Words that Win: Mastering Salary Negotiation in Tech
Happy 2024! Time for new goals and new dreams.
If a higher paying job is on your goals list for this year, then make sure you negotiate your salary when the time comes.
There are some wild stats out there about the impact of negotiating and your lifetime earnings.
For example, if you only negotiated your very first job offer in your career, and then never again, you could earn up to a million dollars more over your life.
Now imagine if you negotiated every time. That equals to mucho más dinero in your pocket over your lifetime.
But how do you best negotiate? Let's get into some tips.
Salary negotiation is an essential skill but many avoid it because of irrational fears and not knowing what to say.
Overall, it's not rocket science but there are helpful things you could say that position you competitively in your negotiation.
Below are some examples of what NOT to say, and alternative scripts of what to say instead.
"I am/was making X comp"
Don't share your current/previous salary, full stop. It's illegal in most states to be asked this question so def don't volunteer the info.
Instead, focus on the experience you'll bring:
"My skills and experience have helped me become a top performer in my role and I know I'll be able to hit the ground running in this position as well. I don't believe the compensation reflects the value and contribution I'm expected to make. Could we have a brief follow-up to make sure we are on the same page about the role responsibilities?"
"I need this comp to maintain my expenses"
Nobody cares about your bills, we all have them and your lifestyle choices are not the company's problem.
Instead, focus on your market value:
"I am seeking a compensation package that reflects the market value for my skills and experience. I've done market research and this seems to fall below what I'd expect for this role. Can you help me understand how the comp was calibrated?"
"I'm going to work hard and contribute a lot of value"
This statement by itself is vague and not believable.
Instead, focus on showcasing specific achievements:
"In my previous role, I led a team of 5 that achieved a 20% increase in ARR and acquired 8 enterprise logos last quarter including Amex and L'oreal. I am confident that my proven results will transfer and have a positive impact on this company as well. Given that, could we bring the total comp to X?"
Mastering the art of salary negotiation involves mindful communication, a focus on your unique value...and honestly just doing it at all.
Even if you stumble through it the first few times, it is better than not doing it.
Plus it gets easier and your confidence grows each time you do it.
Remember the company is being strategic in their offer and they expect you to negotiate.
Don't leave money on the table this year.
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SIDE NOTE: Want to know where to do salary research? Check out the workbook, specifically module 5.
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May all your dreams come true this year.
Want to know what I teach my clients who land at top tech companies?
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