a hybrid case
Hello. Am hoping to get some advice on the impending job offer that may or may not be on the table.
Here's the background, i started work in a manufacturing industry dealing with marketing and logistics at a young age, didn't even complete high school. But I eventually went to college as a mature student and got my basic degree. I started on my first job (after uni) last year, but quitted 5 months into the job (backroom operation of a financial institution) as i was unhappy with what i was doing, and partly to care for a sick family member. It's been 6 months and I am now ready to get back into the workforce.
I went for an interview last month for a research position (financial media) after being successful in an online test. Thought it went well, but i received a rejection email 2 weeks later from the interviewer stating a lack of relevant experience. I politely replied the email, stating my continued interest and to keep me informed of any new position.
Now they sent me an email (1 month after being rejected) and ask me to go in for an 'informal' 2nd interview for that very same position. I suspect they might make me an offer and I don't know what to do. My last job was at entry level in a backroom investment house, but that only lasted for 5 months. Do I start the negotiation at a slightly higher range for this 2nd job? I had been told this is a profitable business by the 1st interviewer (who rejected me), and there are various benefits including profit sharing. Do I aim higher despite the fact that I am relatively a novice, but a qualified one? Can anyone share the industry salary range for a financial researcher (media)?
Thanks in advance.
This sounds like the sort of job where they are going to tell you what the salary is, not ask you what you want. Additionally, you have no experience in this field and haven't worked in 5 months. I really don't think you're in a position to try and negotiate. In order to negotiate, you have to have something that they can't get elsewhere and you have to be willing to walk away from the job if the negotiation falls through. I just don't think you're in that position.
Instead, I'd take whatever they offer (assuming they do) and then prove your worth while you're there. Build a career with them and work your way up over the next few years so that you'll then be in a position to negotiate down the road.
Tess
I don't think they're going to ask you want salary you want, but rather tell you what the salary offer is. Since you're not working at the moment, you really don't have much with which to negotiate. If the salary offer will allow you to pay your bills, make ends meet and, hopefully, improve your standard of living a little - take the job. If you can't make ends meet on the salary offer, you can politely ask if the offer is negotiable and see what they say, but if the job is anywhere near "entry-level" I wouldn't expect much negotiating to go on. On the other hand, whatever the salary offer turns out to be, assuming one is made, it will be a swat load more than you're earning now! It might be better to take the job to get your foot in the door and, over time, demonstrate through your job performance that you're worth more. Make sense?
Paul W. Barada
The Negotiation Expert
Thanks so much Paul and Tess.
After reading both your comments, I think I am indeed getting ahead of myself. It was a sudden case of an inflated ego there, about them contacting me for the new position after rejecting me initially.
I will probably get my foot in first before raising the bar.
But anyway, for curiosity's sake, does anyone know the industry salary standard for a financial researcher (media)?
Cheers.
Personally, I don't think there is such a thing as an accurate "industry standard" for financial researchers. It depends on what each employer thinks the job is worth to his or her organization. Furthermore, each individual employer will gauge the value of each individual job based on the requirements of the job, i.e. Does it require significant experience, or training, for just an entry-level position? Are there intermediate levels of responsibility for, lets say, junior financial researchers compared to senior financial researchers? How well does each candidates' qualifications for the job match the requirements of the job? ...And a hundred other factors, so I wouldn't worry about some illusory industry standard for this type of job, but focusing my attention on getting the job.
Paul W. Barada
The Negotiation Expert