Re: salary negotiation
This is a very interesting thread.
I've been the employer for the past 9 years or so. Most of my employees make somewhere between $11 and $20 per hour. Management makes more. Some observations:
1. Hourly wage earners have some type of mental disorder that ties their self-esteem into their hourly wage. Its insane. You can do an annual review and offer them the choice of a $1 per hour pay hike or a $3000 bonus with a review and possible raise in 1 year and they will take the $1/hr every time.
2. I agree completely with the idea of stating the entire compensation package. Here would be an example:
Wage $15/hr x 2000 = $30,000
Paid vacation: 2 weeks at $15/hr $ 1,200
Health Insurance $ 3,000
Dental $ 500
LT Disability $ 120
401(k) match $ 900
Employers FICA share $ 2,000
Employers Medicare share $ 435
Yearly Merit Bonus $ 1200
Xmas Bonus $ 700
TOTAL $40,055
which, on an hourly basis is $19.25 per hour, about 25% more than the "wage" the employee is receiving. Most wage earners have no clue how much it really costs the employer to keep the employee. I find it eye opening (in a good way) to lay all this out.
3. I completely agree never to state the desired number or starting point first. It puts you at a major disadvantage.
|