Companies have profited for years off of job candidates &amp; employees being scared to talk about pay and negotiate. Even though those same employers expect people to negotiate salary in a job offer, they often quote the lower end of the salary range in their budget knowing most candidates won’t try and ask for more.

Pay gaps can often be linked to the way different demographics approach negotiating salary. For instance, 42% of women say they don’t feel comfortable asking for higher pay vs. only 33% of men, according to a recent survey done by <a href="https://www.pewresearch.org/short-reads/2023/04/05/when-negotiating-starting-salaries-most-us-women-and-men-dont-ask-for-higher-pay/">Pew Research Center</a>.&nbsp;It’s important to note that even though certain demographics tend to negotiate more than others, the responsibility of closing the pay gap and paying workers fairly is not on the worker. That falls on companies – something that the <a href="https://www.salarytransparentstreet.com/resource-hub/the-importance-of-salary-transparency">salary transparency movement</a> is nudging them to do.Regardless of who has more power in addressing these disparities, learning to negotiate salary is an invaluable skill to have.

&nbsp;Key points:<ul><li>Researching your market rate and building a “brag sheet” can help build confidence when walking into negotiations.</li><li>There are pay transparency laws in each state that may affect your salary discussions.</li><li>You don’t have to accept a job offer right away. Ask for some time to review the offer so you can appropriately respond.</li></ul>

<h2>Salary Negotiation Preparation</h2>The worst way to walk into a salary negotiation is unprepared. You’ll need to show evidence and data to back up your ask and show your value, as well as be able to communicate effectively why you should be compensated as such.Being prepared for salary negotiations not only increases your chances of having your requests fulfilled, but it also boosts confidence so you can continue to advocate for yourself throughout your career.&nbsp;Here are a few steps you can take to prepare.<ol><li>Review Job Descriptions</li></ol>It’s best to start with reviewing different job descriptions of the positions you’re applying for, in addition to your current job. Understand the roles, responsibilities, and required qualifications to gauge the level of expertise and experience expected by employers.

