5 tips for negotiating salary:
Industry
Research your
industry to see if your job is in the projected high growth zone. According to CareerBuilder.com, they
project job growth through 2018 for biomedical engineers, medical assistants, network systems and
data communications analysts, and registered nurses. Examine the expert
analysis on the leading companies in your industry. If your field is emerging
or slated for growth, you can leverage your talents and skills to negotiate a
higher salary. If you are in an industry that is declining or stagnate, it can
make a big difference in potential pay raises.
Region
Closely study
your local job market and statistics for unemployment. These facts and figures
can have insight into the competition in your area and whether you are located
in the best region for your target industry. Your prospects, as well as your
salary, can be affected by this type of data.
Professional
designations
Degrees,
certifications, credentials and professional designations are highly marketable
and can have an impact on salary. These set you apart from your peers and can
sometimes generate as much as 10-15% higher salary rates. Special skills and/or
licenses also play an important part in moving a career forward and ability to
demand a larger salary.
Before you can
effectively network, you need to be clear about what skills, talents, and value
you have to a potential employer. If you don’t know your value proposition, how
can someone else promote you to an influential network? Utilize social media
networking such as LinkedIn, Facebook and Twitter as platforms that can add dollars
to your salary. If your social media network reaches out to thousands of
followers your employer may view this as valuable outreach to potential buyers
of their products or services. Those followers carry a dollar value which in
turn adds to your power to negotiate that financial influence into your salary.
Financial
power
Enter into salary
negotiations from a position of strength. It is similar to asking for a loan
from a bank. You will get a higher consideration for the loan if you can show
you don’t really need the money or that you have reserves to pay it back. When
negotiating a salary, your persona needs to be well seated in confidence,
knowing your experience in the industry, degrees and certifications, and prior
accomplishments will be backing you up at the bargaining table.
I have only outlined a few brief statements on the topic of increasing your salary. Nancy L. Anderson, CFP has much more to say on this subject. To read more from Ms. Anderson and to read the entire post which this blog is based on: Forbes article






