How can you determine a fair salary offer?

Ditch the 2 hours it will take for this work. Use this prompt on Google Bard or Bing AI (both are free and can search the internet) "You are an expert recruiter specializing in understanding salary trends in the market. I want you to tell me detailed salary trends for a {Job Title} with {years} in {Industry}. The candidate has {skills/certificates}. Search the internet, specifically, Ambition Box, PayScale, LinkedIn Salary Calculator, Glassdoor, Levels.fyi and other similar websites. Please check the URL's you give me to make sure that they are accurate. Respond in markdown with the following sections: - A summary of the salary trends and range for {job title}, {years} and {industry}. Give the data from each of the websites separately"

Congratulations! You just got a salary offer! But wait. Don't directly accept the first offer you're given before doing the following: 1- Ask people in the same industry/position about their salaries to see if they're close to your offer. 2- Check Payscale, Glassdoor, Indeed.. 3- Google the salary range for this position, in this specific country/city/state. 4- Do all of the above while considering your years of experience, courses you've taken, certifications you've earned, and skills you've developed.

I prefer to Start by exploring into the current job market to understand the prevailing salary trends and industry standards for your position. You may Utilize resources like online job boards, salary comparison websites, industry reports, and networking connections to gather relevant data on compensation packages offered for similar roles.

Market Research is imperative when negotiating salary mainly from a comparative perspective. It's always good to do a comparative analysis of what the industry is doing and what they are paying. Try to always be in or above the industry rate.

First, research the market! Websites like Glassdoor, Salary(.)com, Indeed, Payscale, and Levels(.)fyi can help you see what others in your field and location are making. Don't forget to factor in your experience, skills, and the size of the company when evaluating their data. Second, know your worth! Highlight your unique skills and achievements to justify a higher offer. Finally, be realistic. Aim high based on your research and value, but be flexible to negotiate. Remember, benefits like health insurance matter too!

Salary cannot be determined solely by years of experience, last drawn salary or education level; rather, it should be based on our skill level for a specific level of position. For example, the skill level required for a Manager position will differ from that of an Executive level. We are either competent, overcompetent, or incompetent to fulfill the assigned role. Conducting interviews or technical ability assessments is one way to examine our competency level, and once proven, we should be compensated accordingly.

-Take an honest inventory of your skills, qualifications, experience, and achievements. -Consider factors such as specialized expertise, certifications, unique contributions to previous roles, and any additional value you bring to the table. -Assessing your value helps you gauge where you stand in the market and what you deserve in terms of compensation.

Best way to assess your value is get other offers or interviews with a salary range. Saying you researched the market is meaningless

In other to know your value as a resume writer, You should highlight your unique skills, accomplishments, and potential, and quantify them with concrete examples and metrics

Your unique combination of skills, experience, and achievements can significantly impact your market value. Don't just compare job titles. Actionable Tip: Make a list of your unique accomplishments and how they've benefited your current or previous employers. This could include revenue growth, process improvements, or successful project completions. Example: If you led a project that increased company revenue by 15%, quantify this achievement in your assessment.

Next step I do is I choose on a salary range. Based on your research and self-assessment, determine a salary range that aligns with your skills, experience, and market value. Aim for a realistic range that encompasses your minimum acceptable salary (bottom line) and your ideal salary (top end). This range provides flexibility during negotiations while ensuring you receive fair compensation.

When choosing a salary range, consider factors such as industry standards, your qualifications, geographic location, and the company's budget. Research comparable roles and assess your worth based on experience, skills, and market demand. Aim for a range that reflects your value while remaining competitive in the market and aligning with your financial needs and career goals.

As a resume writer, before choosing your salary range, you should make sure that your range is realistic, consistent, and reasonable, and that you are comfortable with the lowest and highest numbers.

Now that you have researched the market and considered all of the factors (education, experience, skills, etc.), it is time to choose a salary range. If a recruiter or hiring manager asks for your salary expectations, you want to be equipped with the insights to give them a reasonable range. I mean, you don't want to give them a number that is too low and you don't want to lose the opportunity if that number is too high. The best way to position yourself for success is to offer a salary range based on your market research as well as your current (or previous) compensation package.

Choosing a salary range instead of a single number offers flexibility during negotiations, acknowledging the potential value a candidate brings to the role. It allows for consideration of their skills, experience, and market conditions, enabling a fairer assessment of their worth. Additionally, presenting a range demonstrates openness and willingness to engage in constructive dialogue, fostering a more collaborative and transparent negotiation process that aims to meet both parties' needs.

Anticipate the negotiation process by preparing key talking points and strategies. Practice articulating your value proposition, highlighting your qualifications, accomplishments, and why you deserve the salary you're seeking. Also, be ready to discuss non-monetary benefits or perks that are important to you, such as flexible work hours or professional development opportunities.

To prepare for negotiation, research industry standards, understand your worth, and identify your priorities. Anticipate potential objections and prepare compelling arguments to support your desired salary. Practice effective communication and active listening skills to navigate the negotiation process confidently. Set clear goals and be ready to compromise while advocating for fair compensation and benefits.

