TribalScale hosted us for Let’s Make A Deal: Insiders’ perspectives on Salary Negotiations in Tech
Getting hired & negotiating a salary/benefits package
- Ideally this isn’t an adversarial relationship. Work with recruiter to both be happy
- Skills that matter?
- If you can’t get experience mentoring or leading at work, find it somewhere else.
- Interview stuff:
- You can talk about what you want to learn, to work on.
- Be human. Check if you are making assumptions about other humans during this process
- HR might get soured of you talk about salary before anything (skills, personality, goals)
- Compensation is more than salary. Everything is negotiable eg:
- signing bonuses
- relocation bonuses
- education costs
- extra time off
- personal project time
- In a competitive situation, can you justify being $5k more than another applicant?
- Hiring manger might be negotiating on your behalf inside the company.
- Salary bands are a thing at organized companies. Less organized companies might not have them
- HR does not need to know your current salary. Refocus conversation on your target salary. Know what you want to make at the new position.
- For salary references:
- PayScale is ok
- Glass Door is ok if there are enough data points
- LinkedIn has salary tool
- Practise talking about money with friends if it stresses you out
- Working with placement agency or external recruiter? Let them sell you. They know sales well.
Can you tell a story about how everything you’ve ever done has lead to the interview at this company?
Asking for a raise
- Be ready to sell yourself!
- When to talk about raises?
- As soon as your uncomfortable about salary. You might never be comfortable taking about money, so don’t wait.
- You asked for a raise? Experienced manager might be relieved to know what you are thinking. Other managers might be scared too.
- Companies on the ball will review salary bands and market salaries once or twice a year and see who’s salaries are an outlier.
- Were you offered a raise? It is OK to say ‘let me think about this is for a few days’ or even come back after agreeing to a raise to re-negotiate
- Whatever the raise talk was, send a follow up email so you have requests for raise in writing
- Stock options in lieu of raise? Know what options are. Know about events that dilute options. A lack of transparency about the value of options is a bad sign
- What happens if manager disagrees with your reasoning for a raise?
- Opportunity for manager to make a plan to get you to that raise. It might be a sign the manager has filled to provide feedback earlier.
- When negotiating salaries and benefits, think about what you really want and why
- Communicate like a human
- Carrie Gallant has a negotiations framework
- Don’t wait for people to pick you out. Sell yourself, it will feel great when it works