Write down an 800 word essay I need assistance with developing the scenarios not the essay itself. Needed is a 250 word scenarios showing how I would negotiate a salary in Management Consulting utilizing the techniques described in the articles.
The U.S. State Department gives its employees many helpful tips for negotiating an industry-standard salary. In this assessment, read and analyze those tips and then demonstrate that you can use one or more of them in a scenario of your own creation.
Write a paper with a length of 800 words minimum that meets the following guidelines:
Choose at least two of the techniques described in the U.S. State Department article "Negotiating a Salary Package" and describe them in your own words.
Write a 250-word scenario that shows how you would use two or more of these techniques to negotiate an industry-standard salary for a job for which you might likely interview. The scenario should:
Be creative
Set the scene
Describe how you would approach the employer
Show how you would use these salary negotiation techniques to get what you want
Include an APA title page as well as spell check and proofread your work.
Case scenario: Negotiating Salary in a Bad Economy
Despite lagging consumer and business confidence and Thursday's dramatic market tumble, Friday's unemployment report demonstrates that some companies are still hiring. The U.S. created a net total of 117,000 non-farm jobs in July, notching the unemployment rate down one tenth of a percent, to 9.1%. Some sectors like technology are even struggling to fill all their open positions. In fact the private sector created 154,000 new jobs last month, offset by the elimination of 37,000 government jobs, mostly at the state and local level where budget shortfalls have prompted cuts.
In other words, despite the debt ceiling bill's dampening effect on the employment picture, job seekers continue to land new positions. Though it might seem a strange time to release a book on how to negotiate salary, it's worthwhile to bone up on the latest thinking about strategies for landing the best possible compensation package. A compact and entertaining new book by Wired's associate director of marketing, Jim Hopkinson, Salary Tutor: Learn the Salary Negotiation Secrets No One Ever Taught You, lays out some of the basics in an engaging style.
The best part of this slim volume is Hopkinson's personal story about how he went from college grad with a degree in Computer Information Systems to unpaid intern to clerk in Staples' computer department, on to several more jobs that culminated in his current post in the marketing department at Wired, a division of Conde Nast. He peppers his narrative with first person anecdotes about his career decisions, and lessons he's learned.
The most novel aspect of Hopkinson's approach: he recommends preparing a single-page document he calls the IRS, or Industry Research of Salaries, that takes into account salary data from websites like Salary.com, Payscale.com and Glassdoor.com, and from personal networking.
He even suggests candidates hire a designer to prepare the IRS sheet, which would graph the salary range for a position from low to high, and list details about achievements (including years of experience and skills like "accomplished speaker"), specifics about the job (eg. Seattle area, manage a team of 3) and information resources that the salary information sources.
To me, this exercise seems like overkill. By all means, candidates should do plenty of homework and research the salary range for a position in advance. They should also give serious consideration to salary goals and limits, and what sorts of perks, like vacation, benefits and flextime, they would be willing to trade for money. But the most important rule of salary negotiation is the one Hopkinson notes in another chapter: The candidate should not be the first to name a number.
Hopksinson helpfully covers how to fill out applications that try to force job seekers to name a number. In the blank where it says "previous salary," he recommends writing, "competititve." Where an application asks for desired salary, write "negotiable." Hopkinson advises that even when applications say, in all caps, "APPLICATIONS THAT DO NOT INCLUDE FULL SALARY HISTORY WILL BE DISCARDED," do not fill in the blank with a specific number.
The way around this demand is through networking. Find someone at the company who can put your application into the hands of a hiring manager.
Hopkinson also includes some helpful suggestions on how to answer salary questions in an initial interview. When the human resources rep asks about your desired salary, you can say, "Well, I've actually done a fair amount of research while preparing for this interview… what I found is that there was a pretty wide range depending on a number of factors, and I'd really need to have the full picture of all the responsibilities before I know what that range is."
A creative response to the what-were-you-making question: "Well, the reason I didn't list my previous salary on the application is that I've been freelancing since I was laid off, and the compensation for that would equal $200,000 if you calculated it annually." Hopkinson also points out that at most large companies, employees are issued policy handbooks that include the instruction that employees should not share sensitive company information with the public. If the HR rep presses you and says she can't move you on to the next interview without knowing your current salary, you can say, "I'm sorry but the employment contract I'm under with my current employer does not allow me to reveal my compensation. However, I'm sure that when the time comes to discuss salary, we won't have a problem settling on a number we can both agree on."
For Hopkinson, the crucial stage of the salary negotiation process comes after the potential employer has named a number. He recommends that candidates always try to push the offer higher. One strategy, when you're offered a range, is to take the top number in the range and then just repeat it and add the word "hmmm." So if you're told the position is budgeted at $65,000 to $75,000, your response would be, "$75,000, hmmm." Hopkinson encourages candidates to push for a higher number, while emphasizing their experience and accomplishments. Negotiate for perks like title, benefits, bonuses, vacation and period salary reviews.
