One must be well prepared to have an effective salary negotiation discussion. Do the research and believe in your worth and value add. HRCap will help you to learn effective salary negotiation tips!
1. Assess Current State
- Understand your current total package (base, bonus potential, stock options, health benefits, PTO, employee perks)
- Determine what you would be leaving behind if you took on a new job (stocks, performance bonus)
2. Conduct Due Diligence
- Fully understand and assess market-average and industry-average salaries by location
- If relocation is required, understand cost of living differences
- Determine your negotiables and non-negotiables
3. Communicate Transparently but Counter Strategically
- Provide a range for initial salary expectations, not a single figure for more leverage
- Do not feel pressured to accept the first offer if it doesn't meet your expectations
- Counter with rationale for your non-negotiables and kindly request for specific changes
Source: HRCap Road to Employment Guidebook
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