In my last blog
entry I shared the most basic guidelines for a sensible way of looking at the
subject of money and for what to aim. In fact, I suggest you step back and view
it from a wider angle.
There is and should
be a balance and trade-off consideration. For example, if it’s a great job you
may be a bit more flexible on your monetary demands and vice versa. But let’s
say you get a verbal offer and the hiring manager floats a test balloon to see
your reaction. If the money comes in lower than you wished or expected, your
first reaction might be to counter immediately and begin the back and forth
banter. However, not before you ask more questions and learn about the entire
package. Anytime there is a bonus structure or benefits at stake you have to
take into consideration the total cash value. For example, if they provide to
you a cell phone for business, an expense account, or paid meals, a notebook or
other things, these have cash value when you lump it all together. So, before
you focus singly on the salary, get the full picture of what is being offered
and how it is structured.
Another
important thing for you to consider; when is the first performance review, is
there a probationary period linked to a pay increase? For example, they may
start you out at a salary level that is lower than you want, but if you ask you
may learn that after a short probation period it will be boosted close to where
you’d like to be. Or, you may learn the first performance review is 6 months
from start date, so if you prematurely roll your eyes and bristle at the low
salary you are being offered before learning the additional details, you might
make yourself look impulsive, short-sighted and not as clever as you may think
you are, so use your head. Especially if it is a verbal offer relax, you’re not
signing anything at the moment. On the other hand, they may make you an offer
that, when you probe further, you’ll learn they scratched together enough to
meet your salary expectations. However, the trade off is that you won’t be
eligible for a pay increase for a year-and-a-half because, to get the deal
done, they’re essentially bringing your first review pay increase forward now
and the budget won’t allow another pay increase, which you would have gotten
later. The only way to know this is to ask – and you should ask; they asked you a lot of questions to prove you are
worthy of hiring, you should exercise the same scrutiny.
Don’t lose sight
of the opportunity itself, there may be a justifiable reason for sacrificing
your wants a little bit to get your needs fulfilled and maybe the job in
question has good job growth potential and/or security. My motto in any and every business endeavor, whenever possible, is a goal of both sides
engaging from a standpoint of shared risk
and mutual respect. Sometimes people enter a process with the right mindset
but, as soon as money becomes the subject, they get tunnel vision, lose their
mind and let greed take over. Falling into this trap can cause you to blow it
so take stock occasionally as to what your primary motivation and goal was /
is; it is never only about money.
Clearly, during
these last few years there are more people competing for jobs, and so employers
are in a stronger position to dictate their terms. If you find yourself in a
situation that is not to your advantage, much less fair, then you’ll be in the
difficult position of deciding if it is better to say thanks, but no thanks and
walk away. Hopefully, you’re pursuing more than one opportunity anyway. As an
individual, only you know what you can and are willing to accept. Being well
informed before making any decision is your
burden, and not that of the company with whom you are seeking employment.
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