How to Deal with the Money Issue (Advice to Candidates)

Employers want to get as much as they can from their employees for as little as possible, and employees want to do as little as they can for as much as possible. This truism inevitably leads to difficulties when it comes to discussing money at interviews.  However, there are ways you can arrive at the much-desired win-win position i.e. a satisfactory job offer, with no ill feeling on either side. In some circumstances, a precise salary scale is in operation: public/ institutional jobs.  But in most private companies, nothing is written in stone, whatever seems to be the case at first glance. Companies very rarely advertise salaries, preferring to ‘keep their powder dry’.  Employment agencies on the other hand, generally advertise the maximum salaries available, in order to attract a large number of candidates. Before you start job hunting, do your sums very carefully.  Calculate the minimum salary you can accept, and still pay your bills.  Obviously you will try to get much more than your minimum, but you – and everyone else (employers and agencies alike) – must know the point at which you will be compelled to ‘walk away’ from a job offer, no matter how wonderful the job is. Next – again, before you start job hunting – think through the things that are important to you about your employment.  Write your thoughts down.  Be prepared to amend your ideas as the process unfolds. The significant aspects to employment might include:
The job itself:  Is the work interesting, fulfilling, challenging etc.  Will you get up in the morning glad to be going to work?
Opportunity to learn:  Ideally the job should be one you can actually do, but yet gives you the chance to develop your skills.  Will the company provide structured training, or support you if you wish to study outside of work (either financially, or by giving you time off).
The company: is it secure, as far as you can see.  What is its reputation in its market?  Might it be the target of a takeover?
Your boss:  Could you work with this person – possibly for the rest of your working life?  Do you like him/her?
Your colleagues:  Will you ‘fit in’?
The pay:  Is it above your minimum?  How does it compare with your current or last salary – taking everything else into consideration as well?
The benefits:  Remuneration can take a wide variety of forms – many more valuable than you might think: commission (open-ended, or capped?), bonus (related to your, or the company’s performance?), additional payments, pension contributions, sickness benefits, insurance, life assurance, car, travel allowances, discounted products, cheap food (subsidised canteen, luncheon vouchers), sports/social club membership, home telephone/other expenses paid, relocation assistance, and so on.  Don’t be bamboozled into accepting or rejecting a job on the basis of the salary – the bare number – alone.
Holidays: Are there enough?  How restrictive is the company about taking long/short holidays, or holidays at short notice.  Could you take extra holiday unpaid?
Hours of work: Are they satisfactory?  How easily could you arrive late/leave early – should you need to (if, for example, you have family to look after).
Geography: How long will it take to get to the job?  A daily commute of over an hour will be very tiring, and a waste of time and money. 
Relocation:  Do you want to relocate at all?  Is the idea of living in the new area appealing?  How will moving affect other issues – childrens’ schooling, employment opportunity for your partner, employment opportunity for you, if you are unfortunately made redundant.  Will the company pay for/assist with the relocation expenses?
Prospects:  Does the new job give you the chance to develop in your career?  What is the evidence for this? (Perhaps the job is open because someone has been promoted).  How likely is it that your new boss will ‘move on’ in due course?
Travel: Is travel involved in the job, and how important is this to you, one way or the other?
Ambience: What is the workplace like?  If you have to sit for eight hours a day in an office, you’d better like being there!  Temperature, natural light, noise etc are all factors to consider.

There are many aspects to employment, some more important than others, depending on the individual.  Just as employers often draw up a ‘candidate specification’ listing characteristics they require under two headings: essential, and desirable; so, you could do the same.  Compare prospective employment with your current or last employment.

Ultimately, instinct plays a large part in decisions that are made about employment (from both perspectives), with the largest part of the decision being the personal feeling about the boss/worker relationship: they like one another.  If that’s in place, a lot of other things can be forgiven, or worked out as time goes along.
But a lot of people take a job because it ‘feels right’, only to find that there are a number of issues which come to light later on, which potentially create problems.  And as soon as the employment doesn’t ‘feel right’, these issues will become magnified.

So, it’s important when you accept a job, that you a) know where you stand in respect of all the issues that are important to you, and b) are happy with the job even though you have to travel for two hours to get to it, or whatever.

Getting back to the money issue, you must accept that your current wage is effectively a matter of public knowledge.  Your prospective employer has a right to ask your current or last employer exactly what you have been paid, before a firm offer is made.  So there’s no point in hiding, exaggerating, or lying about your current/last wage.

If you are unemployed, you are inevitably on weaker ground than if you are securely employed.  It may be necessary to accept a wage closer to your minimum than you would if you are in employment.  On the other hand, you may be earning a fortune, but are desperately unhappy, in which case you might be glad to accept your minimum, just for the chance to get away from the hellhole you are in.

If you are in employment, you have no right to expect the same wage as you’re getting, or even more so, an increase.  Assuming you’re secure in your employment, then presumably your employer is paying you £X because he/she thinks you’re worth it.  But to the prospective employer you’re the new guy/girl – untried and untested, so why should he pay you the same as you’re on?

On the other hand, you may be the only Chinese-speaking rocket scientist in the country, in which case you can call the shots.

Generally – and this is borne out in reality – employers might pay less at the outset, for the reasons given above, but within a short time (a year or less) they will be paying you at or above the market rate, depending on how much they value you, because they know that if they don’t, someone else will tempt you away.

