May 24, 2012 • In web :: Features
The art of negotiation
Tips and tools to negotiate fair compensation for your labour.
Continued from page 2
If you’re breaking into a new industry, check out industry comparables as a benchmark. Many industries have associations or governing bodies that release information on average wages. For example, the International Association of Business Communicators surveys its members and reports on salary data within the communications industry.
When delving into a company or organization’s financial structure, there are a couple useful websites to get you started. If the company is public, you can check out their annual report for financials. To figure out if a Canadian company is public, visit Sedar and search the database. If you compare their earnings year over year, you’ll see whether or not the company has grown and if there is a strong foundation for bonuses and generous wage increases.
Also figure out whether or not a company is unionized. If so, there is likely less room for salary negotiation, but a unionized job will likely offer a desirable benefits package. It may also mean a stable, secure job for years to come or an opportunity for employer-paid education.
In industries like social services, it’s not uncommon to be offered employment with an hourly wage. If working with this structure, inquire within your company about benefits packages and salaries for full time employees and make it known that this is your eventual goal. This not only shows initiative, it will also lead you to more of a stable income structure in the future.
Apart from research, if you have the opportunity to talk to or be mentored by someone in your industry, take it. Many established professionals are open to mentoring new grads, and there is often no better way to hear about great jobs. There is a good chance that an industry veteran will know the reputations of the companies in their field, i.e. who treats employees well and gives reasonable benchmark salaries.