Brianna Doe used to harbor a deep-seated fear of salary negotiations. It was a fear so profound that she would shy away from requesting a raise, even when it meant relinquishing thousands of dollars that rightfully belonged to her.
The 30-year-old marketing director recounts a pivotal moment in her career when this fear took a toll. “Early in my career, I had a job offer withdrawn within a mere 24 hours after I dared to seek a higher salary,” she shares with CNBC Make It. “It left me somewhat traumatized and made me question the value I brought to the table.”
For quite some time, Doe remained oblivious to the fact that she could be earning significantly more. It wasn’t until last year, while she was working remotely as a marketing manager at a Web3 startup in Phoenix, that she had her awakening.
During a relatively uneventful afternoon at work, she applied to a few marketing positions on LinkedIn. To her surprise, a recruiter contacted her to discuss one of the opportunities.
“When I disclosed my current salary to her, she was taken aback,” Doe remembers. “She insisted that, given my skillset and experience, I should be earning at least $80,000 to $90,000 more than my current income.”
At that time, Doe’s salary hovered around $75,000, according to financial records scrutinized by CNBC Make It.
This eye-opening conversation served as a catalyst for Doe, prompting her to reevaluate her job search strategy and her approach to salary negotiations. Just six weeks later, Doe secured a position that paid more than double her previous income, amounting to approximately $155,000. Here’s the method she employed to achieve this remarkable feat:
A ‘life-changing’ job search hack
Before venturing into applications for various marketing manager and director-level positions, Doe embarked on a comprehensive salary research mission. She tapped into a valuable, free, and crowd-sourced database available online through #HireBlack, a job search platform dedicated to offering career resources for Black women.
Doe meticulously analyzed these figures in comparison to her own income and further sought input from her colleagues and friends, inquiring about their earnings to gauge how her compensation stacked up against theirs.
Armed with a wealth of research, Doe formulated a target salary range to serve as her North Star throughout her job hunt. She explains, “I immediately ruled out companies that weren’t offering a minimum of $150,000. Instead of entertaining opportunities where I wouldn’t be valued as I deserved, I concentrated my efforts on identifying organizations that would appreciate my worth.”
Doe selectively applied exclusively to positions that provided a clear salary range within the job description, aligning with her predetermined expectations. She also considered roles that featured salary details shared anonymously by employees, often found on platforms like ZipRecruiter and Glassdoor. Furthermore, she focused her job search on remote job boards, such as We Work Remotely, allowing her to maintain her work-from-home arrangement in Phoenix.
Doe regards her decision to exclusively pursue opportunities with transparent salary ranges that matched her aspirations as a “life-saving” strategy, one she wishes she had adopted sooner. She emphasizes, “Simply cutting off prospects that didn’t align with my salary expectations was incredibly empowering. It bolstered my confidence in what I could bring to the table, even during interviews and conversations with hiring managers.”
In February 2022, Doe received an enticing offer to become a senior marketing manager for a company specializing in computerized manufacturing, with the remarkable twist that left her astounded. The recruiter presented her with a proposed salary of $155,000, a figure exceeding her initial request by $5,000 and towering $80,000 over her existing income. Driven by this exceptional opportunity, she bid farewell to her former job and commenced her new role in March 2022.
Subsequently, earlier this year, Doe was recruited to assume the position of marketing director at a fintech startup, which she performed remotely. Drawing upon the same market research and negotiation strategies she had honed during her initial job search, she secured a pay increase of $15,000 before ultimately accepting the role, a journey that commenced in March.
In a span of just two years, Doe’s income catapulted from $75,000 to nearly $200,000. (She opts not to disclose her exact salary to safeguard against potential future negotiations.)
‘A successful salary negotiation starts with confidence’
Before delving into negotiations for her current role, Doe wisely sought counsel from an experienced marketing professional she had connected with on ADP List, a valuable networking platform facilitating mentorship across various industries.
The advice she received from this mentor resonates as a universal truth that Doe believes everyone should embrace: “If you’re engaged in job interviews or have received an offer, remember, it’s not by chance. You possess skills that render you invaluable to your prospective employer — and you’re not embarking on this journey for free,” Doe recalls.
She emphasizes the pivotal notion that what you bring to the company carries the potential to yield positive impacts and alter the course of their business, underscoring the importance of advocating for oneself accordingly.
Above all, she highlights that “a successful salary negotiation commences with confidence.” Doe asserts that even when she possessed a decade of marketing experience, there were instances when she discussed her achievements and projected herself as a newcomer. Yet, she underscores the significance of being resolute about your needs and comprehending your value within your profession, as this knowledge substantially streamlines the process of attaining what you rightly deserve.
Source: cnbc.com