Salary Negotiation
"In business as in life, you don’t get what you deserve, you get what you negotiate."
- Chester Karrass
Salary negotiation is one of the most misunderstood aspects of professional life. Contrary to popular belief, it isn't a course of action exclusive to the hiring process. In fact, salary negotiation skills can also be used during performance reviews and contract renewals, as well as when trying to secure a raise or promotion. It isn't just about money, either. Entry-level positions typically have a fixed rate of remuneration, but one can always bargain for a better benefits package or extra vacation. Experienced professionals can also ask for specific perks such as relocation assistance, stock options or a company car.
The basic dynamic of a salary negotiation is deceptively simple. On one side is the employer, whose goal is to offer the lowest reasonable wage. On the other is the worker, who's aiming for the highest reasonable wage. Though opposition is a definite factor, it would be a mistake to treat the situation like a competitive sport. The objective is to find a compromise that's satisfying to both parties. Otherwise, resentment over the details of the agreement might ruin any potential for a fruitful professional relationship. For this reason, salary negotiations can be particularly tricky.
Salary Negotiation on AM
A crucial part of your professional development, salary negotiation is too often neglected. Even though the process is usually associated with job-search procedures, most employment seekers tend to set it aside, focusing all their attention on earlier stages like the resume and the job interview. However, you should always come prepared when it comes to discussing salary negotiation. After all, your initial pay sets the tone for all your subsequent compensations, including incremental raises and annual bonuses, both of which are typically percentage-based. In other words, fighting for the wages to which you're entitled is essential to your long-term career.
A successful salary negotiation demands skill and preparation. On the one hand, claiming too little can lead to years of professional dissatisfaction. On the other, you don’t want to turn off your boss or potential employer by asking for too much. It's a delicate balancing act, but AskMen.com provides you with all the tools you need to formulate a winning strategy.
Whether you're starting a new job, asking for a raise or discussing your bonus, these articles will help you in your salary negotiation so you can get the compensation you deserve without putting your professional standing at risk.
Salary Negotiation Fact
Cheating on your wife can greatly decrease your chances of a successful salary negotiation, as Clark Gable discovered when he asked MGM Studios cofounder Louis B. Mayer for a 500% pay raise, only to have Mayer respond by blackmailing the film star over his affair with Joan Crawford.
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