How do I know how much money to ask for in my salary negotiation?
Tips to find out how much money to ask for in a salary negotiation.
Knowing how much money to ask for in a salary negotiation can be tricky. There are a gazillion sites out there, but somehow there’s either too much or too little information. It’s important for the money you ask for in your salary negotiation is rooted in context: size of company, location, years of experience etc. Follow these tips to do your market research.
Online Salary Sites
Online resources like Payscale, Glassdoor, and Indeed are good places to start when you want to know how much money to ask for in a salary negotiation. But, don’t stop there! Give yourself the challenge of talking to at least five real people.
The company itself
Do some online research and figure out how the company is doing financially, this will arm you with the information you need to negotiate a strong offer. You can also search LinkedIn to determine who is getting promoted —and how fast they’re doing it. This will help guide you towards quality, high-paying opportunities.
Your personal network
This may feel uncomfortable, but it’s important you talk to your peers when working to determine how much money to ask for in a salary negotiation. They’re the folks who are closest to you, and is your discomfort really worth sometimes tens of thousands of dollars you could be missing out on?
Recruiters & Headhunters
It’s in a recruiter’s best interest to know great candidates like you, so don’t hesitate to reach out. Tell them who you are and what you’re looking for. They’ll be able to share market rates for those kinds of roles, and now you’re on their radar for opportunities that are a good fit.
Professional and membership organizations
If you’re looking for a great place to get find compensation data, organizations like university alumni groups, religious institutions, and networking groups are all great places to search when you’re figuring out how much money to ask for in a salary negotiation.
Ready to overcome your fear of negotiating? Check out our Salary Negotiation 101 course. Folks who enroll in this course on average receive a $15,000 pay bump.
Now go get paid!