Here’s how opportunity seekers should approach compensation negotiation.
Today I want to talk to opportunity seekers about negotiating compensation. The No. 1 thing you need in order to negotiate for yourself in any situation is leverage. The best way to gain leverage in the job-search process is to have other viable opportunities.
When you have those opportunities, you can tell someone with confidence that you will make the best decision for your career overall when you get to the negotiating table. Compensation is certainly a big part of that decision, so you can bring up what pay structures you’re discussing at those other opportunities.
From my perspective, leverage is not something you want to fake. It’s to your advantage to always have multiple opportunities so you can use them as leverage points. There are some circumstances where that advice is not accurate, but most of the time, especially when you’re in an active search, you want to have multiple opportunities to help you successfully negotiate your compensation at your new position.
If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.