Basic IncomeBasic Income
BonusBonus
CommissionCommission
Direct DepositDirect Deposit
Earned IncomeEarned Income
Exempt vs. Non-Exempt StatusExempt vs. Non-Exempt Status
Fringe BenefitsFringe Benefits
Gross IncomeGross Income
Gross PayGross Pay
Incentive PayIncentive Pay
Living WageLiving Wage
Merit IncreaseMerit Increase
Net IncomeNet Income
Net PayNet Pay
Pay FrequencyPay Frequency
Pay StubPay Stub
Payroll DeductionPayroll Deduction
Profit SharingProfit Sharing
Salary NegotiationSalary Negotiation
Salary SlipSalary Slip
Side HustleSide Hustle
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Salary Negotiation

Definition

The process of discussing and agreeing on a salary and benefits package, ensuring you’re fairly compensated for your work.

What to consider

  • Research market rates and your industry’s standards.
  • Prepare to discuss your achievements confidently.
  • Practice your pitch to ensure a smooth conversation.

Real world scenarios

  • Nadia researches typical salaries in her industry before a performance review, confidently requesting a raise that matches market standards.
  • Arturo discusses not just base pay but also bonuses and stock options, recognizing total compensation matters most.
  • When offered a new role, Paige negotiates salary, vacation time, and flexible hours. She finds that being prepared helps her secure better terms.

Related terms

Merit Increase
Incentive Pay
Salary Slip
Living Wage
Pay Stub

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