The Best, Fool-Proof, and Potentially Least Stressful Way to Negotiate a New Salary
Have you seen the TikTok and LinkedIn career gurus giving advice for how to negotiate a new salary? What data to pull together? What to wear? How to phrase your ask? When to ask?
Our strategy is simple, “Go out and get job offers.”
Our strategy works because of these truths:
Your employer knows what you are worth to them;
Your employer knows how much you are worth relative to your peers;
Your employer knows what your future worth might be to them and relative to your peers; and
The only way to determine your true value is for the market to tell you.
Your employer thinks they know you, but do they? That’s where truth #4 comes in.
Have you been in this situation before?
You: I would like a 10% increase to my base.
Employer: We just don’t think you’re there yet, let’s give it some time.
You: But I’ve been doing all of these things great and have had measurable outcomes.
Employer: Yes, and we value you, we just need to see how things pan out.
What if the situation went like this?
You: I would like a 20% increase to my base salary to match my market value?
Employer: How do you know your market value?
You: I received this job offer from a similar company and the offer is 20% higher than my base. I would like to stay here because I really love the team and the work I get to do. Are you able to meet me at my market rate?
That conversation will likely end in your favor because of Truth #4 – the market told you your value. How do you find out your market value? Go out looking for jobs and talk to a recruiter.
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Written by David Brady, Chief Talent Connector