Salary negotiation

From Freephile Wiki

Avoid salary expectations before you receive a job offer. Simply avoid low-balling yourself, and also avoid hurting your chances because they think you might be uninterested or unmotivated given their salary constraints. It doesn't make much sense to go over salary expectations before you know specifics about the role, the total compensation components, company culture, team makeup and all the subtleties of the company and role.

Don't be afraid to negotiate. Just be professional. If you are professional, then it is expected that you will naturally discuss and negotiate your total compensation package in light of the conditions, and role.

Be realistic. Because you did your research and due diligence, and you've explored the opportunity in depth, and you understand the companies compensation philosophy and even have knowledge of the current compensation structure that you're trying to fit into, then it's easier to be realistic about the compensation that is fitting.

  1. Understand the components of your job offer because total compensation is a package deal.
    1. base salary
    2. performance bonus (and timing)
    3. equity grant (and vesting schedule)
    4. sign-on bonus
    5. perks and benefits
  2. Ask questions to do your due dilligence.
    1. Don't assume that you'll get an equity refresher (new RSU grant) each year. Ask so you can turn assumptions into solid expectations "according to plan".
  3. Research and Consult
    1. Check your sources. PayScale, Comparably, Levels.fyi
    2. Check with your career coach (or get one).
    3. Compare and contrast with competitors.
  4. Send your counteroffer to the recruiter
    1. Do the first three steps, then you're ready to make a counteroffer. Reference the research you’ve done on pay ranges, similar companies/competitors, and how the benefits compare. Present your salary counter over email instead of by phone. Email allows you to draft exactly what you want to say in a thoughtful manner while also ensuring you have everything in writing. An email also gives the recruiter something they can forward on and use internally to secure you a better offer. Make sure to be professional, kind and put your best foot forward. This is your first opportunity to showcase what it would be like to work with you.
  5. Handle objections, (negotiations) calmly, professionally and communicate to understand their constraints. Get the recruiter to advocate for you with the compensation team. If you can get a review, you can get a improved offer.
  6. Accept or Decline the offer.