The Career Capitalist

The Money Trap - When to Talk Comp...

Talking compensation in the interview process is a minefield.  Appear too proactive on the money front, and you'll be DOA in the process, since many of the folks who are involved in the interview process are much more uncomfortable than you (the candidate) taking about the projected salaries... Ask too late (or not at all) and you risk blowing 3-6 hours of your life on an interview process that ultimately delivered an offer that is 70% of your minimum acceptable salary.  What do you do?  Hope for the best?  Hire Bob Sugar (see picture at right) to do the dirty work so you don't have to?

Here's a couple of regular flavors you'll deal with as you talk to companies about money:

A.  The target company will use technology to secure your salary needs - and never talk about it again.

B.  The target company will use tech to secure your salary needs - and engage you on it early in the process (perfect!)

C.  The target company waits until the interview process to ask you about money - then asks you for your needs early, in the middle, or late in the process (or a combination of points).

D.  The target company never asks you about money or shares compensation info on the job.  You're on your own skippy, if you want to know, you'll have to ask (worst case scenario for you, the candidate).

----------------------------------------------------------------------------------------------------------------------------

Here's a couple of thoughts about when to talk compensation to make sure you don't blow it on the money front:

1.  Use the application process and technology to tell your target company what you need - Many companies now have online application processes that include questions about your current and required compensation.   Figure out your position on the money issue, and communicate it via this channel.  It's a safe bet to assume companies which ask for this info are reviewing it before they call you - they don't want to waste their time any more than you want to waste yours.

2.  Be ready to answer the money question at any point in the process.  We talk about your 30 second message related to compensation elsewhere on The Career Capitalist, so get your talking points organized and be ready to communicate the message at anytime in a consistent, non-threatening manner.   It's one of several "elevator speeches" you need to have down cold to effectively move forward in any career search mode.

3.  If you pro-actively ask an employer about money, ask early and very late in the process, never in the middle.  If you have to engage the employer and ask about compensation for a position, do it on the first call you get, or late in the process when the next step is a likely offer.   Most companies you would want to work for will run you through a multi-faceted interview process, so don't put off the "influencers" or the "approvers" in the process by asking about money.  Often times these folks are in the process to ensure they can simply work with you, to see if the dialog is comfortable, etc.  Ask the money question and most of them will frame you as driven by money or worse yet, selfish.

 

USA Trails Most Countries in Family-Friendly Policies

A recent article in USA Today cites a study by Harvard and McGill University indicating the US lags far behind virtually all wealthy countries with regard to family-oriented workplace policies such as maternity leave and paid sick days.  Think Brad Pitt has to worry about time-off to attend to family matters?  Probably not.  You do - so read on.  Among the findings in the research:

• Fathers are granted paid paternity leave or paid parental leave in 65 countries, including 31 offering at least 14 weeks of paid leave. The U.S. guarantees fathers no such paid leaves.

• At least 145 countries provide paid sick days, with 127 providing a week or more annually. The U.S. provides unpaid leave through the Family and Medical Leave Act, which does not cover all workers; there is no federal law providing for paid sick days.

One important point - the study is citing a lack of Federal Law mandating these benefits - employers in the US always have the right to offer these benefits - in true capitalist fashion, if the market makes these benefits part of a competitive advantage, the best companies will increase what they offer.

At Source Medical, we've used our Time-Off Policies and Benefit Design to offer a great package that supersedes the need for a law.  We have Short-Term Disability designed to provide income protection for qualified leaves up to 90 days, and our Time-Off Polices include 17 Vacation/Personal Days and 10 Sick Days annually (total of 27 days).  With that in mind, we have a package that clearly eliminates the need for this type of law.  As we talk to candidates, we feel this benefit level offers a competitive advantage in recruiting new associates and think its good from a productivity standpoint as well.

When comparing opportunities in your career search, make sure you talk Total Compensation, not just a base salary.  Is there a clear winner among the companies you are looking at in terms of work/life balance?  Make sure you factor that into your decision.  Brad doesn't have to - you do...