Tuesday, September 24, 2019

Salary Negotiation Essay Example | Topics and Well Written Essays - 1000 words

Salary Negotiation - Essay Example The service of professionals has a market value that is measured based on the median pay of professionals with similar educational and professional background which is a baseline that helps a person determining how much labor of a person is worth. This essay discusses various strategies a professional can utilize in the middle of a salary negotiation and analysis the scenario of the person with a salary demand with counter move of the firm mentioning a specific budget for the position which is lower than the professional’s minimum salary demand. The salary negotiation scenario has many alternative solutions the person can choose to gain an upper hand and maximize the salary offer from the employer. The first argument that must be brought to the negotiating table is the employer’s improper conduct of setting up an interview with full knowledge of the minimum salary requirements to then bring a wild card of an alleged company budget for the position. The time of a person is worth money, the interviewee’s time is subject to the economic law of opportunity cost which stipulates that the value of a person’s time can be measured by comparing what the person could be earning if he were doing something else (Varian, 2003). There are online sources that allow a person to determine their market value based on multiple variables such as experience, education and geography. The website Salary.com provides in depth free reports about thousands of job profiles. For example an accountant with cero to two years of experience is categorized an Accountant I; this category for professionals living in the state of Florida has an average salary of approximately $37,000 per year (Salary.com, 2008). In the salary negotiation scenario the person with the salary demand should have based his initial minimum requirements on the median salary for his profession based on a verifiable source. When the company came with the salary

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