MSEJ June 2016 | Page 10

ASK the Expert

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By Amy Rossi

Q: How do I answer the salary question?

A: There is no perfect answer to the salary question. Each situation, location, and company will be different, and you should always tailor your approach. To develop your strategy:

1.You must do your research—know your salary range.

2.Base your negotiations on an analytical perspective—what is the local market paying? What is your personal break-even point?

3.Remember that a company doesn’t consider your personal, individual worth as a factor when it comes to salary—doing so would be unethical and potentially problematic due to discrimination laws.

While you will have your strategy, the company will have its own. It must consider:

1. Competitive wages of similar positions in the area (a strategic decision to attract talent)

2. Their internal pay bans and regulations (factors that are regulation based, e.g. what amounts are compliant with fair pay laws and company policy.)

3. A comparison of all candidates vying for the position (What is the potential return on investment and the cost to bring the candidate on; how will these cost factors compare with pay and predicted length of time in the position?)

We have published several articles in the past about compensation and negotiation. When it comes to creating a salary strategy, the best advice I can give is to stop repeating the mantra “know your worth.” For salary negotiations, a better mantra is “know your break-even point, and know your (salary) market.”

Whatever you do, resist the urge to yell, "Show Me the Money!"

"For salary negotiations, a better mantra is 'know your break-even point and know your (salary) market.'"

For more on salary, check out Peeling Back the Curtain on Salary Negotiations and

this Ask the Expert!