Candidates should know the truth about how offers are made. Most companies go about it in the same way. Make sure you know what the standard process is when negotiating a salary so you don’t stick your foot in your mouth.
Facts vs. Opinions
First, recognize that everything that goes into an offer will be “factual”. In other words, don’t expect a company to make you an offer based on what your friend earns in the same job or what someone told you that they thought your skills were worth. You will be much more effective if you stick to the facts.
Three Facts to Consider
- Current Salary: Base salary, bonus (how much and when is it paid), review periods (how much and when it’s paid) and any other special perks (company car, fully covered medical insurance, etc.)
- Team Salaries: How your background and skills compare to the team of people that you will be working with. If the most senior person is making 95K and your skills are below their level, you will make below their salary. A company is not going to throw off their pay scale to hire one person.
- Additional Skills/Learning Curve: Any valuable skills you bring to the table above and beyond what is desired or any of the required skills that you don’t have and may need to be trained on. This will either add or subtract to the final outcome.
Remember to stick to the facts when negotiating a salary. You never want to overprice or under price your market worth.