The interview process is an evaluation for the hiring company and the candidate. While it may seem taboo to discuss compensation, it is a necessary conversation that must take place early or midway through the process. My advice is once an opportunity feels like it has potential (think second interview), it's time to discuss the "hard stuff" and talk money. Ideally, this responsibility falls on the interviewer, but if they do not approach the topic, the candidate should feel confident bringing this up. The best way to do this is to ask the interviewer "at what point in the process can I expect that we'll discuss compensation?" or "are you the right person on your team to discuss compensation with me as we progress in the process?" In many states, it's illegal for a company to ask a candidate "what they earn" so this information is usually positioned as "compensation requirements" or "compensation expectations." The candidate should know their value and be prepared to share their reqs.
Data Scientist, Digital Marketing & Leadership Consultant for Startups at Consorte Marketing
Answered 4 years ago
People often make the mistake of framing salary requests in the form of a demand. They say something like, "The average salary for my job is X. I need you to pay me that or else I will look elsewhere." When people feel threatened, the natural response is to get defensive. So, framing a request for a salary increase in this way is unlikely to be persuasive and may work against you. Instead, get your manager on your team by aligning your goals. Say something like, "Right now I make X. I believe I've helped the company grow by improving my metrics in X areas, learning X skills, and taking on X responsibilities. I'm really hoping to track towards Y in the next 6-12 months. What areas would you recommend I focus on to hit my number?" Turn that into a conversation where your manager gives you very specific goals to achieve. If that happens, you've got a clear path to an improved salary. If they don't give you a clear answer then follow up until you get one, or explore other opportunities.
You might say something like, "Based on market research and the value I believe I bring to this role, I'm comfortable in the $80-90k salary range. However, I'd like to hear more about X, Y, and Z expectations of this role before honing down this conversation. Can you tell more more about these X, Y, and Z?" This strategy is not about catching your interviewer out. The idea is to flip your researched salary range back onto them all under the intention of earning appropriate compensation based on the role's actual responsibilities. Also, it's really important to remember salary negotiations are actually an expectation these days for most employers. You're not overstepping or ruining your shot by advocating for yourself here — so long as you've presented an educated range, then turn that range onto them for an enlightening convo.
Honestly the only way you can get what you want in salary negotiations is to come in armed with research, and with a strong sense of your non-negotiables. Research isn't just a quick online search. Speak to a variety of people in your profession who may have insights into concrete numbers. This is especially important if you are part of an underrepresented group. If you are a woman and only ask other women, you may be getting a lowball number if there is a wage gap issue in your field. Come in with a range in mind that is informed, and be prepared to show the supporting evidence. Knowing your non-negotiables and establishing firm boundaries is key. This is especially effective if you have other offers or are currently employed, so there is no sense of desperation. If they are unwilling to meet your requirements, you need to be able to walk away. Walking will call their bluff and get you what you want, or it will save you from a job that will never support your ambitions or needs.
Never go into a salary negotiation without having done your homework. Research the going rate for your position and make sure you know what benefits and perks are available at the company you're interviewing with. You don't want to lowball or highball your salary request during your first salary negotiation. That will only make you seem inexperienced or overconfident. Be confident in your experience and your worth, but make sure you're well-informed before sitting down to negotiate.
Hello, One of the best ways to maximize your salary is to justify to the hiring manager how your contributions and decisions for the company will generate a greater profit for the company. Managers are looking for candidates that work well with the team, but also contribute to the greater purpose. And if you can prove that you have experience drawing in additional profit from companies, then you will be more likely to attract a higher salary. The company will invest any amount into you, so long as your contributions generate an even greater return. Thanks, Jeff Neal
Author, Business Consultant, Host of The Goal Next Door Podcast at Clover & Kind
Answered 4 years ago
"Know your worth" is often uttered and commonly misunderstood when it comes to salary negotiations. Directly correlate your expertise to a prospective employer's needs by providing specific, measurable examples of how you will drive value in a way that makes you an irresistible candidate. For instance, referencing a former role in which you increased sales, reduced costs, and improved team performance, then tying it into your understanding of their priority company needs underscores your ability to design a plan and deliver optimal results. By clearly communicating the value you bring, you'll make it easier for employers to quantify and justify your desired compensation.
Once you settle on a dream role and salary – don't just keep it to yourself. Make sure department leads, managers, and other important figures in your team know your intent to move up the ranks. Always put your best foot forward and go above and beyond with every project. When new positions open up, you will be the first person on their list to interview.
Never give an exact figure. If a potential employer asks what you want in terms of salary, give them a range. It doesn't matter what you're currently making. It matters what you want to make. Remote employees should be able to make just as much as in-office employees, so don't let that deter you from asking for what you want. Generally organizations are willing to negotiate. If you're not satisfied with their first offer, be sure to counter.
Read the book “60 Seconds and You're Hired!” and focus on chapter 8 that deals with salary negotiations. It’s well known your time to be satisfied with compensation around your true value is before you sign the letter of acceptance. This resource is phenomenal in paving the way for that feeling to follow you during your time there. There’s work you’ll have to put in with research and other steps, but the ROI will be well worth it when you get your first paycheck. Besides salary talks, Robin Ryan’s book increases the odds of you getting hired, or at the very least making it farther in the interview process. I haven’t found a better way to approach interviews with more confidence than the 60-second sell.
