How to Turn a Job Offer Into Raise

How to Turn a Job Offer Into RaiseHow to Turn a Job Offer Into RaiseNothing improves your bargaining position more than a better salary offer from a competitor, but the offer can win you a raise or blow up in your hand.After two years of a deep recession that put employees at a disadvantage in the job market, it can be hard to imagine employing the sort of career strategies and tactics that were common the decade before.Few people talk about climbing the corporate ladder and holding out for more money instead, common wisdom has focused more on lateral moves to secure companies, accepting smaller salaries and racing to snap up job offers before someone else does.But even in a market that favors the employer, recruiters and compensation experts say human-resources departments are anxious to keep the employees they have and often willing to go the extra mile to obtain new top talent. One tactic, leveraging a larger salary offer from a competitor, remains an effective tool to promote you r career and grow your income. And as the economy improves, so too should your willingness to employ this bargaining tactic.Many businesses are already running lean and have retained many of the individuals they consider fruchtwein necessary for success or survival, said Lisa Torres, a professor of sociology who studies employer-employee relationships at George Washington University in Washington, D.C.Key people the ones that have the right skills or are involved in something that is key to a company or its future still have a lot of leverage, said Jay Edelman, president of Top 5 Data Services, a market-research company that helps large companies structure their compensation plans. Its not like a couple of years ago where a lot of industries were like finance, where its always been assumed you could walk across the street and get another job. But the weight hasnt all shifted to employers.But leveraging a competitive offer can be a tricky and qualifikationly risky affair, said seve ral compensation experts and recruiters. You chance offending your current employer and risking your job meanwhile, if the new employer views you as a mercenary, it may rescind the offer. A job seeker must know when to try it and when to back off when shes playing a legitimate hand and when shes bluffing.Try the new boss firstApproaching a current boss with what amounts to a threat that youll leave is never comfortable, and it exerts only limited leverage because youre already on the payroll, Edelman said.You can get more mileage from a competitive offer when youre negotiating to take a new job, he said. With a new hire, the authority who approves salaries and benefits has already signed off on a specific salary number and on a range by which that number could change, depending on the candidate, Edelman said.By the time youre negotiating, theyve already vetted you and they have the money, and its a lot more likely theyll say, If it takes another $25,000 to get this person, lets just give it to them and get on with things, Edelman said. They might give it to you as a signing bonus or other one-time thing, but thats when theyre going to be most open to those kinds of considerations.The key in that case is to articulate the factors that will make you happy or unhappy in a new job and use the leverage you have to structure the job in a way that will help you succeed in it, said Victoria Pynchon works as a mediator at ADR Services, helping other lawyers negotiate their way out of sticky conflicts.Being in a job where you dont feel respected is intolerable, no matter what they pay you, Pynchon said. Having good associates can mean the difference between succeeding at something and keeping much longer hours to just do it adequately.The major drawback to this approach is that job offers of any kind are rare right now, and having two good ones simultaneously is even more uncommon.Is there anyone out there facing that? Pynchon asked.Approach your current company delica telyIf you are going to use a third-party offer as leverage within your current company, start by considering how your employer will react. If youre approaching your current employer with a competitive offer, the companys performance and your treatment during the last 12 months should give you a clue to its response, Edelman said.Companies have been making a lot of changes in their compensation programs, not so much in salaries in most cases, but in smaller bonuses, higher thresholds to trigger a bonus, more limits on restricted stock options and other things, Edelman said. Theyre putting in intelligent triggers so at certain levels you get this benefit not because youre still here after a certain time but because the board decided they want certain kinds of performance (goals) and youve achieved those.If youve been there more than a year and your compensation doesnt show youre on the positive side of that more benefits, showing that the company really values you you have to assum e youre not the highest value on the team, Edelman said. That doesnt mean the company doesnt value you if youre still there, it probably does. But your reception, if you go in with a competitive offer, may not be what you want.Prepare your demandsBefore you ask a current employer or future employer to entertain a competitive offer, you should sit down and figure out what exactly youre hoping to gain or change through negotiations.Whats at the top of the list? The answer to that, by the way, is never, ever, ever, More money, Pynchon said. More often its a change in the associates you work with, the kinds of projects you work on or your career path. When you make a list of things to negotiate about, dont go in thinking about the money list the other things first.Not only will your goal in the negotiation be one thats more likely to make you happier and more effective in your job, a list of other potential changes gives your boss things to take off the table without stopping the conve rsation completely.Every piece of research has shown that the more you give up in a negotiation, the happier your negotiating partner is, Pynchon said. So having some things you can give up without too much pain will do a lot to help maintain that relationship.Be prepared for a conversation that may not go your way, however, and dont invest so much of your ego in the numbers that you end up declining the offer out of spite.Finally, dont forget that if youre doing well in your current position, your security might be more valuable than an incremental increase in compensation. Its almost always the case that you can (perform) better in a current job than a new one, anyway, so most of the time its smarter not to take the other offer, Pynchon said. But its hard for overachievers to say no to another $100,000.

