States have allocated more than
15 percent of shares outstanding for management and employee
incentives. Meanwhile, the top 100 dot-coms have reserved
more than a third of corporate shares for stock-based
incentives, according to a study of equity use released
by executive compensation consultants Pearl Meyer & Partners.
The Institute of Management and Administration's
Report on Salary Surveys reveals that 60 percent of
the employers surveyed by Synygy Inc. are adding incentives
to non-sales employees' compensation packages, while only
28 percent used them exclusively for their sales staff. The
survey found that, generally, the smaller the company, the
more likely it is to include incentive or variable pay in
its employees' remuneration. Nearly 90 percent of the
respondents indicated that incentives could encourage
employee retention and keep individuals focused on working
together, and 97 percent felt that incentive plans effectively
allow employees to share in the risk and rewards of company
performance.
It's not just corporate bigwigs like former Tyco
CEO Dennis Kozlowski who have negotiated sweet severance
packages. Business Week reports that a growing number of
job-seekers say they want assurances when they're hired
that they'll be taken care of if the day ever comes when
they are told to take a hike. Indeed, 63 percent of some
1,100 prospective hires polled last fall (2001), by
TrueCareers, an e-cruiting business, said negotiating
severance agreements at the outset is an important
consideration when taking a job. So-called "golden parachutes"
for top executives have spread quickly since they first
showed up in executive compensation in the early 1980s,
and thousands of managers now have them. About a quarter
of some 641 members of the Society of Human Resources
Management, which represents some 65,000 HR professionals,
responded in a recent survey that the companies they work
for negotiate golden parachutes. And it's not just top
execs anymore; these perks have filtered down to the
"silver parachutes and bronze parachute" level.
The TrueCareers survey found that 40 percent of respondents
research a company's severance and outplacement policies
before they apply. The volatile labor market is the main
reason some 59 percent of the TrueCareers respondents said
they want up-front agreements. Another 18 percent said they
learned their lesson after past layoffs for which they were
unprepared financially. The going rate for severance is about
two weeks' pay for every year of service, but policies vary
widely from company to company. Prospective employees can
always ask for guarantees of other assistance, such as
outplacement services and extended health-insurance coverage.
What do employees want most in a job? The
New York Times recently reported that Watson Wyatt, a
consulting firm in Washington, asked a variety of employees
who were top performers in their fields to rank the importance
of pay, benefits and 13 other workplace attributes.
(Some of the categories of employees interviewed
included clerical workers, professional-technical,
managers and people who earned more than $100,000 a year.)
The results showed that:
Men valued compensation above all else, while women put
employee benefits first.
Compensation was third on the women's list, after
opportunities to develop their skills.
Professionals in the survey valued skill-development
opportunities the most, while clerical workers cared
little about them; they wanted employee benefits and
job security.
Those who earned more than $100,000 a year ranked
compensation first.
People earning less than $30,000 yearned, above all,
for job security.
Every group surveyed placed some importance on
benefits -- except the under-30's, who did not even rank
benefits among their top five concerns.
The young workers' hit parade included opportunities
to develop skills; chances for promotion; compensation;
vacations; and having an appealing culture and colleagues.
In another poll, Randstad North America, an employment
consulting firm in Atlanta, asked employees which ''hard
benefits'' and ''soft'' workplace factors would be most
decisive in making a stay-or-leave decision. The survey,
which did not break out respondents by demographics or by
profession, found that:
Health insurance was by far the most valued hard benefit,
ranking significantly ahead of pay.
Those who were polled
attached relatively little importance to market- and
performance-linked benefits like stock options, profit
sharing or ''creative incentives.''
As for a company's soft attributes, the factor cited most often
by respondents was whether they liked the people with whom
they worked.
A ''pleasant work environment'' and an easy
commute tied for second place.
In yet another poll, the National Association of Colleges
and Employers asked 1,218 college seniors entering the
work force to rank the importance of 20 benefits:
Again, health insurance was the winner,
followed by 401(K) plans, annual raises, life insurance,
dental insurance and pension plans.
Day care centers ranked 19th out of 20, not surprising
because the respondents were unlikely to have children.
Also near the bottom were several perks that companies
use to court young workers: casual-dress policies, on-site
fitness centers and social activities.
Take Our Survey! Please Help Us Help You...
If you haven't already done so, we have a big favor to ask: please
take a few minutes to complete a totally anonymous survey.
As we vow in our privacy statement, we absolutely will not
use the information gained in any other way than to make
our Quintessential Careers site even BETTER for our readers.
WATCH FOR feature articles on these topics in upcoming
issues of QuintZine:
* Cover letters to recruiters
* Home-based careers
* How to start a job club
* The ultimate guide to interview preparation
* How to create and publish a Web-ready resume
* Crafting a successful e-mail resume
* The interview as sales call
* Getting the raise you deserve
* Your senior year in college: Pivotal to job-search success
* 10 things I wish I'd known before starting college
* 10 things I wish I'd known before starting my first job
* Letters of recommendation
* 10 ways to develop job leads
* Why, how, when to use a career coach -- and whom to choose
* Employer research: step by step
* Learn about careers through job-shadowing
* Balancing career and family
* 10 job-search reality checks
* Is job flexibility right for you?
* First days on the job: Strategies to get ahead
* Dealing with a bad boss
* Making your case for telecommuting
* A day in the life of a recruiter
* Don't wait by the phone: Following up on all job leads
* Dining etiquette
* Career journaling
* The relationship between personality and career choice
* What employers are really looking for
* How to create and use a networking card
* How to resign from your job gracefully
* Step-by-step guide to career planning
* New series: 10 mistakes to avoid in: resumes, cover letters, interviews, salary
negotiation, career change, networking, job-search
* Quintessential Career Profiles of YOU, our readers
* Q&As with well-known career experts
* Book reviews
. . . and much, much more!
Don't ever want to miss another issue of QuintZine? Get a free subscription to
the email version of QuintZine by completing our
subscription form.
Advertisements
RESUMES * JOB SEARCH CORRESPONDENCE FROM TRUSTED EXPERTS * COVER LETTERS
We create resumes,
cover letters, curriculum vitae, thank-you and
follow-up letters, and list-formatted documents,
such as salary histories and reference lists.
We also can provide critiques and makeovers of
your resume or cover letter. Credit cards accepted.
Quintessential Careers also offers writing services
for those who have been asked to give a speech and
need assistance in researching and writing their
remarks.
Need a speaker for your career-oriented conference or
event at your college or organization? The Quintessential
Careers Speakers Bureau can help! Our quintessential experts
can provide presentations/workshops on a variety of
career-related topics.
