Negotiation and compromise are the key ingredients to achieving the successful business marriage. You, the applicant, must be ready to do both. It is more necessary of you than of the employer. It is easier for him to find a more compatible person than it is for you to find another appropriate position.
In the market of today, you must be cooperative and flexible in your desires and personal goals. Salary negotiation should be thought out ahead of time.
You may have to accept a lesser salary; forego a bonus; do without a car allowance; have to contribute to your medical benefits; or work different hours. Know before you go for that final interview what you are willing to give ground on. Be prepared to give up something. You would be extremely lucky in today’s market to get everything you want.
Ask yourself some questions beforehand. Try to project where and what the company may ask you to compromise. Plan your reaction to each of these situations.
Would you accept a lower salary, but full-paid benefits? Would you forget the car allowance for a higher salary, or a bonus? In any and all cases, be flexible or realize that you may be eliminating yourself from getting that particular position.
Do some projections at home, before the meeting. Sit down and do a budget. Tally up all of your household and family expenses, loan payments, insurance premiums, and any other costs of living. Total this out, then take 10-15% of that and add it to the total, as pleasure and emergencies as they arise. You now have a workable bottom-line number, below which you cannot afford to accept a position. Keep that in mind as you are negotiating salary and benefits with the company.
Go into the final interview ready to make the commitment to the company, enthusiastic about the job, and optimistic about your future together. A positive attitude will often overcome some of the obstacles in negotiation. Seeing your enthusiasm and willingness to compromise on certain issues may win you the other points. Success is a give-and-take. So give a little, and take the job!
As in any marriage, each party must bend to the other at times. We do it in a business marriage as well. Remember that this in not the 1900’s, which were lucrative for both companies and employees. This is the era of the 2000’s, which are lean and streamlined. Fat is out, and thin is in. Corporations are rebuilding from lower levels, and employees are also forced to regroup and rebuild careers. As in any marital dissolution, the parties involved must start over. Loss of a job, for whatever reason, is a business-marriage dissolution.
Get out there and start looking for that new life, and keep your options open and flexible or you will forego good opportunities. The poor, struggling company may turn out to be a real winner; while the fancy-office, high-flying company may go broke. You can never be sure.
Nothing in life is truly perfect or guaranteed, so why expect a job to be? Aim high, and be ready to settle for less. In tough times or in good, job searching requires determination, hard work, and flexibility. There are a lot of good people out there. Make sure that you measure up, or they will get the job you want.
If you have any questions about negotiating salary and benefits, please contact us. Please be aware that salary negotiation can be tricky without knowing the specific situation and people involved. We will try to answer all questions as best we can.