The 3 Numbers You MUST Know for Salary Negotiations

There are 3 critical numbers you want to decide on before you enter into salary negotiations. The First Number The first number you want to bring into salary negotiations is your ideal salary number. The number you WANT to end up with. This number should be based on salary research in the geographic region of the job. Your ideal number within that salary range should be based on the following: -Unique skillset -Added abilities/skills that will save or earn money for the company -The value of your education/certification/license -Introduction through a strong referral -Individual learning curve -Supply vs. demand of the skillset you bring to the table This number can also be impacted by such things as excellent medical insurance or other benefits that will minimize your out-of-pocket, IF that is something that is important to you. The Second Number The second number is where you want to start salary negotiations, if you are asked to throw out the first number. Depending on the job market, your marketability, and the supply/demand ration of your specific job, that number might be 10%-25% higher than your first number. The Third Number This is the number many people DON’T go into salary negotiations with – at their own peril. The third number is your walkaway number – the number at which you know you will be looking for a new job from day one. You will regret accepting the job. This number can factor in your specific financial situation, although you won’t share that with the employer. The primary reason for knowing your third number is to avoid what I call the “shiny object syndrome” – agreeing to work for sub-par wages because of nice facilities or other perks that you don’t actually need and may not even use.