When preparing for negotiating - Do the research!! Find out what like jobs pay in the same and varying sectors. This will help you decide what salary range to request. Thank me later..

Just remember, everything is negotiable. Salary, title PTO, benefits, stock, etc. DO not sell yourself short. And to my female chicas out there, women do not advocate for themselves as much as their male counterparts. Ask for what you want. Demand what you deserve!

To determine a fair salary offer, research industry standards, evaluate the candidate's qualifications, and align the offer with your company's budget and internal salary structures.

During negotiations, clearly and persuasively communicate your value and the benefits you bring to the employer. Support your salary request with research, examples, and metrics, aligning your skills with the job requirements and company goals. Listen actively, show interest, and maintain professionalism. Avoid ultimatums or complaints; instead, aim for a mutually beneficial solution that meets both your needs and the employer's budget.

Employer is there to support you. During the negotiation, effectively communicate your value to the employer. Provide concrete examples of how your skills and experience directly contribute to the company's success or address its pain points. Quantify your achievements whenever possible and emphasize the ROI (Return on Investment) you can deliver in your role.

When looking at the market, to get as close as you can to an “apples to apples” comparison, it is important that you clearly understand the level of responsibility the position holds, the job duties entailed, & availability expectations. This will also help ensure alignment of expectations should you receive an offer you are willing to to accept.

As a resume writer, you should be respectful, professional, and courteous, and avoid making ultimatums, comparisons, or complaints. You should also be flexible, adaptable, and cooperative

Communicating your value begins with your branding and value proposition on your resume. When you move on to your interviews, you will communicate your value through SMART stories, where you identify situations, metrics, actions, results, and tie-ins to the jobs you are interviewing for. When you can align your branding and value proposition to a job as well as do market research to get salary insights that help you identify your worth in the job market, this will solidly place you in a position of strength for your salary negotiations.

Don't sign acceptance blindly without review the offer. Once you receive a salary offer, carefully review all aspects of the compensation package, including base salary, bonuses, benefits, retirement plans, stock options, and any other perks or allowances. Evaluate how these components align with your financial goals, lifestyle preferences, and overall career aspirations.

Your fixed monthly salary remains a key indicator for future earnings. But nowadays many companies offer various types of allowances or benefits. These allowances and benefits will not be counted as part of your fixed income. This may lead to difficulties in negotiating your new salary in the future. So, always consider both : your cash in hand and useful perks/benefits.

Thoroughly review the entire compensation package, including base salary, bonuses, benefits, and perks. Evaluate the overall value proposition and consider how it aligns with your career goals, financial needs, and personal priorities.

Determining a fair salary offer involves considering various factors such as the candidate's qualifications, experience, the job market, industry standards, and the company's budget. One deep insight is to conduct market research to understand the average salaries for similar roles in your industry and location. Additionally, consider the candidate's unique skills and contributions they can bring to the role, as well as any additional benefits or perks that can sweeten the deal without significantly increasing the base salary.

When answering desired salary or expected salary questions on an application, the best approach is to write in “negotiable” or keep the field blank. If a numerical response is required, enter “000” and in a notes section, mention that salary is negotiable based on further understanding of the position.

Do your research and view the salary range for the position you are seeking. Salary should be based on the rates in the area depending on the skillset level required. If you have more experience and have made a good salary, try to shoot a little higher for your next position. Never undersell yourself and go into your new position with confidence and show them you're worth it!

If your goal in more than the money, assess how the company contributes to your career goals and progress. Will you be able to learn and develop your skills? Do they offer learning opportunities, workshops, paid courses...? Sometimes money isn't the goal. It's what you get and benefit from at this point which will later help you negotiate for a higher salary where the most important factor would be money. I worked with a client on a Salary Negotiation session and at the end, he accepted the offer they gave him but asked for more PTO, remote days, and a sign-on bonus. It all goes back to what you're looking for and your current goals/priorities. Never shy away from negotiating. It's your right.

Know Your Worth Beyond Money. ?? While salary is crucial, consider the entire compensation package, including benefits, healthcare, paid time off, and other perks. These can significantly impact your overall well-being and financial security. Look beyond immediate pay and assess the career growth potential offered by the company. Will you gain valuable skills, receive mentorship, or have opportunities for advancement? Example: A candidate might accept a slightly lower salary for a company offering robust training programs and mentorship, leading to faster career progression and higher earning potential in the long run.

In technology I have found that the opportunity to work on new technology is often a big factor in the consideration of fair compensation. New technology may be worth taking a lower salary with the promise of long-term gain. To borrow from Vladimir Lenin’s 1904 publication “One Step Forward, Two Steps Back: The Crisis in Our Party “, a short-term salary concession may pay off big in the long term. This may be particularly true in the new world of Artificial Intelligence (AI) and Machine Learning (ML).

Bonus Tip! Do not EVER resign your current job until you sign the new offer letter!!!! You don't want to be in a position where the offer gets rescinded and you have already resigned your job. Not a good position to be in.