your salary

negotiating your salary Know your market worth The first key to negotiating a salary package is to know your market worth. You should start by researching what people with similar skills and experience are paid in the industry and position you have applied for. The best sources of information are job advertisements, professional associations, university career centres, people who work in the industry and other job seekers. Besides that, leading recruitment publications, career websites and some recruitment agencies compile salary indexes, which track market trends for specific roles and sectors. Once you know your worth, it also makes sense to calculate three other figures, which will represent your successive lines in the sand when you start to negotiate in earnest. These figures are how much you actually need, how much you want, and how much you would be satisfied with. Having clear objectives will help in deciding between an offer you can accept and one you simply have to turn down for financial reasons. If you have managed to impress a prospective employer during the usual series of tests, interviews and group discussions, the moment will come to negotiate terms and conditions. It is important to be ready for this, so as not to be caught out when the employer asks how much you hoping to get. What they are really asking is how much you think you are worth, and your answer is likely to affect perceptions and, therefore, your chances of landing the job. In most cases, if dealing directly with the employer, you can generally leave them to raise the subject of remuneration. However, if going through a recruitment agency, you may want to talk about your salary expectations with the consultant first, and ask for advice and opinions. Don’t talk about salary too early in the interview process Usually, it is best not to disclose your expectations to any prospective employer too early in the selection process. If you do, any figure mentioned may be taken into account as part of the initial screening and could affect your chances of even getting past the first hurdle. Your aim should be to gauge the salary range the employer is prepared to pay. In this way, you will have a better chance of avoiding two common mistakes: one is underselling by asking for less than you deserve, the other is pricing yourself out of a potentially great job by demanding too much at the outset. Remember that you can always give a ballpark figure, while perhaps mentioning a couple of provisos. Employers will understand that because it is an approach they tend to use when asked what they are willing to offer. 