Everyday life is all about bargaining and negotiating to get what you want or need. Whether at work, school, or home, you will always find a time of day where you will need to rely on your best negotiating skills, especially if you are trying to get ahead or make a point.
When asking for a salary increase, your negotiating skills need to be developed, sharpened, and communicated in a professional manner. One of these skills is showing confidence in your request and approach. If you are lacking confidence when you ask for an increase, your boss may see that you also may lack confidence in showing that your work is worth getting a raise.
To truly show confidence in your negotiations, you must be prepared. Before you sit down in front of your boss to negotiate a new salary or benefits (i.e. and extra week of vacation each year), consider the following:
Define your goals before you start the negotiating process. What is the highest/lowest monetary amount you are willing to accept? If you can’t get an extra week of vacation, would you settle for 2-3 days of additional vacation time?
What have you prepared to prove your worth/point? Do you have quantitative examples of your achievements in your current position?
Have you practiced HOW you will ask for a raise or enhancement to your benefits package? What is your introduction to the situation going to be? Create an agenda for your conversation and use strong keywords that will make a point. Try to prepare for any objections or questions that your boss may fire back at you and come up with concrete answers to prove your point(s).
Don’t only practice your words. During negotiations of any type, your body language is also important. Are you able to keep your language in check if the discussion grows heated? While eye contact is a great tool, staring down your boss with a scowling face to get what you want is not.
What is your stopping point? How long will you fight before you know your request is a lost cause?
Are you prepared for the fallout if your boss denies all of your requests? Are you okay with just going back to your to your office and continuing on with no extras? Will you threaten to look elsewhere for employment, and if so, will you be prepared if your boss encourages you to take your career elsewhere effective immediately?
The bottom line is that you need to be prepared before you enter into any type of negotiations at home, with your supervisor, or with a colleague or client. Successful negotiations aren’t just about getting what you want, but more about building stronger relationships and having the confidence to ask for what you deserve and/or are worth. If you’re able to get some or all of what you asked for, well…that’s a bonus!
College Education – Is it Worth it in Today's Economic Climate?
With many college graduates unable to find full time employment and a new crop ready to come up, many of them are starting to wonder where they will find a job. It wasn’t long ago that a college degree all but guaranteed you a stable career and higher earning potential. Now, many are not seeing the same returns they once did. So is a college degree worth it in today’s economic terms? How do you quantify who earns more?
One area to look at is recent graduates from the past 5 years when the Great Recession began. The data shows that of those people who graduated college – nearly 90% were employed – when compared to people who did not graduate college who were employed at 64%. These figures do not show whether these graduates were employed in a field related to their degree or not. But, another telling fact is that college graduates are earning almost double that of people without college degrees. This advantage will likely stick with them throughout their working careers. Another Option
Another way that we assess the value of receiving a college degree is to compare the rate of return from investing in a college degree versus using the same amount of money for investment opportunities. College degrees are obviously expensive. Tuition, books and housing all add up to well over $100,000 for a four year degree. This is only average as some colleges cost considerable more.
So let’s say you have a recent high school graduate who has $100,000 to invest in their future. Is college the right option or would you use that money for something else? Would investments such as stocks and bonds outweigh the lifetime earnings that a college degree would bring?
The correct answer is, technically speaking, investing in a college degree. A college degree has a rate of return of 15% a year for $100,000 invested. Compare this with the average returns on the stock market at 6.5%, along with the rate of corporate bonds at 3% and other stable investments and you’re not even close. Higher Rates of Return
A better rate of return translates into higher lifetime earnings as well. Over their lifetime, the average diploma holder will earn over $550,000 more than the average person with a high school diploma. So the incentive to receive a college education is high.
Some high school students would do well to invest in technical or trade schools that offer specialized skills which will keep them employed throughout any recession. There are opportunities out there for everyone and remember – many people who never graduated college have become successful in different fields. Think of the Bill Gates’, the Paul Allen’s and the Larry Ellison’s of the world. Not having a college degree never stopped them and it should not deter anyone from achieving their dreams.
Job Search Prospects from a Candidate's Perspective
Today’s job seekers are more critical about the hiring process than ever and many companies are starting to see this trend continue. It seems more people are going for the same jobs, which creates competition for critical positions where many people have similar or comparative skills. To make things even more difficult for those looking for work, jobs in marketing, finance and telecommunications are being outsourced to other countries that offer cheaper labor.
