When negotiating a new role, few factors are as crucial as your future salary. This is often the make-or-break point of most interviews. Salary discussions can immediately heighten the tension in the conversation, potentially leading to automatic disqualification from the application process. It’s important to recognize that both parties often feel a similar sense of dread when approaching this topic.
Navigating the Salary Discussion
The fear of providing a salary number is common. If you quote too high, you risk being dismissed by the company. Conversely, if the company offers too low a salary, they may lose time waiting for another qualified candidate, which can delay their time to market and revenue.
Breaking the Status Quo
It’s normal to seek a higher salary when changing companies. However, there are guidelines you should follow to facilitate a smooth transition:
The Battle of Information
Salary data for most roles at most companies is readily available online. Being informed about your market value can help you set realistic expectations without directly revealing your current salary. On the other hand, you can expect your conversation partner to have a pretty good idea about your current salary. So how much is too much?
Setting Reasonable Expectations
Requesting a salary increase of about 10% is usually well-received by employers and can prevent prolonged negotiations and potential lost opportunities. Demanding a 30% increase without context might lead many companies to pass on your application, unless they are desperate and expect to compensate for your high with overtime or additional duties.
Special Circumstances
This guide may not apply universally. For instance, if you are significantly underpaid in your current role or are a freelancer transitioning back to a permanent position, honesty is crucial. Being transparent about your salary expectations with potential employers can lead to more accommodating offers.
By approaching salary negotiations with honesty and informed expectations, you can enhance your chances of achieving a favorable outcome while maintaining professional relationships.