14 news update winter 2008 Be realistic and consistent during negotiations Some employers will ask outright what your current salary is. It can be tempting to inflate the figure, but that is also risky since details can be clarified easily enough during a reference check. However, nothing says you can't ask for significantly more than you are currently getting. Any such request can be justified by reference to market rates, relevant experience and specific skills. As with any negotiation, the aim is to find common ground. But don't forget that when a job is at stake the employer ultimately has the upper hand. If you play hardball and are unwilling to compromise, it may cost you the position. Even in a tight job market or when looking to fill a specialist role, the employer is likely to have several candidates on the short list. Finally, remember that you are negotiating not just for a base salary, but for a remuneration package. Many other benefits may be available and can quickly drive up the amount received in total compensation. These can include everything from performance-related bonuses, staff discounts and overtime to health insurance, stock options and allowances for housing, travel and mobile phones. Certain companies may also offer things like flexible working hours, health club memberships, training and career development, all of which add an extra dimension. For further advice on making a great first impression or for general information on current employment opportunities, please contact Michael Page International on +852 2530 6100 and ask to speak to one of their specialist finance consultants. learning centre book review business genius: peter fisk This is a business title to get really excited about by a truly inspirational author. If each one of us in any business enterprise read a few pages of this book every day and acted on it, all of our businesses would undoubtedly benefit in countless ways – it is a gem full of excellent advice on how to get extraordinary results from our businesses, teaching us how to move with the times, to constantly re-define our core business and how to approach diversification, partnering, extending and globalising and managing such change and innovation by inspiring and nurturing the people in our teams. Firstly about the author: Peter Fisk is an accomplished business author, consultant and entrepreneur. He has spent many years working with the likes of British Airways and Coca Cola, Marks & Spencer and Microsoft, Virgin and Vodafone. His previous bestselling books include Marketing Genius (about customers, brands and innovation – and currently being translated into 25 languages.) and The Complete CEO. In this series, Customer Genius and Creative Genius will follow in 2008. He is founder and CEO of The Genius Works (www.einsteinpicasso. com), working with business leaders to adopt a more inspired approach to strategy and innovation –fulfilling his equation of Genius = intelligence + imagination = extraordinary results. Not only is he an established international speaker on all aspects of strategy and innovation, customers and marketing but he is also thoughtful and considered, provocative and entertaining – capturing what’ s hot, what works, and what’s next. He is described by Business Strategy Review as “one of the best new business thinkers”. So move aside, Kotter and Handy and make way for Fisk. What is great about this book is that