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I'm on the flip side of this normally. I work at a large silicon valley tech company and do a fair amount of hiring. If you feel you're making well below mark
by nazca 11y ago
I'm on the flip side of this normally. I work at a large silicon valley tech company and do a fair amount of hiring.
If you feel you're making well below market value for the industry & geo that you're interviewing in, I wouldn't set an 'anchor'. You have nothing to gain. Just wait for them to make you an offer. This is especially true if you're interviewing at a smaller company where they have less rigorous compensation guidelines for a given position, and they might be more tempted to low-ball you. A good manager at a large company shouldn't change their comp decision if you're making surprising little now... but you never know.
If you're currently in-line with the market, you can tell them or not. Either way you're in a good position to negotiate if the offer comes in a bit soft. Most candidates I see in this situation are upfront about their current comp and it makes the whole process more efficient.
If you're making more than market or more than they're expecting, be up front. Especially at a large company. Once they get approval to issue an offer it might be impossible or extremely difficult to increase the comp outside the band for that level. If they know in advance that you're making more than expected they can consider an offer at the next higher level.
Also, don't just make up a number that puts you above market. First, if it is clearly too high it will make them question your honesty. Second, it might preclude you from an offer altogether if they don't feel you're ready for the next grade level.
As a side note, when candidates defer on the comp question, I assume they're making less than market. Almost as a rule 9 out of 10 candidates who defer are coming from other geo's or other industries that don't pay as well. As a policy, I try to keep my team's comp equitable & calibrated (much more tightly than just blindly following our company bands & guidelines) so I don't give them a lower offer. But other managers might not do the same.
- CyberFonic 11y agoGood to hear from the other side of the table. Perhaps you are an exception to the general rule. In my experience, most managers will opt for "saving the company money". I've seen many ruses by which they justify their low-ball offers. A desperate candidate usually gets less than what they are worth.
- gesman 11y agoThe problem with desperate candidates agreeing with the smile to the law ball offer is that they'll keep looking for a better offer until found. They'll make sure you see code editor while you're looking and be staring at linkedin profile editing screen while you're not.
- sheepmullet 11y agoI always say make me an offer around what you pay your current devs. If you pay me significantly more than your other devs it will create bad blood (trust me salaries always get out). If you pay me significantly less it will also create bad blood. The truth is I don't know your environment or the exact role. Perhaps you pay 20% over market because it's a high pressure role or because there is a lot of travel, or because a 50 hour week is expected, or any of 100 reasons. Perhaps you pay 20% under market because the role is low stress and flexible, or the work is easy, or any of 100 reasons. If you try and offer me way more than I'm on that's a sign too and it's worth drilling deeper. Is the role what I think it is? Etc etc. I'd rather find all this out before I start the job.
- xivzgrev 11y agoThis is really informative, thank you. I fit squarely into the 9 / 10 rule - I'm locating to another geo. The geo I'm presently in pays more on avg than the geo I'm moving to. So looking at Glassdoor & Angel List to figure out how big that difference is.
- janbernhart 11y agoI also do a lot of hiring and offers and completely agree with this. + If you are in a different GEO, always say you don't know exactly how the cost of living compares with your current location. Don't let the conversation just be about the salary because for you that's just 1 part of the picture.