What are you worth?

When you are negotiating your salary, do you know how much you are really worth? Do you just think about the take home pay or do you sit and really consider the different ways in which a company can compensate you?{{more}}

Work is an exchange between the worker who has a skill and an employer who wants to purchase that skill. Your skills can save the company money, increase revenues, or both. Whatever your skill, you need to know what your work is worth in order to present yourself well and to be paid fairly. Unfortunately, some job seekers see themselves as beggars hoping someone will be merciful and hire them. That kind of thinking puts the employee at a disadvantage and reduces his bargaining power.

When you know the value you bring to an organization and can articulate that clearly, you can confidently sell your skills for a fair price.

Consider the following: Does the company offer room for advancement? Do you feel like you fit the organization? Is there support for career development? Do you have access to a company vehicle and fuel program? Is there overtime and holiday pay? How many sick, personal, and vacation days would you receive? Is the schedule night and weekend work or strictly Monday through Friday? Weigh the importance of any type of medical, dental, and optical insurance, and other bonuses.

One potential benefit – tuition reimbursement programs – needs to be highlighted. This can be an excellent opportunity for employees who ordinarily could not entertain the idea of furthering their education. Signing up for a degree program or other professional development classes shows your employer your willingness to learn and increases your chances of being considered for a promotion. Your initiative also makes you a more attractive candidate to outside companies. Some companies offer scholarships for employees’ children; these opportunities should not be passed up.

Delay telling a company your salary requirement, especially if you do not know the scope of the work. Some companies ask at the outset what salary you want and then use this information as an opportunity to reduce the number of applicants for a position. One of the biggest mistakes job seekers make is to say exactly what salary they want too early in the negotiation process. Salary requirement should be the last item discussed and the interviewer should be the person to introduce the topic.

Do your research and learn what the industry pays for the desired position in your region. Consider your experience. Set a low range and a high range and negotiate accordingly.

Karen Hinds President/CEO –