it is simply so readable. It is full of refreshing approaches and insights into issues facing any business trying to achieve the all essential year on year sustainable growth in the face of stagnating market share in a rapidly changing market place. Fisk brings such energy to his writing, it has you turning the pages which are brimming with ideas and inspiration. His creative approach and fascinating case studies explore how we can use our intelligence and imagination (yin-yang) for both personal and organisational development. So using a more inspired, less traditional way of thinking and behaving, we can take radical and practical action to achieve a bolder approach to business challenges. On a business level, using his Future Back and Now Forward strategy, we can create our business of tomorrow whilst delivering it effectively today; using Outside In and Inside Out to understand our customer “wants” we can carry out business on customers’ terms rather than our own outmoded standard and compete in this 24/7 market and its high expectations today. Fisk encourages us to look for the market opportunities offered us as we face big world challenges like climate change, population imbalances, water shortages and deforestation: think Green; think Silver (as in the over 60’s now retiring), think Grey (the gadget market); think Brown (the retro market); think Gold (the burgeoning luxury market) and ask the question, could the last century have been an “industrial age bubble” now about to burst with new winners and many old losers? Fisk looks at the 5Cs of great leaders in business and crisis and 16 news update winter 2008 learning centre change management: The Catalyst (of change), The Communicator (of vision), The Connector (of people), The Conscience (of the business), The Coach (of high performance) and shows examples of the most successful CEOs of today who hold these collective traits – leader, manager, executive and entrepreneur. The inconvenient truth for some organisations is that different challenges require different leaders and as a business evolves so different types and styles of leadership will be required on that journey. As Charles Handy once said“ a frog that jumps into a bucket of boiling water will jump out, but a frog that sits in cold water that is gradually heated to boiling point, will not sense the danger until too late.” There are plenty of executives who are happy to sit tight and hope things don’t get too hot, at least before they move onto their next job. The message is “control your destiny, or someone else will”! He shows us how to look at how we can seize opportunities by structuring our corporate strategy through committing to an enduring course of action, having clarity of purpose, understanding throughout the company WHY this business exists, HOW it adds value to peoples’ lives, its PURPOSE (beyond profit) that justifies its existence and why it needs to ENGAGE its managers to embrace changing markets, new opportunities and smarter ways of working. His advice