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How can you negotiate a product manager salary without burning bridges with your employer?

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As a product manager, you have a lot of responsibility and value for your organization. But how do you translate that into a fair and competitive salary without damaging your relationship with your employer? Negotiating your product manager salary can be a tricky and stressful process, but it doesn't have to be. In this article, we'll share some tips and strategies on how to prepare, communicate, and close a successful salary negotiation without burning bridges.

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Andre Albuquerque

Creating Fullstack Product Managers at One Month PM | Investing at Shilling VC | Prev: VP Product/Founding at Kitch…

1 Know your worth

Before you enter any negotiation, you need to know what you are worth in the market and in your company. Research the average salary range for product managers with similar skills, experience, and location as yours. You can use online tools, industry reports, or personal networks to gather this information. Also, consider your achievements, impact, and feedback as a product manager in your current role. How have you contributed to the business goals, customer satisfaction, and team performance? How do you stand out from your peers? Having a clear and realistic sense of your worth will help you set your expectations and justify your ask.

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Andre Albuquerque

Creating Fullstack Product Managers at One Month PM | Investing at Shilling VC | Prev: VP Product/Founding at Kitch (sold to Glovo)
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Run your research among people close to you. Do a benchmark analysis considering past experiences, company sizes, progression, and industries. It’s always incomplete data para do will be the analysis from the company and their benchmarks. It always leads to a more data-driven conversation.

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Wajih ur Rehman

Getting Things DONE Guy - Certified PSPO I ? - Product Manager (Healthcare, ERP, IT Solutions, Access management) - Product Owner - Agile Scrum Master
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One thing that I have found helpful is to identify your role, responsibilities and contribution on the side, other than the regular activities. Extended tasks that are getting completed, also the personal efforts like team motivation and collaboration which are helpful to everyone in adding value to company culture.

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Darshali Soni

Senior Product Owner | Writer | Product Management | Agile
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Knowing your worth would not be enough if you fail to present it well. The way we do research about company, salary range etc - we should also spend time on researching how you can convey your achievements, skillsets well. As having everything mentioned in resume is not enough.

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2 Choose the right time

Timing is everything when it comes to salary negotiation. You don't want to bring it up at a wrong or inappropriate moment, such as during a crisis, a busy period, or a performance review. Instead, you want to choose a time when you have proven your value, delivered results, and received positive feedback. Ideally, you should initiate the conversation a few months before your annual review or contract renewal, so you have enough time to prepare and negotiate. You also want to avoid asking for a raise too frequently or too soon after joining the company, as this might signal a lack of commitment or satisfaction.

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Andre Albuquerque

Creating Fullstack Product Managers at One Month PM | Investing at Shilling VC | Prev: VP Product/Founding at Kitch (sold to Glovo)
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Negotiate from a position of strength. Think what makes you worth more, the right moment, when you shipped or achieved something, when others might vouch, or when ROI is extremely clear. Make your pitch impossible to counter.

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Wajih ur Rehman

Getting Things DONE Guy - Certified PSPO I ? - Product Manager (Healthcare, ERP, IT Solutions, Access management) - Product Owner - Agile Scrum Master
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There is never a right or wrong time actually. If you are losing motivation, be upfront and confront the one in upper hierarchy about the cause which is effecting and why. Do make sure that the communication is not stopped at one level, relevant persons must be informed about your ask.

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3 Communicate effectively

Communication is key to any successful negotiation. You want to be respectful, confident, and professional when you approach your employer about your salary. Start by expressing your appreciation and enthusiasm for your role and the company. Then, explain why you are requesting a salary increase, using concrete examples and data to support your case. Highlight your achievements, skills, and value as a product manager, and how they align with the company's vision and goals. Avoid comparing yourself to others, complaining, or making ultimatums. Instead, focus on the mutual benefits and opportunities of a salary adjustment.

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Andre Albuquerque

Creating Fullstack Product Managers at One Month PM | Investing at Shilling VC | Prev: VP Product/Founding at Kitch (sold to Glovo)
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Prepare, prepare, prepare. Run scenarios. Have backup arguments. Structure your rationale with clear examples and an obvious set of reasons why your pitch makes sense. The more off guard you are the less power has your reasoning.

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4 Be flexible and realistic

Negotiating your product manager salary is not a one-way street. You need to be flexible and realistic about what you can get and what you are willing to accept. Don't start with your lowest or highest number, but rather with a reasonable and competitive range that leaves room for negotiation. Be prepared to back up your range with evidence and rationale, but also to compromise and adjust if needed. Also, consider other forms of compensation besides salary, such as bonuses, equity, benefits, or perks. These might be easier or more valuable for your employer to offer, and they might also meet your needs and preferences better.

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Andre Albuquerque

Creating Fullstack Product Managers at One Month PM | Investing at Shilling VC | Prev: VP Product/Founding at Kitch (sold to Glovo)
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Have a range of scenarios, accept that a negotiation is a conversation and understand those who care the least win negotiations. Have a BATNA (best alternative to the negotiated agreement) so you’re not pressured to cave. If not, know your range will be wider

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5 Close the deal

Once you have reached an agreement with your employer, you want to close the deal and seal the relationship. Make sure you get the offer in writing, and review it carefully before signing it. Express your gratitude and excitement for the new salary and the continued collaboration. Reaffirm your commitment and dedication to your role and the company. And celebrate your achievement and hard work. Negotiating your product manager salary can be a rewarding and empowering experience, if you do it right. And it can also strengthen your bond with your employer, rather than burn bridges.

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Wajih ur Rehman

Getting Things DONE Guy - Certified PSPO I ? - Product Manager (Healthcare, ERP, IT Solutions, Access management) - Product Owner - Agile Scrum Master
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Verbal has no value in corporate world. Proper documentation with least complex words is most important when it comes to agreements.

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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?

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How can you negotiate a product manager salary without burning bridges with your employer?

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2

3

4

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6

1 Know your worth

2 Choose the right time

3 Communicate effectively

4 Be flexible and realistic

5 Close the deal

6 Here’s what else to consider

Product Management

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How can you negotiate a product manager salary without burning bridges with your employer?

1

2

3

4

5

6

1 Know your worth

2 Choose the right time

3 Communicate effectively

4 Be flexible and realistic

5 Close the deal

6 Here’s what else to consider

Product Management

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