1/ Search Salary Range
Singapore Average Monthly Wages
Understanding Labor Statistics from Singapore Government
Singapore Yearbook Of Manpower Statistics, 2015: Income, Wages And Earnings Table(s)
Understanding Singapore Salary Range/Guide from Recruiting Company
2/ Your Expectation V.S. Reality Salary Range
Your personal lowest salary range: to support your basic life
Your personal highest salary range: to support the life you want
Reality lowest salary range for your desire position: ?
Reality highest salary range for your desire position: ?
3/ Your Priority
Research company available benefit from website/ job description:
Select which is important for you, and set priority: Education/conference, fair, relocation, travel expense, housing, salary, retirement, healthcare, flexible time, travel time, bonus, parking, transportation
4/ Offer your strength to HR
For your position,
What company seek/expect?
What you did offer?
Which strength, you meet? Not meet? Exceed?
If Exceed expectation > main strength to discuss with HR
If Meet expectation > give example
If below expectation > share positive plan
5/ Write a Negotiation Story
Exceed > Achievement?
Meet > Bring what value to company?
Your priority need?
Practice with friend who pretend to be employer
6/ Review the Offer
Review offer in writing
Ask HR when to reply back?
Clarify priority question, or flexible hour meaning?
7/ Negotiation with HR
Not a competition, but a collaboration
Enthusiastic talking your value (merit/skills/qualifications) to company
Salary research VS expect salary > if not possible with salary, be understandable, move to other priorities, or ask how is salary review process for your expect salary by great performance?
Ask updated written offer by comfortable way for you and HR
8/ Negotiate with current employer
Prepare: achievement, additional work, new skill
Your position competitive salary range
If employer say no > negotiate other benefit, or time line to achieve your salary
9/ Salary History
What is your expected salary? From previous experience, I expect a competitive salary. What is your expect salary for this position?
Equity: non-cash compensation, in the form of interest/ownership in the company
Stock: partial ownersip
- preferred, get pay first > executive level
- common, rest/last to pay > normal employee
- stock options = vesting, get ownership of stock after a pre-determined time period, ex. 3-5 years, sometimes with Vesting condition which need to clarify with HR
- Dilution of stock: stock value decreased by increasing stock number
11/ Additional Reading
Richard Shell, Bargaining for Advantage
Getting to YES, Harvard Negotiation Project
The Wall Street Journal