Tips on Having the Negotiation Conversation
Getting ready to negotiate your salary and benefits for a new job can certainly bring up the inner critic. Here are my top tips and resources to help you approach this important conversation with confidence.
Remember
Approach as a collaborative process. This is about creating a win-win for both you and the company; you are on the same team.
You DO NOT need to agree to anything or fully negotiate when you get your first offer; take the time you need to think about it, returning with questions and counter in a co-created timeframe. You may also be provided/ask for details of benefits packages, and may want to read over that before making any decisions.
Use Indeed Salaries to know the average salary/rates for the role in general, the role in your specific industry, as well as geographical reference. Look at the size and type of company - overall revenue, average client value, corp vs non profit - to note where they might fall in these ranges. This is the number you will provide for “expected salary”. DO NOT lead with what you have been making.
Know your minimums, including how additions like commission, bonuses, equity, or other benefits like time off or teleworking affect that.
Be patient. There might be extended back and forth not just between you and the hiring manager but also the hiring manager and any other stakeholders involved. If these are movers and shakers, it can take a while to move things through the process. Breathe, go do something fun, try to get your mind off of it!
EXAMPLE: THE Conversation
Recruiter/Position Hiring Manager: “What is your expected salary for the position?”
YOU: “I know that the [role/title] salary in [this industry] in [this state] generally range between [X and Y]. As a [leading company/non profit/fast growing startup] who values the unique talent and experience of their team members, I expect you to be [above/below average] - so around the $X mark. Am I close?
Recruiter: Ah, okay, yes, we have budgeted X so it sounds like we’re close… OR…”okay, well for this role we’re really looking at X because of “XYZ”, is that reasonable?
YOU: keep the conversation going, highlighting the value you add beyond “XYZ mentioned” with a counter, knowing your minimums. If salary can’t move, consider bringing in MORE elements to negotiate over - time off, teleworking, equity, commission % etc.
RECRUITER/MANAGER WILL LIKELY NEED TO GO BACK TO TEAM AND SIGN OFF ON ANY PROPOSED CHANGES. BE PATIENT, it’s a whole process that has nothing to do with you.