Salary Negotiations for a New Role
Our goal is to provide a comprehensive guide for candidates to effectively negotiate a fair and equitable salary for a new role. By sharing how we as recruiters do our jobs, we hope to give candidates the tools they need to navigate salary negotiations under any circumstance at any stage of the process.
When you first meet with a recruiter and start to discuss compensation, they are trying to determine if the salary you are looking for is within the budget they have for a specific role, and to do so they need to understand your skills (current and transferable) and experience. Essentially, they are attempting to understand how quickly you’ll be able to get up to speed in a specific role and/or how much mentorship and support you’ll need to get there based on the job description and role brief they have received from a Hiring Manager or Discipline Lead. These factors determine where you approximately fall within a salary band (aka - the budget).
But how do we actually decide if what you’re looking for is within budget? By comparing your current + transferable skills and the salary you want, to the skills and salaries of those already present on your potential future team - this is known as Pay Parity.
A recruiter cannot just arbitrarily present you for a job if your range is beyond what others make at the company at that time. They also can’t make you an offer above a salary range without justifying your equity to a company. Well why not? Aside from being plainly illegal, pay transparency is unavoidable, whether companies want to openly admit that or not. Imagine starting a new job and you become best friends with a colleague, only to find out a few months later that while you make $100K, they make $150K, and you’re doing the same job. Not great, right? The result... you’ll likely leave that job for a place that values you equally to your colleagues. And what does that mean to the company that hired you and the recruiter you worked with? That we failed.
Below is an overview of our downloadable guide
Release Date: January 1, 2022
The Basics.
Know your rights: If a recruiter asks you what you make now, you do not have to answer (as In most states it's actually illegal!). Plus it does perpetuate inequities in pay. If you feel it benefits you to disclose this information, go for it, but the bottom line is that recruiters should not ask.
We are here to help: Keep in mind that your Recruiter (internal or external) is here to help you, represent you and should be there to advocate for you. They want to fill the job with the right person who will excel and be successful. The more they know about you, your goals, expectations, and what you’re looking for the better! And to knock one common question off the list, recruiters, unfortunately, don’t make any offer or financial decisions but they will advocate for you throughout the process.
If you’re working with an external recruiter: Set your recruiter’s expectations with a range you’re willing to interview at without limiting the conversation to one particular role and be clear if you are looking for specific benefits. While your salary expectations may change slightly based on a specific job, it does help recruiters to understand your general expectations so that they can think of you for future opportunities.
If you’re working with an Internal Recruiter: Set your recruiter’s expectations with a range you’re willing to interview at without limiting the conversation to seniority. It’s important to remember titles, and the responsibilities associated with a certain titles, varies (sometimes dramatically) from company to company.
About your range:
It’s important that the low end of the range is indeed the lowest salary you’d be willing to accept based on your current personal and professional situation, as well as any research you might have done.
Once you have decided what your lowest (and highest!) numbers are, consider if you’d be open to make a lateral move or even taking a pay-cut if your ideal job presents itself. Analyzing this information beforehand, and keeping this in mind throughout an interview process, will help you make an informed decision at the end of any interview process. While you don’t want to “price yourself out of your dream job” it’s important for you to assess what actually constitutes that. For example, if you’re looking to make a fundamental change to your career, it might be necessary, depending on how dramatic the change, to take a pay cut or move laterally. With that said, recruiters don’t want you to take unnecessary financial or professional risks, and should never try to convince you to do so.
Keep the salary range cohesive and honest. Things change, and recruiters understand that. You could have an initial conversation with a recruiter about a specific role, and as you learn more about it through interviewing, you may decide that your compensation expectations have changed. The point here is just to over communicate about money, and to not shy away from it at any point in the process.
Feel free to ask what the salary range for the role is! While not every Company will be willing to share that information during the first call, you can always ask! When learning what the salary range is for a role, ask questions like what do you think the identifying factors are for the low, mid, and high end of the salary bandwidth? Ask your recruiter how they believe you fit into it! They might not have a final and decisive answer for you, but this information might help make a more educated decision as you move forward with the interview process.
Be clear about specific needs: For example, are you looking for WFH roles only? Let your Recruiter know! Do you currently have access to inclusive healthcare benefits? Let your Recruiter know! Do you really value the tuition reimbursement you currently have? Your Recruiter should know that about you. They will do their absolute best to get you where you want to be and a good recruiter should let you know if what you’re asking for is not possible.
When to start negotiating and how:
Don’t wait until the end! Before going into a final interview, if your recruiter hasn’t brought it up, you should. Remember, your Recruiter is here to assist you and guide you along the way! It is important for you both to have open and honest conversations throughout the process.
Are you currently considering other opportunities that pay a bit more but you’re still very much interested in this role? Let your Recruiter know. You feel that your current company might make you a counter-offer? Let your Recruiter know. You’ve met with a few members of the interviewing team and your salary expectations have changed? Talk about it with your Recruiter. More is just more, as it helps your recruiter to advocate for you. Ultimately, we want you to find the right job for you, even if it’s not the job we have for you right now. We want to continue to work with you in the future!