Published on December 8, 2010
The Internet has changed a lot of things from how we interact socially to how we entertain ourselves to how we find jobs. But did you ever think that the web could affect our salary negotiations – both with a current employer and a prospective one!
So, if you have a nagging suspicion that you are getting/offered less than you deserve, remember that salary is negotiable from your end too (Yes, table discussions are not just for the big shots). But, while you know that you are responsible for getting paid as much as possible, negotiating your salary may still seem like a daunting prospect. In fact, when interviewers pose the intimidating question, “What remuneration are you looking for”, many nervous candidates quote a lower amount thus underbidding their own salary. This is where using some online tools can help you maximise your compensation.
Wondering how?
Well, you can now Google professional associations, niche magazines, career centres, government sources or check out what competitor organisations are offering for similar positions. The Internet has further levelled the playing field by providing access to various salary surveys on a multitude of employment websites.
You will easily find numerous websites offering price tags of different clerical, professional and management jobs based on specific job title, category, industry and geographic location. Not only does this profession-specific information present starting salaries but also bonus, options and benefits. Anyone from an accountant, engineer or graphic designer to even police officer or social worker can access these surveys and obtain median salary data ranging right from entry level positions to the CEO!
Then there are easy-to-use salary wizards for comparing average compensation based on key professional demographics like industry, employer size, location, job title, years of experience and professional certifications to estimate your expected salary range immediately. The results are often displayed in a bell curve chart showing pay for the lower 10th percentile, median and 90th percentile. There are also resources to compare salaries and cost of living between cities if you are contemplating a move.
Then again, you can obtain an even more detailed and customised compensation analysis which takes into account your background, educational qualifications, skill sets, past performance, desired position or labour market demand, but for a price.
This Personal Salary Report is replete with expert analysis of your market value, salary breakdown and negotiation tips.
Apart from informing you about what employers are willing to pay; many surveys also reveal industry trends, growth patterns, skills/experience in demand and so on. Therefore, you can assess what your skills are actually worth, but also understand which skills you should start working towards and what to expect in the future.
How to use surveys
Irrespective of whether you are looking for a new job opportunity, eyeing a raise/promotion or just up for a performance review, its time for some research on the internet. Check different survey results and submit your details on websites like www.salaryexpert.com, www.paycheck.com, www.payscale.com, etc. to ascertain how your current remuneration stacks up vis-à-vis your actual market value.
Do look for reliable survey sources. As Monster's negotiation expert Paul Barada advises, “Don't rely on any salary survey that doesn't tell you what companies participated, how many responses were counted and how the data was chosen”. Also, never forget to check the geographic location as it can cause great variances even in the median salary range. For instance, an administrative assistant will earn much lesser in Patna than in Mumbai!
Thus, the salary guide data is a very effective tool to determine where you stand and if you surprisingly find that you are overpaid, Rejoice. But, if your salary is lower than your value in today's job market, do not rush into your boss' cabin demanding a raise. First of all, salary ranges are not hard and fast rules. A note of caution: Some employment experts believe that the websites often display results that are higher than what the market actually reflects!
Moreover, the management will not just rely on the survey results – the onus is on you to show that you deserve it by delivering quality results and contributing to the growth of the organisation. The salary survey information will only serve to leverage your position making you more confident during the next salary negotiation!
Happy Negotiating!
Payal Chanania
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