Fox 5 Guide: Negotiating a higher salary

Thanks so much. Economists point to Friday's jobs report, which revealed more jobs were added last month. They say it's a sign that we are not heading into a slowdown. And for those who are looking to pick up a new job before the end of the year, we have H.R. expert Lauren Winans joining us this morning. Lauren, good morning. Good morning. Thanks for having me. Absolutely. So what are some things that job seekers should begin looking for? You know, job seekers should really be, you know, just taking a look out there and testing the market. You know, it's great to see, you know, a jobs report that, you know, had unexpected higher numbers. And so when job seekers are looking for a new role, you know, be looking for salary, of course, but also be considering, you know, what benefits are available to you, because, you know, benefits really does make up a large part of the total rewards package. And it's really important to be considering all that you're... receiving from the employer when you're looking for that new role. What are some of the key areas or industries where you're seeing the most jobs in terms of opportunities? I think tech right now is one that is not doing as well as it could. I do see from a financial services perspective, that sector continues to perform consistently. Most industries that have a professional component to it are still performing well. But, you know, additional industries like health care, construction, those are also areas that, you know, they do have more roles than maybe some sectors like tech, you know, maybe even like manufacturing, for example. So when you get to the table to the nitty gritty of money and you're having those negotiations talks, what considerations should you be making? Yeah. I think what's important to remember is it's not just that salary number. Salary is only part of the offer. Wages make up 70% of the compensation costs and benefits make up the other 30%. So if you're only looking at base pay and you're not considering the other third of what an employer is spending on you, then ultimately you might be leaving some things on the table are not considering the entire package. So, you know, I always recommend asking for for a benefit summary or some version of a total reward statement before you accept an offer. You know, You know, and I think health care coverage as well as your retirement 401k plan or other retirement vehicle, you know, both of those are very important. You know, consider those premiums, deductibles, out-of-pocket maximums for your health care plan. And also really think through from a 401k match perspective, you know, when does that match actually become yours? So So it's important to understand. So it's not unusual as a candidate to be asking those questions and getting that information from your potential employer. That is great. I was just about to ask you about the vesting schedule in particular. Finally, since I have you here, what's your take on AI, not just in impacting the jobs themselves, but in using AI in the application process? You know, I think AI can be a really wonderful tool, but I think we're just at the very beginning stages of it being helpful. I think in some cases it can hurt the process, you know, whether it be AI tools that are deployed in those applicant tracking systems that we are all used to filling out applications in, you know, sometimes those tools can create bias that isn't necessarily helpful for us in that whole process. But I do think that from a candidate perspective, From an employee perspective, you can leverage AI tools to brush up your resume, ensure that you're using keywords that are helpful for the job that you're hoping to achieve, so that you can get through some of those filters within those applicant tracking systems to ultimately get in front of a recruiter or an interviewer so that you can show them what you've got. Lauren, thank you so much. That was comprehensive coverage that you gave us. I think it's going to help a lot of people. We appreciate it.