Insights to ensure you're valued and compensated fairly
This article was produced in partnership with HCM Dialogue
“What are your expectations for salary in this position?” Anyone who has been asked this question has likely struggled with the best way to answer. Asking for too little could be seen as having a lack of confidence, but asking for too much could be seen as greedy. While there is no perfect answer to this loaded question, there are some ways to prepare yourself to have the conversation with an employer in a productive and respectful way.
Do your research
To ensure you feel prepared to engage in a conversation about salary, it is important to do some research to look at comparable roles. After years spent working in fundraising, strategy and innovation, and teaching, Meredith Best believes solid research is an invaluable first step in the preparation process: “You will be able to speak more confidently if you’ve done your research ahead of time. This not only means looking at the salary of other similar roles, but also understanding the sector. While the core responsibilities might be the same in a specific type of job, the salary range can vary widely. Having worked in the non-profit, private and public sectors, I can attest to the differences I’ve observed in salary that have impacted my approach.” While it isn’t an exact science, there is typically enough information available, whether through online research or connecting with others in your network, to allow you to form a base-level understanding of what a fair salary would be.
Your research will also be impacted by how transparently salary is shared in the organization you’re engaging with, whether you’re aiming to move into a new role or looking for a raise in your current one. The culture of the organization, ranging from full to partial to limited transparency, will always be a factor. A transparent organization might include salary in their postings for new employees or have ranges available for current employees. Of course, the more transparent the better when it comes to pay, but don’t be discouraged if you have very little to go from. By doing some research in advance, you will feel more confident entering any type of discussion.
Understand the position first
Sometimes, having difficulty with conversation about salary can simply be the result of not fully understanding the position itself. In some instances, an employer may start the conversation about salary before you are ready to have it, and you might feel obligated to give an uninformed answer. In these types of instances, Best suggests being honest and open: “I’ve been asked about salary expectations during initial phone screenings, when I didn’t have enough information about the job beyond what was available in the posting. In these types of instances, I’ve let them know that I would be happy to have a conversation about salary but would want more information about their work, as well as the opportunity to share more information about my own background, skills and experience. When salary is revisited, let’s say after an in-person interview, I feel much more prepared and informed before providing my expectations.” This approach allows the conversation to be moved a bit further down the road while also showing that you are interested in this being a collaborative endeavor. Too often, salary negotiations can be made to feel like a competition where there is a “winner” and a “loser,” and one party may feel upset about where you’ve landed. In an ideal scenario, there is a middle ground where you both feel good about the conversation and motivated to move ahead with what you both consider to be a fair offer.
Understand your needs in other areas besides salary
It would be naive to suggest that salary and, typically, benefits aren’t top of mind for any of us, but there are other areas of overall compensation that may be negotiable and important based on your own specific needs and wants. If you can’t quite get to your ideal number for salary, assuming it’s still within a reasonable range, don’t forget that there are other areas that can be explored. For some of us, negotiating additional vacation days might be important, while others could be satisfied with incentives relating to their health and wellness. If you are interested in continued growth opportunities, you may be interested in exploring a larger professional development budget, including covering professional development fees, annual dues for professional designations or conference and event attendance (maybe even including a travel component). Wherever your preferences lie, you owe it to yourself to explore all areas of compensation before deciding whether you feel comfortable accepting any offer.
Unfortunately, a lot of people have been made to feel uncomfortable talking about salary in an open and honest way. No matter how satisfying or rewarding or aligned a position might be, there are very few of us who are going to perform at our best if we feel undervalued. How you engage with your employer, and how they engage with you, is important. So important, in fact, that it needs to be a priority when you consider accepting a new position or staying in your current one. We all have the ability to have this conversation, we just need the confidence to engage. Trust me, you, and your wallet, will be glad that you did.
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