on the latter is hugely instructional with a fascinating case study insight into Proctor & Gamble’s radical corporate changes since 2000. Fisk looks at the power of the customer in the 21st century, whereas perhaps it was the supplier in the past that had the most influence on our ability to position ourselves in the market. Nowadays the customer does not to expect to be thwarted by internal processes or bureaucracy and companies need to do business where, when and how the customer wants, often as a result of the 24 hour nature of the internet. The brand now becomes less about the product and more about the “..ing”. So BMW doesn’t sell cars but the driving experience; IKEA doesn’t sell furniture but living solutions, (and of course, Bloomsbury Books doesn’ t sell books but reading solutions!) The innovation from this way of thinking lets the company diversify into other related or linked business areas to offer a whole solution to the customer. I particularly enjoyed his chapter on Customer Power and how to profile where your company stands with its customer relations. With seven simple questions, Fisk has you re-thinking how customer-centric your business is and how to implement a more effective plan, with an interesting case study from Bang & Olufsen. If you are going to read one good business book this year, then make it Business Genius – and make your “twenty-first century workplace ..an inspirational place to start each day, with markets and innovations unbounded by physicality, full of possibilities limited only by your imagination.” Book Review by Lindi Yeo Capstone Publishing Ltd 2008 ISBN 9781841127903 Price: HK$161 learning centre 讀書考試之 截拳道 的時間。然後根據實際的情況及個人喜好編排所讀的章節及所練習的考 題。在這時候應該已經準備齊全書本、筆記、過往考試題目及答案、考 相信問這問題的，都感到工作忙碌之餘，要兼顧考試讀書，的確不 容易。若然可以在讀大學時，一邊讀書，一邊考專業試，相信定必事半 功倍。記得筆者的師兄師姐所說，他們當時很多都是在學時由ACCA第 一張考卷開始，一直考到第十四張，不少還在三年內考畢，在大學畢業 時也同時是ACCA的畢業生。不過，自從豁免的考卷多了，此夢亦不復 再，學生大多畢業後才考試，最快也要一年才完成。 此時此刻，夢又可再實現了。皆因ACCA在去年開始了拔尖計劃，大 學會計系學生只需要在第二年參加這計劃，便可以在第三年考ACCA的 最後五張考卷。所以，最快可以在畢業時考畢ACCA的專業考試，而且 在第一屆的計劃裏已有成功的例子。若然在學期間，已擁有一些相關的 工作經驗，還可快人一步，投身會計專業。 已故名人李小龍可說是一代武學宗師，是截拳道的高手。截拳道的 宗旨，便是「以無限為有限；以無法為有法。」雖然ACCA的考試範圍 是非常廣濶，只要我們勇於面對挑戰，無懼艱辛，用信心去面對，必定 話說回來，要儘快達到理想，完備的計劃是非常重要的。常言道： 「Fail to Plan, Plan to Fail.」所以，若然還未計劃，便要及早作出預備。 正如中國第一位宇航員楊利偉先生曾經說：「機會是永遠留給作好最好 準備的人。」有效計劃是成功之關鍵。 首先一定要有一個目標。作為一個精明的人，就要有精明(SMART) 的目標。即是目標要特定的(Specific)，考試切忌漫無目的，要有理想。 木村拓哉在日劇《華麗一族》曾說：「一個人沒有理想，那有將來。」 所以要有理想去完成考試，全力以赴，做到最好，成為一位會計專業人 士。目標是要可以計量的(Measurable)，ACCA的考試是以50分為合格分 數，只要努力，必可達成目標。目標必須要可以達到的(Achievable)， 根據自己的能力及時間安排報考，要量力而為。所以，最好不要一開 始便報考四科，可以先報考兩科或三科，那兩次便完成考試。若是在 學的，選擇和學校所修的科目一樣，那整個計劃便可同時應付校內試及 專業試。訂立計劃要按實際情形而行(Realistic)。並且要配合時間(Timerelated)，要問自己甚麼時候完成，訂立時間表。SMART的目標能為大 家帶來考試成功的一頁，當然有目標還要實行，並作定期檢討與跟進。 要實現目標，一個合理的讀書及複習時間表是不可少的。我們要先 準備一個從現在到考試前的日程表，填上上課或上班、培訓、做運動、 吃飯、個人活動及生活的時間，餘下來的，就是讀書及練習過往考題 能夠超越領域，把考試預備好。雖然我們可能面對如斯艱深的課題和試 題而不知如何是好，只要我們運籌帷握，必能決勝於千里之外。 有時勝利不在於兵法，而是在於如何善用兵法。孫子曰：「知彼知 己，百戰不殆。」能夠了解對方及自己，才能立於不敗之地，以達至百 戰百勝。所以當我們預備考試時，一定要熟讀考試範圍，特別是一些更 新的知識，因為新的知識總是比較熱門的。另外，有些考生只着重閱讀 試題而不練習，這樣亦不能達到好的效果。