Boost Your Pay: Create a Sample Compensation Package

Posted by Bridget Quigg

In the dog-eat-dog world of getting hired these days, you may feel like taking the next job offer that comes your way. And, perhaps, that’s a good idea. But, the moment you say “Yes” to a new gig, you’re in a powerful position to set your future earnings and benefits. And, since salary budgets have shrunk at most companies, benefits are a great way to make up for a smaller paycheck.

Would you like to work from home sometimes? How many vacation weeks do you want? How much do you value having a 401K?

A great way to prep for a salary and benefits negotiation is to create a sample compensation package that reflects your wishes. In fact, you can create more than one sample compensation package so that you can respond intelligently to any changes during the negotiation.

To Cap or Not to Cap: Obama Answers the Executive Compensation Question

Posted by Bridget Quigg

Back on February 12 of this year in a post titled, “Loopholes, Lawyers and Obama’s Executive Compensation Cap,” I wrote that President Obama was considering an executive compensation cap of $500,000, at least for financial institutions that received Trouble Asset Relief Program (TARP) money. I wondered what the actual effects of the cap would be, especially with the workarounds of clever Wall Street lawyers, and I couldn’t help but worry that a compensation cap might dampen efforts to rebuild these institutions.

Well, it turns out that all that worry wasn’t necessary because no cap is coming – at least not for now.

Celebrity Salaries: What Is Oprah Winfrey’s Annual Salary vs. Joe the Plumber’s?

Posted by Bridget Quigg

Have you ever considered the reality that many famous people make more in a year than most of the world’s population makes in a lifetime? I thought about this recently when looking at the Forbes Celebrity Top 100 list for 2008. At the top of list, solidly in the lead, sits a proud and powerful Oprah Winfrey. Oprah Winfrey makes $275 million annually and her earnings are likely only going up from there.

I was trying to put her incredible salary into perspective so I decided to bring in America’s “everyman,” Joe the Plumber. During our 2008 presidential election season, Joe the Plumber represented, for many, the American middle class. According to an NPR article, Joe wanted to have his own plumbing business and was worried that Obama’s tax plan would push him into a higher, more costly tax-bracket. He hoped to earn $250,000 a year. So, what does a hard working plumber like Joe make in a lifetime?

How Rich is Larry King? Salary Secrets of the Stars

Posted by Bridget Quigg

When Kathy Griffin appeared on Larry King Live last June she asked Mr. King, “What’s your annual salary?” He responded, “I can’t tell you that.” She went on to badger him with questions about whether or not he gets paid per show or bimonthly. Larry dodged her bullets but she got his attention when she said, “I can look it up online.” King was shocked.

 

Her comment made me curious at the time. I had heard that Larry King makes the big bucks but I’d never checked on exactly how much. Today, I decided to take a look and see if Ms. Griffin was right about finding Larry King’s salary online.

 

Swine Flu: Potential Pandemic Has Many People Working Harder

Posted by Bridget Quigg

Swine flu has arrived in the US and has most people either a little more cautious in public spaces or very scared of any public contact. I’ve spoken with more than one friend who is washing their hands more often or thinks twice about what that tickle in their throat might mean.

From the Salary Reporter’s perspective, it’s interesting to take a moment to consider the vast number of workers who are going to be involved in controlling this health threat. What are some of these jobs and what can PayScale’s data tell us about them? 

Online Degrees: For Baby Boomers, They Could Be Essential

Posted by Bridget Quigg

The job market is tough. Real tough. Darn tough. Only the most skilled, educated and savvy shall thrive. And, if you’re older than 45, your age can work for or against you. Offering exceptional skills based upon years of experience is a plus. Being closer to your retirement age without more skills to offer than your younger counterparts, isn’t.

When baby boomers, those folks born between 1946 and 1964, look for employment in this down economy, they may need to work harder to prove themselves than ever before. As a result, many are considering going back to school, especially online. Online courses can fit into a schedule filled with work, family and other responsibilities – like grandkids and aging parents.

Furthering your education with an online degree not only improves your skill set, it also shows that you care about staying engaged and successful in your career. This drive will be attractive to possible employers. 

Compensation gap between government and private workers widens

Posted by Lydia West

Benefits for government workers are on the rise despite the recession, and the gap between government worker benefits and private worker benefits continues to widen. According to USA Today, "For every $1-an-hour pay increase, public employees have gotten $1.17 in new benefits. Private workers have gotten just 58 cents in benefits for every $1 raise. The difference: Companies have ended most traditional pension plans and increased workers' share of health care costs. Government paid an average of $8,800 annually toward employee medical insurance. Private companies paid $4,100."

It might be time to jump into a government job. Get tips on how to do it in this PayScale article: "How to Get U.S. Government Jobs."

USA Today source: Benefits widen public, private workers' pay gap

More Millions, More Mishaps: Washington Struggles with AIG’s Executive Compensation Bonuses

Posted by Bridget Quigg

A remnant from the previous administration’s carelessness is now an enormous problem for the current one.

When American International Group, Inc, AIG, accepted taxpayers’ bailout funds last year, no member of the Bush administration bothered to address how AIG planned to reward their employees in the coming year. Then, according to an AP article, “Analysis: White House, Dems Backpedaling on AIG,” no one in the Treasury Department under the Obama administration double-checked the AIG bonus structure or compensation plans when they gave AIG an additional $30 billion just a few weeks ago.

Now, after AIG followed through on its contractual obligation to give out $165 million in executive bonuses to its high level employees, is it ethical to reverse AIG’s actions and get that money back to the taxpayers?

Need Some Income and Love Sports? Try Living Off the Starting Salary for a Sportscaster

Posted by Bridget Quigg

According to The Bureau of Labor statistics report titled “The Employment Situation: February 2009,” the national unemployment rate reached 8.1 percent in February of 2009, up from 7.6 percent the previous month. Not a cheery statistic. In fact, I was watching a news segment on this very subject when it dawned on me; all of these TV hosts are still employed. Is the television industry suffering financially like so many other industries?

Loopholes, Lawyers and Obama’s Executive Compensation Cap

Posted by Bridget Quigg

President Obama’s recent work to limit executive compensation makes my heart sing – or at least hum a bit. Like most Americans, I am shocked and scared over what’s happened in our country, and I cling to signs of hope. President Obama’s recent push to limit executive compensation sounds like a something worth clinging to. But, I’m worried about what sort of results it will really have once Wall Street’s lawyers get a hold of it.