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Join Isaiah as he explores the negotiation tactics that result in a higher starting salary now and more pay for years to come
Here’s a quick rundown of this week’s episode…
- First, Isaiah explains how not negotiating your starting salary can hurt you for years to come
- Next, Isaiah discusses how to best demonstrate the worth of your skills and experience
- Finally, Isaiah describes the tactics that get around the so-called industry salary cap
From This Week’s Show…
How To Overcome The Discomfort Of Salary Negotiations
If you asked any PhD in industry what the most uncomfortable part of their interview process was, I guarantee you most would say the salary negotiation.
It makes sense – money is uncomfortable to talk about, no matter the situation. And it’s especially uncomfortable for PhDs.
It’s alien territory.
You’ve never had to advocate your worth – at least not in terms of monetary compensation.
So, when preparing for your interviews, you need to get prepared.
Walking into an interview with a negotiation plan will not only calm your nerves, it will also result in a better quality of life for years to come.
Why A Failure To Negotiate Your Starting Salary Will Hurt You For Years To Come
According to a Jobvite survey, 84% of people that negotiate their salary enjoy higher starting pay.
They also maintain a higher salary for the entirety of their careers, compared to those that don’t.
Many people feel uncomfortable negotiating because they don’t want to across as pushy.
Don’t let these fears take control.
You’ve worked hard to earn your PhD and you should be fairly compensated for your expertise.
Negotiation Tactics That Get You Paid Your Worth
During your interview – even before negotiations start – ask the employer “What do you want out of this position?” or “What does the perfect candidate look like for this job?”
Most likely, they’ll give you a list of skills, experiences, and personal qualities they’re seeking.
Keep these in mind for later.
Then, when it comes time to negotiate a salary, clearly state how you will deliver on exactly what they want.
This reminds them of your direct value to the organization.
Next, make room for open-ended questions. This is especially useful if an employer mentions a salary cap.
When they do this, they’re conveying that there is no room for negotiation. This is just another negotiation tactic.
Try asking an open-ended question in response like “Is there anything more you can do in terms of salary?” If they again appeal to the higher authority of a salary cap, ask for past exceptions.
If they say, yes, there’s been exceptions, ask which skills the candidate had that made those exceptions possible.
Then say, “Perfect, because I have those same skills, or those kinds of high-level skills.
Finally, when job searching, you should always be actively pursuing multiple opportunities at the same time.
That way, you can leverage your other opportunities during salary negotiations.
This shows them you’re in demand but you’re not playing games because you really want to take the position they’re offering.
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.