What are You Worth?

When moving to a new country, most people are ready for there to be cultural differences. There are things that you can expect and prepare for. But what is not always so easy to anticipate is differences in the work culture of your new home. Thing such as business etiquette, how to present your resume in the US, which fields have extra requirements, and knowing what your asking salary should be when applying for a position at a company are all things that require a little extra research and preparation. Many internationals with whom NY Intl has spoken have been very surprised when they found out that their skills in NYC aren’t worth quite as high a salary as they were back home. New York City is very competitive and certain fields are more saturated than others.To avoid losing an opportunity by over (or under) quoting yourself, it’s good to do some research ahead. Since asking others - even friends - about their salaries is a big taboo in New York City culture, it can make it difficult to find out what people are making. Despite being very open about other aspects of life, it seems very invasive to New Yorkers to discuss how much they make.To help you out, we’ve put together some guiding information and resources so you can start investigating.

WHAT TO ASK FOR

Average salaries will, of course, vary from industry to industry; a director of operations in a tech startup is not likely to make the same amount as in a large established corporation. However at least having a range to start with can be a big help.Some things to take into account when calculating your desired salary are:

• Your previous experience - Remember, even with specialist education, if you have little or no previous work experience you cannot ask the top going rate in your field. Employers in the US take experience into account when calculating salaries. Experience in the US often will count for more than experience abroad because it is easier for potential employers to measure this.
• Specialized skills you bring to the job – are your particular skills in high demand? Can you offer something that many others in the position might not? You may be able to negotiate a higher salary if you have additional knowledge or certifications above and beyond what the position requires.  
• Cost of living in the area – a good salary in your home country, converted to dollars, does not always equal a good salary in New York City. Remember, NYC is one of the most expensive cities in the world to live in, especially if you are in or very near midtown Manhattan. Take this into account when considering your desired salary.
• Average salaries – using online tools (listed below) you can find out a general salary range for the position you are seeking, however, sometimes the low and high ends of these are hundreds of thousands of dollars different so be sure to
• Benefits – realize that in the US sometimes health, dental, and other benefits can be part of salary negotiations.  Accepting a slightly lower salary with better benefits can be worth more in the long run as doctor and hospital bills in the US can be exorbitantly expensive if you do not have adequate coverage. Some large corporations also offer their employees stock in the company.

WHEN TO BEND

There will be situations when it might be worth it to accept a slightly lower salary than you’d prefer. For instance, startups cannot offer competitive salaries with larger corporations, but tend to offer other perks that might be more valuable to you such as a creative atmosphere, flexible work hours,  lots of room to grow with the company, and some even offer employees shares in the company so that they directly share in the company’s success.If you are a consultant or freelancer you might want to give a client a discounted rate if you know they will be able to refer many future clients to you. In all cases it will be your own discretion to know when to bend, but keep in mind that sometimes you have to give in order to receive.

RESOURCES

Glassdoor is “changing the way people find jobs, and companies recruit top talent” by offering an inside look at companies throughout the US. The website gathers and reports data on the average salaries, work environment, and interview process of thousands of companies. The data is gathered from information submitted anonymously by employees and is listed after a verification process.NY Times Salary Wizard allows users to search the database of national average salaries by entering a job title and location. The results include job descriptions to ensure you are looking at the most accurate results, show average median salary, average benefits offered with the position, and even allow you to see and compare similar jobs.Payscale is a very detailed tool which allows you to find out if your current job is paying you well, evaluate a new job offer, or do research on a job position. You will need a lot of information about the company and the responsibilities of the position but when completed Payscale will give you a free report on what percentile you fall into and anonymous profiles and salary information of people holding similar positions.