Understand Your Value

When negotiating, your next job offer, it’s important to know your worth to employers. Having researched the necessary information on salary, benefits and perks helps you construct the job offer that meets your goals. Follow these guidelines to understand your value in the marketplace.

  • Salary

Based on your skills, experience, and market demand, determine a reasonable salary for the position you want. For example, use an online salary calculator that takes into account your role, years of experience, skill set and location to determine what salary range you should request. Also, ask individuals in your field what they’d expect a specific position to pay or whether a specific salary range sounds appropriate. In addition, consult professional organizations in your industry for periodic salary surveys and general information on what salary range to anticipate. Furthermore, ask a professional recruiter what similar positions in your industry are paying. There are many variables companies go through to determine salaries that are offered. While there may be room for negotiations and discussion, in some cases they are simply bound by internal requirements.

  • Benefits

Determine which benefits are necessary for you to accept a job offer. For example, health insurance, vacation days and a retirement plan with company match are generally expected. You also may want dental, vision, disability or other types of insurance; a flexible spending account, wellness program, PTO for volunteer work, or additional benefits. Decide which benefits are most important to you, are they attainable based on the role and company, what will the financial impact be with having or not having a particular benefit. For example, if the employer cannot increase your salary, yet the position meets your other needs such as allowing room for growth, or the new experiences you are seeking, you may be able to negotiate a signing bonus, additional vacation, or other benefits.

  • Perks

Figure out which perks may be available when accepting a job offer. For example, the option to work remotely and/or set your own schedule. You may desire regular feedback on your work performance to continually add more value to the company and increase your odds of being promoted. In addition, you may want opportunities for professional development, tuition, and/or mentoring to be provided/reimbursed by your employer. Furthermore, you may desire a health club membership or reimbursement for another fitness program.

Ensure you also consider what perks you may be giving up by changing jobs. For example, you’ll have to give back all company-owned technology, such as cell phones and laptops. Also, if you drive a company vehicle, you’ll have to find alternate transportation. In addition, do you currently use your company’s onsite daycare facility, cafeteria, discounts. Do you have additional company paid holidays or perhaps a company shutdown during the year?

Understanding your value puts you in a more secure position when negotiating desired salary, benefits and perks at your new job. While you may not get everything you want, it’s important to know what you have or what you may gain when you consider a company change. For assistance with finding your next opportunity, get in touch with Next Level Professional at (262) 293-4288, check out our site www.nlsprofessional.com or e-mail paul.ladson@nlstaff.com.