Master the Art of Salary Negotiation: The Ultimate Guide to Winning the Salary Negotiation Game
TL;DR - reading good books, listening to new artists, and learning how to play the salary negotiation game
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From the Desk of Alex
What I’m Reading: this book has given me such a different outlook on product marketing and how to capture the mainstream
What I’m Listening To: this artist if you want a slight change to your lofi beats routine. (also not the baby beats playlist, iykyk)
My Failed Attempt At Negotiating
In my first job out of college, I was being severely underpaid. But, I didn’t know it at the time.
Turns out, I was making $10,000 less than my male counterpart.
I remember trying to negotiate when I got the initial job offer - I was on the phone with my future employer, palms sweaty, nervous, unsure what I was supposed to ask for. I just knew I was supposed to ask for more, right?
I had no template on how to position myself for success.
My negotiation tactics were quickly shut down and I resolved that ‘I tried. That’s better than most, right?’ (Which is true, only 34% of women negotiate job offers)
No more gatekeeping salary negotiation - let’s jump into the guide.
The Pyramid of (any) Negotiation
In business school, I took a Conflicts, Resolutions, and Negotiations class. The most important lesson I learned was that research and reflection are the building blocks to a successful negotiation.
Alex’s Salary Negotiation Guide
Research:
The first step in salary negotiation is gathering information on how much you’re ‘supposed to make' - aka how does the market price your labor?
First, start by identifying your desired job title, location, experience, and company size. Be sure to identify similar job titles as well (for example, a product manager at one company could be a product owner, product analyst, or project manager at another!)
Next, enter your job information into websites like:
Levels.fyi - Great for working in tech for larger tech companies. Levels.fyi is one of the most trusted salary transparency tools in the tech industry.
Glassdoor - Good for looking at jobs outside of tech or at a variety of different sized companies. There are reports that Glassdoor inflates some of their salary reports. If you use Glassdoor, I would recommend comparing it to other sites as well.
Salary.com - Similar to Glassdoor
To cover all my bases, a listicle of other Salary Transparency websites.
These websites should give you a range of what you’re expected to make.
Self Reflection
Before jumping into the official ‘negotiating’, we need to do some very basic self reflection. As I shared above, just asking for more money doesn’t get you very far.
But here’s the secret - you don’t need a killer pitch. You only need a few facts to back up your request.
Review the job offer and job description — what qualifications do you possess? What are you bringing to this new role?
Prepare three different qualifications you have for the role.
Fill in this template:
Hi {Recruiter} - I wanted to see if there was any wiggle room in the offer letter. I am coming to {this job} with {skill #1}, {skill #2}, and {skill #3}. I’m really excited by this opportunity and want to see if we can make anything work.
Negotiation
I recommend negotiating your offer after you have the contract in your inbox — this way you’ll be able to review the fine print and craft your case.
For the actual negotiation:
Set up a call with the recruiter or hiring manager (this can be done over email, but better over the phone!)
Ask a few more general questions about the role (I use this part to build up courage!)
Then, use the template and pitch your value! (you’ve already done the hard work — now it’s just time to ask)
Catch ya next time!
—Alex the PM
