Ask HN: Best Guide to Salary Negotiation?
Any suggestions? What resources helped you when negotiating a salary?
All the salary negotiation tips can be reduced to this: You have to have a better alternative. That means doing getting multiple offers within the same time period before you accept one.
All the other stuff goes out the window if you can do this. You can be a terrible negotiator. You can mention a number up front. It won't matter if you have other alternatives because it's easy for you to say "I'm sorry. I have an offer for $X more."
Agreed. I have ended job interviews that begin with salary expectations. I bought Josh Doody's book [1] a number of years ago and it had an immediate effect on my compensation level.
There is a newsletter I think you can sign up for as well now.
Know what you are worth. Never mention a number first. Be prepared to walk out.
Also consider other compensation - at this point in my career I'd really rather have an extra week or two of paid vacation vs a higher salary.
As with every negotiation it's not about what the seller (you) want, but what the buyer is possibly willing and able to pay. Look at their ROI. If it is positive, they will buy. Your goal is to take as much as possible of that ROI for yourself. So it's really about being well-informed about those numbers and then just explaining them, sticking to it and walking out, if necessary.
Never mention a desired salary. If they put you in a position where they stall to continue without hearing what you want, just shoot for the stars. I like 1.5x current salary. It gets a lot harder around 150k, at which point switch to current salary + 50-60k.
Make sure you know your minimum number. If at any point their offer is less than your minimum, simply walk away.
As a rule of thumb, always ask for at least 10% more than their initial offer -- even if you are happy with it (Unless they are matching a number you gave them -- which is part of why you don't). Recruiting has already accounted for and expects negotiation in their offer. It's their job to hope some sucker accepts a low ball. Worst case they say no, best case they say yes... and usually it'll fall somewhere in between. Doesn't hurt to ask; and in most cases, you'll come out ahead. Just do it.
Signing bonuses can be a useful way to squeeze an extra 10% if they absolutely refuse to budge on the base. Some signing bonuses require you to pay them back if you leave before a certain time period. Don't let this extend beyond the first year.
Stock options are worthless imo. They typically vest over 4 years and you don't get anything until you've been there a year. Don't let them compromise your base. Especially if the company isn't publicly traded. If you do get them, treat them as a nice surprise bonus.