Tackling the Salary Talk: Jobseekers’ Strategies for Navigating Compensation Conversations
Discussing salary can be a high-stakes aspect of the job search, so we’ve gathered insights from CEOs and career experts to guide candidates. From promoting transparency and matching skills to pay to being explicit yet flexible with salary range, explore the eight strategies these professionals recommend for effectively navigating salary negotiations during the hiring process.
- Promote Transparency and Match Skills to Pay
- Research Local Market and Justify Expectations
- Inquire About Total Compensation Package
- Communicate Expectations with Industry Standards
- Present Salary Range Based on Value Proposition
- Articulate Value and Flexibility in Negotiations
- Justify Salary with Market Research and Experience
- Be Explicit Yet Flexible with Salary Range
Promote Transparency and Match Skills to Pay
Our hiring process is a two-way street. While you’re exploring opportunities at Carepatron, we’re also searching for exceptional talent to join our team. This means you have the chance to impress us just as much as we aim to impress you.
That said, we ensure that job seekers feel comfortable sharing their salary expectations by being fully transparent with what we can offer, along with how willing we are to extend it depending on their skill set and expertise. We don’t believe that companies should feel “pressured” to invest in their teams.
Instead, companies should have the mindset that by providing compensation most comfortable to the potential hire, especially to match employee performance and skills, is part of the norm.
Jamie Frew, CEO, Carepatron
Research Local Market and Justify Expectations
In my experience, conducting in-depth research on local job market norms and comparable positions is the greatest method for job seekers to navigate and express their compensation expectations. Being informed empowers candidates to provide a realistic and justifiable salary range when asked.
At Custom Neon, we appreciate when candidates are upfront about their expectations, as it sets the stage for open and honest discussions. A tip I’d offer is to approach the conversation with flexibility and readiness to explain how your skills and experience align with the salary you’re proposing. This demonstrates professionalism and shows that you are aware of your worth and the potential advantages for the company.
Jessica Munday, People and Culture Manager, Custom Neon
Inquire About Total Compensation Package
Aside from never saying a number first, job seekers should ALWAYS ask, “What is the total compensation for this role?” This is an important question to understand what the company offers outside of base salary (benefits, gym membership, stock, 401(k) matching, equity, etc.).
Once this is defined, it prepares job seekers to better answer the salary question if prompted for a number and/or range. By understanding the total compensation, candidates are in a better position to share what is most important to them, thus communicating their expectations. This also provides candidates with more leverage for negotiation on other aspects outside of salary.
Megan Dias, Career Services Coach, Parsity
Communicate Expectations with Industry Standards
At our company, we encourage candidates to approach this topic by first thoroughly understanding the industry standards and then clearly communicating their expectations based on their experience and the value they bring.
One tip is to frame your salary expectation within a range, which shows flexibility and a willingness to negotiate, while still setting a clear baseline that reflects your worth. This approach has helped many candidates secure fair compensation.
Khurram Suhrwardy, CEO, Caption Easy
Present Salary Range Based on Value Proposition
As a headhunter, I’ve seen candidates successfully navigate salary discussions by presenting a range based on their minimum acceptable salary and the overall opportunity (including both financial and non-financial aspects). It’s important to acknowledge that market rates, while indicative, are not the sole factors determining salary expectations due to years of experience, industry, functional expertise, education, network, and skills.
Instead, emphasize your fit for the role, your unique value proposition with concrete examples from your experience, express genuine interest in the position and company, and highlight your motivation to contribute meaningfully. By showcasing how your skills and experience align with the role and organization, you demonstrate your worth beyond a specific salary figure.
Furthermore, practice discussing your salary expectations to be more confident and convincing during negotiations. This approach not only allows for some flexibility but also provides a sound justification based on your value proposition and fit for the role.
Dawn Gulanes, Headhunter for Commodities Trading, Kepler Search
Articulate Value and Flexibility in Negotiations
Navigating and communicating salary expectations can indeed be a delicate facet of the job-seeking process, but it need not be a barrier to securing a role that meets both the candidate’s and the employer’s needs.
At MyTurn, we encourage candidates to first thoroughly research the industry-standard salary ranges for their role and experience level. This groundwork provides a strong basis for informed and realistic salary discussions.
A tip I often share is for candidates to focus on their value proposition: be ready to articulate how their unique skills and experiences will benefit the potential employer, making a clear connection between their capabilities and the company’s needs or challenges. It’s also beneficial to approach salary discussions with flexibility and openness to negotiate, considering other compensation elements such as benefits, work flexibility, and growth opportunities.
By preparing in this manner, candidates can confidently and effectively communicate their salary expectations, creating a foundation for a positive outcome.
Amit Doshi, Founder and CEO, MyTurn
Justify Salary with Market Research and Experience
In my experience, these are the three best things a candidate can do to communicate their salary expectations:
- Market research: Research salary standards for the industry and role you’re applying for, considering factors like location, company size, and level of experience. This helps set realistic expectations and provides a strong foundation for negotiation.
- Be prepared to justify the figure based on research and the scope of your experience: It’s crucial to back up your desired salary with concrete data. Explain how your skills, accomplishments, and experience align with the industry standards and the specific needs of the company.
- Keep the negotiation impersonal: Frame your negotiation around the value you bring to the company and how it aligns with their goals. This approach reduces tension and keeps the conversation professional, focusing on mutual benefits rather than personal preferences.
Geoffrey Scott, SEO Content Manager and Certified Professional Resume Writer (CRPW), Resume Genius
Be Explicit Yet Flexible with Salary Range
One of the most essential things job seekers can do during the hiring process is navigate and communicate salary expectations. Having worked at Fuel Logic (and Network Logic), I’ve seen the value of transparency and preparation in these conversations.
One of the best things you can do as a candidate is to thoroughly research the industry standards that apply to the position you’re applying for, taking into account factors such as location, experience level, and company size. You can find this information on sites like Glassdoor and LinkedIn Salaries, as well as in industry-specific forums.
Regarding salary, I always encourage candidates to be explicit but flexible. To say, “I’m looking for a salary in the range of $X to $Y, based on my research and personal needs,” shows that you’re well-informed, but you’re not afraid to negotiate. For example, you could say, “Based on my understanding of the role and research, I’d like to be paid between $X and $Y.” However, you’re more likely to be open to negotiating based on the overall compensation package.
In my role as CEO and owner, I valued candidates who could articulate their expectations confidently and back them up with their credentials and market research. It demonstrates professionalism and allows both parties to quickly identify if there is a match, providing transparency and respect during the recruitment process.
Eliot Vancil, CEO, Fuel Logic