Top 6 Articles For PhDs To Learn How To Confidently Negotiate Starting Salary
I was so close to the end of my job search.
The company loved me at the interview and I felt confident.
But then, the toughest part of job searching dawned on me — salary negotiations.
This was my second job in industry, and I knew I had to negotiate.
Here’s how it happened…
I was in a room with both the hiring manager and my future manager.
The future manager verbally offered me the job, quoted a salary number to me, and then left the room — I was now alone with the hiring manager.
Once we were alone, the hiring manager said, “What do you think?”
This was it — negotiation time.
I smiled and said, “That’s a great offer, but what more can you do?”
The hiring manager smirked and said, “We’re already offering you the best in the industry, and it’s 10% higher than your salary at the previous organization.”
I smirked back and said, “While it might be more than the salary at my previous organization, the experience I bring is valuable, and I know this from the market research I’ve done.”
The HR became a bit non-receptive and said, “Why don’t you take some time to think about it and get back to us by next week?”
I took this as my cue to tell the employer what I wanted in terms of salary.
To demonstrate that I was the best candidate and worthy of a salary increase, I came up with a 90-day plan for what I would do once hired into the position.
I wrote a very polite (but firm) email to the hiring manager and my future manger — the email contained my 90-day plan and the salary I wanted.
I received a response the very next day saying that they would like to meet with me again.
At the meeting, the hiring manager said, “This is the first time we have encountered such a well-prepared — and hence, compelling — candidate.”
My future manager nodded and said, “Welcome aboard, Abha. We can’t wait to start working with you.”
I looked at the paperwork and not only did I get the salary I wanted, but they added the clause, “confirmed upon hiring” — meaning, there was no probation period!
I thanked them and walked out on cloud nine!
My salary negotiation preparations paid off, massively.
I had gotten the job I wanted at a salary where I felt valued.
Why Not Negotiating Is The Worst Mistake You Can Make In Your Job Search
Many, many PhDs are scared to negotiate.
Or, they just don’t know how to negotiate, so they don’t do it.
CNBC reported that only 29% of job seekers negotiated the salary for their current position.
This is a terrible mistake.
All of these people who are not negotiating are losing out on substantial salary increases they could be gaining.
For example, on average when someone did negotiate their salary, they gained a 13.3% increase in salary, according to Glassdoor.
That means that if you get an initial offer of $75,000 and you gain a 13.3% increase, you will earn an extra $10,000 per year!
Negotiations are the fastest way to make money.
But, if you don’t do it, it is the fastest way you will lose money.
Don’t make that mistake.
Remember your value and take the time to prepare for your salary negotiations so that you feel confident to ask for the salary you deserve.
Cheeky Scientist Top 6 Negotiation Articles
In industry, you are expected to negotiate.
So, you need to do this.
And, there are specific strategies that you can apply in salary negotiations.
These tips, strategies, and tactics will help you earn the salary that you deserve.
Here are the top 6 Cheeky Scientist articles to help you prepare for and feel confident in your salary negotiations…
On average, not negotiating will result in you missing out on a 13.3% increase in your starting salary (Glassdoor).
That’s a lot of dollars.
But, the cost of not negotiating is actually a lot higher, in the long-term.
NPR reported that when graduate students don’t negotiate their initial salary, they miss out on $1 million to $1.5 million dollars over the course of their career!
Asking a simple question could earn you more than a million dollars!
So, why don’t people do it?
Because negotiating, especially for the first time, is stressful and can be scary.
But, you have to do it, if you want to earn the salary you deserve.
And remember, negotiating is just a skill you need to learn and then practice.
So, here are the top 3 strategy preparations you need to make in order to negotiate, even if you are scared…
89% of people who tried to negotiate their starting salary were successful (Inc.).
And yet, most people don’t negotiate.
They don’t negotiate because they are scared, or they don’t know how.
Sure, negotiating is tough for PhDs.
It’s a new skill.
In academia, you are expected to just take the low stipend that you are offered.
But in industry, it is different.
You should be your own advocate and negotiate your salary.
So, how can you make sure you negotiate the right way?
Here are 3 common mistakes PhDs make when negotiating…
A report in the Harvard Business Review found that only 57% of highly educated men negotiate their salary, and only 7% of highly educated women negotiate their salary.
That’s right — only 7%!
Why are so many people afraid to negotiate?
Don’t let fear hold you back.
You need to understand how negotiation works and why it’s important.
Because, refusing to negotiate can severely limit your career success.
Being willing to negotiate, on the other hand, can push your career forward.
Here are 12 tips on how to negotiate a job offer to increase your starting salary…
According to a study by George Mason University, a mere $5,000 increase in starting salary will earn an employee $634,198 more over the course of their career.
Negotiations are the most important, and the toughest, part of your job search.
And, although salary negotiations are most effective when completed in person or on the phone, many negotiations happen via email.
Especially in the beginning stages of your negotiations, email will likely be used.
So, sending the right type of email will help you secure a higher starting salary and earn more money over the course of your career.
Negotiation emails should be polite, but direct.
Here are 5 email templates addressing various stages in the negotiation process to help you reach your salary negotiation goal…
Negotiation can seem scary, especially when you are desperate to transition out of academia.
But, the biggest mistake you can make is simply settling and accepting the first, or any, offer you receive without negotiating.
Learn the pattern of negotiation with recruiters and do some research.
Know your value and be prepared.
Be patient, confident, and enthusiastic.
And, when the times comes, and you have multiple job offers, you can use that situation to get the best salary possible.
Most salary negotiations follow a typical pattern that you can learn and perfect.
Here are 3 steps to negotiating multiple job offers with a professional recruiter…
Whether or not you understand how negotiating works, it is being used against you.
From the moment you begin to interact with a potential employer, negotiations have begun.
The problem is that most people, especially PhDs, don’t know how to negotiate salary.
They just let themselves be a victim of someone else’s negotiation techniques.
Don’t be that person.
Take control of the negotiation and advocate for what you deserve.
Savvy PhDs take the time to learn about negotiating and are happier (and richer) for it.
Here are 10 tips to help you negotiate higher salary contracts…
Everyone tells you that it’s important.
But, it’s scary.
Many PhDs feel intimidated by negotiations.
But, you don’t need to feel this way.
You are a PhD.
Learn the best ways to negotiate and earn the salary that you deserve.
These 6 articles will help you learn the best ways to negotiate your starting salary.
If you’re ready to start your transition into industry, you can apply to book a free Transition Call with our founder Isaiah Hankel, PhD or one of our Transition Specialists. Apply to book a Transition Call here.