How to Manage Your Boss at Work - The muse

How to Manage Your Boss at Work - The museHow to Manage Your Boss at Work Youre buttoning the last button on your coat, having completed everything on your to-do list for today. You and your friends have planned a fun dinner out to catch up, and youve been looking forward to it all week. Just as youre grabbing your bag to head out, your phone buzzes with an email you immediately regret opening Jane, I finally have some revisions to the deck you sent me last week. I know its last minute, but please take a look and send a revised version to me as soon as possible. Id like to send it off to the client later tonight. Are you kidding me, you ask yourself, seething as you realize you have no choice but to bail on dinner.You did your part On time But none of that matters now that youre stuck answering to your boss when the office has emptied out. You may have managed yourself, but you didnt manage your boss, and thats wzu siche things can get unwieldly. Managing up isnt easy, but it isnt im possible eitzu sich, and learning the ropes of it will make you happier at work. Ahead, five things you need to have a handle on if you want your boss to trust you (and if you want to leave the office at a sane hour). 1. Know Whats ExpectedWhen you get a frustrating email request from your boss, youve got to figure out your next move, and determining that should be based on your managers expectations Is answering him something that must happen ASAP, or can it wait three hours without another frenetic email? bedrngnis only do you need to have a strong understanding of what your supervisor considers urgent- whether or not he has stated it as such- but you have to know whats worked in the past and whats been deemed unacceptable. (And, of course, if the demands seem unreasonable, you should find another time to address your concerns.)2. Know Her Pet PeevesYouve got them- and so does your boss. Does your manager hate getting an email that requires a response after a certain hour? Is she bothered by the fact that you store up questions instead of asking them as they come to you? Maybe she resents the fact that you gently remind her about getting back to you on a project when she has it on her list.No matter how off-the-wall her pet peeves seem, the smart thing to do is commit them to memory and try your hardest not to be the one responsible for irritating her with little things that can easily be avoided. The happier she is with you, the mora likely she will be flexible and open to your schedule and ideas. 3. Know His Schedule and PrioritiesYour boss has demands, a schedule to follow, and priorities of his own. Its part of your job to know what all that entails. Who or what is pulling him in different directions? What are his deadlines? Who is he answering to? The more you know about your supervisor, and whats going on for him, the better prepared youll be for putting out a fire when one flares up or navigating a situation that at first glance seems unmanageable. Fo r example, if you know he has a big presentation coming up on Thursday, ducking out of the office a half hour earlier than usual to hit the gym the night before probably isnt a brilliant plan. 4. Know Her Preferred Communication MethodGood communication is key in all relationships, and this quality is no less important when it comes to your boss. You can begin understanding your supervisors language by asking yourself how she likes to receive information- in person, via email, over text? And how and when? Does she wake up early to sort through things before the regular workday begins? Does she commute home on a train and catch up on items then? The goal is to make the path for delivering the information as easy for her as possible. That way, she can focus on the content or issue rather than the potentially distracting mode (e.g., sending her a chat message after hours when email is preferable). 5. Know When to Bring Up Potential IssuesDont wait until theres a problem. Remind your ma nager when you have a vacation coming up. Be clear about important dinner plans or the fact that you have concert tickets. If you have a priority that will take precedence over his needs, like your grandmas 90th birthday party, give him some notice so that he doesnt end up putting a big project on your plate hours before you need to be somewhere. And better yet, figure out if hes the type to need both an early heads-up as well as a day-of reminder. If your boss feels looped in and aware of any major things youve got going on outside of the office, its unlikely that youll have to deal with last-minute asks. This goes both ways though- dont wait until the night before your manager is going on a family vacation to ask for feedback on your presentation.Following these guidelines wont guarantee everything will always go smoothly, but it will significantly increase the chances of it. Your relationship with your boss is an ongoing one, and every manager is different. Do your best to compre hend his or her work habits, pet peeves, and expectations so that your day-to-day is less stressful. In the end, learning to manage up will only help you when the time comes for you to take on a leadership role. Photo of woman reading email on phone courtesy of Shutterstock.

Attention all new small business owners Its time to rip off the band-aid

Attention all new small business owners Its time to rip off the band-aidAttention all new small business owners Its time to rip off the band-aidFive steps to ensure the financial stability you need to start your own business. Its 6 A.M. Your alarm goes off youre about to begin your 9-to-5 day. But, unlike most of your co-workers, you also have a 5-to-9 day on top of that. You are an entrepreneur. You decided to start your own business, but are leery of quitting your day job. You have bills to pay. Youre unsure how successful you will be on your own. Too many worries to take the plunge. But plunge you must in order to give it your all and make a success of your own business.Have no fear, there are a few precautionary measures you can take to ensure financial stability. This will give you the push you need to just rip off that protective covering and quit your job. If you write out a plan and follow it to the letter, you should be fine.Heres what you need to doSet up a monthly budget, outlining the bills you MUST pay and setting aside the spending on things you dont really need.Make sure you have enough savings in the bank to cover your must pay bills for a period of time and give yourself that time to make a go at it.Limit your discretionary spending, curtailing all spending that is deemed unnecessary until you feel you are taking in a bit more than you are putting out. It may not be fun, but it will be worth it in the long run.As you take in income from your own business, instead of immediately going out and rewarding yourself, why not extend your time frame for going it alone, without re-entering corporate America just yet.Be realistic If you are not making the money you thought you should be making or enough to cover your bills after your window of time expires, reassess. Look for ways to cover those expenses, be it re-entering the workforce with a full-time job if you really must or compensating the loss of money with a part-time job and continue working on your own business.If you pledge to truly follow the rules youve set up for yourself, you should feel a little better about walking into your bosss office and giving notice. Remember, do it gracefully and make sure to always maintain that relationship as you never know when you may need it, be it as a future client or even a return to the workforce.