It is that time of the year again for your year-end raise/review or maybe you are deciding to give the job market a shot! At Cherrypicker, we pride ourselves on connecting targeted opportunities to top talent and assisting those prospective candidates in obtaining the highest possible offer.
Our Cherrypicker talent representatives are here to guide you through your next opportunity and will never convince or coerce you to take a job on our platform. We do encourage all passive job seekers on the platform to do their own due diligence and research their market value based on their respective skill sets.
Let’s get right into it. Here are our top 5 salary negotiation hacks that will secure you the higher end of your ask:
1. Come from a place of high perceived value.
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You never want to admit if a job is the only opportunity you are interviewing for. If you admit that the company is the only show in town interested in your background, you are going to severely limit your negotiating power. You never want to appear desperate or unwanted.
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Job seeking is very much like dating – most men and women want what they can’t have. You don’t want to play games with your future employer but playing hard to get while expressing your interest level is the optimal strategy to obtain what you want.
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A company always wants to know if they are your top choice (don’t be afraid to tell them either), so set their expectations by communicating about where they stand in your interview process. It is okay to tell them that you are “torn” between opportunities, this will force their hand to potentially up the ante.
2. Never be the first person to throw out a number in the negotiation.
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You are often asked by hiring managers: “What are you currently making?” or “What are your salary requirements?”
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The first question is quite illegal in most states, so know your rights. You should never be judged on prior salary history. However, if a staffing agency asked you for your salary requirements, share it with them. Context about your salary expectations helps them do their job effectively and negotiate the best offer for you.
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If you are not using a recruiter and plan on negotiating your salary on your own, I suggest you memorize the rebuttals below, so you don’t get caught off guard.
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“I am seeking a competitive offer based on my skills in the marketplace.”
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“I don’t think it is relevant or appropriate to share my current salary level at this time, I expect to be reasonably compensated based on the experience level that I have and the projected responsibility of this role.”
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“Before I share my salary requirements, would you be able to share what other benefits XYZ Company offers, this will help me effectively share my compensation requirements with you.”
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We will get into how you go about researching your current worth in today’s market next.
3. Do your due diligence, know your worth. Knowledge obtained from networking and researching is the most effective weapon you can bring to a negotiation battle!
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Understand market conditions
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In December 2021, when this blog was written, we experienced the hottest candidate-driven labor market in history. Candidates have a ton of leverage in a negotiation as there are so many jobs but not enough qualified talent!
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Speak to recruiters who specialize in your space, they are happy to share market intelligence with you.
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Utilize tools like Glassdoor, Indeed Salary Calculator to get a rough estimate of the market average at your experience level, job title, geographic location
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Don’t be afraid to ask a hiring manager or recruiter what the projected salary range is for the position based on experience level. You can’t expect to get the high end of the range unless you check most of the boxes.
4. Uncover the hiring manager’s “hot buttons” then articulate why are you a great fit for the organization and role with confidence without being arrogant.
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Understand what the company’s “hot buttons” are.
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“Hot buttons” are driving factors or must-have skills needed to be successful in the particular role you are interviewing for. You can uncover these by simply asking: “what type of qualities or skills are necessary for someone to be successful in this role?”
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Once you understand the hiring manager’s needs, you want to highlight those skills/qualities that you possess without embellishing.
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You never want to oversell yourself; you will be out of a job within a few months as the truth will come out eventually.
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By understanding and reiterating the companies needs you are able to psychologically control the negotiation making it hard for them to disagree with you.
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5. Create urgency by leveraging a real (or fake) offer to get the highest possible offer.
(Disclaimer for this last hack, beware it is extremely risky and only recommended for certain situations.)
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This is particularly effective when you already have secured a solid offer that you want from another company and is a low risk of losing.
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The most fatal thing you can do is leverage a fake offer to get a counteroffer from your current employer. DO NOT DO THIS!
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Have an honest conversation about why you deserve a raise or warrant a higher offer based on the value you bring to the organization, if they don’t value you or give you a run around start looking for a company that does value you!
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Negotiations are often time-sensitive. Use this to your advantage in the appropriate situation. Understand that an offer can be pulled at any time if you are overly aggressive or wait too long to accept (Never wait more than 24-48 hours, it is a turnoff to future employers
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If you would like to finish an interview process out with another company that you are interested in but don’t want to lose a potential offer from another employer that you like, let both employers know that you would like to wrap up all interviews and decide by a reasonable date (example: end of the week).
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However, don’t expect employers to wait around if they find someone better. They want to hire people who want to work for them, make sure you make it clear that they are a top choice!
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