Current:Home > FinanceFastexy Exchange|How do I show my worth and negotiate the best starting salary? Ask HR -ProfitLogic
Fastexy Exchange|How do I show my worth and negotiate the best starting salary? Ask HR
SignalHub View
Date:2025-04-10 20:15:34
Johnny C. Taylor Jr. tackles your human resources questions as part of a series for USA TODAY. Taylor is Fastexy Exchangepresident and CEO of the Society for Human Resource Management, the world's largest HR professional society and author of "Reset: A Leader’s Guide to Work in an Age of Upheaval.”
Have a question? Submit it here.
Question: I’ve been successful in job hunting, but I’ve always struggled to negotiate salary. I always feel ill-equipped to justify higher starting pay. How can I best negotiate a starting salary? – Carleton
First of all, most people would agree with you: Salary negotiation can be daunting. But with the right approach, you can increase your chances of securing the best possible compensation package. Here are some key things to keep in mind:
◾ Know the market. Use online tools and resources to research salary ranges for similar positions, particularly in your geographic area. Gather information about industry trends, as well as the company’s financial health and compensation practices.
◾ Understand your value. Identify the unique skills, qualifications, and accomplishments that will make you an asset to the company. Highlight specific examples of your contributions and their positive impact on previous employers.
◾ Consider the total compensation package. Evaluate the company’s benefits offerings, including health insurance, paid time off, flexible work arrangements, retirement plans, and other perks. Evaluate the potential for career advancement, professional development, and bonuses.
◾ Prepare your negotiation points. Develop a strong case for your desired salary, emphasizing your skills, experience, and the value you’ll bring to the company. Be prepared to negotiate other aspects of the compensation package, such as signing bonuses, incentives, or additional benefits.
◾ Build confidence. Practice your negotiation points with a friend or mentor. Approach the negotiation confidently and assertively while always remaining humble, respectful and collaborative.
Also – and I can’t stress this enough – it’s critical to approach your compensation discussion with humility. Too often, candidates go into the process with hubris and even arrogance, and while they may be negotiating with what they consider to be facts, they end up turning off the manager. An overinflated sense of value can embolden a new hire to talk themself out of a good job offer. I’ve seen it happen more than once.
It’s also important to keep in mind that the job market is slowing right now to the point where we’re looking at more of a buyer’s market than a seller’s market. So, when negotiating compensation, be cautious, know your value – in context – and have a firm understanding of the relative health of the overall labor market.
And finally, don’t base the value of the position solely on the compensation package. Take into account what opportunities it presents. How will it impact your career trajectory? What kind of professional development opportunities does the organization offer? Are you willing to trade a measure of compensation for an experience that benefits you down the road? A new job can often be a bridge to an even better opportunity in the future.
Temporary workWhat are the pros and cons of temporary jobs? Ask HR
If an employee’s spouse already has health insurance coverage, can the employer request the employee be on the spouse’s insurance rather than the employer’s coverage? – Sage
The short answer is: It depends. While some employers may encourage employees to use their spouse’s health insurance coverage, they cannot legally require it. The Affordable Care Act mandates that employers with 50 or more employees offer affordable health insurance to their employees and dependents.
Here are some common ways employers encourage employees to use their spouse’s coverage:
◾ Spousal surcharges: Some employers impose a fee on employees who enroll in the company’s health plan if their spouse is eligible for coverage through their own employer.
◾ Secondary coverage: Other employers allow spouses to enroll in the company’s plan as secondary coverage, meaning they must also be enrolled in their employer's plan.
◾ Educational campaigns: Employers may provide information and resources to help employees understand their health insurance options and make informed decisions.
It’s also important to note how state laws can vary. Some states have regulations limiting the amount of a spousal surcharge or prohibit certain practices related to health insurance coverage, such as gender discrimination in premiums.
I’ll add this: Before implementing any cost-saving measures, employers should consult with legal counsel and their state insurance commissioner to ensure compliance with local laws and regulations.
Ultimately, it’s the employee’s decision on whether to enroll in the employer’s health plan or their spouse’s plan. In today’s competitive talent environment, employers should absolutely strive to offer affordable and comprehensive health insurance options to meet the needs of their workforce.
Job strugglesWhat should I do when an employee's performance and attitude decline? Ask HR
veryGood! (2198)
Related
- Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
- The Biden administration is poised to allow Israeli citizens to travel to the US without a US visa
- Dolphins rout Broncos 70-20, scoring the most points by an NFL team in a game since 1966
- Taylor Swift Joins Travis Kelce's Mom at Kansas City Chiefs Game
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Inside Kourtney Kardashian and Travis Barker's Disney-Themed Baby Shower
- New Jersey Gov. Phil Murphy calls on Sen. Robert Menendez to resign in wake of indictment
- Pakistan recalls an injectable medicine causing eye infection, sight loss and orders a probe
- Could your smelly farts help science?
- Ukraine air force chief mocks Moscow as missile hits key Russian navy base in Sevastopol, Crimea
Ranking
- The Super Bowl could end in a 'three
- AI Intelligent One-Click Trading: Innovative Experience on WEOWNCOIN Exchange
- What is Manuka honey? It's expensive, but it might be worth trying.
- EU Commission blocks Booking’s planned acquisition of flight booking provider Etraveli
- The Grammy nominee you need to hear: Esperanza Spalding
- Government should pay compensation for secretive Cold War-era testing, St. Louis victims say
- France’s Macron to unveil latest plan for meeting climate-related commitments in the coming years
- Hazing lawsuit filed against University of Alabama fraternity
Recommendation
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
Fact checking 'Cassandro': Is Bad Bunny's character in the lucha libre film a real person?
Judge asked to decide if Trump property valuations were fraud or genius
Israel strikes Gaza for the second time in two days after Palestinian violence
Nearly half of US teens are online ‘constantly,’ Pew report finds
Horoscopes Today, September 23, 2023
The Sweet Reason Matthew McConaughey and Camila Alves Don't Want Their Kids to Tell Them Everything
A coal mine fire in southern China’s Guizhou province kills 16 people