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Monday, June 20, 2011

Get More Money! Do Your Homework

This story is an "alleged" transcript of an actual radio conversation between a US naval ship and a Canadian maritime contact off the coast of Newfoundland in October 1995.

Americans: Please divert your course 15 degrees North to avoid a collision.

Canadians: Recommend you divert YOUR course 15 degrees South to avoid collision.

Americans: This is the captain of a US navy ship; I say again divert your course.

Canadians: No. I say again, you divert YOUR course.

Americans: THIS IS THE AIRCRAFT CARRIER USS LINCOLN, THE SECOND LARGEST SHIP IN THE UNITED STATES' ATLANTIC FLEET. WE ARE ACCOMPANIED BY THREE DESTROYERS, THREE CRUISERS AND NUMEROUS SUPPORT VESSELS. I DEMAND THAT YOU CHANGE YOUR COURSE 15 DEGREES NORTH, THAT'S ONE FIVE DEGREES NORTH, OR COUNTER-MEASURES WILL BE UNDERTAKEN TO ENSURE THE SAFETY OF THIS SHIP.

Canadians:
We are a lighthouse; your call.

This is a great story and makes the point that you need to perform your research before getting heavily into any negotiations. Here are a few points to consider when preparing for your salary negotiations:

Market Research
Do extensive salary research based on your title and location before you start negotiations. You want to ensure you are negotiating with numbers that are comparable in the market. You can find some good salary market data for someone with your title and location on your Talent Exchange Dashboard.

Everything is Negotiable
Remember anything and everything is negotiable during the offer process. Make sure you have an understanding of what is being offered and make a list of what is important to you and ask for it.

It can't hurt to ask! A big misconception that job seekers have is that negotiating an offer will be detrimental in being hired for a position. Maybe you think it will make you look ungrateful or greedy, or you will be seen as not a team player. Don't think this way; employers expect that you will negotiate the offer.

Finalizing the Deal
Once you get to an agreement on the offer, make sure you confirm with the employer everything that has been agreed upon. I recommend you send an email or a letter to the employer with all of the agreed upon items. The employer will then send you an offer letter that they will want you to sign. Read this very carefully and make sure all of the agreed upon items are listed in the offer letter! It is much easier to negotiate compensation terms before you are hired then after you have been hired.

Best Wishes,

Doug Smith
Director of Product Management, Talent Exchange