Research Market Salary for Your Target Role
Knowing your market value precisely is the foundation of every negotiation. Candidates who know their number negotiate better outcomes. Candidates who guess leave money on the table or price themselves out unnecessarily.
Knowing your market value precisely is the foundation of every negotiation. Candidates who know their number negotiate better outcomes. Candidates who guess leave money on the table or price themselves out unnecessarily.
Step by Step
Research salary ranges on multiple platforms Check Glassdoor Salaries, LinkedIn Salary, Indeed Salary, and Payscale. Search your exact target job title filtered by your location. Note the range across all platforms.
Factor in your experience level and current compensation You are currently employed which gives you a baseline. Your new role should offer a meaningful improvement, typically 10 to 20% above your current compensation as a minimum for making a move worthwhile, unless other factors like growth, flexibility, or culture are the primary drivers.
Identify your three numbers Your target salary: The number you would be genuinely happy with. Your minimum acceptable salary: The lowest you would consider given what you currently earn and the full value of your current compensation package. Your opening ask: 10 to 15% above your target to give room to negotiate.
Research the total compensation at your target companies Check Glassdoor and LinkedIn for information about benefits, bonuses, equity, and other compensation elements at your target companies. Total compensation often varies significantly even when base salaries are similar.
Tips for success
As an employed candidate your leverage in salary negotiations is higher than you may realize. You are not accepting an offer out of necessity. You are evaluating whether the opportunity is worth making a move for. That position, communicated confidently, often results in stronger offers.
Do not accept the first offer without at least asking whether there is flexibility. In most cases there is room to negotiate and employers expect it.