Week 9 - MKTG349 - Performance, Profitability and Growth

Performance of a system is what will determine the success rate of profitability and growth. The platform must be strong fundamentally established to with hold through it all. This can apply to anything you create. can also go into the job aspect. Before accepting any job, it is fair to ask about salary. Never assume that you will be given a fair wage. The employee will try to pay you the lowest it can to save money and if you don’t negotiate you can end up working at a job making $20 per hour where as if you would of negotiated you could have been making $32 per hour. I don’t want this to happen to anyone so we need to put the fear aside and learn how to negotiate the salary wage.

1. From the beginning, the employer knows the highest figure they are willing to pay you but they will try to get you for less to save money. Whereas you are trying to take the most capital you can home.
2. Never be the first one to mention a salary figure. You want the employer to be the first because whoever mentions a salary figure first, usually loses. If asked by the employer what figure you are looking for, the best response would be: “Well, you created this position, so you must have some figure in mind, and I’d be interested in first hearing what that figure is.”
3. It would be ideal to do some research on typical salaries for the field of interest and in the specific company/organization you are applying at. You can gather this typical information in a few days and it can benefit you in the long run. This will give you an advantage in the negotiating process because you now have an idea of what range salary you are working with. The research can be done online or off the internet (books, talking to people, or work agencies).
4. Once you researched what the employer likely has in mind to other you within a range then define an interconnected range for yourself that is relative to the employers range. This way you are more likely to reach the employers highest salary offer. It’s a clever and risky task that will take some work but will be beneficial at the end.
5. In the salary negotiation, fringe benefits must be discussed before closing the negotiating process. A fringe refers to life insurance, health benefits, vacations, retirement programs and so on. So keep in mind in order of importance the fringes you would like to negotiate. Once the negotiating processes is done make sure to get the terms that were agreed upon on paper and have it signed by both parties. This is your letter of agreement. 

Now that you have these tips at your disposal make sure to implement them into your negotiating plan and get the highest salary possible. The more prepared you are with research and a plan getting into salary negotiations; the more comfortable you will be negotiating with the employer and hopefully bring more money into your pocket.