may have a hard time matching your job to a job title. You’ll need to pick one—or two, perhaps—that seem close. Where there are actual job descriptions along with the titles, that can help you select a title most closely related to the level of responsibility.
Once you’re on track with a title and perhaps a job description, begin collecting pay-comparison-analysis information that will coalesce into your objectively researched value (ORV$). The four online “preferred providers” for competitive salary information are
Calculating the Three Factors (Individual Value)
IV$ refers to your assessment of how well (or poorly) you can do the work compared with other candidates’ ability. Are you a cut above average? Well known? Have a special expertise? If so, your added value can add dollars to put your salary in the above-average range.
Calculating the Three Factors, PART III: Rf$
Objectively Researched Value determines a range, and Individual Value a place within that range. Rf$ can take the salary off the chart! Whenever you are willing to negotiate compensation contingent on performance, you add what I call Risk-factor Dollars (Rf$).
Employers’ basic principle in hiring (and conversely, firing) is the Make Me a Buck principle. They bring you aboard because they think your contribution will pay back more money than you cost. Are you willing to bet on it?
If so, then you can add Rf$ to your value.
If you’re just another cog in the wheel, you may not have much solid Rf$ value to work with, but on the other hand, if you expect to make a direct impact on the bottom line, this value could be very high.
Timing: When Should I Calculate my ISN Market Value?
Research and calculate your market value at the very beginning of the job search and interviewing process, but delay actual discussions about the monetary aspect of IV$ and Rf$ components until the employer is serious enough to make you an offer. There’s a fine line here. You do want to ferret out information in the interview to help you determine your IV$ and Rf$ value, but you do not want to discuss them yet as items of compensation.
In the beginning, just reassure the employer you’ll be fine with a “fair market value.” Later, when you’re talking turkey, negotiate those pieces of your market value.
Determining your No-go!
Without a “bottom line,” you may be swayed to accept a salary that’s too low. If you are clear about it before you go into the interview, you are in a solid position. If they don’t reach your “No-go” number, put a “comma” in the negotiations; schedule another round within 24 hours.
Read The Book To Learn
• Library and other printed information as salary research
• Library-research-for-computer-dummies technique
• Person-to-person research: direct-dial resources
• Person-to-person research: word-of-mouth resources
• Screen shots of the several preferred providers
• Several other websites for salary research
• Several examples of IV$
• Several examples of Rf$
Lightning Round IV
Salary-Making Rule 4
You’ve researched your Objective Market Value. You’ve identified your Individual value. You’ve calculated some incentive based on value you plan to create for your employer.
You have taken that research and turned it into three numbers: Ideal, Satisfactory, and No-go.
You’ve decided who goes first (column A or B).
A. Employer Goes First
| Emp: | Our offer to you is $ABC |
| You: | $ABC? [Hmmm; silence] |
| Emp: | We are flexible, what did you have in mind? |
| You: | May I share my IDEAL with you? Let’s hold it as a target, not a demand. Here it is. |
| <Your researched response> |
B. You Go First
| You: | May I share my IDEAL with you? Let’s hold it as a target, not a demand. Here it is. |
| Emp: | Gasp. Well, we were thinking of offering $XYZ. |
| You: | $XYZ? [Hmmm; silence;] |
| Emp: | Would you accept $DEF? |
| <Your researched response> |
So after silence, and perhaps your first raise, reply to the employer with your Ideal, based on your research. “What can you do in that range?”
Very High: If they make you an offer that is significantly above the Satisfactory level, make sure it’s a firm offer, then accept it. Soon thereafter, do some detective work and make sure you aren’t in over your head.
Very Low (but not below your No-go number): Keep the conversation going. Make sure the first number you got from them is firm, i.e., they won’t pull it back just because you choose to discuss salary further. Then from that “firm offer in hand” base, share your rationale(s) for a higher salary.
Bennies and Perks can sometime bolster a lower offer and make it Satisfactory.
Too Low: lower than your No-go number. Don’t reject it, yet. Give yourself and them some time. Get them to promise to keep the offer open 24 hours, and in return promise them that you’ll be clear and firm when you take it up again. If you can say yes and mean it, you’ll say yes. If it doesn’t work for you, you’ll say no and suggest they look for another candidate.
Caution: even with a good-for-24-hours promise, they could