How do you respond when an interviewer asks: “What are your
salary expectations?”
For many anxious job seekers, it’s no doubt a little easier
to think a number than to say one. This is especially true if it’s your dream
job that’s being served up and you don’t want to spoil your chances of
employment.
“It’s alright to ask for a little more money,” says Randy
Goldberg, Executive Director Recruiting, of Hyatt Hotels Corporation. “But in
my opinion don’t veer too far off from the original offer.”
The most important thing is to understand the corporate culture.
Research the company and its reputation in the hospitality industry. Is the
company competitive with salaries and wages? Do current employees have good
things to say? If it’s all smooth sailing, then question whether you want to
rock the boat with a bid to increase your pay.
“I want to hear from a candidate that salary is important,
but not the most important factor in his or her decision-making process,” says
Jason Lessman, Manager of Corporate Recruiting, of Boston Market. “If they make
salary or wage the number one factor, than they are more likely to leave you as
soon as they find a slightly higher-paying job.”
Why may you negotiate?
People negotiate salary, benefits, bonuses and compensation to
ensure financial stability and job satisfaction. The negotiation process is
tricky and time-consuming. Self-confidence is a prerequisite. Negotiations
involve researching, strategizing, goal-setting, communicating and
decision-making. But don’t fret. Hard work pays off.
Who may negotiate?
Never make demands unless you are in the position to do so.
Goldberg notes that most hourly positions in the hospitality industry are
fixed, whereas management positions offer more room for negotiations.
When may you negotiate?
Most interviewers are going to bring up salary early on in
the interview process. This means you should have already done your research,
comparing pay and work conditions for similar positions in the hospitality
industry. Find out what the salary range is, or suggest a range.
Goldberg sheds some light: “It doesn’t do the interviewer or
the interviewee any good to go through the entire interview process if the two
parties are not in some basic agreement regarding salary. If you are not asked
by the time of the first interview I would suggest that you ask what the salary
range is for the position that you are interviewing for.”
How may you negotiate?
“Candidates may also want to reiterate their relevant
education and experience before quoting a salary. It may help to offer a range,
or to say that you are flexible and will consider a fair offer for the right
opportunity,” says Kate Laing, Human Resources Manager, of Pacrim Hospitality
Services, Inc.
What can you negotiate?
1) Salary/Wage
-The subject of money
Money is one of the reasons you take a job. Are you
satisfied with the proposed offer? What is the length of your contract and
probation period? How long until a pay raise? How content are the other
employees?
2) Benefits
- Medical,
life and disability insurance
- Vacation
days and pay
- Sick
days
- Personal
days
- Vehicle
mileage, gas and insurance
- Continuing
education and professional training
- Professional
or club memberships
Benefits will depend of course on your terms of employment.
Whether you are fulltime, part-time, casual or contract makes a difference.
3) Other Benefits
- Stock
options
- Signing
bonus
- Performance
review bonus
- Incentives
- Discounts
on hospitality services
- Severance
package
Such benefits are usually more applicable to higher paid management
positions.
4) Moving Compensation
- Flights
- Moving
van fees and shipping
- Hotels
or temporary accommodation
- Closing
costs of buying or selling a home
Relocation costs are not always covered, but if you or your
position is in demand then take advantage. Companies understand that it’s
pricey and time-consuming to move. They just might need to be reminded of it.