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Salary negotiation can be tricky, and one of the toughest parts is deciding what amount to ask for. A helpful guideline is to request 10 to 20 percent more than your current pay.
If a potential employer requests a salary range, and you’re unsure of how to respond, or if they offer a figure that feels too low, but you don’t know how to negotiate it up, experts suggest that asking for 10 to 20 percent above your current salary is typically a safe bet. As Business Insider highlights:
For instance, if you’re currently earning $50,000 a year, you could ask for anywhere from $55,000 to $60,000 without coming across as unreasonable. Taylor explains, “If the initial offer is on the lower end, you have more room to negotiate.” So, if you receive an offer that's 20% above your salary, consider asking for an additional 5%, knowing that you’re already in a good position.
Remember, this is just a general guideline, and these rules can change depending on the situation. The company you're interviewing with might have a smaller budget than your current employer—or perhaps a much larger one. It's also possible that there is no flexibility in the offer. The best approach is to research the company and the standard compensation for your skills and experience. However, even average salaries can be misleading as factors beyond just skills and experience may influence your pay scale.
If you’re unsure about what salary to ask for, this general rule can serve as a helpful starting point. If your employer provides the first figure, here’s another guideline: Clarke University states that many companies are able to offer 15 to 20 percent more than their initial offer. While it’s a broad suggestion, it’s a good way to gauge the range. For more insights, check out the article on Business Insider at the link below.
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