Plan Ahead

Don't allow yourself to be caught in a scenario in which you have no idea whether or not the salary being offered to you is reasonable. Do your research and know your market value in advance. Don't expect the employer to automatically offer you your "fair market value."

How can you find out what your fair market value is? There are many information resources available to you:

• Salary surveys – Various government and private sector organizations keep tabs on the prevailing rates of pay for different industries and specializations. For example, the Yoh Index of Technology Wages, which tracks pay rates in the high tech sector, is one of the resources used by HR departments in Fortune 500 companies to determine salaries. You can find salary surveys relevant to your field on the Internet, through career services offices, and through public libraries.

• Industry and professional organizations – These organizations track salary information for their members, but oftentimes will share it with the public at no charge. Locally based organizations are especially helpful in learning about prevailing pay rates for the area you live and work in.

• Talking to people – Salary information is one of the benefits you can gain from networking with people who work in your professional field. You need to mind your manners when you ask someone for this information – "Would you mind telling me what the salary range might be at your company for someone with my qualifications?" is more likely to get a cooperative response than "How much money do you make?" – and you should be aware that people might give you vague or inflated figures for their own income. Still, your peer group is an excellent source of information about what you can expect in terms of pay, benefits, working conditions, and prospects for career advancement.

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