2. Research Your Market RateDetermining your market rate involves researching how much you should be making according to your job title, unique skills, years of experience, location, education, and other relevant professional factors.&nbsp;Other elements to take into consideration are:<ul><li>What is the level of the position you’re applying for?</li><li>Are there any preferables that are listed in the job description that make you a more unique candidate?</li><li>Are there any on-call duties listed? Remember: you don’t work extra hours for free.</li><li>Is the role a hybrid role of several different duties that isn’t normally included in that type of position and because of it, the role is more demanding?</li></ul>Tools to UseUsing tools like our <a href="https://link.mail.beehiiv.com/ls/click?upn=zv0OIymeN4PLIGdIdZnih3jFGmiW-2FGSoxGGMGlser-2BwOguwBMTEgQJsY4qhH3rAAPOe2EDDI00UIy4ZEFawHABGe497xisoasZBHn5AtyhCIEK4-2Bddj3wOvg-2F16F7gbxhODfEdzWqqbwNdN7v7k8k1bj40e4E0fPXKKrIyryk3K8EoiBmFtN-2Fdy-2FV-2FrKejf3j45vCaxaI7ve0nvhRHVB11JGdFIa49aT7MScN5eU1dBeuEU5ox2tDx-2BpybJHW9oQDGXBZxpcY9zxgN2ZNBQ8iNvMW3h4MizQT-2BjBgPiefF9dD9LKrkH2tInX-2BTIx0SUSUNtAsRV5e0BHUDDAnFg-2FwDL4ymaFAiZLuh1bebye6X9gv53JUjfiK-2FG5KsvzvDU2h-2BxByzFaL1Gv9L6uVmo-2BNvRxG2-2FXSeY-2FS07LIEyTNj2J-2B96yaE2IxrTZvlSb10lC4Su80C2fFc3JE7ilaPSxK62Hvtn1Xh9hfwET7GPlB46aZW8DFkNP7ntMbSkc5a-2Bb8M3KRQGej9Kgj9UY-2BjjNYO9JE8MPshT20BYXhNqoecn3hdktrdgV8s7NvkdEb8t6Dgh72ii306aloofOY2nUJEfUxJ4-2FUThWsp-2FacWm74eD02GB75o8F24AAoj7lxMnx12HcnIaKO9kmZosvtvzeNY6OxPd4EGvU1J071feIQNo5XGb7bU2DtErElkOwMHjs-2Bfa2YRNTwrtohpUbnj9rAf-2BkpMKeEmtnRThVHZIwbLyaMz3okzZpfMvEZVB1ltuNGItqpV4ds-2FrAzRjmSGMjEJ9AROXnFmqr4E-2BS6Glo8vWCDt4ptqh87AIGbVkMne8rKmLBqlIvgJAqYlhPMBIP9VxOni2hNZo70xEcMRgUnYrz-2FHuv0S1rJ42-2B-2F3GhDQ-2Bx-2FSmXH-2FuYQSNO3bqEEcksTmAxJHBiQhmWhJc8YoWXkPs-3DHngR_e-2FZz2TLfiAVe-2FKyTwnKoPmSWDbgl6CfX1faZKhVNwddssNFki5EKYzS82J-2BO2Pyn-2BiPHMJYI2i8dWArze612NznX8V-2BEeqN2Jg6R5igUjFYgNx7sBYR0qc-2BHCeQFI1Z9pkY6BklfFnppiI1SZQhvllxP5JCKmMb6WcfLgwAbC1QSKrppXtVJUMQOqzs76zWOOHoyVe6aRAxRxg50czKwGJk-2BbLZq5fTpaoe0GKHrPwIUE1OLaR9jx9rLJwWUowy2x1k4NbgBrkhjQNoNF0WFN0s06-2F97H6RvYEv4FUth6Im09y2Ui8LtjQCuUnaaV2L3RFrltJ-2BmAu87sZTlENdrCqg7-2FrqlTvdk0bkcntcM8FbHVJjNI-2BSSZEKd-2F-2BNo-2BdcTaFftwpuquOW8ffBayNp6kmh-2Bn5uHH0Fax4pmvNyi4DXn3kGQpHtNdSYxiP03-2Fs8-2F">Market Research Guide</a>, as well as <a href="https://indeedhi.re/42dWSF9">Indeed</a>, <a href="https://payscale.pxf.io/c/3976832/1542560/16772https://payscale.pxf.io/c/3976832/1542560/16772">Payscale</a>, and <a href="https://www.salary.com/">Salary.com</a> can give you a rough starting point of what your lowest and highest salary would be, a.k.a. your market salary range. Then calculate the average and median of your data to get your expected salary rate.&nbsp;From there, you can then gain additional insights from your network. This is where the best research is going to come from – <a href="https://www.salarytransparentstreet.com/resource-hub/discussing-salary-with-coworkers">talking about salary with coworkers</a> and other people you know. People like your friends, family, people in your network on Linkedin, past colleagues or bosses, or anyone you think will be comfortable with having that conversation. You’ll have to share with them why you’re asking and be prepared to share your salary as well.Other tools to gather salary data:<ul><li>Use our anonymous<a href="https://www.salarytransparentstreet.com/salary-database"> Salary Database</a> of 5,000+ individual recorded salaries.</li><li>Watch our <a href="https://link.mail.beehiiv.com/ls/click?upn=zv0OIymeN4PLIGdIdZnih3jFGmiW-2FGSoxGGMGlser-2BwOguwBMTEgQJsY4qhH3rAAy6A2RB2WanBYqhZ-2BWR6zhMWkx1-2FPeh6hHCywtXO5-2FZhIcWne8HcGCzQfLygNx-2FHUtSlRCOIYEkGLDvvO5gWQoHBofvrkJbCdHpMDJNpVI-2FjYuwtwKn52IksF-2F7j2oYgSint9TAjbwFs3ESjdvEaxaXs2qDLM9dqGcJehaB2yFSJ8DqKWn5iHEaXJz9rZTyC5S7DSs859-2FRfcGWWNPMvdP8fGEOHB-2FCDk4e4uAiA9E6CSKjGc7Il7F3INOOJnGpCPu8Ytl97tHafFAFOzX8D708Rb9B373C-2BmVqVxRhtuiHouU-2BZuZMKfzC1uRjk588pG-2FRqyXLj0iTUMKj2CnLtlqtOLX2tpov1fLeyqZX5olDjOdYw8kNdvVkgoP0HMri0Ia355U-2BvD79tlC6NnY7Nl8YwTvepG8E3BtLGxJc77L3n4kFECnQxmoCfz4mOhWXLqKTbQhuUSuUxvBExitRqkzNPANQ4TlZEzLL8xV6iHN-2FRbLQR2YRYrsZqur-2BGtZSkJ5IA02XHg-2Fnpzlt7OYfCG-2Fd5Ft8YO0kg4KwKFSFx5BtXi1OEznsIpV0psyUI4JWU2i5Y6tAeR4-2FvGX2uKT2uNR0-2FausMTUE2dJPRFasQDFpzfSnO7WByDuLf-2FaEeubgklSqccPY-2BOslaKaqnCzempR5D14iqL3ktMbDelxgYqRN-2FMlf49JJff7oiNkUI8yM2FIrSwu7i7g4qT9zD-2FLjwaiO5iZSCJH0NKT8zYiU1eBWZHk07Ux7n-2FxhcxO6OQtYuYHBu2hJdWYHWOnwrnLeW-2FWRtxmQ-2Bc9CMGwjbdctBMz1Fdb4ub9hSVGgk-2FN-2FY6Upc2w4F0EVWb-2BRm1m0UAj85rtcwZxv-2FU8VndAafW2ATbBeo-3Dmrdb_e-2FZz2TLfiAVe-2FKyTwnKoPmSWDbgl6CfX1faZKhVNwddssNFki5EKYzS82J-2BO2Pyn-2BiPHMJYI2i8dWArze612NznX8V-2BEeqN2Jg6R5igUjFYgNx7sBYR0qc-2BHCeQFI1Z9pkY6BklfFnppiI1SZQhvllxP5JCKmMb6WcfLgwAbC1QSKrppXtVJUMQOqzs76zWOOHoyVe6aRAxRxg50czKwGJk-2BbLZq5fTpaoe0GKHrPwIUE1OLaR9jx9rLJwWUowy2x1k4NbgBrkhjQNoNF0WFN0s06-2F97H6RvYEv4FUth6IkFjJ4H48iiSEZ4XTnxSHQJq0lWTpMMW00aOvxnS93I6WuMJoonHKf4G5QjA4SXHfKSk-2BKYlUsRAuQrfHiPbrBF2xmoUL3Ejl0gpop0rwUwpaDcRk-2Fj4mCf-2B5DQAB6Ip40CXahht4nOcg8zEJvG8NGx">YouTube</a> for interviews with real people about what they do and how much they make.</li></ul>

