Salary negotiation is a serious topic to discuss with your potential boss. It is especially challenging and daunting for a fresh graduate who has just entered the workforce and has never done this before. College grads seem to be very anxious and shy about it. In this article, we will show you statistics that will make you less stressed about it and will give priceless salary negotiations tips that will lead to success and satisfaction on both sides.
Accept or not accept - that is the question. Everybody who has ever faced up with salary negotiation at work found it very awkward. In fact, according to a survey conducted by Ally Bank, 70% of Americans think that it's rude to talk about money. People were more likely to disclose their income (39%) over savings (30%) or debt (29%) to family and friends.
We officially consider talking about money a taboo. However, why do we see the same trend in a working environment? According to Jobvite study, only 29% of employees got a pay raise as a result of salary raise negotiation and approximately 60% of companies don’t see a salary increase as a part of the promotion process. It means that people, who are working in companies where promotion doesn’t go along with a pay raise, have no chance to get a salary increase only because they have never tried.
Don’t you find it unwise? If you do, you probably have a question “What should be done in a situation, when you’re promoted but hesitated whether ask a boss for a pay raise or not?”
Here are 4 common instances, when you can get a promotion without a raise:
1. Company rules
There’s something you can not move against - your company’s policy. Entering a job you’ve signed up an employment contract and it meant that you accepted all the things mentioned there. For example, if there was a bullet about giving out raises only at the start of the new calendar year, and you're promoted in June, you may have to wait to get your hands on that extra cash. Still, you deserve an explanation about the details of raise promotion process and you have a right to demand it.
2. New position = new responsibilities
If you’ve got a “promotion” but the only thing that has been changed is a notice on your door means - you're setting yourself up to the fake promotion. When applying for a new role, the most important questions you should ask yourself are:
- “What is your current job title?”
- “What are my responsibilities?”
- “How you’re the payment would change? The better bonus system, pay rise, other benefits? ”
Worse than a promotion without pay increase could be only not being paid for extra responsibilities. Some company’s managers used to operate the human resources as it beneficial to a company. They may give you more and more responsibilities referring to the value you bring to the work without taking into account your point of view. Avoid such cases and evaluate your possibilities according to the work you do. Remember, you’re working - not volunteering and have to demand pay raise for additional duties. There’s nothing wrong in salary negotiation.
3. Other benefits available
In case, your company is on some sort of budgetary freeze or simply doesn't have enough money to offer additional compensation immediately you may ask for other possible benefits. Try requesting an extra week of vacation, or the option to work from home more frequently to make it an alternative pay package benefit. Feel free to ask for some added perks instead of cash if your new position requires more work. As the saying goes, “if you’re willing to do more work than you are paid for, soon you will be paid for more work than you do!”
4. The fourth reason
Before making a decision, whether you should accept a promotion without raise ask yourself a question “Is it worth it?’. Figure out whether it makes sense to accept it in the first place. Thinking about the responsibilities you'll be taking on. Will they help boost your skill set and advance your career, or will you simply be doing more of the things you're already doing in your current role?
Money is not always the most important thing as it may seem at first. If you really don't think your promotion will do much for your career don’t waste a time and better regret and invest in yourself. Define your interests, skills and previous experience and let it become your flow.
Essentially, the bottom line is always negotiating salary during a promotion to make a deal. It doesn’t have to be financial – but it does have to benefit you in return for the extra responsibilities.
Now, from video job interviews to candidate facial recognition, there is more to expect from the evolution of Artificial Intelligence in recruitment. However, regardless of any developments, here is what you can do improve your employment search strategies in the AI age.
It seems easy to write your resume’s languages section, but it can make or break your entire application. Language skills levels is a valuable information to have on your resume, as more and more US companies enter the global marketplace and search for candidates who have language proficiency levels. Before listing language knowledge on a resume, you should think twice what to include and what not.
Professional fairs are full of excellent opportunities to meet with potential employers, network with experts in the field and ultimately land a job. Check up the list of 15 top-notch job and career fair tips to get a job of your dream.
By writing a long list with many job roles, there’s a high chance you will confuse the hiring manager, on the one hand. On the other one, providing few details on your professional life can significantly undermine your chances of advancing to the interview stage. So, how can you get everything right? We’ll show you.
A cover letter is a great tool that can enhance your resume. Don’t think that cover letters are old-fashioned. It is so not true! More than a half of recruiters will appreciate a well-written applicant’s cover letter. But writing a good one can be challenging for job seekers. So let’s discover how to write a great cover letter that will set you apart from other candidates.
If you are ambitious enough to chase careers and get hired for executive positions, knowing the difference between President and CEO in corporate hierarchy is of paramount importance. Some people still confuse the meaning of these job titles but in the corporate world titles of President and CEO have distinct meanings. So let’s find out the real difference between Chairman and CEO.
Constantly ignored and overlooked job descriptions, what are they for? Nowadays, the purpose of job description can seem quite redundant and pretty much useless. With the unending excess of data on the internet, there’s no wonder why people would think that. Of course, if one can find all the necessary information about a company and a vacancy on their site. However, things look this way only to an untrained eye.
Knowledge of appropriate manners and body language for an interview may help you with overcoming nervousness and used as a powerful tool to make a great first impression. Recent statistics show that 93% of all daily communication is nonverbal. Those numbers are astonishing and prove that non verbal communication is more precise and sincere than actual words. Words can be deceiving because verbal communication lies in the field of our consciousness while using body language we reveal our unconscious. It is poorly controlled or not controlled at all, showing our true feelings and intentions.
What to do after college? Many graduates ask this question. As The Bureau of Labor Statistics mentions, roughly 84% of jobs can be divided into 3 main categories: absence of any diploma, high school diploma, and bachelor’s degree. High school-designated professions constitute the largest percentage of jobs in the United States. Does it mean that you barely have a chance to succeed in finding a job after college without a diploma? How about a winning resume with no work experience – is it possible or not? In this article, you’ll figure out what you should be ready to face after the graduation to get a prospective job in a prospering organization. These 5 tips may help to land a job today!