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4. Typically, the employer is better prepared because
he has an annual discussion regarding pay and benefits
for every associate on staff.
5. For example, Louis Nigro, president of Kleer-Fax, Inc.,
a manufacturing plant on Long Island, has over 100 employees.
6. Over the past forty years he has had tens of thousands of salary
negotiations. Compare that to how many you have had.
7. First, know that it is normal to be nervous. This can be assuaged,
though, by taking the following steps.
8.
9. What hurts many people is that
they have no idea what
the standard is for their position.
10. This can be found by going
to a site like www.salary.com.
11. There, you can type in your position
or field, and then select the title
that best suits your work.
12. If you are a financial advisor who fits the position
of Corporate Financial Associate II and are making $95,000
a year …
13. … then you would find that, in spite of not doing too badly,
your salary is actually in the bottom 10% of all people
in your field.
14. To make sure that this is accurate you can seek the advice
of a finance industry recruiter who can help you assess
where you should be.
15.
16. When you find that your $95,000 salary is well below
the $111,674 median it can be disheartening …
17. … but you can take heart in knowing that with this data
you can reasonably ask for a raise of $10,000 or more.
18. The way you do this during a salary
negotiation is to discuss what you
have contributed over the course
of the past period (there or in your
past job) …
19. … as well as whatever other assets
you bring, and then present
the salary report.
20. Upon seeing this, your employer
is going to realize that he is going
to lose you if he doesn't make
a respectable offer.
21. When he or she does make an offer,
you can ask for more and likely
get it.
22.
23. Henry Kissinger had a great method
that allowed him to get as much as
possible when dealing in negotiations.
24. An offer would be made and he
would say, "that's not good enough."
25. We are not advising that you quote
him directly; he was acting
as the Secretary of State for the most
powerful nation on Earth.
26. However, when an offer is made, you can say,
"is that the best you can do?"
27. If the answer is yes, then you can believe it because
there are many times that the response comes back
with a number that is surprisingly higher in terms of salary
or benefits.
28. The compensation package battle only happens once a year,
if that, and what you get paid today …
29. … determines a great deal of the trajectory of your future salary,
so it is important to know what you can get, and then negotiate
so that you get it.
30. If you are looking for a job in the finance industry,
give the recruiters at Willis Consulting, Inc. a call.
31. They not only have the 411 on the best jobs
out there, they will also give you advice and guidance
so you sail through your interview