3. Know Your BoundariesOnce you get to know your expected salary a little better, you’ll be able to set better boundaries around your salary, benefits, and what is expected from you in your new role. Think about your absolute “musts” for you to be able to accept a job offer.Determine your absolute lowest salary you’re willing to accept and quote a salary range above that in the case that they negotiate it down. Then think about other things you need in order to thrive in your new role like remote work, health benefits, a 401(k), or anything else that you need included in your total compensation for you to accept that offer.

4. Practice, Practice, PracticeOnce you’ve gathered all the necessary data and you’re preparing to talk about salary with the recruiter or hiring manager, it’s time to practice. Talking about money and pay is awkward for everyone. Practicing those conversations and what you’re going to say will help make these conversations a little easier.Building a “brag sheet” of all your accomplishments can also help give you more confidence in these discussions. This is basically a spreadsheet or document where you brain dump everything you’ve ever done or accomplished in your career. Then pick a few that you can apply directly to the role to show your unique value and why you should be paid appropriately.&nbsp;

<h2>How to Negotiate Salary: The Nitty Gritty</h2>The salary negotiation process can start at any stage, whether that’s with the salary range posted in the job description, in the introductory interview, or upon receiving a job offer.When is it appropriate to bring up salary expectations?If the job posting doesn’t list a salary range, bring up salary expectations as soon as you can.&nbsp;An appropriate time to do this could be towards the end of an introductory interview when the recruiter or hiring manager asks you if you have any questions. You can simply respond with “What is the salary range for this position?” This is so your time isn’t wasted on several stages of interviews only to find out that the salary is half of what your market salary is.

