Everyone knows the story of their sister’s best friend’s cousin’s roommate from college who took a new position and raised their salary from $45,000 per year to $110,000 per year with a personal driver and a company jet. The AWFUL TRUTH is, that it didn’t happen!! Typically, in your current position you should expect an annual 3% – 5% increase plus either an additional merit increase or bonus, based on your level within the organization and your previous year’s performance. Many times these merit increases or bonuses will be based on a wide range of factors, many which you will have NO control over. When changing companies, on average, we see a 7%-10% increase. If relocation is necessary, the increase may or may not take into consideration a cost of living difference. It is not Greedy to ask for and require the amount of money it takes for you to support you and your family. However, if the money offered meets your needs, and the opportunity is going to further your career, then it is a sin for you to allow Greed to keep you from this great new job, because you heard someone, somewhere is making 10X more for the same position. The AWFUL TRUTH is, usually during salary negotiations, employers will end up paying more than they really wanted to and the candidate will accept less than their highest expectations.
©Copyright, 2009, Nicole Dukehart. All rights reserved. Used with Permission.
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