This should be more of an ongoing process. You should always know what you are worth in the market. Don’t get complacent and always be interviewing if you suspect that you are undervalued.
I like the way you ended the article, looking at the bigger picture. I think negotiation has to be a balance between being too afraid to ask vs just thinking about money.
I remember I didn't negotiate anything when I got hired. But I was a new grad with no competing offers. I knew the big picture looked great for me in terms of money and career growth. And it paid off, got a promotion since then and that generated more money than any negotiation would have given me as entry-level.
Sometimes I wondered if I should just have asked for more. But knowing I had no leverage and it was a top-of-the-market comp for a new grad, I didn't sweat it
Great tips! I would add - never start a job feeling underpaid, it’s very hard to recover from it. In a lot of places the raises are in fixed percentages and not based on your contribution, so you can expect 5-10% each year in the best case scenario.
So for those who hate to negotiate and plan to prove themselves and receive
a very big raise - know that in most places it won’t work. You better start negotiating :)
Negotiating can be challenging, but you've made it simpler! Your insight about the idea that if you don't ask, the answer is always "no" is particularly noteworthy.
Eliminating the "what ifs" in your mind can be beneficial for asking for what you want.
This should be more of an ongoing process. You should always know what you are worth in the market. Don’t get complacent and always be interviewing if you suspect that you are undervalued.
Negotiating is hard. Thanks for sharing these tips. Should be helpful to those interviewing right now.
I like the way you ended the article, looking at the bigger picture. I think negotiation has to be a balance between being too afraid to ask vs just thinking about money.
I remember I didn't negotiate anything when I got hired. But I was a new grad with no competing offers. I knew the big picture looked great for me in terms of money and career growth. And it paid off, got a promotion since then and that generated more money than any negotiation would have given me as entry-level.
Sometimes I wondered if I should just have asked for more. But knowing I had no leverage and it was a top-of-the-market comp for a new grad, I didn't sweat it
And thanks for the mention, Hemant!
Great tips! I would add - never start a job feeling underpaid, it’s very hard to recover from it. In a lot of places the raises are in fixed percentages and not based on your contribution, so you can expect 5-10% each year in the best case scenario.
So for those who hate to negotiate and plan to prove themselves and receive
a very big raise - know that in most places it won’t work. You better start negotiating :)
Thanks for adding. Absolutely agree with you.
Working knowing that you are paid is a big demotivation for me as well
Is it a common thing to negotiate during annual salary hikes?
I don’t think so. But you can definitely ask when accepting a new offer.
Great summary and tips Hemant!
Very useful advice put here, Hemant!
This is one of the most pressing topics.
Negotiating can be challenging, but you've made it simpler! Your insight about the idea that if you don't ask, the answer is always "no" is particularly noteworthy.
Eliminating the "what ifs" in your mind can be beneficial for asking for what you want.
I still haven't managed to share the initial numbers. I'm always forced to share them. 😅