根據哈佛大學的研究指出， 通過練習實踐去學習比只是閱讀的留存力效果高很多倍，所以練習能加 強對知識的理解。筆者很多時以做考題為主，不明白的地方再翻查書本 以作了解，然後把重點做筆記，那會比較容易理解重點，在腦中留下深 刻的印像。若只讀書而不做題，就不知道該如何運用學到的知識在答題 上了。 除此之外，當在做過往的考題時，不妨對照考官報告，以了解過往 考生所經常犯的錯誤，這樣便會更深刻。在金庸小說《神鵰俠侶》中， 郭靖為楊康的兒子改名為楊過，字改之，意思就是「過而不改，是為過 矣；過而能改，善莫大焉。」其實只要不重蹈覆轍，就已經邁向了成功 的一大半，精明的人就是懂得從人家的錯誤中學習。 讀書的時候，不知道大家喜歡先讀困難的題目，還是先讀簡易的題 目。很多朋友會選擇先甜(容易)後苦(困難)的，因為讀起來時會比較簡 winter 2008 news update 17 官報告等，後兩者皆可以在ACCA的網站上下載，然後根據時間表的編 排開始讀書。因考試範圍比較大，所以要分秒必爭，把握時間溫習，甚 至可以利用乘坐交通工具、排隊和等待的時間讀書，但不要給予自己太 大的壓力。 在考試前的假期，要預留一些複習的時間。考生以往經常忽略此複 習的時間而未能將讀書得來的知識歸納及重新整理，又沒有時間練習過 往考題，導致在實戰時就不能應付艱難的題目。所以，一個合理的複習 時間表也是不可或缺的。 單易明，比較有成功感。而當遇到難題時就先放在一邊，但當發覺難題 堆積如山，特別是臨近考試前，信心便會被動搖，縱使「風在吹，山也 不會移動」，那大山便形成一股壓力，影響考試，而每每困難的題目亦 是考官最喜歡考大家的，所以這大山便是阻礙考生邁向成功的一個極大 欄阻。所以，筆者認為，最理想的就是先應付比較困難的考試範圍，當 遇到困難時，便應把握機會去問高人的意見，正所謂「每事問會有好學 問」。偉大的科學家愛因斯坦也曾說，「重要的事是不要停止提問」， 難題便應刃而解。這樣，在臨近考試前便不會因沒時間應付難題而影響 信心。 有時三五知己，一起讀書，互相鼓勵，對掌握考試也有一定的幫 助。根據哈佛大學的研究指出，通過小組討論去學習比只是閱讀的留存 力效果高數倍，所以組織學習小組能幫助加強對知識的理解。在小組裏 輪流負責一些課題或題目，特別是一些比較困難的，互相討論及切磋， 大家可能體會到意想不到的效果。 古語有云：「工欲善其事，必先利其器。」要考試成功，便要有充 足的預備，並理解相關的知識。雖然ACCA的考試是採取閉卷式，但並 不代表只須要硬背死記便能過關。畢竟今時今日的考試多著重實務性及 分析性，特別是ACCA專業階段的考卷，故考生不可不察這趨勢而盲目 背誦，否則可能會招致失敗。 孤九劍而以劍術橫行天下，獨孤前輩的劍法重點是針對性。對刀的有破 刀式；對劍的有破劍式。筆者亦認為每一張考卷都有其針對性的溫習的 方法，審計、財務匯報、財務管理及稅務等都不盡相同。 審計的考卷如F8及P7可說是失敗的重災區，合格率是非常低的。考 生每每溫習完都不知道怎樣答題目，像懂也像不懂，有一點虛無飄渺的 感覺，這和這科目的實務性比較強是很有關係。筆者很喜歡將審計形容 為太極，要通過就一定要悟出真理，就是太極中所說的「拳非拳，意非 意，無意之中是有意」。要突破審計準則的框架，融會貫通，才能揮灑 自如。記得有一位朋友，前後將審計的課本溫習了三遍都不合格，所以 針對這一科一定要從練習題目開始，從最近期的考卷開始練習過往的考 卷，才能得到啟發。除此之外，P7的考卷通常會考風險評估，入世未深 的朋友可能對此一知半解，可多觀察不同行業的新聞及行情，以及閱讀 招股書中風險因素部份，必定有所得益。 至於財務匯報的考卷如F7及P2等，考試範圍可說是比天更高，比海 更深。在安排方面就要照顧入微，要把相類似的課題及題目各從其類， 如有關綜合帳(Group Accounting)的準則及詮釋歸類；有關資產的一類； 負債的一類；表達與披露的又一類，最後特別的題目再歸類，這樣分門 別類的應付，會比較有系統性及針對性。又因財務匯報準則的變化比較 大，所以應先熟讀準則及多做較近期的題目。一如先前所說，由於此科 目範圍極廣又艱深，都是儘早解決它吧。若能和審計一起解決就更理 想，因為兩者的關係頗為密切。 另一科較深奧的，可說是財務管理的考卷如F9及P4。特別是P4， 至深至極，在新制度下搶點成功，成為最低合格率的新貴。此科單閱讀 材料也是不明白的，所以也可從練習考卷著手，遇到不明白的地方才參 考書籍，練習得愈多愈好，並且做筆記作複習之用。筆者就是曾用此方 法通過這考卷，而第一次考這考卷時是從閱讀材料開始，結果敗北而 回，因為不明白箇中的答題方法及不了解艱深的理論。 18 news update winter 2008 learning centre 但稅務的考卷如F6及P6，筆者就不建議用此方法，因為稅務條例變 化比較大，所以也是應先熟讀條例及多做較近期的題目。而掌握此門的 技巧在於剖析問題所在，認清誰是納稅者，提出相關的稅法、稅例及規 則，應用到題目的處境上，再作出結論，那才可以奪取高分。 考卷眾多，不能一一盡錄。只要心領神會，必能參透每張考卷的過 關秘技。無論是哪一張考卷，練習過往考題及做筆記都是關鍵之一。 另外，讀者也可考慮用心智圖(Mindmapping)幫助記憶，貫連相關的知 識，讓我們更能掌握當中的邏輯。 武術是要有一個充足的狀態才能達到登峯造極，同樣地，要有一個 充足的狀態才能成功應付考試。所以考試之前要有充份的休息。筆者有 一位朋友，就是害怕睡醒時忘記一切，所以在考試前就通宵達旦繼續預 備，結果可想而知，再考吧！ 考試之前再閱讀考試規則，備妥一切需要的文件及文具，至於計算 機，建議帶兩部，以防萬一。早一點到達試場，然後保持輕鬆的狀態， 心無雜念。盡量不要再複習，因為這樣只會增加自己的壓力，到時可能 只記得剛剛讀過的而忘記其他，影響考試的狀態。如果真的很緊張，可 以用腹式呼吸，運用丹田之氣，以達致心平氣和。 當準備充足時，信心也十足，戰意亦會提升，而臨場發揮也是一個 決定性的關鍵。在考試的時候，時間管理是非常重要的。在十五分鐘的 在金庸小說中的《笑傲江湖》，令狐冲使出風清揚前輩所傳授的獨 閱卷時間裡，要因應試題的分數去將時間分配，並且邏輯地思考答題大 綱及策略。截拳道的要訣，在於「無形之形，無式之式」，要因應試題 的需求而變招，以無招勝有招，不要硬橋硬馬的把腦中的記憶搬字過 紙。 當答題時，有時對自己就要「狠心」一點，預定時間到的時候，就 要專業地結束正在做的試題，然後做下一道題目，那才能減少失分。而 遇到艱難的題目，可以先跳過，做一些比較簡單或懂的題目，正所謂 「強而避之」，那才能增加信心。回頭再做那條艱難的題目，可能會有 意想不到的效果。現代的專業考試，多強調實務性，所以切忌只盲目地 將所有理論寫在答題簿上，一定要思考以能將知識應用到答題上。 考試之後，便請不要往後看，要勇往直前。無論之前那一科考得怎 麼樣，都是無法改變的事實，所以不用再想。想，可能只會影響信心， 正如筆者的一位恩師所言，要「生死勿論」。 考完一科，稍作休息，便要複習下一科。若是最後一科，考完便應 好好地慶祝一番。 希望大家作好充分的預備，充滿信心的應付即將來臨的ACCA考試。 朋友們，加油呀！預祝大家考試成功。 ACCA