Negotiating a Starting Salary Essay -- Business and Management Studies

Negotiating a Starting Salary With internet access available to nearly everyone, job seekers are armed with more information than ever before. Information can be obtained for job openings, job descriptions, and even salaries. Sometimes when filling out an application, a box will ask for a salary desired. Some advertisements ask to send your resume with salary requirements. These are sometimes tough questions to answer. How much does that job normally pay? Is the job applicant worth the top pay? This paper will explore the various factors involved when attempting to negotiate a starting salary. Topics such as helpful internet sources will be introduced, along with salary ranges, and helpful interview techniques will be discussed to better position one self to obtain the salary desired. Some basic concepts should be understood before attempting to negotiate a starting salary. First of all realize that a job in New York City will most likely pay more than the same job in rural Ohio. Geographic locations and cost-of-living play a major role when determining salaries. For example, comparisons were made for an entry level job as a bank teller in Elyria, Ohio and New York, New York. The results were interesting. The median expected salary for a typical Teller in Elyria, Ohio is $20,913; with the 25th percentile being $19,642 and the 75th percentile at $22,645. The median expected salary for the same job in New York City is $24,274; with the 25th percentile being $22,799 and the 75th percentile at $26,284 (www.Hotjobs.com). Supply and demand also play a part. If job candidates are plentiful then negotiating power is limited. However, some fields are in high demand and college graduates in those fields will find they have their choice of employers. For instance, according to The American Almanac Of Jobs And Salaries, the occupations with the largest job decline are sewing machine operators. This data covers the time period from 1996 to 2006 and they are in decline by 26 percent (xxviii). Conversely, according to Enhanced Occupational Outlook Handbook, the fastest growing jobs are computer related. From 1998-2008 computer engineers, computer support specialists, computer systems analysts, and database administrators are expected to grow by 108, 102, 94, and 77 percent respectively (18). A third concept to remember is that ev... ... appeal to their power and position in the company. Say something like, â€Å"If you have the power†¦Ã¢â‚¬ . Most managers will enjoy the positive comment and if they can get it done for you they will (www.collegegrad.com). These negotiating techniques highlight just some of ways a job applicant can better position themselves for a better starting salary. Salary wizards on the internet will give you a pay range. Various articles at career related web sites can give you some valuable insights. And of course your local library will always have books on hand to guide you through your job and salary search as you prepare yourself for the challenges of the working world of the 21st century. Works Cited Farr, Micheal J. and LaVern L. Ludden, Ed.D. Enhanced Occupational Outlook Handbook 2000-2001 ed. Caroline Levchuck. â€Å"How to Determine Your Salary Range†. 10-30-2004. Lussier, Don Job Search Secrets. Lincolnwood: NTC/Contemporary,1998 Wright, John W. The American Almanac of Jobs And Salaries 2000-2001 ed. â€Å"The Unacceptable Offer Negotiation Technique†. 10-31-2004. . â€Å" 10 Tricks for Negotiating a Higher Starting Salary†. June 20,2004. Employment Digest. 10-24-2004.