How to Set Salary Expectations Before a Review

Understanding salary doesn't have to be the mystical voodoo that it is sometimes made out to be. Employers use data analysis reports to establish salary ranges (nope, they really don't just make it up). You can use the same data analysis reports to understand your reasonable compensation expectations and negotiations (it's like showing up the car dealership with the KBB print out in hand). One of my favorites is the Society for Human Resource Management (SHRM....the professional organization of Human Resources) Compensation Data Center at https://lnkd.in/gPGbSx63 This gives you the DATA on more than 15,000 roles across 225 industries with geographic specific variation that breaks down wages, benefits, bonuses, and total cash comp. This site gives YOU the power to pull the same compensation analysis reports that employers use to set wage scales, and while it is a fee for service, you might just find that getting your salary negotiation right with actual industry salary DATA is worth the investment. This is NOT crowd sourced or self reported salary data, it is compiled from reputable industry data, and the sample below is a sample report extract publicly available on the website (to ensure I'm not sharing copywrite information). (NOTE: I am not employed by SHRM, nor do I receive any money or benefit of any kind for recommending this site, it's just me sharing useful information that HR pros use to simplify the salary question for you)

TLDR: If you identify as a woman, you should assume you are underpaid unless you have specific data showing you’re not. In a perfect world, your employer would fix that on their own. We do not live in a perfect world; it is time to ask for a raise. — In a capitalist system, wage should be correlated with value. Your pay conversation should be on in the value you provide, which is an equation: market x level = value (and therefore wage). So never bid against yourself. When asked about salary expectations, simply say “I expect to be paid fairly so I can focus on my work and I know you want the same. When we get to the stage where we both want to move forward, we should look at the data together and determine what is fair and equitable given both the current market and my unique experience.” That should be met with respect by your prospective employer and if it isn’t, you probably don’t want to work for them. When you come to the conversation, you want to make sure you have your own data. You can look at the Bureau of Labor Statistics (link in comments) and other open roles that list a range (legally required in many states). If your role doesn’t have a posted salary, remind them that it should and ask them to let you know what it is before starting the conversation. Then you want to make an argument for why you are uniquely positioned above the median. What unique skills and experiences do you have that will bring more value to the business than the average candidate for this role? Is there something that will help you hit the ground running? Something that will raise your overall ability to have impact? The more objective those reasons, the better, but this is also a moment for persuasion - practice your storytelling on a friend (or on me; link in comments will let you schedule a free call and I’m happy to coach you a bit). Women remain underpaid in almost every country in the world and that is intersectional with ethnicity, credential, and many other factors. Every time you negotiate, you make it easier for others to do the same and together, we move the needle. At the same time, there is data that shows that women in the US now ask for raises more often than men and yet are still less likely to get them. So managers: if someone asks you for a raise and proves their value, you owe them money. It is not a favor you owe them, it is literally how compensation works. Helping them find the right market and uniqueness data, and then pushing it through the appropriate channels, is your job. Do your job.

“What are your salary expectations?” The wrong answer can literally cost you thousands. Here’s the 5-step script I teach my students that has helped them land $100K+ offers: 1. Research your market value Before the interview, know your numbers. Use tools like: • Payscale • Glassdoor • Levels.fyi (especially for tech roles) Look up salary data based on your role, location, industry, and years of experience. This helps you speak from facts, not guesswork. __ 2. Give a salary range (not a single number) Avoid boxing yourself in with a specific number. Instead, say something like: “Based on what I found, the typical range for this role is $X–$Y.” Your ideal minimum should be the low end of the range, so you leave room to negotiate up. __ 3. Follow up with your value Immediately after sharing your range, explain why you’re worth it: “Given I have [X years] of experience in [industry or skill], plus [certifications or unique skills], I believe I’m at the higher end of that range.” This turns the question into a chance to pitch yourself. __ 4. Flip the question (in a polite, confident way) You don’t have to go first. One of my favorite salary tips comes from my friend, Jim Hopkinson: “This role seems to vary based on experience. May I ask, “what budget have you set aside for the position?” This lets you gauge their range first, especially useful if you’re unsure. You can even start with this, then decide whether to share your range based on their response. __ 5. Don’t ask your numbers, state them. You can say all the right words, but if you sound nervous, it’ll fall flat. Prepare to state your number, not ask it. Say, “The range I’m look for is ___.” Don’t ask, “The range I’m looking for is___?” Rehearse this out loud. Practice with a friend. Record yourself. Confidence isn’t just what you say, it's how you say it.

Here’s the framework I used to help my client negotiate a 17% salary increase BEFORE they received an offer ↓ I call this the RAVE approach. Here’s how it works: R - Research 1. Conduct thorough research BEFORE the process starts - set goals - determine your priorities - determine your ‘walk-away’ number 2. Use sites like Fishbowl, Blind, Glassdoor to understand recent compensation packages. 3. Check sites like Payscale, and Levels[.]fyi to check general salary ranges. 4. Look at similar job descriptions in states like WA, and NY to see base salary ranges. Know your numbers before you say numbers. If you don’t know them, don’t provide them. Simply ask for more time and respond later. A - Articulate 1. Present your case clearly and persuasively. 2. Use logic, data, and evidence to support your position. 3. Address potential counter arguments proactively. ***Defer the negotiation to after the interview if possible. If you’re forced to provide an expectation, keep your answer minimally sufficient. V - Value *Your best negotiation tool is your interview. 1. Deliver clear examples of how you have created value for past customers and employers. 2. Connect your skills and experiences to return on investment (ROI) opportunities. 3. Leverage targeted pitch decks to explain how you would deliver results for the business. E - Explore 1. Consider all aspects of the offer once in hand. 2. Understand what components of the offer are negotiable, and prioritize them according to where you want to focus. 3. Common components often include: - Base salary - Sign on bonus - Equity, or restricted stock units - PTO - Work from home, or flexible location days 4. Establish common ground on areas of agreement when you counter. And remember; be reasonable and transparent. Hiring teams want you to be happy with your offer. Let them know if you’re not. - - - What would you add to this framework? Let me know in the comments.