Compensation Isn’t Only SalaryThe total compensation package is more than just your salary. Total compensation includes your salary, bonus, and anything that falls under employee benefits like health insurance, retirement plan matching, and education stipends.When talking about salary expectations with the recruiter or hiring manager, you can also ask what benefits they offer. Usually companies list their benefits on the careers section of their website or in the actual job postings themselves, but some don’t. When you ask about benefits, you can even ask for their benefit packet and they’ll most likely be fine with sending that to you. This way, you'll also be prepared to <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-benefits">negotiate your benefits</a> along with your salary.Know Your Pay Transparency RightsLook up your location on the <a href="https://my.visme.co/view/8roxdkrq-pay-transparency-law-map">Salary Transparent Street Interactive Map</a> to see if your state, city, or county has any <a href="https://www.salarytransparentstreet.com/resource-hub/pay-transparency-laws">pay transparency laws</a> that protect you in negotiations. For instance, if you’re in the state of Washington and a hiring manager asks you in an interview what you made at your last job, you don’t have to answer that question. That question is actually illegal in Washington, as well as 20 other states.However, if they ask you to provide your expected salary, you can provide them a range.

Did you negotiate your salary? New York City, NY📍#salarytransparentstreet

<h2>Negotiating Salary In The Job Offer Stage</h2>Alright, you’re on the home stretch to the finish line of your job search and receive a job offer. Congratulations! But you don’t have to accept an offer on the spot. Whether they present the job offer to you over the phone or over email, ask if you can have 24 - 48 hours to review the offer. If you can do this in an email, that’s most ideal.Once you’re ready to accept or want to negotiate for more in the job offer, use this format in your response:<ol><li>Thank them for the offer</li><li>Let them know how excited you are to accept the position</li><li>Share that the only concerns you have is with the proposed salary</li></ol>Then you can say something along the lines of: "Based on the market rate for the role, my expected salary based on my location, skills, education, and years of experience is $X." Emphasize your value, skills, &amp; expertise that best match the company’s goals, and use your research and brag sheet to back it up.

<h2>Final Thoughts</h2>Negotiating and advocating for yourself as much as you can will help you get paid what you deserve, but it won’t protect you from employers saying no or passing on you as a candidate. When an employer can’t budge on salary, consider negotiating for other things like remote work, more paid time off, or other benefits that are important to you.&nbsp;Employers can also pass on candidates because they’re going for the cheapest talent possible. In that case, you probably don’t want that job anyway.Stand firm, hold your ground, and keep going. We’re rooting for you!Follow us on <a href="https://www.tiktok.com/@salarytransparentstreet">TikTok</a>, <a href="https://www.instagram.com/salarytransparentstreet/">Instagram</a>, <a href="https://www.facebook.com/salarytransparentstreet">Facebook</a>, <a href="https://www.youtube.com/salarytransparentstreet">YouTube </a>and <a href="https://www.linkedin.com/company/salarytransparentstreet/">LinkedIn </a>for daily pay transparency interviews and career news you can use!Explore over 5,000+ individually reported salaries nationwide across all industries in our <a href="https://www.salarytransparentstreet.com/salary-database">Salary Database</a>!Need help determining your market rate? Download our free <a href="https://view.flodesk.com/pages/626ccc8e1e8046b220253e47">Market Research Guide</a> to learn what you should be making.Subscribe to our <a href="https://salarytransparentstreet.beehiiv.com/subscribe">weekly newsletter</a> for news updates, professional deep dives, learning opportunities, and more!Send us an email ➡️ hello@salarytransparentstreet.com

desktop featured image with green background, 2 message bubbles, and title text overlay that reads how to negotiate a job offer

Green image with 2 talking bubbles with one that has a dollar sign in it and overlay text that reads "how to negotiate a job offer"

