Compensation SurveysPaying people fairly is good for business. Underpay, and employees will eventually look for a better offer. Overpay, and the payroll budget and profitability will suffer. That's why companies use market data to research the value of their jobs. But what is 'market data' anyway?To determine the prevailing rate for a job, companies can 'benchmark' jobs against compensation surveys that are detailed and specific to the companies' industries and regions. A good compensation survey uses standard, proven methods of data gathering and statistical analysis to determine how much com... view article details

Let's say your resume is current, and you are beginning to speak to a few companies about a potential move. Here are some things to think about regarding your bonuses as you consider offers.Pay Mix Varies by IndustryLet's say you are contemplating joining a company in a different industry, although you intend to continue doing what you're doing now. The company you are joining is offering a much larger bonus than you are currently earning, but is ruling out that larger salary you were hoping for. That is, it has a different pay mix. Pay mix varies from industry to industry.Certain industries p... view article details

Not Using Company Medical Benefits? Negotiate Other Perks Instead When it comes to the topic of negotiation, most people's main focus is on salary. As David Lee Roth reportedly once said, "Money can't buy you happiness, but it can buy you a yacht big enough to pull up right alongside it." However, an increasingly important factor in an overall compensation package is health benefits. According to a 2007 study by the Kaiser Family Foundation, since 2001 premiums for family coverage have increased 78%, while wages have risen 19% and inflation has risen 17%. In 2010 the OECD ranked the US #1 in t... view article details

In our unstable economic times, there are few employees who feel absolutely sure their job will still be here tomorrow. But it's not productive to be distracted by needless worry every day. So how do we know when to relax and when to worry (and start polishing up that resume?) Pay attention to true warning signals, but don't get too caught up in office gossip. It can lead to low morale. Just keep your eyes open for these signs that your job may be on its way to the downsize dump.1. There are rumors of layoffs Here's an obvious one. Generally, when the... view article details

There's a Right and Wrong Way to Quit a Job So you're quitting? Congratulations on getting a new gig or just getting out of your old job that wasn't working. But no matter why you're leaving, make sure you do it the right way.Your parents probably told you to be the bigger person, right? Well now it's time to put that to the test. And that test can be pretty difficult if you really hated your job. There's no question that, for some people, it feels really good to quit with a bang and stick it to everyone who wronged you in the past. But even though that'll give you instant gratificati... view article details

Why is it so important to negotiate salary following a job offer? There are millions of reasons. Literally.People who don't negotiate salary could miss out on between $1 and $2 million over the course of their careers, according to Robin Pinkley, a professor at Southern Methodist University and author of 'Get Paid What You're Worth: The Expert Negotiators' Guide to Salary and Compensation.'Aaron and Wendy tap into Pinkley's expertise on everything from negotiating with people of different cultures to figuring out why women are so hesitant to negotiate salary compared to men. She gets into spec... view article details

Q. As my experience runs a little short of the job requirements, what should I submit as my salary requirements?A. At the minimum of the pay range, the least skill or proficiency is necessary to perform the functions of the job. The more proficient you get in your job, the closer you move to the median or middle of the range. If you are fully proficient and can perform a job with little or no training, you should target the middle of the range.If you have several years of experience performing a job and not only are fully proficient, but also can direct and lead the work of others, then you mi... view article details

Q. I never know what to say when the interviewer says, 'Tell me about yourself' or asks, 'Do you have any questions for me?' Most of the time I don't, because the interviewer has given a good description.Then there's 'What are your salary requirements?' I know you should not discuss pay, but how do you get around it without sounding really bad?A. To get a good idea of the job you are interviewing for, ask what expectations and objectives the supervisor or manager has in mind. You may also want to know the scope of responsibility of the job, and whom are you expected to interact with to get the... view article details

Q:  I am working on my associate degree with a double major in purchasing/business management. I have been a co-op student with the same company in the procurement department for a year and a half, and have just finished my co-op requirement. I really enjoy working in this field. I have a background in accounts payable, personnel, and office administration.The company doesn't have a position available for another buyer, only the co-op position. I keep hoping they will create one just for me, but that is unlikely. My purchasing manager is allowing me to stay as long as he is allowed to keep me.... view article details

Q. I work for a food and beverage management company that has had a few closures over that past year in my region due to cutbacks by our clients. To stay employed with my company, I agreed to consult in a different region (with a much higher salary scale for the same position) until new business opens back up in my home region. This agreement was on a month-to-month basis. Three months have gone by now and there is a possibility of new business back home. This new business will not open for six months though, so they have asked me to stay here until then. How do I negotiate for a salary increa... view article details