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HOW TO NEGOTIATE YOUR SALARY FROM START TO FINISH (A THREAD) #30DaysofThreads
Did you know, 84% of companies EXPECT you to negotiate? **Yahoo Finance***
Here's my formula...
Step 1: DETERMINE YOUR NEEDS
WHAT DO YOU DESIRE TO LIVE THE LIFESTYLE THAT YOU WANT?
Did you know, 84% of companies EXPECT you to negotiate? **Yahoo Finance***
Here's my formula...
Step 1: DETERMINE YOUR NEEDS
WHAT DO YOU DESIRE TO LIVE THE LIFESTYLE THAT YOU WANT?
Consider location, family needs, monthly living expenses, leisure (travel)
Which benefits are most important to you? Examples: Professional Development, PTO, Healthcare, Stock Options, Flex Options, etc.
**Salary only makes up 70% of total comp package**
Which benefits are most important to you? Examples: Professional Development, PTO, Healthcare, Stock Options, Flex Options, etc.
**Salary only makes up 70% of total comp package**
Make a list of what you want and prioritize them. You can negotiate for literally everything. Here's a few more...
PTO, Work From Home, Transportation Stipend, Equipment (phone, laptop), Student Loan Debt Repayment, maternity leave, relocation, better job title, 401K matching
PTO, Work From Home, Transportation Stipend, Equipment (phone, laptop), Student Loan Debt Repayment, maternity leave, relocation, better job title, 401K matching
STEP 2: DETERMINE YOUR CMV (CURRENT MARKET VALUE)
BASED ON YOUR EXPERIENCE, QUALIFICATIONS, & SKILLS, WHAT VALUE DO YOU OFFER?
To do this, create a brag sheet, including your accomplishments (quantifiable metrics). This also includes your education, skillset, leadership, etc.
BASED ON YOUR EXPERIENCE, QUALIFICATIONS, & SKILLS, WHAT VALUE DO YOU OFFER?
To do this, create a brag sheet, including your accomplishments (quantifiable metrics). This also includes your education, skillset, leadership, etc.
Do Your Research? Perform Competitive Analysis
You need to know the going rate of the jobs you're pursuing by job title. Varies per location.
Research salaries on http://Salary.com , http://Payscale.com , http://Glassdoor.com
You need to know the going rate of the jobs you're pursuing by job title. Varies per location.
Research salaries on http://Salary.com , http://Payscale.com , http://Glassdoor.com
Talk to industry colleagues - What is the going salary range for this field?
Befriend recruiters. Normalize the pay conversation. Don't run from it. You need to know.
Befriend recruiters. Normalize the pay conversation. Don't run from it. You need to know.
STEP 3: DETERMINE YOUR ASK
WHAT IS MOST IMPORTANT TO NEGOTIATE FOR? This is why prioritization is key.
Lowest of your range needs to be higher than what you want.
Don't ask for middle of your range & don't base on current salary (i.e. I make $55k, so I'm ok with $50k-$60k).
WHAT IS MOST IMPORTANT TO NEGOTIATE FOR? This is why prioritization is key.
Lowest of your range needs to be higher than what you want.
Don't ask for middle of your range & don't base on current salary (i.e. I make $55k, so I'm ok with $50k-$60k).
STEP 4: PLAN THE ASK
When interviewing, be prepared at any time and ready to discuss if receive verbal job offer.
Ask for a number first, otherwise don't be afraid to throw one out.
Know how your experience + skills will add value to the role specifically.
When interviewing, be prepared at any time and ready to discuss if receive verbal job offer.
Ask for a number first, otherwise don't be afraid to throw one out.
Know how your experience + skills will add value to the role specifically.
STEP 5: MAKE THE ASK
If you want more info on negotiating, with a script that's been used by several of my clients where they've gotten $20K+ more
http://www.lateshabyrd.com/shop for my course, 60% off w/ code GETTHECOINS
If you want more info on negotiating, with a script that's been used by several of my clients where they've gotten $20K+ more
http://www.lateshabyrd.com/shop for my course, 60% off w/ code GETTHECOINS
Lastly, you want to have 3 numbers in mind when negotiating.
1 - your OK number (settle number)
2- your ideal number (what you want)
3- your DREAM number (when you really get the bag)
So you don't get thrown off in conversation. Range should be at least $10K more than #2.
1 - your OK number (settle number)
2- your ideal number (what you want)
3- your DREAM number (when you really get the bag)
So you don't get thrown off in conversation. Range should be at least $10K more than #2.
