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Did
you know employers sometimes pay a premium for the right education
and experience? Or that you might be able to earn more by doing
the same job in a larger company? In fact, these could be some of
your strongest negotiating points in your next performance review,
job interview, or request for a promotion.
Employers
typically adjust their market data when determining how much to
pay a specific employee to do the job. In other words, they price
the "space" - the position in the organization - before
they price the "face," or the person doing that job. After
they determine the value of the position by researching the data
on pay practices for comparable jobs at comparable companies, they
adjust the data to reflect the employee's background and experience.
Employees
now have access to the same caliber data as HR departments, including
data that reflects salary secrets like the eight things that can
boost your pay.
Finding
the Best Data
The data in the Salary Wizard
is a great starting point for determining what employers are paying
for a specific job in a specific location. The salaries are national
averages to which an adjustment has been applied to account for
broad geographic differences in pay. The Salary Wizard starts to
put a value on the space, but not the face.
The
next step is to dig deeper into the numbers. In addition to geography,
other factors have an influence on how much a job pays, including
the size of the organization and the industry in which the employer
does business. Geography, company size, and industry all affect
the value an employer puts on the "space." The Personal
Salary Report provides data pertaining to jobs in a specific
combination of industry, geography, and company size.
Eight
Things That Can Boost Your Pay
The value of the "face" - the person doing the job
- is the value of the "space" adjusted for characteristics
known to have an influence on an individual's pay. Salary.com calls
these "personal variables," adjusting for eight personal
variables in the Personal Salary Report.
 They
include the following.
- Years
of experience
- Education
- Performance
reviews
- Boss
- Number
of reports
- Professional
associations and certifications
- Shift
differentials
- Hazardous
working conditions
Years of experience
Typically, more experience results in higher pay – up to a point.
Similarly, if the position calls for someone with 10 years of experience
in a particular occupation, and you don't meet those requirements,
you may find yourself on the lower end of the pay scale. Negotiation
tip: emphasize your years of experience if you have slightly
more than what's required; if you have too much experience, you
may be overqualified.
Education
The match between your education and what's normally required
for your job usually affects your pay. Plus, the quality of education
can affect
salary. Earning a degree from a top program typically has a positive
influence on pay, while earning a degree from a school that's considered
weak in a particular field may decrease your earning potential.
Negotiation tip: emphasize your education if it is more than
what's called for in the job - and it's relevant.
Performance reviews
Since most employers base their pay decisions at least partly
on individual performance, this is an important variable when being
considered for a pay increase or promotion. Even when applying for
a new job, this information may be important to your prospective
employer, as it gives a more complete picture of your abilities.
Negotiation tip: performance has a significant impact on
pay, especially incentive pay.
Boss
The more discretion and latitude you have in relation to your
company's success, the more directly your decisions and actions
will affect the bottom line – and your own. And if your boss is
higher on the corporate hierarchy, his or her recommendations concerning
your pay have less chance to be overridden in the cycles of review.
Negotiation tip: in the interview process, find out who the
position reports to, along with the position's potential for growth.
Number
of reports
The more employees you manage, the higher your pay in certain
jobs. Of course, your level of success is also based on the performance
of the employees you manage. Negotiation tip: emphasize the
successes of those who report to you or who reported to you in your
previous position.
Professional
associations and certifications
Certifications and memberships in professional organizations
or trade associations can have a positive effect on pay. However,
if a job calls for a certification you don't have, you might not
get the job or your pay might be set at the lower end of the range.
Some employers require employees without certifications to work
toward them. Negotiation tip: if you have a certification
that is optional, but considered a plus, that means you can expect
to earn a little more because of it.
Shift
differentials
In certain jobs, workers may be expected to perform tasks during
less favorable shift times. These employees are typically paid a
premium due to the higher social and physical costs involved in
working outside "normal work hours." In jobs that don't
normally operate on more than one shift, the differential is negligible
and usually only taken into account when a nonsalaried employee
works overtime or on a special project. Negotiation tip:
you can expect to earn a little extra for working the second or
third shift.
Hazardous
working conditions
In certain jobs, workers are expected to perform tasks under
dangerous working conditions. Dangerous working conditions can be
defined to include anything from handling dangerous chemicals in
a research facility to walking a police beat in a dangerous section
of town. Jobs that fall into this category are usually regulated
by outside authorities, including labor unions and the government.
Negotiation tip: ask for hazard pay if you are put on a temporary
assignment in a dangerous location.
-
Regina M. Robo, News Editor
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