Understanding Worth:
From my own experience, I’ve found it rewarding to understand my contributions to an organization, whether it’s by assessing my performance in my current role or anticipating the impact I would have on a new team (Organization). By comparing my skills and experience against the average market rate and evaluating how much revenue I would likely generate in a particular position, I would have a clearer understanding of what my compensation request should be.
I’ve always believed that my compensation package should positively correlate with the value I bring to the organization. When I understand the impact I can have, I can confidently negotiate a fair compensation that reflects my worth. However, this can sometimes be challenging when a recruiter asks for my salary expectations during a screening call or when filling out an application form. In these situations, I ensure that my expectation aligns with both the market average for the position and the organization’s market share.
Articulating Value:
By understanding my value, I recognize how important it is to clearly articulate why I’ve set specific compensation expectations for myself. I align my worth with the organization’s needs and what decision-makers are seeking. To prove my value, I provide a detailed list of my past achievements and performances, explaining how my contributions have positively impacted previous roles, projects, and milestones. I highlight any certifications, skills, and additional accomplishments to justify my compensation expectations.
Preparing for Negotiation:
Before entering into negotiations, I start by thoroughly understanding the specific skills and expertise that make me stand out. I compile a comprehensive list of relevant achievements, certifications, and projects that directly demonstrate my impact in previous roles or current ones. During discussions, I highlight these successes to explain how my unique abilities align with the organization’s needs and goals.
Timing My Negotiation:
The Right Moment: It’s important for me to understand the organization’s financial health and budget cycles when choosing moments that provide the best opportunity for a favorable outcome. These moments could include the final round of interviews for a new role, delivering a significant accomplishment, closing a prosperous deal, receiving feedback, or during annual or performance reviews.
Negotiation Strategy:
When entering negotiations, preparation is key. I ensure that I have all the relevant data and achievements to support my case and present my expectations clearly. I approach it with confidence and listen carefully to their perspective. Flexibility is important at this stage, whether in a new role or a current one. I start by anchoring my expectations at the highest bar and then negotiate down to an acceptable standard. The outcome of these meetings is always a win-win—either by getting what I want or, at the very least, clearly illustrating my value and needs to decision-makers, which is valuable for building long-lasting relationships.
Conclusion:
I end these conversations with a focus on the mutual long-term benefits of reaching a fair agreement. It is always in the context of an investment that the organization is willing to make in my contributions, and I express my willingness to grow with the team. In career and salary reviews, understanding career growth opportunities within the organization is important for highlighting my interest in future roles. This meeting should be a cornerstone for future discussions about career growth and further compensation reviews.