Whats the best way to negotiate my new salary?

Question

I will be promoted at the end of next year(nov 08) due to my current bosses retirement.
Currently I'm at 48k per year and i started at 40k a per year 5 years ago. As his apprentice and the most experianced within our organization he and others in upper management have assured me the position is mine(I'll believe it when it's in writing). However his retirement coincides with a merger which everyone said will not change anything within our organization. With all that being said my boss told me not to take the job for less than 70k per year. With gaurenteed yearly raises I am willing to start at 70 a year but i would like a company paid car or truck(trucks go with the industry).

I have never had to negotiate my own salary, is it like other deals where i should start high and then compromise? Should I get professional advise? Do I mention the truck right at the beginning?

Answer 1

how much is the position worth to the company? what is the dollar value of the person to the company. for example, how much revenue does the person generate for the company. once you know that, negotiating the salary + benefits + car is logical, and much easier.

for example - lets take a lawyer. the lawyer's billable rate is $250 per hour. per year he bills 2000 hours and makes $500,000 for the firm. But, he will make lots less than that. the reason is secretary, other staff, benefits also factor into the equation.

do some back of the napkin type calculations. get friendly with someone from accounting who can help. start thinking like the boss now. increase your intangible worth to the company now. this also will factor in. good luck.....

Answer 2

You should determine what the range of compensation is in your field for the job you wish to hold. If this is a job promotion for you, then you need to be realistic about your worth. If it typically takes several years of positive results to get to the $70,000K plus automobile/truck level, then your new employer may very well reject your demands as unreasonable or, alternatively, establish a base salary and a bonus mechanism where you will be paid more for greater results than the minimum they expect of you.
You should do enough research into this matter that you can defend the total compensation package you are seeking as one that is reasonable under the circumstances.

Answer 3

Don't get too greedy. And if you give an ultimatum then be prepared to back it up.

The merger probably will affect things within your organization.

Do some comparable studies on what others in your position make and negotiate from there.

Answer 4

IT'S A PROMOTION! YOU DONT HAVE ANY ROOM FOR NEG. SALARY. IT'S NOT LIKE YOU ARE FINDING A NEW COMPANY. THE COMPANY WILL MAKE YOU AN OFFER. YOU NEED TO RESPOND TO THIS OFFER BY ASKING...."WHAT IS THE SALARY RANGE FOR THE POSITION?" YOU YOU GET ALL COCKY AND BLIRT OUT A NUMBER (85 G's miniumum) OR SOMETHING..THAT WILL MAKE YOU LOOK LIKE AN ***. THEN THE WILL GIVE THE JOB TO "LARRY" WHO EVERYONE F'ING CAN'T STAND!


good luck!