Easy-to-follow video tutorials help you learn software, creative, and business skills.Become a member

Researching salary ranges

From: Negotiating Your Salary

Video: Researching salary ranges

It's important to prepare for negotiations ahead of time by researching realistic salary ranges. In fact, it's actually best to prepare before you even interview for a job. You want to set yourself up, so you get your best salary. However, if you've already been made an offer you can still do this research. You want to have your pre-negotiation worksheet for this part of the course. Begin by writing down your personal range. What is the minimum salary you need to make to meet your financial obligations? The low end of your personal range will be based on your budget needs.

Researching salary ranges

It's important to prepare for negotiations ahead of time by researching realistic salary ranges. In fact, it's actually best to prepare before you even interview for a job. You want to set yourself up, so you get your best salary. However, if you've already been made an offer you can still do this research. You want to have your pre-negotiation worksheet for this part of the course. Begin by writing down your personal range. What is the minimum salary you need to make to meet your financial obligations? The low end of your personal range will be based on your budget needs.

The high end of your personal range will be your ideal salary. This is the amount of money that will allow you to lead the lifestyle you desire. Next, you need to have a realistic idea of what the market actually pays; the external equity. So how can you find out what the market ranges are for your area of interest? I recommend you use the same resources that HR often uses to determine external equity. First, the Bureau of Labor Statistics is an excellent place to start.

The BLS website allows you to search by industry and job position, and is one of the most reliable sources of job data. Our first step is to locate where to find wage information. You'll find this under the tab Subject Areas under the PAY & BENEFITS subsection. You can see there are quite a few selections, but to get the most detailed information you want to click on Wages by Area & Occupation. This will allow you to search wages in a variety of ways including occupations, industries, geography and even gender.

Let's start with occupation. So I'll click on for over 800 occupations. The BLS will start you out with the major occupation groups. You may have to explore this a bit if you're unsure of where your title fits. For our example, we'll use graphic designers, which is most likely under category 27; Arts, Design, Entertainment, Sports and Media Occupations. By clicking on section 27, you'll see a full list of occupations in this category.

As we quickly scan the list, you'll see graphic designers at 27-1024. Let's click on it. You can already see some great information including national estimated hourly wages, annual wages and the 10th through the 90th percentile wages. In addition, if I scroll down, I find the mean hourly and annual wages for the top industries including highest employment and top paying. Finally, you get to see employment by geography.

But for this video, we want to focus on salary ranges for a particular industry. You can do this by creating a customized table, which I can click here. You're able to create tables in a variety of ways and for our example, we're going to focus on one occupation for multiple industries. That way we can see how wages differ. When we continue, we'll need to reselect our occupation, graphic designer, which we know is 271024.

I'll click continue, and then I can pick one industry. I'll choose retail trade, and then I'll hold down my Command key on the Mac or Ctrl key on PC and also select Information, then click continue. Now I'm given a breakdown for these industries, so I can further narrow my search. So I'll select furniture stores, because there is a large number of them in my metropolitan area. And I want to compare it to my current industry of newspaper publishers.

So again, I'll hold down the Command key on the Mac or Ctrl key on the PC and select that. Then I'll click continue. I want the most recent data, which right now is May 2011. Then I can select which data I want to see including hourly and annual wages, but for now, I'll just leave this as all data types. Finally, I can select the output, either as an Excel spreadsheet or HTML in my browser.

We'll use HTML for our demonstration and I'll click continue. As you can see, there are fewer graphic designers employed by furniture stores, but the wages including hourly mean wage and annual mean wage are significantly higher for those employed in furniture stores. The BLS only covers the US market, so if you're looking outside of the US then you may need to rely more on your country's standards. Many governments gather this data and have it available on the web.

Second, professional organizations are a good source to benchmark salaries as they allow you to target your industry or role more specifically. These organizations often publish salary surveys of members on their websites. If you don't know an association in your area of expertise, weddle's.com is a great place to find your professional organization. Third, once you have a broad role or industry perspective, you can visit a salary comparison website to confirm your research.

Some of the more popular sites include PayScale.com, Salary.com and glassdoor.com. These sites allow you to target specific companies whose employees have reported their salary information. Once you've done your research, fill in the market range salary information on the pre-negotiation and analysis worksheet. If your personal range and market range match up, you'll next want to determine the negotiation items that are most important to you, which we'll discuss in the next video.

