Recently I have seen some posts on LinkedIn about salaries and knowing how to negotiate your worth. It is a topic that is always close to someone's heart whether you are just starting out and not sure what your worth might be, or you have been out of work and you are trying to get your foot back in the career door, or you don't feel valued at your current position and you are passively looking for new opportunities with higher salaries.
Challenges that face candidates range from not knowing what the company budget is for any given position, to wondering if what you were making before falls anywhere close to what the company is willing to offer, to having self-confidence in knowing and believing in your own worth.
𝑯𝒐𝒘 𝒄𝒂𝒏 𝒂 𝒄𝒂𝒏𝒅𝒊𝒅𝒂𝒕𝒆 𝒏𝒂𝒗𝒊𝒈𝒂𝒕𝒆 𝒕𝒉𝒆 𝒄𝒉𝒂𝒍𝒍𝒆𝒏𝒈𝒊𝒏𝒈 𝒘𝒂𝒕𝒆𝒓𝒔 𝒐𝒇 𝒔𝒂𝒍𝒂𝒓𝒚 𝒏𝒆𝒈𝒐𝒕𝒊𝒂𝒕𝒊𝒐𝒏?
💲 Write down your top 5 skills that fit what the company is looking for in this position. When you start to talk salary you can back up why you think you are worth your number based on facts - your skillset, experiences and knowledge.
💲 Know what is your bottom line salary number. Go over your expenses, lifestyle, what you made in the past and decide on a number that you won't be able to go below. Now add a buffer of $5k-$10k. That should be your bottom range. (Keep in mind that you also have to research the position itself, find out if your number fits in with what the going rate is in your area) It has to be a realistic range that you are using. Sometimes we find that we are living outside of our means. And we need to take a deeper dive and face reality that we may need to make some changes in mindset and expenses to become more realistic when it comes to salary. Just be aware! The range has to be realistic!
💲 Conduct some informational interviews with others who are in the same career and ask if they think it is reasonable to strive for the range you chose based on your background, skills, knowledge, etc.
💲 There are some great websites that you can use to test the waters of your salary range. Payscale.com, glassdoor.com, salary.com, indeed.com, bls.gov, salaryexpert.com.
💲 If you are working with a recruiter get their feedback on your range and if they think it sounds reasonable. They are working in the industry and have that data based on jobs they have filled in the past and are working on now.
Not too many people like to talk about money so you are not alone. Try a few if not all of the above suggestions and see how that works for you. At the end of the day, you have to feel comfortable with the range you give because you alone have to sit in on the negotiations. You have to believe in yourself, your abilities, and ultimately the range of salary that you are asking for.
If you ever need any support please feel free to reach out. You can email me at email@example.com.
Good luck on your future career endeavors!