About my raise ... how to ask for and get more money.Yuri Brown landed her first job after college at Merck Pharmaceuticals. She earned $40,000 and never thought about negotiating for a higher salary. When she decided to switch careers from sales to human resources--without a context for what the market demanded, Brown began researching industry magazines and compensation guides as well as discussing salary levels with other HR professionals. Her first human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. position brought a $10,000 pay cut. However, she convinced her boss to reassess reassess Verb to reconsider the value or importance of reassessment n Verb 1. reassess - revise or renew one's assessment reevaluate her pay after a six- to eight-month performance evaluation Performance evaluation The assessment of a manager's results, which involves, first, determining whether the money manager added value by outperforming the established benchmark (performance measurement) and, second, determining how the money manager achieved the calculated return . She gained the $10,000 after eight months. "If you ... have demonstrated a certain level of excellence, you are in a better position when you ask for more," says Brown, who today is director of consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" for the Hudson Inclusive Solutions, a division of the Hudson Highland Group in Chicago. "Many people are reluctant to ask for compensation," says Dr. David A. Thomas, professor of business administration at the Harvard School of Business. To get a clearer idea of how much you should be earning, you have to examine how your company pays relative to other companies, taking job title, size, and the location of the organization into consideration. "Make sure you are comparing apples to apples," says Keith Fortier, a certified compensation professional A designation as a Certified Compensation Professional (or CCP®) signifies a mark of expertise and excellence in all areas of compensation throughout the human resource and global rewards community. The CCP designation requires a passing score on nine examinations. and director of compensation at Salary.com, a Website that offers salary reports. In most, companies, "the employer wants to keep you within 50% and 75% of [your salary range]," explains Lois P. Frankel, Ph.D., author of Nice Girls Don't Get the Corner Office (Warner Books; $19.95) and president of Corporate Coaching International. The range can be provided through the human resources department. "If you are at the top of the range, you need to be looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a promotion, not a raise," says Frankel. "Certain jobs are not going to pay more than what the job is worth." Knowing the salary range for your position gives you a basis for any rejection that you might experience, says Thomas. "If you are at 75% [of the salary range for your position] but want to be at 90%, you feel better about that rejection than if you a re at 25% and had asked to be raised to 50%." Fortier suggests never approaching compensation requests with entitlement An individual's right to receive a value or benefit provided by law. Commonly recognized entitlements are benefits, such as those provided by Social Security or Workers' Compensation. in mind. You have to show achievements in the past 12 months that merit an increase. Should you ask for more money from a company that is doing poorly? Says Fortier. "Keep in mind that companies need to pay employees equitably eq·ui·ta·ble adj. Marked by or having equity; just and impartial. See Synonyms at fair1. [French équitable, from Old French, from equite, equity; see equity. no matter whether the economy is a great or bad one ... because they can lose employees to competition." |
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