Debunking Salary Negotiation Myths
Pay package negotiations are always a hot topic and there are a lot of opinions and advice out there on how they should be handled. Here is our opinion on some typical things we hear about how to work through negotiations:
1. “Always ask for more after the first offer.” – Yes and no. This depends on how far you want to push it. If you gave a range to the employer up front, and they met or exceeded the range, it is our advice that you do not push for more. If they are below the range and you feel comfortable, then you need to decide if it is worth the extra money. We have seen offers pulled when an employer makes an offer within the candidate’s stated range, and the candidate ask for $5 - $10k more.
2. “Never give them a number first, always make them give their number first.” – I personally do not agree with this one. I always ask candidates for a range they are seeking in their next role. I do NOT ask what they are making now (It really is not pertinent to negotiations, it is against some employer’s policies, and is illegal in some states.) I speak with Executives within all types of companies daily. These tenured Executives come to the table with a range of what they want, are very upfront and professional about it, and they never make you guess.
3. “Don’t give them a number at all. Tell them you will evaluate the offer when it comes.” This is terrible advice. This happened quite frequently with candidates from 2020 – 2022 and was a trend that some candidates got lucky with, but it is not an effective strategy. Most recruiters, including myself, will end the conversation immediately.
4. “Do your research, know your value.” – Absolutely. What are other people in the market asking? What are other companies in the market paying for this type of position. When doing your research, make sure the job descriptions align properly and you are not just operating from job titles.
5. “Evaluate the entire package, not just the cash compensation.” – Definitely. Insurance, PTO, remote vs in office vs hybrid, 401K plan, bonus, stock options, and more can come into account when negotiating a pay package. Understand the Insurance deductibles. Make sure you know how often you are expected to be in the office if your role is designated hybrid or remote. Factor in stock options as not all stock is created equal.
There are a variety of different opinions, articles, and blogs about salary negotiations, but none of these fit every situation. These are some of the most common things we hear, and our opinion on how to handle each piece of advice.