She Strengthens

Cracking the Code: Mastering the Art of Salary Negotiation

When it comes to job interviews, there’s one question that can make even the most confident candidate squirm: “What are you looking for in terms of compensation?” It’s a query that can leave you stumbling over your words, unsure of how to respond without underselling yourself or scaring off the employer.

The Elusive Answer

I’ve asked several recruiting and hiring experts for their take on this dreaded question, and the consensus is clear: there’s no one-size-fits-all solution. However, a common thread runs through their advice – understanding your worth and being deliberate in your response.

Know Your Worth

Before diving into the negotiation process, research the market rate for your position. Websites like Glassdoor, Indeed, and LinkedIn can provide valuable insights into average salaries in your area. This will give you a solid foundation for your negotiation.

The Budget Question

In some states, like California, you can legally ask the recruiter about the budget for your role. While employers may try to sidestep this question, it’s worth asking. As Los Angeles-based executive recruiter and career coach Kyra Willans notes, “If you ask for the budget, and there is an official budget for the role, they legally have to tell you.”

Buying Time

If you’re not ready to discuss compensation, you can tactfully deflect the question. Try responding with a thoughtful inquiry, such as “Can you share with me the salary range the company scoped the role at?” This approach allows you to gauge the employer’s expectations without committing to a specific number.

The Range vs. Exact Number Debate

Different recruiters have varying opinions on whether to provide a range or an exact number. Some advocate for mentioning a range based on your research, while others suggest stating a specific amount. The key is to be calculated and avoid anchoring your expectations too low.

Previous Salary: To Share or Not to Share?

In some states, it’s illegal to ask about previous salaries. Even if it’s not, it’s often wise to avoid sharing this information, especially if you’re transitioning to a new industry or role. Instead, focus on the value you can bring to the company and how your skills align with their goals.

Benefits: The Unsung Heroes

Don’t underestimate the importance of benefits in the negotiation process. If the salary is lower than expected, ask about flexibility in benefits like vacation time, work-from-home options, or equity in the company. These perks can significantly impact your overall compensation package.

Consistency is Key

Remember to be consistent in your negotiation approach. If you initially stated a certain salary range, stick to it. Suddenly requesting a much higher amount can be seen as negotiating in bad faith and may jeopardize your chances.

The Takeaway

Mastering the art of salary negotiation requires research, preparation, and flexibility. By understanding your worth, being deliberate in your response, and considering the full compensation package, you’ll be better equipped to navigate this complex conversation and secure a salary that reflects your value.