To ask for a higher salary, express enthusiasm for the offer, then politely counter with a specific, researched figure, justifying it with your relevant skills, accomplishments, and market data, while being open to negotiating other perks if base salary is firm. Key steps include researching your worth, preparing your talking points (your value & market rates), and maintaining a confident, collaborative tone.
Just say that you're excited for the offer and ask if there's anything they can do to bump up the salary. Don't give a specific number unless you absolutely have to. There's always wiggle room in the first offer because they expect you to negotiate. Don't listen to the people saying it's too late now.
Make sure to research the average salary for people in your position and industry with the same level of experience. Then, come up with a figure to give your manager when they ask. Typically, it's appropriate to ask for a raise of 10-20% more than what you're currently making.
Standard raise: 3–5% — This is the most common range for annual salary raises, keeping pace with inflation and market averages. Cost of living increase: 2–3% — Many employers add a COLA adjustment annually. According to the Bureau of Labor Statistics, inflation averaged around 3% in 2023, making this a fair benchmark.
Here are some red flags to look out for when interviewing and negotiating your salary. Jump to a red flag: The recruiter won't continue interviews without salary details. Private company is offended when you question their equity valuation.
The 70/30 rule in negotiation is a guideline to listen 70% of the time and talk only 30%, focusing on understanding the other party's needs, motivations, and priorities through active listening and open-ended questions, which builds trust, reduces misunderstandings, and fosters collaborative solutions, making the other person feel heard and valued. This approach shifts the focus from simply stating your position to uncovering insights that lead to mutually beneficial agreements.
If the salary offered is within the low range for similar positions, consider an initial counteroffer 10-20% higher, and if the salary offered is within the average range, consider a counteroffer 5-7% higher. In addition to compensation data, you should research the cost of living for the area you'll be working in.
What is the biggest red flag to hear when being interviewed?
The biggest red flags to hear during an interview include interviewers badmouthing former employees, being vague about the role's responsibilities or expectations, showing disrespect (distraction, rudeness), having a disorganized process (rescheduling, poor communication), or pressuring you to accept quickly, as these signal potential toxic culture, lack of clarity, poor management, or high turnover. Defensiveness when asked questions, especially about turnover or the job's specifics, is a major warning sign.
The 70-30 hiring rule is straightforward: hire candidates who meet 70% of the job requirements. The remaining 30% consists of skills or traits that can be developed after hiring through onboarding, mentoring, or on-the-job training.
A 30-60-90 day plan is a document used to set goals and strategize your first three months in a new job . 30-60-90 day plans help maximize work output in the first 90 days in a new position by creating specific, manageable goals tied to the company's mission and the role's duties and expectations.
Most people agree that five years is the max amount of time you want to stay in the same job at your company. Of course, this answer changes depending on your pre-established career arc and the promotions within your company.
An annual salary of $50,000 is considered a middle-class income, and can be a comfortable wage for a recent graduate or a person starting a new career. A single person may not be able to live large in some areas of the country, but that doesn't mean they can't live comfortably elsewhere.
If you're earning $55,000 annually, your hourly wage is approximately $26.44 . To calculate this, divide your yearly salary by the average number of working hours per year — typically 2080 hours (52 weeks x 40 hours). So, $55,000 divided by 2080 equals an hourly income of $26.44.
The reasons include fear of rejection and discomfort about broaching the subject diplomatically. Often, it's hard pinpointing the exact reason. Maybe it has something to do with negative attitudes toward money are often passed from one generation to another.
“I really appreciate the opportunities you've given me to increase my responsibilities, like X and Y. I've been getting great results in those areas over the last year and have exceeded the goals we'd created. Could we talk about adjusting my salary to reflect this higher level of contribution?”
