Salary
negotiations are an important aspect of the job search, because the job search
is not just about getting a job it is about getting a job that compensates you
fairly and adequately. Below are a
few factors that you must consider when engaging in salary negotiations:
1.
What is the
state of the local economy and the industry that the employer is operating
in? If the economy is faltering
they employer may be less willing to compensate at the top-end of the salary
scale.
2.
Is there a
high or low demand for the specific skills and experience that you bring to the
table? If there is a high demand for a person with your skills and experience
you may be able to demand more benefits or cash.
3.
Is the
employer currently profitable or are they operating at a loss? If an employer is operating at a loss
you may be able to negotiate a higher salary if you can prove that you will
improve their profitability.
4.
Where are
they in their business life cycle?
Are they a start-up, small, large or an established company?
5.
How urgent
is it that they fill the position for which you are applying? If they are in a rush to hire you may
be in a good negotiating position.
6.
How much
competition do you have for the job?
Are there many other candidates who might have skills and experience
that you bring to the table?