5 ms·
I devoted a chapter of my book to this topic, so I'll summarize my method here and then share a link to read that chapter for free. I recommend a three-step pr
by JoshDoody 10y ago
I devoted a chapter of my book to this topic, so I'll summarize my method here and then share a link to read that chapter for free.
I recommend a three-step process:
1. Estimate your market value in your industry
2. Adjust that estimate for your local region
3. Adjust it again for the specific company you're focused on
Each subsequent step will have less data available, but the data you do find will be more specific to your situation.
1. Your industry-wide market value
Starting at the industry level, there are four places I tend to point people: paysa.com, salary.com, payscale.com, glassdoor.com. Those tend to cover most industries pretty well. You can take an average of averages to get a decent baseline for your industry.
2. Your market value in your region
Once you have that industry-wide number, you should adjust it for your local region if you can. This helps to account for cost of living and local demand differences. You can reach out to peers at other companies or talk to people at local conferences to get this sort of info. (NOTE: Asking people what they make is taboo in the US, but you can ask in a roundabout way that works pretty well: "If someone with this skillset and experience were hired for this job at your company tomorrow, what do you think they would make?" People are more comfortable answering vague versions of the question.)
3. Your market value for a specific company
Finally, if you know someone doing the job you're interested in at the company you're interested in, you might be able to get more detailed information about that specific company's pay ranges. You might also know a hiring manager or recruiter at the company, and you could buy them coffee to learn whatever you can.
Once you've gone through those three phases, you should have a pretty good idea what your market value is.
Read more
You can read the chapter from my book Fearless Salary Negotiation here: https://fearlesssalarynegotiation.com/book/value https://fearlesssalarynegotiation.com/book/value
You can get a free guide, worksheet and short video course to walk you through the process here: https://fearlesssalarynegotiation.com/how-to-estimate-your-market-value/ https://fearlesssalarynegotiation.com/how-to-estimate-your-m...
- JoachimSchipper 10y agoFWIW, this comment was [dead] when I happened upon it; I apparently resurrected it when I vouched for it. I do like your work, but you may want to dial down the self-promotion a little?
- JoshDoody 10y agoThanks for letting me know - I appreciate it. And thanks for vouching for my comment - it would be a shame if OP didn't see it. Cheers!