How to Negotiate Salary in a Job Offer

Salary negotiation can be challenging.&nbsp;For many professionals, the mere thought of entering into a salary negotiation can be daunting. According to a <a href="https://www.pewresearch.org/short-reads/2023/04/05/when-negotiating-starting-salaries-most-us-women-and-men-dont-ask-for-higher-pay/">Pew Research Center survey</a>, 60% of people did not negotiate their salary.&nbsp;The fear of sounding too aggressive or the uncertainty of knowing what to say often leads individuals to settle for less than they deserve. Women especially feel this when faced with negotiating and the risk of being seen as “too difficult” to work with due to bias.Even with the rise of <a href="https://www.salarytransparentstreet.com/resource-hub/pay-transparency-laws">pay transparency laws</a> across the US where employers are now required to disclose salary ranges for job listings in some states, it’s still important to negotiate your salary and advocate for yourself. Failing to negotiate could cost you millions over your lifetime.In the heat of interviewing and discussing salary with the recruiter or hiring manager, I’ve found having a few scripts ready to go helps to stay confident in those talks.

&nbsp;Key points:<ul><li>Salary negotiation scripts can serve as guides, empowering you with the confidence to navigate the negotiation process effectively.&nbsp;</li><li>Compensation is more than just your salary. It includes your benefits too, which should be accounted for when negotiating.</li><li>Negotiating salary over the phone can be overwhelming for some folks. In this case, negotiating salary over email might work best.</li></ul>

<h2>Should I negotiate by phone or email?</h2>Usually, job offers are presented over a phone call, in person, or during a video call. This is a tactic hiring managers use to create a sense of urgency that you need to accept the offer on the spot.&nbsp;Don’t fall for it.&nbsp;A good rule of thumb when receiving any job offer is to get the official offer in writing and to take at least 24 to 48 hours to review it. Be sure to communicate that timing with the hiring manager too. Next, what do you say?

<h2>Negotiating Salary Over The Phone</h2><a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-salary-offer">Negotiating a salary offer</a> over the phone can be tricky, especially if you don’t know your market rate. Never go into negotiations without a target number (or range) in mind. Our <a href="https://link.mail.beehiiv.com/ls/click?upn=zv0OIymeN4PLIGdIdZnih3jFGmiW-2FGSoxGGMGlser-2BwOguwBMTEgQJsY4qhH3rAAPOe2EDDI00UIy4ZEFawHABGe497xisoasZBHn5AtyhCIEK4-2Bddj3wOvg-2F16F7gbxhODfEdzWqqbwNdN7v7k8k1bj40e4E0fPXKKrIyryk3K8EoiBmFtN-2Fdy-2FV-2FrKejf3j45vCaxaI7ve0nvhRHVB11JGdFIa49aT7MScN5eU1dBeuEU5ox2tDx-2BpybJHW9oQDGXBZxpcY9zxgN2ZNBQ8iNvMW3h4MizQT-2BjBgPiefF9dD9LKrkH2tInX-2BTIx0SUSUNtAsRV5e0BHUDDAnFg-2FwDL4ymaFAiZLuh1bebye6X9gv53JUjfiK-2FG5KsvzvDU2h-2BxByzFaL1Gv9L6uVmo-2BNvRxG2-2FXSeY-2FS07LIEyTNj2J-2B96yaE2IxrTZvlSb10lC4Su80C2fFc3JE7ilaPSxK62Hvtn1Xh9hfwET7GPlB46aZW8DFkNP7ntMbSkc5a-2Bb8M3KRQGej9Kgj9UY-2BjjNYO9JE8MPshT20BYXhNqoecn3hdktrdgV8s7NvkdEb8t6Dgh72ii306aloofOY2nUJEfUxJ4-2FUThWsp-2FacWm74eD02GB75o8F24AAoj7lxMnx12HcnIaKO9kmZosvtvzeNY6OxPd4EGvU1J071feIQNo5XGb7bU2DtErElkOwMHjs-2Bfa2YRNTwrtohpUbnj9rAf-2BkpMKeEmtnRThVHZIwbLyaMz3okzZpfMvEZVB1ltuNGItqpV4ds-2FrAzRjmSGMjEJ9AROXnFmqr4E-2BS6Glo8vWCDt4ptqh87AIGbVkMne8rKmLBqlIvgJAqYlhPMBIP9VxOni2hNZo70xEcMRgUnYrz-2FHuv0S1rJ42-2B-2F3GhDQ-2Bx-2FSmXH-2FuYQSNO3bqEEcksTmAxJHBiQhmWhJc8YoWXkPs-3DHngR_e-2FZz2TLfiAVe-2FKyTwnKoPmSWDbgl6CfX1faZKhVNwddssNFki5EKYzS82J-2BO2Pyn-2BiPHMJYI2i8dWArze612NznX8V-2BEeqN2Jg6R5igUjFYgNx7sBYR0qc-2BHCeQFI1Z9pkY6BklfFnppiI1SZQhvllxP5JCKmMb6WcfLgwAbC1QSKrppXtVJUMQOqzs76zWOOHoyVe6aRAxRxg50czKwGJk-2BbLZq5fTpaoe0GKHrPwIUE1OLaR9jx9rLJwWUowy2x1k4NbgBrkhjQNoNF0WFN0s06-2F97H6RvYEv4FUth6Im09y2Ui8LtjQCuUnaaV2L3RFrltJ-2BmAu87sZTlENdrCqg7-2FrqlTvdk0bkcntcM8FbHVJjNI-2BSSZEKd-2F-2BNo-2BdcTaFftwpuquOW8ffBayNp6kmh-2Bn5uHH0Fax4pmvNyi4DXn3kGQpHtNdSYxiP03-2Fs8-2F">Market Research Guide</a> can help you with that.Even if you know your market rate, wait to negotiate until you have the offer in writing. You aren’t only negotiating your salary during a job offer, but you're also <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-benefits">negotiating benefits</a> like health benefits, sign-on bonus, stock options, vacation time, start date, remote work benefits, etc. These discussions can quickly get in the weeds and are easier to emotionally manage over email.Use the following script for when you receive a job offer over the phone to redirect the offer to your email:“This is great news! Thank you so much for the offer! It was great to meet you and I’m so excited to join the team. Before I can accept, can you please email me the complete offer and compensation package with both the salary and benefit information?” &nbsp;

