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Salary negotiations
I posted a few weeks ago about being aggressively recruited for another job, even though I've only been at my current company for a little over a year and I am very happy here. You guys encouraged me to at least interview, so I did (thanks for the advice!).
They let me know today that they are interested in hiring me and want to negotiate salary. I make $45k at my current company, but from what I understand, this is on the low end compared to other agencies in town. I know from the recruiter's initial information that the new company is willing to pay up to $65k, but now that they know that I only make $45k, I'm getting the feeling from the recruiter that they don't want to pay ME that much. I'm not up for any promotions here, and the average raise is 3%, so it will take me a long time to reach a salary even close to $65k. When I left my last company, they offered me $55k to stay and I declined, but that was because I hated the environment there so much that I wouldn't have stayed for anything. The recruiter is asking what it would take to get me to leave my company. Can anyone give me some advice with this?
Re: Salary negotiations
For sure ask for $65k. If they have already thrown that figure out then definitely use it. I think its worse when you cant get any figure or range at all from a potential company.
In my opinion they have a budget for the position then they see what type of candidates come in and then make the offer from there without going over the budget.
Of course compare apples to apples, 401k match, insurance etc. In my last negotiation I used 401k match difference to get the salary I wanted, I currently had 9.5% match (university) and was going to 4.5% tech company so that was a big deal.
That's what I was thinking, too, but my recruiter suggested asking for $55k. Apparently what they wanted to offer me initially was a bit lower than that.
There is the additional information that they've been trying to fill this position for MONTHS, they reached out to me several times about it, and I know there's a shortage of people in town that can fill it as it is a specialized field.
Was the willing to pay at 65K the top of the range? Ranges are created with a min/mid/max. Companies do not pay at the max normally and do not intend for any employees to work at the max. If the 65K came from the recruiter and/or person you interviewed with they may have looked at the max and quoted that as the most the company would pay. In reality most external hires would be placed at or below the mid. For most companies the mid is what the job typically pays in the market.
No offense, but I think this is the exact reason why men are still paid more than women. It's not just that employers value women less than men, but women value THEMSELVES less than men.
I read about a study where when men got a promotion or a raise, they felt it was because of their talent and effort. When women got a promotion, they credited luck and being in the right place at the right time.
Go for it! Why would you consider switching jobs if it wasn't to advance your career? Tell them you're read to take on a more challenging role, ready to advance your career and you should be compensated as much.
You're worth it!! Value yourself and ask for what you truly deserve.
The range given to me by several recruiters was 55-65k. According to my recruiter, the number they offered was lower than 55, so she suggested that we counter with 55 as a compromise. However, The only reason I am even considering changing jobs is because of the high range; I am very happy where I am now. I'm not sure how much I'm technically "worth," but I feel like the new company is taking advantage of my current salary to lowball me.
See if the recruiter will give you the full salary range for the position at that company. You have to consider base wage, incentive op, benefit package/costs, PTO, etc, etc. All these factor into the total rewards pkg. Some companies will pay less base but have higher incentive op....or higher base wage and crappy benefits. Every company has there own Compensation philosophy on how they price jobs to the market. I always recommend people to look at the whole range. This will give you an idea of where they are placing you IN the range. That is really the only way to see if you are being given a fair wage. Typically if you are fully qualified for a postion and have 5+ yrs experience related to the position then you should be around the midpoint. Other factors come into play that you will not be aware of like internal equity. We have some positions in our company where we just can not place someone at the mid because there are too many current staff that are placed low in the range.
FYI- I do this for a living and am certified in compensation analysis/planning.
Do not lowball yourself. Ask for $65K and then start working backwards. If you had an offer from your past company at $55K even if you would never have stayed there then do not settle for less than that amount and definitely take into account all the benefits and what you are really out of pocket for premiums, 401K, parking, etc.
This is your ONE and ONLY chance to get that higher figure so ask for the moon and settle on the stars. It sounds like they really are over a barrel and want you so make the most of it.
Boo...sorry you had to go though that. If it is a large company sometimes Recruiters do not always understand how Compensation works and will quote incorrectly. We run into this sometimes with new recruiters. Sounds like she quoted you the max of the range. As I explained in a previous response...employees are not supposed to reach the max. Did she ever give you the full range and the mid point?