MBA1254 How To Offer The Right Salary When Hiring

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.9 • 1.2K Ratings

🗓️ 30 April 2019

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

As your business grows, so grows your team. As you hire, you’ll find yourself repeatedly faced with the question: what should I be paying? Today, we explain how to do the math for new hires. We discuss all the factors involved, from budget to experience to industry standards, so you can reach your own number. We also discuss other factors that can influence the final offer, those that go beyond simple compensation.

Transcript

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0:00.0	Heyo! Welcome to the $100 MBA show because your business relies on you getting better every day.
0:15.2	That's why we deliver daily 10 minute business lessons for the real world.
0:19.2	I'm your host, your coach, your teacher, Omar Zenholm. I'm also the co-founder of the
0:23.8	hundred dollar MBA, a complete business training and community online. And in
0:28.4	today's lesson you will learn how to offer the right salary when you're
0:32.1	hiring. You might have a job salary when you're hiring?
0:32.9	You might have a job opening and you're posting that job on a site and you're going to start
0:36.0	interviewing people.
0:37.0	But you got the question on your mind, how much should I be offering for this position? How much should I be paying this new employee?
0:44.8	So in today's lesson I'm going to give you some pointers, some
0:46.8	guidelines that you can use to come up with a good salary for you and your actual new hire. And a little spoiler
0:55.5	alert it's more than just money that you're going to be offering. We're going to
0:59.1	look at this job opportunity as exactly that an opportunity what does that opportunity offer
1:05.4	that's really your offering that's really the quote-unquote salary but we'll also be
1:09.3	touching on what exact figures should you be offering in terms of compensation?
1:13.7	We got a lot to cover, so let's get into it.
1:15.6	Let's get down to business.
1:17.4	Today's episode of the $100 MBA show is supported by W.P. Engine, the best
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1:29.5	runs on W.P. Engine. We love their reliability, their speed, their security, and their unbelievable
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	...

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