Jimmy fallon gif of his saying this could've been an email

<h2>Salary Negotiation Email</h2>After you receive the written offer over email, it’s time to start negotiating! You can either review the offer over email and set up a call to discuss. Or, if you get nervous easily on phone calls like that and have a tendency to not advocate for yourself as much in a live interaction, you can reply and start your negotiation over email.Start off by thanking them again and showing your excitement. Depending on what you’re negotiating for, whether it’s a higher salary or better benefits, your reply would look something like this:“Dear [hiring manager’s name],Thank you again so much for the offer and sending all of this over! I am really excited to work with the team but there are a few things I want to discuss before accepting the offer. The salary is much lower than my market rate and salary expectations. Based on my understanding of the role, my experience, skills, and the results I’ve been able to drive in my professional career, I am looking for a salary of between [$X and $X]. What can we do to come to an agreement?I look forward to hearing from you to discuss further,[your name]”You might tweak your reply using any of the salary negotiation scripts below.If they ask you to jump on a call to discuss, keep your points in view during the phone call to stay on track, reinforce your experience, skills, results, and hold your ground. You got this!

<h2>Salary Negotiation Script Structure</h2>A salary negotiation isn’t meant to be a battle, even though they can feel that way sometimes. Instead, they’re a partnership.&nbsp;You aren’t fighting the hiring manager. You’re working with them to come to an agreement that works for the both of you. Keep this in mind when replying to job offers and using any salary negotiation scripts, especially your tone while handling them.The general structure that most salary negotiation scripts use follows a flow.<ol><li>Start with expressing your excitement and thanking the hiring manager or Human Resources associate that made the offer.</li><li>Share something positive about the interview process like how great it was to meet them and the team, and how excited you are to get started.</li><li>State that there are a few things you’d like to discuss and would like to see the entire compensation package with salary and benefits included before accepting the offer.</li><li>Take some time to carefully review the compensation package.</li><li>Counter-offer with your expected salary or range and any additional benefits you’d like to negotiate for.</li><li>End with a positive sign off.</li></ol><h2>11 Example Salary Negotiation Scripts</h2>Add the following scripts to your tool box when going into job interviews and negotiations.

