Useful information
Prime News delivers timely, accurate news and insights on global events, politics, business, and technology
Are you working under tiara syndrome? This term refers to workers who keep their heads down and do excellent work, hoping that superiors will take notice and that this will lead to a pay increase.
Unfortunately, working hard and getting great results is often not enough.
Getting a pay raise usually requires fine-tuned negotiation tactics, but the problem is that negotiation advice is always changing and often contradictory.
5 jobs to apply for this week
- Software Developer: Web, Uline, Pleasant Prairie
- Java Software Engineer, Envision LLC, Remote
- Software Developer, Booz Allen, Fort Meade
- Software Developer, ENSCO, Inc., Williamsburg
- Senior Software Engineer, The Travelers Companies, Inc., Hartford ($135,700 – $223,900)
academic advice
Traditional advice says to never make the first offer, as you are losing some of the power.
However, after recent experiments, advice from academics say that those who make a first offer, which “anchors” the negotiation favorably for you, obtain better results. But this is only true if you have a good idea of the trading range.
You can determine a negotiating range by researching market salary data for your position, industry, and location by checking out positions on the Venturebeat job board and on sites like Glassdoor, Payscale, and Levels.fyi.
Also consider your employer’s financial situation and internal salary policies. Define a range with a realistic minimum, an elastic maximum, and an ideal midpoint based on your research, and this will be your anchor point.
It also depends on who you are facing. Even if you set a high anchor (one that you believe is a competitive figure), more experienced negotiators may see it as an opening offer and try to push you away. By naming a price first, you risk losing leverage.
Traditional approach
That said, the traditional approach of not naming a figure has been tried and tested for many years and remains the preferred method of many who trade professionally on a daily basis.
This can be a bit of a fun dance, and unfortunately, many skilled negotiators enjoy it and are happy to drag out the conversation as long as necessary. Be comfortable in the silences and stay calm.
Instead of naming a specific number, guide the conversation toward a range. People tend to be more open to discussing general brackets and that gives you more flexibility. A simple “what kind of range do you have in mind?” works well, and once they respond with a range, simply repeat the range back to them as a question, for example, “So, between $120,000 and $150,000?”
This neutral question prompts the other person to elaborate or confirm their position. They might clarify their reasoning, adjust the range, or even reveal how flexible they really are. You want them to elaborate and explain themselves as much as possible.
If the range is less than you want, try asking what it is based on. Again, keep it open and casual.
If the other person thinks you’re aiming too high, have your background research and achievements handy. Try a statement like “Senior developers at (insert company name) earn compensation in the range of $180,000 to $250,000. How do you see my experience aligning with this?”
And track any cost savings, scalability improvements, and product enhancements you’ve delivered previously.
At all times, remain calm and always return to asking open-ended questions that probe the reasoning behind your proposal, for example, “Interesting, how do you arrive at this figure?”
5 more jobs to apply for this week
- Senior Software Development Manager, ASML, San Diego ($167,250 – $278,750)
- Experienced C++ Software Engineer, Wolverine Trading, Chicago
- Software Developer (Contract), DataAnnotation, Austin
- Software Engineer (New York), T. Rowe Price, New York
- Lead Database Engineer, TherapyNotes.com, Remote
Being able to understand and reflect the other party’s perspective means you can uncover key motivations, overcome objections, and create an atmosphere of collaboration.
But if all else fails and a salary increase isn’t on the cards at your current organization, it might be time to find something new.
According to career planning website Zippa, the average salary increase when changing jobs is 14.8%, and fortunately, there are new jobs updated daily on the Venturebeat job board. You can even upload your CV and receive a list of recommended roles, based on your skills and experience.
Ready to find your next job in technology? Visit VentureBeat’s job board today to discover thousands of positions at companies actively hiring.
