How can you avoid bias when evaluating salary offers?

1 Compare apples to apples

When you receive a salary offer, don't just look at the number. Consider the whole compensation package, including benefits, bonuses, equity, perks, and growth opportunities. Compare the offer with your current or desired salary, but also with the market rate for your role, industry, and location. Use reliable sources of data, such as salary surveys, online tools, or professional networks, to benchmark your offer and see how it stacks up against others.

2 Consider your goals and values

Salary is not the only factor that matters in your career. You also have to think about your personal and professional goals, values, and preferences. What are you looking for in a job? What are you willing to compromise on? What are your non-negotiables? How does the offer align with your vision and mission? Be honest with yourself and prioritize what is most important to you, not what others expect or suggest.

3 Beware of anchoring and framing effects

Anchoring and framing are two cognitive biases that can influence how you evaluate salary offers. Anchoring is when you rely too much on the first piece of information you receive, such as the initial offer or your salary history, and adjust your expectations accordingly. Framing is when you are swayed by how the information is presented, such as the order, wording, or tone of the offer. To avoid these biases, try to detach yourself from the anchor or frame and focus on the objective value of the offer. Ask for more information, clarification, or justification if needed.

4 Seek feedback and advice

Another way to avoid bias when evaluating salary offers is to seek feedback and advice from trusted sources, such as mentors, peers, or experts. They can offer you a different perspective, point out potential pitfalls, or suggest alternative options. However, be careful not to let them make the decision for you or influence you too much. Ultimately, you have to weigh the pros and cons and decide what is best for you.

5 Negotiate confidently and respectfully

Finally, if you are not satisfied with the offer or think you deserve more, don't be afraid to negotiate. Negotiating is not a sign of greed or arrogance, but a way of expressing your value and interests. However, you have to negotiate confidently and respectfully, avoiding emotional reactions, ultimatums, or unrealistic demands. Prepare your case with evidence, rationale, and options. Communicate clearly, politely, and assertively. Listen to the other party's concerns and interests. Aim for a win-win outcome that benefits both sides.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?