Reading through Hopkinson's book, I noted the two stories we've run on salary negotiation. I think he'd agree with our tips. Here are two slide shows on the topic, with a total of 16 pointers.
By Susan Adams
Scenario: Negotiating a Salary Package
APA Citation information:
U.S. Department of State. (n.d.).
https://www.state.gov/m/dghr/flo/c21638.htm
Why are there so many consultants making a living by advising clients on how to negotiate a salary package? The answer is simple; the process is complicated and most job seekers need further coaching when it comes to closing the deal. Instead of saying "OK" to an offer, it may be beneficial to pause and say "HMMM."
According to Jack Chapman, the well-known career consultant, telecoach, and author of Negotiating Your Salary: How to Make $1,000 a Minute, this single technique enables more people to negotiate a better salary than any other. In other words, don't jump at the first offer. This single technique along with the following information will assist you in obtaining the most favorable compensation package.
Salary negotiation techniques can be divided into several categories: Techniques to use when the employer first broaches the subject of salaryYour first response should be to repeat the amount of the offer and then remain silent as if you are thinking about it. This lets the employer know you heard the offered amount and you are considering how to respond. Mr. Chapman calls this hesitation the "flinch." Once you are ready to begin discussion, talk about your past experiences and have ready a list of what you have to offer. Be sure to address any doubt that may have been raised about your suitability for the position by maximizing your skills, abilities and experiences.
Be prepared and informedThis includes knowing just how badly the employer needs to fill the position for which you are being considered. This information lets you know how hard you can press for a better salary offer. Most importantly though, you must have conducted comparative salary research. At the end of this article you will find a list of excellent resources where salary research can be obtained. This information will allow you to determine your market value in the profession and geographic area in which you are applying. Armed with this information, along with your own salary history, you can determine at what salary level the market values your experience.
BehaviorsThere are several behaviors that you should demonstrate when meeting with a perspective employer. These include a demonstration of excitement for the job - show your enthusiasm! The employer needs to know you are serious about joining the organization. Be careful to not bring personal needs to the discussion; make it a discussion of why the employer needs you. Make it a friendly experience because if you decide to accept the offer, this individual will very likely be your new boss.
Therefore, during the salary negotiation, demonstrate through your words and actions that you already consider yourself a part of the team. Remain calm and poised but be creative, flexible and, most importantly, professional.
Discussing the salary offerFinally, there are several things to consider when discussing the salary offer. First, you should be prepared with options. Most employers are willing to negotiate, but they need to know you are also willing. Be sure to have established your absolute bottom acceptable figure and be prepared to walk away if necessary. You may have to explain your salary history or use it to justify the desired salary.
Be prepared with facts and figures. Anticipate any objections the employer might be able to raise and be prepared to justify your cost
effectiveness. Negotiating a salary package reconfirms to the employer that the decision to hire you over other applicants was the right choice.
Make intelligent, well-informed salary statements and be sure your requested salary range is within the market value for your profession in the geographic area.
• Present a salary range that demonstrates your knowledge of the local market value.
• When requesting a salary range be sure to include a record of your contributions that defend the amount of compensation you are
requesting.
• In salary negotiations demonstrate the benefit to the organization in paying you more.
• Be realistic in the amount requested.
• Be sure to include other types of compensation that would be valuable.
• Address the interests of the boss, therefore, know the interests of the boss.
• Proposal should be grounded on objective criteria.
The above techniques are valuable in a salary negotiation anywhere in the world. It is important that spouses of Foreign Service employees remember to focus on a couple of additional issues. Inevitably the short period of your availability will be a concern, but you can turn this into a positive by demonstrating how much your experience will bring to the position or organization. Additionally, the lower cost of employing you can usually be a positive influence because you would not require the same benefits package that a local hire would. The lack of any relocation costs and concerns with labor laws guaranteeing long-term employment should weigh in your favor and be used in your negotiations. Finally, remember that in more than one hundred thirty-seven countries you have the legal right to work and can obtain the necessary working papers with few or no problems.
If the organization, professional field or specific position you are pursuing will benefit by your U.S. training, education, and/or experience, be sure to emphasize these assets when negotiating. This is particularly true for teachers. Many international schools offer different salary packages, depending on whether the teacher is hired locally or in the United States. Learn what salary options are available by the school before accepting a salary offer. You can negotiate, but you must begin by responding to that first offer with "HMMM"!
Salary negotiation is an integral part of a successful job search. By applying the techniques and behaviors described here, you too, can
negotiate a more attractive job offer.