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Rising Star
1. Don’t provide your current salary
2. Do research to find the typical comp for your role
3. Pick a number that is toward the upper end of the typical comp
4. Justify it by saying that’s where the market values your skills and experience
5. They give you a decent offer
Typically I would have gotten a feeler for what their range would have been before they made their offer so I would know where the actual offer stood (and to see if it would have been worth my time), but now that you’re here, congrats!!!
How close is the offer to what you were originally expecting and how close is that to what the market rate is based on your research? This is important because this sets the baseline on how much you should negotiate.
Unless they told you no room for negotiation, then $5k is a drop in the bucket – you’re in a great spot.
Is insurance/401k match/vacation good?
At this point (assuming all the above is reasonable), you’re negotiating for total comp for salary plus bonus. Since bonus is low, tell them that and see if there’s room for negotiation on bonus. I always ask for at least 10% more on the first salary number, and in your case ask for more if there is no wiggle room on bonus structure.
Be prepared to answer any questions around how much you were getting before. Usually don’t mention priors unless you were getting way more before (e.g. your old bonus was 20% vs 10% offer now). Even so, always frame is as total comp.
Do some research on how to answer the questions and always sound prepared and confident. And it’s important to be upfront with all your asks. You don’t want to ask the recruiter to meet your requests and for you to come back and ask for more.
There are multiple things to negotiate, if you want a higher base find justification around COL changes, other offers being higher but you like the company more, your current comp being higher, whatever.
If you’d like to negotiate more equity then say you’re really confident in company’s future and would like more stake in company success.
In terms of percentages/amounts I’d just give a counter and ask recruiter to see if they can meet somewhere in the middle.
How did you get an offer without compensation negotiation ?
^^ I hope you know this that FAANG also does the salary negotiation at the very first. Atleast Amazon does. Google does based on interview reviews but they vaguely talk numbers initially.
Chief
Agree with everyone above. Don’t share your current comp or desired comp. If you must, give them a range and the lower bar should be your desired comp.
OP got an offer already. At this point they need to tell them their desired number. What OP is asking for advice is on is what that number should be and how to negotiate.
Follow up question - recruiter said she would have to get the new amount approved, any thoughts on how long that might take?
Rising Star
Nah, it could be a few days, but depends on the firm