The law of supply and demand controls the whole process.

So what can you make of all this?  Well, the basic rules are these:

• Be realistic (nobody owes you anything!)
• By all means ask for what you want, but be prepared to accept what you get
• If you are secure in your employment, it is generally seen as acceptable to expect a 10-15% pay rise, if you are transferring to a similar job.  If you transferring to a different job, the same rule does not apply!
• Be honest about your current earnings
• Understand that advertised salaries are often the maximum, and do not be offended if you are offered less. Employers will offer the minimum that they think they can get you for.
• As far as possible in interviews, avoid stating what you want to be paid.  Let the employer make an offer, then you can make up your own mind (weighing up all the factors, as above)
• If you are pressed to state your salary requirement at any stage other than the final stage in the process, try to hedge the question: I’m sure if I’m the right person for the job Mr Employer, you’ll make me a fair offer!
• Remember, that if you name a low number (in order to make yourself more attractive to the employer), you will be very lucky to get any more than that.
• In a final interview, if the employer asks you what you want to be paid, you should test him/her out: Are you offering me the job? If the answer is No, then you could say Well, I’m sure that would be the correct time to discuss money!  When will you reach a decision?
• If the answer is Yes (good news!) then you obviously have to thrash out an agreement.  You should inform your prospective employer of your last salary, possibly the minimum you can accept, what you are hoping to be offered – both in terms of basic salary, and (if commission/bonus is available) the whole package.  Do remember to explore the whole raft of benefits (as above) and weigh up the value of each benefit.
• If the answer is Yes you can be sure you are on much firmer ground.  All employers struggle to find good employees, so that you have been told he/she wants to employ you is a good sign.  But there are limits – don’t push you luck too far.
• By asking for a pay review to a specified level, at a specified time, against specified performance targets, is a very good way to reach an acceptable compromise.  But be sure to agree these points, and insist that they are put in writing.
• If you have been introduced to the prospective employer through an agency, you have the right to pass responsibility for negotiating the salary to your agent.  This is perfectly acceptable – and indeed is one of the very good reasons why employers and employees alike choose to use agencies.  However, if you are interviewing for a commercial role, where negotiating skills are required, it might seem a little bit wet to pass the buck.  But in all other cases you should feel free to say I am delighted that you are offering me this job!  In principle I accept, but please contact my agent to discuss the finer details.

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A Walk on the Wild Side

Taking advantage of statistically unlikely but extremely welcome autumnal warmth and sunshine, the Editor tramped 50 miles in three days at the begining of October along Britain's oldest road, The Ridgeway http://www.nationaltrail.co.uk/ridgeway/index.asp, from Avebury to Goring-on-Thames. Apart from acquiring a couple of blisters on my city-soft feet, I am compelled to recommend this place to anyone with a love of the countryside. The trail crosses an area of astonishing natural beauty, and apart from a wide variety of rare birds and other wildlife, one comes across - for example - Wayland's Smithy, a 5000 year old burial chamber, and of course the famous White Horse chalk hill icon at Uffington.

Whether or not you (gentle reader) are interested in tramping like your intrepid editor, I can wholeheartedly recommend two absolutely wonderful Bed & Breakfast hostelries: The Old Forge at East Kennett http://www.theoldforge-avebury.co.uk/html/the_house.html and Prebendal Farm in Bishopstone http://www.prebendal.com/. The charming and delightful Jo Selbourne is a hostess to behold. Anyone who puts beer in your hand within one minute of arriving after a twenty mile hike, is mighty fine by me!

Or, if you just want to drive yourself bonkers, try this: http://www.news.com.au/perthnow/story/0,21598,22492511-5005375,00.html to discover if you're an artsy or a sciency sort of person. But don't blame me if you're subsequently sectioned!

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ELRIG Exhibition an Outstanding Success!

Life Science Sales Division Manager Scott Peacock and two of his trusted hench people represented Seltek Consultants at the recent ELRIG Exhibition in Nottingham. They reported that the event was well attended, and extend their thanks to everyone who extended courtesy and time to them. A lot of people visited us at our stand, and competition to win the world famous BioChallenge competition was fierce. Winner of the first prize - the amazing Nintendo Wii - was Steve Hands of ThermoFisher Scientific. Second Prize - a bottle of fine champagne - was won by John Fink also of ThermoFisher Scientific. Clearly Thermo instil lightning fast reactions in their staff!Third prize - a box of sumptuous chocolates was won by Melanie Logan-Smith of Ferring Research.

Congratulations to the winners, and thanks to everyone who participated.

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It's a boy!

Seltek happily announces the arrival of a bouncing boy!  We welcome Nick Mitchell as the latest addition to our burgeoning staff.  Nick joins us as a New Business Consultant.  A pharmacology graduate from Newcastle University, Nick is made of unusual mettle:  “Sport is a major part of my life. I surf, scuba dive and was one of the youngest qualified freefall sky divers in the UK. I enjoy travelling and recently completed the 2007 Mongol Rally. This entailed driving a third of the way around the world in a 22 year old 1 litre Suzuki to raise money for Mercy Corps.”  Rather him than us, we say, but we’re glad to welcome his energetic spirit to the Seltek family.

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