The best salary tips from career expert Martina Ernst
According to the latest Marketagent study in February commissioned by karriere.at, which surveyed around 500 employees in Austria on the subject of work in times of Corona, 52% think that now is not the right time to look for a new challenge. Almost half of all respondents (48 percent) still say that a higher salary is the reason for a possible job change. And many do not even have another choice but to look for a new job – due to Corona: one in three respondents (33 percent) said the Corona crisis had a "major or rather strong impact on a change of job. This leads us to consider how to negotiate salary during the job application process.
Recruiter, headhunter or online application portals ask for the salary expectations right at the beginning of the application process. This is an unfavorable time, because who knows the exact conditions of the job - let alone whether one would fit culturally with the new company.
Ideally, you mention that you expect a salary in line with the market value of the vacant position. If the online application portal requires you to indicate a number, then do not insert the lower end of the salary range. Why not - because this would signal to your future employer that you lack confidence and are not up to the task. Otherwise, you would at least expect to be paid the median of the job’s market value, wouldn’t you?
Here is my advice: set an anchor at a value 10% above the market median – but only if you are really willing to go the extra mile – and be flexible during negotiations.
The first thing you need to do is to be aware of the salary bandwidth that is based on the market value of the position.
For more than 30 years, Roger Fisher’s and William Ury’s bestseller ‘Getting to Yes: Negotiation Agreement without giving in’ provides Harvard’s finest recommendations how to lead successful negotiations. But do I have to take a whole course in negotiation techniques in order to get ready for my next negotiation?
Melanie Feldman, co-author of Bold: Get Noticed, Get Hired, and Anna Schuliger, have reinterpreted one of Harvard’s negotiation strategies - BATNA - in their online course for young job searchers Get Hired.
What does BATNA mean? BATNA stands for the "best alternative to a negotiated contract"-and means: never go to a negotiation without knowing your pain points/walk away limits in case your demand will not be met and without having a plan B in case the negotiation fails. Feldman and Schuliger further elaborate on BATNA by combining it with their 4-point salary-scorecard.
Before you start negotiating salary with your future employer, you should ask yourself the following four questions and summarize your points:
Add the number of points reached:
If you want to learn more about Martina Ernst, click here. Read more in our "Salary Insights - Let's Talk About Money" series and here.