The 3 Numbers You MUST Know for Salary Negotiations
Lesa Edwards, Career Coach & Master Resume Writer4.12k
THE career expert for high achievers
October 19,2020 at 6:18PM UTC
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:
-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.
Browse recent posts
Seasoned EA here that’s been out of work since March. I’m burned out from the profession as a whole because of toxic executives, crappy office environments, or being significantly underpaid compared to other EAs I’ve worked with (the good ol’ discrimination trope).
I want to transition out to operations. I thought a lot of my strong skills would be transferable, but so many of these jobs need folks with backgrounds in something super specific that I’ve never been exposed to (industry, special software, years in the field).
One interview I had said my resume was great but I lacked financial reporting (a task not required for an EA, so never exposed to it). In the mean time, EA interviews aren’t going well because they feel I’ll become bored once they see the work I’ve done on my resume.
I just feel like I’ve reached a brick wall in how to properly elevate myself.
I’m venting, but also fishing for advice. Thank you for my TED Talk.
1 Like • 1 Comment
Where is the best place to look for a job, in your opinion?
I have been using all the job boards and going directly through company sites and I am still having trouble getting someone to actually read my resume/application. I am constantly getting ghosted or rejected for jobs I am qualified for.
1 Like • 5 Comments
I just had a Monthly Review Meeting with my Director at the company I've been working at as a Contract employee for almost 6 months and she said she wants to extend my contract for another month but in the meantime she will be posting my position as a Full time, permanent position (which consists of helping out 5-6 different departments) as soon as it is approved.
I did ask her if it would be possible for me to telework 1-2 days a week on the days that everyone is in the office since there is an online software to answer the phones for the front desk and she told me the position im doing temporary work for is not eligible for telework & that the phone software is "for emergency use only." Also, i mentioned to her that the staffing agency i work for initially told me that i would be able to telework TWICE A WEEK. Its funny how everyone can telework besides me.
I know I'm going to get a phone call from the Recruiter at my staffing agency tomorrow asking me if I want to renew my contract and I really don't want to because I have NO work life balance, suffer from anxiety, am extremely burnt out and am tired of having to drop everything I'm doing at work to cover the phones at the front desk EVERYDAY while everyone else at my job gets to telework 2-3 days a week and I'm forbidden to do so. In addition, the company I'm working for REFUSES to give me an increase in pay ever since I took on multiple duties in different departments. Would it be wrong if I told my Recruiter/Contact person at the agency I work for that "I am no longer Interested in working where I work at now and that I would like to be reassigned to work someone else thT is a better fit for me?" I CANT TAKE THIS ANYMORE!!!?????
1 Like • 11 Comments
I got laid off and now they want me to train my replacement.
How insensitive can companies get? Getting laid off is tough as it is. Now I have to train my replacement who will do my job for less money. I would love to just leave. How should I handle this?
2 Likes • 12 Comments
Interview Questions | Would the same question come up again in the 3rd round of interviews?
I am in the last round of interviews! Exciting but can't put my hopes up quite yet. My first two interviews had pretty standard questions and I was able to answer them very comfortably and even felt confident (which is rare bc normally i am shaking in my boots).
The second round, they barely asked 3 questions and were basically selling me the role (which I think is a good sign). One of the questions were, "Tell me a time you failed". I answered this as honest as I could and it was well received. However, I don't really have many failure stories as I try not to fail significantly. Maybe small mistakes (as i am writing this, i am thinking small mistakes might be a story I can share, but not sure.)
Next Interview is a Panel interview, do you think I will be asked the "tell me about a time you failed" question again?
Lastly, what are some Panel questions, you've received in the past? Just want to over prep.
Thank you in advance!
2 Likes • 6 Comments
Last week we celebrated World Gratitude Day, and this week is kicked off with World Dream Day.
These aren't fluffy, feel-good days.
Well, they don't need to be, if we give them their proper attention.
Gratitude contributes to our well-being, joy and success. Cultivating more of it on a regular basis has dramatic, positive impacts on our work and life, and it's free and easy to access. If you missed my post about it and how to add more of it to your life -- and why you career will love you for it -- you can read it here: https://lnkd.in/esH9v5qX
In a similar spirit, we have all the power within us to dream big, act on these dreams and support others as they pursue their biggest aspirations.
While this is another free and easy tool to access, how many of our dreams have we accomplished? How many have we forgotten? Dismissed? How many of us have what we consider our dream job? According to research, 90% of us don't!
In today's post on my blog "Reimagine," I share 11 ways to bring your dreams to life and the transformative implications that can have on your work life: https://lnkd.in/eTFFma7w