In speaking with my clients the past few months, the following are some of the thoughts they share: It can be a cut-throat hiring world out there and it pays to be diligent when you’re looking for a job. Talk to some of your friends in the job market, chances are you will hear horror stories of people not working for 1, 2 or even 3 years. Many people are depressed with the current job market and with actual unemployment numbers hanging around 11% it’s no surprise that people are starting to get more and more worried. Yes, there is some job growth, but there are also lost wages as employers stagnate wages in favor of giving higher-ups more competitive salaries while giving lower workers the old heave-hoe. Sometimes it’s easier for companies to find a fresh college graduate or outsource jobs overseas than it is to pay a 55 year old American – with years of experience – to do the same job. This is where we stand now. It seems people are depressed about the current situation, so what are some things that we can do to remove ourselves from the current predicament and start the financial journey upwards? Many candidates feel the hiring process is indicative of the type of company they are applying for. Candidate’s are tired of “jumping through hoops” just to get a job that pays $12 an hour. But, the other side of that are companies that hire too quickly and end up with the wrong employee. Up to 40% of candidate’s will withdraw from the hiring process if the perceived company impression does not fit with their worldview. Interesting? Yes, they may be hard up for employment but many would rather work menial jobs than take a path that would violate their sense of well being. This, however, can benefit candidates who will gladly snap up these jobs just to have something, and have the hope that their hard work will manifest itself into a full-time career with their new company. Always be prepared and focused on finding a job. I’ve heard of companies posting jobs on internet forums that like-minded candidates would visit in hopes of fishing a good employee. The online world is not the only place to be prepared. Just talking to people opens a whole new world of possibilities that many jobseekers are not looking for. They may say they’re looking for work but are fine with the status-quo. Do not be one of them. Get out and find something that works for you. Work hard for it and make sure to cross your “t’s” and dot your “i’s”.
What Do HR Managers look for in Executive Level Talent?
HR Managers like to develop relationships with potential executive candidates long before the candidate is even considering another job. But, you still have to find the right HR Manager who will help you on your job hunt. Human Resource professionals know all the tricks of the trade when it comes to recruiting executive level talent. That’s why you need to know their tricks so that you can put yourself out there and find the career for you. Experiences vary Incredibly Executive level recruiters know which streams of information to tap into. Companies are looking for executives with a strong cost/value relationship, so they want great return on their investment. You’re their investment and they want to see results, so focus your attention on ways that you’ve improved your previous employer’s sales or goals. Recruitment Strategies Word of mouth is often a great recruitment strategy for executives. If one executive knows that a recruiter will find them a position with more money and better benefits, then they should hop on it. HR Managers are looking for executive talent that can recruit themselves based on their own experience within their field. If they want to choose another field, then the HR Manager will need to focus on showcasing how their talents would translate. They Collect Data on the Executive Recruit Collecting data about an executive level recruit is one way that HR Managers look for talent. They want to find the candidate that has the best experience working with close competitors on the same type of position or something similar. HR Managers often find that this is the easiest and most hassle-free way of looking for talent. It’s not easy trying to find the most competitive positions within large companies, but thats what recruiters do, they find the cracks, get the right data and position their client as the best candidate. Recruiters get Specific With the amount of people looking for employment, HR Managers have had to get very specific with who they recruit. They advise those who do not meet the requirements for a position, to not apply for that position. HR personnel have to organize and interview those who meet their specific requirements, which is usually done through a phone screen and then a face-to-face. Make sure that you are comfortable during the face-to-face with your recruiter, but your recruiter should also make you comfortable. Often they will offer you something to drink, so take that into consideration, does this person have your best interest at heart? Recruiters will often select people with good listening skills and they pay close attention whether a candidate is listening to them or not. They will not base their choices on looks because clients are not focused on that. Companies are looking for people who are going to make an impact based on their past experiences, not their appearance. That’s not to say that you should not be dressed in business attire.
It might sound like a lot but if you’re going to work with a recruiter on your executive level placement, then you need to follow their instructions and choose the right one. Take it easy, you’ll do fine.
