In part one of our salary negotiation series, Danielle Lucia, Recruiting Manager at Ambrion, explained how to decode job offers and evaluate your market value. Today, Danielle will build on that foundation in this second part to discuss salary negotiations.
She will guide you through:
- Strategies to justify asking for a higher salary
- Considerations when switching industries or roles
- The importance of interview preparation in salary negotiations
- How to negotiate for better non-salary benefits
- Evaluating high-paying offers and when to be flexible
Q: How can I justify asking for a higher salary?
Danielle Lucia: If you want to command a higher salary, you’ve got to think strategically. Companies aren’t going to pay you more just because you ask nicely. You need to bring something to the table – an expertise or skillset they’re currently lacking.
Identify Your Unique Value
Ask yourself:
- What have I done in my current role or past positions that is truly valuable?
- Have I saved the company time or money?
- Created a process that made things more efficient?
These are some common reasons that can justify a higher salary.
Quantify Your Achievements
Whenever possible, put numbers to your accomplishments. For example:
- “I implemented a new automated reconciliation process that reduced month-end close time by two days and improved accuracy by 15%.”
- “I led a team that successfully integrated two ERP systems during a merger, completing the project three weeks ahead of schedule and $50,000 under budget.”
Highlight In-Demand Skills
Research the skills that are most in demand in your industry. If you possess these skills, make sure to emphasize them. For instance, if you’re in finance and have experience with specific analysis software, that could set you apart.
Q: What should I consider when switching industries or roles?
Danielle Lucia: If you’re switching industries or roles, be prepared for some salary adjustments.
Industry Switch Considerations
Let’s say you have a strong manufacturing background and are interviewing for a job at another manufacturing company. You’ll likely command a higher salary. But- let’s say you’re also interviewing at an insurance company. You likely won’t be offered top dollar because the employer will need to invest time in training and getting you up to speed. They still see your value, but from their perspective, they might feel like they’re taking a bet on you since you’re coming from another industry.
Role Transition Example
Here’s another example: Say you’re a senior accountant eyeing an accounting manager role at XYZ Company, but you’ve never managed people. You probably won’t be at the top of their salary range because they’ll need to train you in management skills. A company typically won’t pay you for something you’ve never done.
Weighing the Opportunity
As a recruiter, I want to get you the best offer possible. But you might not hit the top of the range if you can’t check all the boxes. That’s when you must ask yourself- Is the opportunity to learn and grow worth more than the exact salary you were hoping for?
Q: How important is interview preparation in salary negotiations?
Danielle Lucia: Interview preparation is very important for salary negotiations. Even if you’re in a similar role to your peers, you might describe your experiences differently. This is where good interview prep goes a long way. You need to be able to articulate your value clearly.
Analyze the Job Description
Look at the job description carefully. Are there things you know you can add value to right away? Great! But be honest with yourself – are there also things you’ll need to learn on the job?
Demonstrate Self-Awareness
Discussing your strengths and areas for growth shows self-awareness and can actually strengthen your negotiating position.
Preparation Strategies
- Research the company and role thoroughly
- Practice answering common interview questions
- Prepare specific examples that demonstrate your skills and achievements
- Have a clear understanding of your salary expectations and justifications
Q: How can I negotiate for better non-salary benefits?
Danielle Lucia: While base salary is important, don’t overlook the value of benefits and non-salary compensation. These can significantly impact your overall compensation package and quality of life.
Types of Non-Salary Benefits
Consider negotiating for:
- Additional paid time off
- Flexible working hours or remote work options
- Professional development opportunities or tuition reimbursement
- Health and wellness benefits
- Stock options or equity
Prioritizing Your Needs
Think about what’s most important to you. Maybe an extra week of vacation is worth more than a slight salary bump. Or perhaps the ability to work from home two days a week would save you money on commuting and improve your work-life balance.
Strategies for Non-Salary Negotiations
When negotiating benefits:
- Do your research on what’s standard in your industry
- Be clear about what you value most
- Be prepared to explain how these benefits will help you be more productive or satisfied in your role
Q: What should I be wary of when considering high-paying offers?
Danielle Lucia: Sometimes, you need to look at high-paying offers with a bit of skepticism. If most of the roles you are seeing for a Senior Accountant are paying $80-90K, but then one role is offering $105K, maybe look into that and ask yourself:
- Why are they paying so much?
- Are they having a hard time finding someone to work there? And if so, why might that be?
Sometimes, companies only want to hire A players, and because of that, they pay a premium.
Digging Deeper
So, what should you do? Here’s my advice:
- Ask questions in the interview. And I mean really dig in. Try to understand the environment and the expectations of whoever is in this role.
- One key question you should ask is, “Has there been a lot of turnover recently?” If the answer is yes, don’t be afraid to ask why.
- Also- pay attention to how the interviewer answers these questions. Are they being transparent, or does it feel like they’re hiding something?
Red Flags to Watch For
- Vague job descriptions or constantly changing role expectations
- Reluctance to introduce you to team members or show you the work environment
The True Cost of a High Salary
A high salary might come with hidden costs, such as extremely long hours or constant overtime, high-stress environments, or limited work-life balance. Next time you see a surprisingly high offer, take a step back. You have to dig and ask questions to ensure the opportunity is the right choice for you.
Q: Why should I be flexible in my salary expectations?
Danielle Lucia: I know you’ve got a specific number in mind – I get it. But here’s the thing: sometimes, being a bit flexible can open doors you didn’t even know existed.
The Big Picture
Think about it this way- There are a lot of opportunities out there. Is that extra $5K (which is only about $2,500 after taxes) worth walking away from a role you’ll be really happy in? Or one that could significantly advance your career in the long run? If there’s a job where you love the company and see real career growth potential, it might be worth considering, even if it doesn’t hit your exact salary target.
A Scenario to Consider
Say a role pays $85K, but you want $90K. Everything else about the role excites you – the company culture, the responsibilities, the growth opportunities. My advice? Have the conversation. Don’t dismiss it outright. Here’s why:
- You could walk away from that interview feeling like the experience and opportunity are worth far more than that $5K difference in the long run.
- Or, you might realize that it’s not quite the dream job you thought it was and that $85K isn’t enough to make it worthwhile.
The Value of Exploration
Either way, you win. Because any time you have a conversation with a hiring manager, you get a better feel for what opportunities are out there. You learn what you want – and what you don’t want.
Being flexible doesn’t mean undervaluing yourself. It means being open to considering the whole package – salary, benefits, work environment, career growth – and how it aligns with your long-term goals.
Final Thoughts
It’s not just about securing the highest number – it’s about finding the right fit that aligns with your skills, values, and long-term goals. By preparing thoroughly, articulating your value clearly, and approaching salary negotiations with confidence, you’ll be well-equipped to make smart choices about your career moves.
I hope the strategies I shared serve you well!