Part of accepting a job offer involves negotiating a fair salary. You want to earn more than you already do, yet stay within an acceptable range for your background and location. This is why you should research your market value before going into a salary negotiation. Knowing which range to negotiate in and having data to back up your request can help you secure the salary you desire.
Implement the following tips to determine the salary range you should request with your next job offer.
Use Online Tools
Resources such as Glassdoor’s Know Your Worth tool and PayScale’s What Am I Worth? tool provide an estimate for how much you should be earning. These tools let you input information about your job, years of experience, and location. Then, the tools use salary data inputted by users to determine an accurate estimate for your salary. You may want to use these numbers during a salary negotiation.
Reach Out to Your Connections
The members of your network who have jobs similar to yours may provide accurate salary information in line with your situation. You might want to ask what someone in your position should be earning so that your connections do not have to reveal what their own salaries are. Or, you could use LinkedIn to ask employees at different companies in jobs similar to yours what someone in your position should be earning. You also could participate in industry networking events to determine a standard salary range for your role. Make sure you talk with diverse professionals so their answers are less influenced by discrimination or biases.
Talk with a Hiring Manager
Reach out to a local hiring manager in your industry for their perspective on your situation. Include the job description and duties so you can get a comparable market rate. Mention the numbers you came up with in your research, then ask how they fit with the manager’s viewpoint. Also, find out how the manager determines salary ranges for their own employees. They might mention something you overlooked that can impact the salary range you plan to request.
Ask a Member of HR
Talk with an HR representative for more information about the position. For instance, find out what the role expectations are, how performance is evaluated, and whether there are opportunities for bonuses or raises. Also, ask what the benefits package looks like, whether the salary is base-only, and whether there is a sign-on bonus. Plus, learn about the growth trajectory for the role, how often performance reviews take place, and whether raises are contingent on the reviews. Include your findings when determining a proper salary range to ask for.
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