Your resume is your marketing tool for success. You need to be able to advertise your skills and ability to succeed with your prospective employer. The format and feel of your resume can either open doors or close them, often this feeling can make people question why they didn’t get the interview or thinking they are not qualified. The resume that lands you the job interview isn’t a simple listing of your past duties or work experience. It has to convince readers that you have the required skills and abilities to exceed the expectations of the position, so your resume should be structured in a way that arouses employers interest in you and gives them reasons as to why you are more qualified than others, while encouraging the employer to get in touch with you for an interview. Most people do not realize that employers will do a quick scan of a resume, it typically lasts only a few seconds. They’re looking for key skills and accomplishments that the perfect candidate will have. So capturing the employers attention is critical or else you’re information can get lost in the shuffle. To prevent your resume from ending up in the “Trash” file, here are some helpful resume tips that will set you apart from the rest. 1. Review the job posting and description carefully
A lot of the time, job-hunters will write one generic resume and send the same generic resume to every employer. This is one of the biggest mistakes facing job seekers because it produces so-so resumes that don’t necessarily match the employers requirements.
You need to highlight your appropriate skills for that job. Reviewing the job requirements is a great way to tailor-make your resume contents to the employers needs.
2. Know the difference in resumes
There are two main types of resumes: chronological resumes and functional resumes. Chronological resumes coordinate your past job experience and place emphasis on your experiences that apply to that field.
Functional resumes are good when you have little to zero work experience (or new grads). This type of resume allows you to showcase skills that fit in with the job requirements. Fair warning: most recruiters and hiring managers don’t like this format and feel as though you may be “hiding” something.
If you have a chronological resume, you do not want to have one part chronological and one part functional, because it will throw off the entire formatting and may confuse the employer about your skill set. 3. Focusing on accomplishments
Focusing on what you have accomplished will help to set you apart from your peers. You should highlight the value you’ve brought to companies and the success that they have seen while you are there. Companies are looking for game-changers, they want 5 star recruits, not 2 star players who are not up to the challenge. You have to make yourself into a 5-star recruit, you cannot rest on your laurels and hope for the best. Spotlighting your success will show potential employers that you are capable of outperforming your peers.
Many executives who are looking for an opportunity to receive their Masters degree without impinging on their current responsibilities are turning to Executive MBA’s. These unique programs offer professionals a curriculum that fits neatly into their professional world. The programs are designed for a group setting and in most cases, a group of students will begin and complete the program together. The short length of the program, typically two years, is also advantageous. Still, many professionals wonder about executive MBA’s: are they needed and what’s the value?
Executive MBA programs are similar to more traditional MBA programs. Courses include advanced finances, accounting, management, statistics, information systems and marketing. In the competitive world of upper management and executive positions, obtaining an advanced degree is often a necessity. The nature of the executive MBA makes this possible for those who otherwise would not be able to. People who are attracted to the Executive MBA program are varied. Most share a desire to grow professionally and who do not have the time to complete a more traditional program. In most cases, EMBA candidates have ten or more years experience in their given field. Individual schools may have a variety of other requirements as well. These may include professional recommendations, GMAT scores and a complete professional resume. Obtaining an executive MBA can have a large impact on your career. The degree represents another level of experience and sophistication. Advanced knowledge and new skills allow you to expand your roles. In a world that is competitive on a global nature, this experience and these skills can be invaluable. For self-employed individuals, the degree is equally useful. It will provide you with yet another platform from which to launch future business endeavors and successes. Price may be a concern when deciding whether to obtain your executive MBA. It is true that the cost can seem quite steep; however, the price of the degree is an investment in your future. In some cases, it may be possible to defray the cost by working with your employer. Even if this is not the case, understanding the inherent benefits of an MBA and an executive MBA in particular, often makes the price of the degree well worthwhile. Determining if an executive MBA degree is ideal for you is a personal decision. The price and time commitment often seem steep. Still, the benefits and the potential for future job growth and potential increased earnings often make working towards this degree a simple decision for many professionals. If you are considering working towards an EMBA, discuss the matter with your employer. Doing so may help you defray some of the costs. It will also give you an idea of what benefits you can hope to reap upon completing your degree.
Whether you are a recent high school graduate looking for a career path or simply considering a career change, determining which of the many fields to enter is overwhelming. The sheer number of factors makes it incredibly difficult to determine which fields are the best to choose. From earning potential to longevity, picking the correct field is critical for future success. Many advisors are pointing to the technical field as the best field for future growth. Why technical jobs are the wave of the future is simple: the jobs offer the greatest opportunity for job growth and income potential.