One of the best ways to make sure you land everything you hope for regarding salary is by upgrading your qualifications. While some people may be able to get by with a bachelor's degree, this is not enough for many companies. Many employers are looking for candidates who have at least a master's degree in their field to ensure that they can effectively manage projects and clients. While this may seem like an expensive investment, it will pay off over time when it comes time for promotions or raises. Increasing confidence is another way which can be gained by more experience in your field. For example, if you're looking at becoming a sales manager, then it's important to get experience at a smaller company before moving on to larger ones. This will help build your confidence and ensure that you have the knowledge necessary to be successful in your new role.
If you're hoping to land a high salary at your next job, you can do a few things to ensure you hit your mark. Take inventory of your skills and experience and ensure they align with the job you're applying for. If you're applying for a remote position, for example, highlight any remote work experience you have on your resume. Startups are often looking for employees who are comfortable with change and able to wear many hats, so if that's you, make sure to emphasise your flexibility and adaptability. And if you're hoping to work for one of the FANGS (Facebook, Amazon, Netflix, or Google), research their compensation practices and make sure your expectations align with what they typically pay for comparable positions. Doing your homework and preparing in advance will increase your chances of landing the salary you're hoping for.
Don't ask for a salary that a company can't or won't pay—no matter what you think you're worth, what you hope to make, or how well you think you can negotiate. I've interviewed a ton of candidates over the years who have a number in their heads when it comes to salary. But that number's nowhere close to what we're prepared to pay for the position or what was advertised in the job description. Landing the right job with the salary you feel you deserve requires a lot of moving parts to come together in the end. But the most important first step is to do your research, know the range you're working within, and set your expectations appropriately. You can't come in hot for an interview demanding $200,000 for a $60,000 position—no matter how good you are at what you do.
Once you've got the salary offer, don't just answer with a higher sum. Even if your study backs it up, you'll be more effective if you articulate why you believe you're entitled to more. Highlight your talents by listing all of the benefits the company would receive from someone with your experience. Prepare clear examples of how your abilities and expertise can assist your new company's bottom line before negotiating your wage. You'll make a strong argument for why you should be paid more than the original offer by relating your talents to the position you'll be embarking on.
Know your self-worth and know the fair market value. Don’t sell yourself short, but don’t shoot yourself in the foot. One way to make sure you land everything you hope for in regards to salary is to know the salary you deserve (and need), and also know the fair market value of your job so your ask can be confident and supported. For example, if you believe your salary should be $30 an hour, yet the fair market value for that position is $25, you can accompany your ask with the reasons why you are asking for more, and what makes your skills $5 an hour more valuable. The best way to land your dream salary is to know your value and the industry value so you can create a compelling and confident ask regardless of if you're working in-office, remote, for a startup, or at one of the FANGS.
Even if you have been at your current job for a while, there is always room for improvement, including your salary. Even if you are not looking for another job, it’s never a bad idea to negotiate your salary, especially if it’s something you really want. Negotiating your salary might seem a bit scary, but it doesn’t have to be. With these tips in mind, you can make sure to get everything you want out of your next salary negotiation.
Most managers are data-driven individuals. They don’t like making decisions in a vacuum with little evidence to back their actions. To validate their decisions, they’re going to want to make sure the numbers are on their side. So when it comes to compensation, head off their own analysis and data seeking with numbers of your own. The reality is that managers just want to ensure they aren’t paying some amount that is way above market. By finding pay data that supports your request, even if you have to filter it to make the numbers look more favorable, you’re making their decision of saying “yes” a lot easier. Reliable compensation data coupled with a strong pitch is a surefire way to get everything you want in terms of salary.
Know what your worth and negotiate from a position of strength You need to be armed with information on what other people in your position are earning so that you can make a case for what you deserve. Sites like Glassdoor and Salary.com can give you a good idea of what others are making in your industry. Once you know the salary ranges. Don't be afraid to negotiate. In fact, most employers expect candidates to negotiate. Start by stating what you're looking for and then be prepared to back it up with empirical evidence of why you're worth that amount.
Run the comps to figure out what you're really worth. Find industry and even specific company wage ranges via Glassdoor and other online resources and measure how much revenue your position brings to the company. If you're creating value and bringing in decent revenues, you deserve compensation that reflects that. Those ranges help give you a jumping-off point for negotiations and reference them if you feel you're getting lowballed. You won't have to lie, and it won't be personal because the industry, not you, dictates the market rates. If you don't get an acceptable salary offer, negotiate, but be prepared to walk away. If you want the salary you deserve and you've reached negotiation limits, moving on is your best next step.
Being on both sides of business owner and employee, it helps to speak to the perks you have received at other jobs to bait them into a higher offer. If this new company doesn’t offer these benefits you mention, use this as a tactic to justify compensation in the form of a higher salary. Your new company out of pride will want to feel like they can compete with the best in the marketplace. Research the company ahead of time to see what negotiating power you have. The company may have benefits that come standard across all employees, regardless if they’re remote. This way you can avoid allowing them to use these perks to negotiate you into taking a lower salary.