Chapter 9: Managing Compensation

Exercise 9-1

Do you know how much you are worth? What about your dream job? How much does it pay?

Go to http://salary.monster.ca/ and use their Salary Wizard to find out how much you could earn in that dream job.

While you are there, make sure to read the section on methodology. Salary data is only as good as the methodology used to collect and analyze it. How confident are you with the salary data based on the methodology outlined? Identify 2 strengths and 2 weaknesses of their methodology.

Exercise 9-2

You’re being interviewed for that dream job and some tricky questions have been asked about salary. How should you answer them?

Go to http://salary.monster.ca/ and try out the virtual negotiation scenario for interviews.

1. What information do you need to collect to be successful in negotiating your starting salary?
2. Where will you find this information?