Technical jobs encompass a wide variety of skill sets. Leading professionals utilize these skills and their expertise to deal with a large range of specialized business areas. These include not only computer programmers, but also engineers, financial analysts, scientists and more. Technical jobs utilize advanced knowledge of computer systems, languages and project management experience to perform tasks and skills aimed at keeping a company ahead of the technological curve. The truth is: technology is rapidly expanding.
Each day new techniques, programs and processes are developed. Implementing these changes, taking advantage of new technology and understanding how various advances can impact a business is critical for ongoing success.
The great thing about technical jobs is the wide variety of positions available. Examples include the following:
Sales Engineer: Identifies customer needs, improves business processes through engineering and adaptation of equipment, products and services
PC Technician: Maintains computer environments by analyzing systems and needs, plans, implements and “rolls out” projects and installs the latest in hardware and software.
Technical Support Specialist: Maximizes system abilities by implementing applications and recommending technologies to improve performance.
Technical Writer: Employs both writing skills and an underlying understanding of technology by producing and editing product descriptions and instructions.
Project Manager: Utilizes technology to smoothly integrate all aspect of project management. This may include scheduling software, tracing capabilities and other technological skills.
Today, almost every aspect of a business has a technological component. Accounting systems that integrate with procurement and online outlets, productions lines that rely on automation, human resources, sales, administration… in short, businesses need trained technology professionals in order to function. At their most basic level, technical jobs are the wave of the future because technology is the future. Until such time, if ever, that technology evens out, businesses will need more trained professionals to implement the latest in advances. Anyone considering a career change should carefully consider technical options. Training and retraining is readily available and in the current job market, many of the jobs that are available are in the field of technology. Technical jobs may be the best way to ensure continued earning potential and job growth.
Consider retraining in a technical field today to improve your marketability and earning potential.
Throughout your career, you are definitely going to encounter a situation where you feel entitled to a salary raisebut have not been offered one. Learning how and when to ask for a raise is the first towards taking control of one’s future and career. Unfortunately in these tough economic times, raises are not always freely given, in fact sometimes we feel like we are fighting for it. Capitalizing on successes and highlighting your ability to make a difference can often be parlayed in to raises. The trick is to know when to strike. First, decide just when to ask for a raise. This can be tricky. Many employees opt to only ask for a raise on a yearly basis, but it is possible and sometimes even suggested, to ask for raises on a more frequent basis. When trying to determine the best time to ask for a raise, consider the following:
Is your employer financially secure? Even if your company announce it’s earnings from the rooftop, it is generally possible to determine if they are secure or experiencing cash flow difficulties. Obviously asking for a raise when a company is strapped for cash is not a great idea.
Has your employer recently won new business, reached a sales goal or other milestone? If so, it is often best to ask for a raise as soon as possible – especially if you contributed to the success.
Have you recently done something to change your company in a positive way? Finishing a large project, winning a new client or developing a helpful program for the company can make you shine and is the best way to successfully ask for a raise.
Once you have determined the perfect time to ask for a raise, you next need to learn how to do so in an appropriate manner that is professional but also persuasive (minus the chocolates and sucking up). Remember to keep all communications regarding your request positive, and be prepared for a ‘no’ or an offer that is less than you expected.
When asking for a raise, remember that your best weapon is your record of successful accomplishments. Properly documenting and presenting them is critical towards a successful request. Carefully and concisely outlining your accomplishments as well as your growth is the first step towards asking for a raise. Finally, always remember that professionalism is key. Because of this, it is vital that an employee not ignore the management structure of their organization. Every employee should first approach their manager or supervisor with their salary raise increase request. Jumping ahead is little more than stepping on the toes of the manager and will likely not result in a raise.
If you are not satisfied with cost of living or non-existent raises, don’t be afraid to approach your manager about your needs. An employee who recognizes their strengths and contributions and is willing to learn and grow is an asset to any organization – raises simply make sense. Find the best time to present your request and documentation and you will likely see your salary increase.
Everyday life is all about bargaining and negotiating to get what you want or need. Whether at work, school, or home, you will always find a time of day where you will need to rely on your best negotiating skills, especially if you are trying to get ahead or make a point. 