Show transcript

This video is part of

Image for Negotiating Your Salary
Negotiating Your Salary

16 video lessons · 11302 viewers

Valerie Sutton
Author

 

Start learning today

Get unlimited access to all courses for just $25/month.

Become a member
Sometimes @lynda teaches me how to use a program and sometimes Lynda.com changes my life forever. @JosefShutter
@lynda lynda.com is an absolute life saver when it comes to learning todays software. Definitely recommend it! #higherlearning @Michael_Caraway
@lynda The best thing online! Your database of courses is great! To the mark and very helpful. Thanks! @ru22more
Got to create something yesterday I never thought I could do. #thanks @lynda @Ngventurella
I really do love @lynda as a learning platform. Never stop learning and developing, it’s probably our greatest gift as a species! @soundslikedavid
@lynda just subscribed to lynda.com all I can say its brilliant join now trust me @ButchSamurai
@lynda is an awesome resource. The membership is priceless if you take advantage of it. @diabetic_techie
One of the best decision I made this year. Buy a 1yr subscription to @lynda @cybercaptive
guys lynda.com (@lynda) is the best. So far I’ve learned Java, principles of OO programming, and now learning about MS project @lucasmitchell
Signed back up to @lynda dot com. I’ve missed it!! Proper geeking out right now! #timetolearn #geek @JayGodbold
Share a link to this course

What are exercise files?

Exercise files are the same files the author uses in the course. Save time by downloading the author's files instead of setting up your own files, and learn by following along with the instructor.

Can I take this course without the exercise files?

Yes! If you decide you would like the exercise files later, you can upgrade to a premium account any time.

Become a member Download sample files See plans and pricing

Please wait... please wait ...
Upgrade to get access to exercise files.

Exercise files video

How to use exercise files.

Learn by watching, listening, and doing, Exercise files are the same files the author uses in the course, so you can download them and follow along Premium memberships include access to all exercise files in the library.


Exercise files

Exercise files video

How to use exercise files.

For additional information on downloading and using exercise files, watch our instructional video or read the instructions in the FAQ.

This course includes free exercise files, so you can practice while you watch the course. To access all the exercise files in our library, become a Premium Member.

Are you sure you want to mark all the videos in this course as unwatched?

This will not affect your course history, your reports, or your certificates of completion for this course.


Mark all as unwatched Cancel

Congratulations

You have completed Negotiating Your Salary.

Return to your organization's learning portal to continue training, or close this page.


OK
Become a member to add this course to a playlist

Join today and get unlimited access to the entire library of video courses—and create as many playlists as you like.

Get started

Already a member?

Become a member to like this course.

Join today and get unlimited access to the entire library of video courses.

Get started

Already a member?

Exercise files

Learn by watching, listening, and doing! Exercise files are the same files the author uses in the course, so you can download them and follow along. Exercise files are available with all Premium memberships. Learn more

Get started

Already a Premium member?

Exercise files video

How to use exercise files.

Ask a question

Thanks for contacting us.
You’ll hear from our Customer Service team within 24 hours.

Please enter the text shown below:

The classic layout automatically defaults to the latest Flash Player.

To choose a different player, hold the cursor over your name at the top right of any lynda.com page and choose Site preferencesfrom the dropdown menu.

Continue to classic layout Stay on new layout
Exercise files

Access exercise files from a button right under the course name.

Mark videos as unwatched

Remove icons showing you already watched videos if you want to start over.

Control your viewing experience

Make the video wide, narrow, full-screen, or pop the player out of the page into its own window.

Interactive transcripts

Click on text in the transcript to jump to that spot in the video. As the video plays, the relevant spot in the transcript will be highlighted.

Are you sure you want to delete this note?

No

Your file was successfully uploaded.

Thanks for signing up.

We’ll send you a confirmation email shortly.


Sign up and receive emails about lynda.com and our online training library:

Here’s our privacy policy with more details about how we handle your information.

Keep up with news, tips, and latest courses with emails from lynda.com.

Sign up and receive emails about lynda.com and our online training library:

Here’s our privacy policy with more details about how we handle your information.

   
submit Lightbox submit clicked
Terms and conditions of use

We've updated our terms and conditions (now called terms of service).Go
Review and accept our updated terms of service.