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NEGOTIATING YOUR PACKAGE

Written by: Atul Uchil

Article Overview: Salary negotiation is simply the process of individuals working together to arrive a mutually beneficial employment agreement. Negotiating need not be adversarial or confrontational. Rather, it is an opportunity to win the respect and admiration of employers by demonstrating confidence in your self, your skills and your ability to negotiate amicably.

NEGOTIATING YOUR PACKAGE

Salary negotiation is simply the process of individuals working together to arrive a mutually beneficial employment agreement. Negotiating need not be adversarial or confrontational. Rather, it is an opportunity to win the respect and admiration of employers by demonstrating confidence in your self, your skills and your ability to negotiate amicably.

You will never be in as fine a position to negotiate a salary as you are at the time when an organization first makes you the job offer. Take your time and cover all the bases.

Most people are uncomfortable with negotiating and rush to accept an offer. They give away their bargaining power by revealing salary expectations too early in the process.

First, before you enter into any negotiations, it is very important for you to know what you are worth and know what employers are paying for someone with your skills in that particular geographic area.

Secondly, you must know your rock bottom number of what minimum salary you are willing to accept.

If you enter into any package negotiation without these two pieces of information, you have little to no chance of getting what you want.

The factors that contribute to any individual’s rock bottom number are unique to that individual. The list below states some of the common factors that you might use to calculate your rock bottom number.
- The salary range for this type of job in that geographic area
- The cost of living
- Your background and experience and their relevance to the employer
- Your level of education
- Other special skills and or experience that you possess
- Your absolute financial need (debt situation and family circumstances)

Carefully evaluate all factors that coalesce to form the entire package. Salary is not always going to be a dollar figure. It could be a salary plus benefits including profit sharing, vacation, health insurance, etc.
During negotiations, you need to appear professional, interested, confident and knowledgeable. Do not treat the negotiation as a competition. Remember that you are your potential employer are working toward a mutually beneficial arrangement.

Additional information on conducting salary negotiations can be found in The Corporate America Survival Handbook. ISBN: 1598000942.

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