What do you do if you want to negotiate a salary but need to research market trends and salary ranges first?

"The only source of knowledge is experience." - Albert Einstein. Kicked off some great discussions on starting salary negotiations by first gathering current market trends data for your role. Look at job postings, tap into your professional network, and maybe check out industry reports. While job ads offer a range, networking provides personalized insights. Remember, this info lays the groundwork for negotiation, so ensure it's accurate and relevant to your situation. How do you gather your data? Share tips and let's guide each other towards successful negotiations!

Before negotiating salary, it's essential to research market trends and salary ranges to make an informed case. I utilize resources like industry surveys, job boards, and professional networks to gather relevant data. For example, if I'm negotiating a software engineer's salary, I compare pay scales in similar companies and regions. Armed with this information, I can confidently discuss compensation expectations during negotiations, ensuring they align with industry standards and my qualifications. This approach fosters constructive dialogue and increases the likelihood of a favorable outcome.

Start by analyzing the specific role, responsibilities, and required skills. Use platforms like Glassdoor, LinkedIn, and industry salary surveys to understand current market trends and salary ranges for similar positions in your area. Equip yourself with this data to make an informed and realistic negotiation.

Before negotiating your salary, arm yourself with knowledge. Initiate conversations with hiring managers in your industry. This approach isn't just about collecting data on salary ranges; it's an opportunity to understand what makes a candidate stand out. Ask what skills or accomplishments warrant a higher pay scale. Learn about industry trends and how your role fits into the bigger picture. This intel allows you to position yourself not just as a candidate, but as a valuable asset. When you negotiate, you're not just quoting numbers—you're demonstrating your worth and alignment with the industry's forward momentum. Make your preparation your leverage.

Also, try to understand the cost incidence of employees out of total turnover of the company and try to understand if the company is in the position to invest more in Human Resources.

A negotiation is two sided. Having been on the hiring side more than I have been on the interviewee side - I have always known that there is potentially more budget for the right hire. Especially for unique roles. So I would as a rule of thumb never take the first offer from a business - this tends to be a starting point. I would also try not to give too much information away including answering the questions "what are you expecting for a salary" Showing your hand first, can be damaging to the negotiation.

Also never take an offer given verbally as a given as once you get the offer and contract it's a done deal. Always ensure you nail down in writing the pay you will receive. Never sell yourself short.

Consider also the negotiation about the salary doesn’t necessarily mean increase the net salary, but can also include benefits like insurance, car, ticket restaurants, courses and so on, maybe reducing your life cost instead of enhancing the income.