How Much Are You Worth

How Much Are You Worth? Americans say that the most important factor in considering a job opportunity is salary. 89% of the respondents in a Job Satisfaction Survey conducted by rated salary as being as most important when deciding whether to accept a job offer. In addition, more than 50% of the survey respondents believe they are underpaid.

The same survey was conducted in India by The study revealed that approximately 70% of the Job Seekers switch the job because of higher salary offered. So, what to do? How can you tell if the job you've just been offered pays enough or if your current salary compares to the market rate? It's going to take some time and some research to equip yourself with the information you'll need to successfully negotiate the salary or raise you deserve.

So while you're conducting your job search, research salaries for the career field and the geographic area you're interested in. It's important to be prepared when a prospective employer asks you your salary expectations or makes you an offer. Even if you are contentedly employed, it makes sense to know what you should (or could) be earning.

Negotiating a Raise If you are currently employed and want a raise, start by being prepared. Gather your salary survey information, recent performance appraisals that document the job you're doing, and any other relevant information. Be aware of company policy regarding compensation. Some employers are limited by budget constraints and can only give raises at certain times of the year, regardless of the circumstances.

Have a clear idea of what you want. Determine the salary range you're looking for and justification for the increase and have both ready to review with your supervisor. Be flexible. Would you consider an extra couple of weeks vacation instead of a raise? I know someone who's regularly taken time-off instead of money and now has six vacation weeks a year. Then, ask your supervisor for a meeting to discuss salary.

Present your request, supported by documentation, calmly and rationally. Don't ask for an immediate answer. Your boss is mostly likely going to have to discuss it with Human Resources and/or other company managers.

Despite your best efforts, there may simply not be enough money in the budget to increase your salary or compensation package offer. The company may also not want to create inequities by paying one person more than others in a similar position. In that case, you can at least know you tried. Plus, if this is a job you really think that you're going to love, consider whether the company culture, the benefits, and the job itself are worth it - regardless of the salary. By: Shishir Gupta MD ? http://www.

Shishir Gupta,

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