Salary Negotiation: How to Find Your True Market Value

Before you can effectively negotiate your salary, you need to know what you're worth. Understanding your true market value isn't just about browsing a few salary websites—it requires strategic research and honest self-assessment. This foundation gives you the confidence to negotiate from a position of strength and the evidence to support your requests.

Industry Research Sources

Start by gathering data from multiple reliable sources:

• Glassdoor and PayScale: Provide salary ranges based on job title, company, and location

• Bureau of Labor Statistics: Offers comprehensive salary data across industries and regions

• Industry-specific surveys: Many professional associations conduct annual compensation studies

• LinkedIn Salary Insights: Shows ranges based on your profile and network

• Job postings with salary information: Recent listings reveal current market rates

Each source has limitations, so using multiple references creates a more accurate picture. Pay particular attention to data specific to your geographic region, as compensation can vary dramatically by location.

Accounting for Your Qualifications

Raw salary data doesn't tell the complete story. You need to adjust market figures based on your specific qualifications:

• Experience level: How your years in the role/industry compare to the averages

• Education and certifications: Whether you possess credentials that command premium compensation

• Specialized skills: Technical abilities or knowledge that's in high demand

• Performance history: Quantifiable achievements that demonstrate above-average contributions

• Management responsibility: The scope and scale of your leadership experience

Be honest in your self-assessment. The goal isn't to inflate your perceived value but to accurately understand where you stand in the talent marketplace.

Location and Industry Factors

Geographic location and industry dramatically affect compensation:

A software developer in San Francisco might earn 50% more than someone with identical skills in Phoenix. Similarly, the same role in finance typically pays more than in education or nonprofit sectors.

Remember to account for cost-of-living differences when comparing salaries across regions. A seemingly higher salary might actually represent lower purchasing power in an expensive city.

Creating Your Target Range

With research complete, establish three key figures:

1. Minimum acceptable compensation: The lowest offer you would accept

2. Target amount: Your primary goal based on your research and qualifications

3. Aspiration point: An ambitious but justifiable figure representing the upper range

For example, if market research shows a range of $70,000-$90,000 for your position and qualifications, your minimum might be $75,000, your target $85,000, and your aspiration point $92,000.

This range gives you flexibility during negotiations while ensuring you don't undervalue yourself or make unrealistic demands.

Practical Example

Let's consider Sarah, a marketing manager with 5 years of experience and specialized skills in digital analytics:

• Industry research shows marketing managers in her city earn $65,000-$85,000

• She has two certifications that similar professionals typically don't have

• Her previous campaigns generated 35% higher ROI than industry averages

• She's proficient in emerging technologies her competitors are just beginning to adopt

Given these factors, Sarah can justifiably target the upper end of the range or slightly above it. Her negotiation range might be $80,000 (minimum) to $90,000 (aspiration).

Next Steps

In our next post, we'll explore how to time your salary negotiation for maximum leverage. The when of negotiation can be just as important as the what and how.

---

Contact us to see if we can help you land your next role!

Chris Holt, Managing Director

Email: chris@focustalentgroup.com

Phone: (909) 680-0632

---

Connect with us on LinkedIn and Instagram

---