Before we get started, I want to talk about assuming good intent
What does salary mean to your candidate? Why is it important? How to work within your organizations parameters, draft a salary “plan” based on factors we uncover Setting the stage for positive negotiations – know what you’re up against and how to effectively counter by asking the right questions, navigating pushback, and real world solutions to common issues (candidate won’t commit to a number, other blockers) , and making both the hiring manager AND candidate your ally in these discussions Leveraging data for better decision making – also websites to help identify labor market information, cost of living differences, and an online job offer evaluator
The psychology of the salary
How to work within your organization’s parameters and compete
Setting the stage for positive negotiations
Make the Hiring Manager and Candidate your ally in these
Leveraging data for better decision making
What’s the Problem?
An adversarial mindset
“Us against Them”
Common HR / Recruiting myths
Really, REALLY bad advice
Guess which one is the recruiter?
What does the internet say about
What do the “experts” say?
“We know negotiating is tough and often unpleasant work. But it's also
necessary if you want to be paid fairly, get a raise or snag that promotion.”
“There is one, and only one, time to discuss salary in any detail: when they
say they’re ready to make you an offer.”
“It’s unfortunate that women can’t aggressively ask for what they want and
deserve without being perceived as a shrew or she-devil. Maybe someday.
Until then, it’s better to work around the double standard.”
“According to a recent study in the Journal of Organizational Behavior,
failing to negotiate on an initial job offer could mean missing out on over
$600,000 in salary during a typical career.”
If the company asks for a number on the application, leave it blank.
When the company verbally asks how much you'll take, you say, "I'm much
more interested in doing [type of work] here at [name of company] than I
am in the size of the initial offer." [the author] says this will suffice about
40% of the time.
If the company asks a second time, your answer is: "I will consider any
reasonable offer." This is a polite stalling tactic, and this will work another
30% of the time.
About 30% of the time, you'll reach this final step. Again, your response is a
polite refusal to answer the question: "You're in a much better position to
know how much I'm worth to you than I am." This is your final answer, no
matter how many times the company tries to get you to go first.
Questions to ask yourself
What is my range for this role/team/org? Where do I have flexibility?
What does the labor market say about this?
What’s in my favor? (strong salary, excellent employer brand, cool
What are my landmines? (low compensation, unrealistic HM requests,
What is my “pitch”? – factor in pros, cons, leave room for candidate
What is my personal discussion style?
Setting the stage with the candidate
When is the right time to
Questions you can ask
Why it matters
When is the right time to talk $$?
Early, often, and specifically
We have a role / team in mind
If the next conversation is with
Frame the conversation
“At some point, we are going to have to discuss money. I know many people
are not comfortable with that discussion, especially so early in the process.
Do you have any thoughts on it at this stage, or specific questions I can
answer for you?”
“I will have more definitive numbers once we identify the role and team, but
would it be helpful to talk ballpark ranges?”
“The most important thing is that we don’t get through an interview with a
lack of information, causing frustration and missed opportunities for both
you and the team. What do you think?”
Two week period
12 candidate screens
66% of candidates provided valuable information
Two candidates provided current & expected comp
1/3 did not disclose, but the stage is set
Explain why you’re asking
Empathize / understand
Turn the conversation to the market -
what’s reasonable? How does this fit their
More than just base salary – other
Decide if you CAN move forward, and
Transparency with hiring managers
After you. No, after you!
Does it REALLY matter who goes
Establish trust and credibility
Be conservative, but HONEST
Transparency at every point
Partnering with your candidate
Cover components of the offer, how does that compare to
existing comp and / or other offers?
I can’t beat what I don’t know
Weighing important factors – bonus, stock, relocation, sign on,
benefits – all must be taken into consideration
Confidential conversations – be a trusted advisor
Objective tools, salary insights
“Has anything changed since we
Revisit target comp discussion,
expected / conservative salary
How is the candidate “showing
up” during the interview? Senior
level money demands senior level
interview – act accordingly
Negotiating with Hiring Managers
Let the data speak for you
Keep track of previous offers,
If asking for exceptions, be
prepared to make your case
Competitive offers, information
What happens if we lose?
In Closing (see what I did there)
Always assume good intent
Transparency is key & sunlight is the best disinfectant
Remember YOU are the expert – coach, educate, and influence
http://www.salary.com/ free & paid resources, hard to navigate
www.glassdoor.com user generated content, YMMV re: validity of data
www.payscale.com more intuitive, lots of questions, log in required
www.bls.gov gov’t site, labor market statistics including career outlook
Job Offer Evaluator – Fidelity plug in current / proposed comp, factors in relocation,
additional perks, etc.