You're about to negotiate a salary with a prospective employer, but you
have no idea what the going rate is. What do you do?
One strategy is to check pay-comparison Internet sites such as
salary.com and salaryexpert.com. The Web sites show salary ranges for
hundreds of job titles. For instance, one says pharmaceutical-sales reps
make an average $49,000 a year. (Salary-search tools also appear on dozens
of other Web sites, such as Monster.com and
this one.)
The sites say they gather the information from surveys of corporate
human-resources departments. In some cases, it's the same data employers
use to set pay scales.
There are two levels of service. A quick salary search is free. Then,
for a fee ($49.95 at salary.com, $39 at salaryexpert.com) applicants can
have a personal salary report drafted up with in-depth data and charts that
support a more carefully honed estimate. It takes around five minutes to
fill out the information needed for the report, which includes your work
history, education and skills.
With unemployment high, pay is a prickly subject. Still, job experts say
it's never wrong to ask for a little bit more from a prospective new boss.
"It's still appropriate to counteroffer," says Deleise Lindsay, managing
consultant in Atlanta for DBM, a career counseling firm. She used to work
as a hiring manager in the banking industry and says, "I always had a few
thousand dollars to play with. If they didn't ask for it, it was left on
the table."
Is it appropriate to bring these types of reports to a salary
negotiation? John Dooney, a northern Virginia recruiter who sits on the
opposite side of the table from applicants, says "it's how you communicate
it." He says the information can be helpful in initiating a discussion of
salary, but urges that applicants "not be confrontational."
While the information is generally considered reputable, other factors
also determine salary. Ms. Lindsay calls the Web services "very good
research tools to let the candidate know what their market value should be
as a baseline." She cautions: "There is a huge variable right now -- the
economy." A weak job market is undermining pay, says Lawrence Michel,
president of the Economic Policy Institute, a Washington research group.
Real wages, which take into account inflation, fell in 2002 and he expects
the job market to stay depressed in 2003.
With corporate budget crises pinching wages, Ms. Lindsay suggests
applicants propose noncash compensation to sweeten a hiring package. Things
like flex time, working from home and increased vacation are all chips to
bargain over.