What to do about your salary?

Tips for Salary Negotiation in the Era of Pay Transparency Laws

What strategy should you use when discussing salaries in this new era of pay transparency laws? How should you effectively represent yourself when the wage range is extraordinarily wide? And is being bluntly preferable to being subtle?

Enjoy your newly acquired power.

Even while certain pay ranges may appear too wide to be effective, they highlight the power of bargaining.  Not only must you be prepared to ask for more, but you must also be well-informed and confident enough to present your case.

Do research.

Your purpose is to enter the discussion with a clear awareness of the employer's position on your market value.

Instead of being discouraged, utilize this information to support your argument. Visit job-search websites and databases like Ladders, Salary.com, and Glassdoor, and converse with recruiters and professionals in your field.

Understand the procedure well.

Most compensation negotiations—but not all—take place after the business has proposed. But if you believe your compensation should be on the upper end of the range, you should think about indicating your wage expectations early in the process.

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Make your argument...

It's important to express yourself effectively while negotiating a better wage.

Of course, you've previously discussed your prior successes during the hiring process. It's time to discuss how you'll bring value going forward and how your salary should reflect that. It's time to discuss how you'll bring value going forward and how your salary should reflect that.

If you're shooting high, bring it.

Negotiating over the specified wage range is doable, but you need to have a strong argument. About 5% of employees at many organizations feel comfortable receiving wages that are higher than the maximum.

A word of caution, though: Be careful to ask about the company's policies since if you're paid more than the limit, you could not be eligible for pay raises in the future. It is advised to schedule a half-hour appointment with an employment attorney in the city where the firm is headquartered for senior jobs.

Rather than focusing on "fairness," consider the shared interests.

Pay transparency regulations were established to ensure equal remuneration, but basing your negotiation on fairness is not a smart approach.

Principles to Bear in Mind

Do

·       Enjoy your newly acquired advantage. Pay transparency provides you with knowledge about your options.

·       Make time to complete your research so you can provide a compelling case for the pay you desire.

·       By framing your case in terms of the company, you can ensure that the recruiter can share your narrative with the decision-makers.

Don’t

·       Even if a specific amount seems out of reach, have doubts about yourself. Make a compelling, well-reasoned argument if you believe you are worth it.

·       Instead of debating what is just or fair, concentrate on the interests you and the employer share.

·       Make the error of believing you can continue to bargain endlessly; businesses often have a defined procedure and do not desire a protracted back and forth.

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