Gif of laverne cox saying stick to the script

<h2>When Bringing Up Salary in The Introductory Interview</h2>If the job listing didn’t include what the pay was for the job, you can ask the recruiter about salary in the introductory interview. Disclosure of pay range is actually required in several states such as Washington, California, and Pennsylvania. View our full <a href="https://www.salarytransparentstreet.com/resource-hub/pay-transparency-laws">map of pay transparency laws</a> across the U.S. to check what’s required in your state.Even if your state doesn’t require that the employer disclose the pay range, you have every right to ask what the pay is for the job you’re interviewing for. The sooner you ask, the better so you aren’t wasting hours of interviews to get the bad news that they don’t have the budget to pay you fairly.The best way is to ask when they prompt with a question like, “Do you have any questions?”. Then respond with something along the lines of “What is the budgeted salary range for this position?”.&nbsp;If they respond with a budget that is too low, use this script:“That’s not within my market rate/the competitive rate for me and my peers. Is your budget flexible?”

<h2>When Asked What Your Salary Expectations Are</h2>If the hiring manager or recruiter asks you what your salary requirements are, use this script:“I’ve done the market research and I have an expected range in mind, but it’s a bit too early in the interview process for me to gauge the full scope of this position. Would you mind please sharing the budget for this role with me?”This exact script helped Salary Transparent Street founder,<a href="https://www.salarytransparentstreet.com/resource-hub/why-i-started-salary-transparent-street"> Hannah Williams</a>, get a $25,000 raise from $90,000 to $115,000!

michael scott gif of him saying i am declining to speak first

<h2>When The Salary Offer is Too Low</h2>When the salary offer is lower than expected, reply with this script:“Thank you. This is wonderful news! I enjoyed meeting you and the team, and am beyond excited to work together. Before accepting the offer, I’d like to discuss the salary as it’s much lower than my competitive market rate. Based on my skills and experience, I’d be eager to accept a salary of [$X] for this position and [insert any benefits you’d like to negotiate for].”

giff of someone saying you're not going to insult me with a low ball offer

<h2>When The Written Offer is Lower Than The Verbal Offer</h2>When the written offer doesn’t match the verbal offer, this script will come in handy:“Thank you so much for sending over the written offer and full compensation package! However, I noticed that the salary on the written offer is lower than the verbal offer we discussed on our call, and lower than my market rate. Considering my skills, experience, results, and market salary for this position, I’d be eager to accept a salary of [$X] for this position and [insert any benefits you’d like to negotiate for].”

Brooklyn 99 gif saying uncool, uncool, uncool

<h2>When Providing a Desired Salary Prematurely That Was Too Low</h2>If you’ve disclosed your salary requirements too early in the process and find that your salary needs to increase to match the full scope of the position, use this script:“Thank you for considering my initial desired salary, I genuinely appreciate it. However, as we have progressed further in the interview process and I’ve learned the full scope of the position, I see additional requirements that were not explicitly stated in the job posting (give an example or 2). Considering these changes, I would feel most comfortable accepting a salary between [$X and $X].”

<h2>When Leveraging Job Offers From Other Companies</h2>If you get multiple offers that coincide with each other, leverage those in negotiations with this script:&nbsp;“Thank you. This is great news! I loved meeting the team and am excited to get started on the projects we discussed. Before accepting an offer, I’d like to discuss the salary as it’s much lower than my market rate. I was recently offered a position with another company (indicating if it’s a competitor or not), and am considering my options. Based on their offer, my skills, experience, results, and market salary for this position, I’d be eager to accept a salary of [$X] for this position and [insert any benefits you’d like to negotiate for]. I believe my experience in [x,y,z] can add significant value to the team.”

Gif of alexis from schitt's creek flipping her hair

<h2>How to Counter So They Don’t Rescind Their Offer</h2>Rarely a company might rescind an offer while negotiating. Employers expect people to negotiate and don’t rescind offers just because the potential employee tried to negotiate.&nbsp;However, they might withdraw their offer if the candidate asks for a salary that is unreasonable, has poor communication with the recruiter, or is rude and doesn’t work with the recruiter collaboratively to reach an agreement. There are also other factors that might be out of your control such as budget changes, restructuring the company where the position is no longer available, or going with an internal candidate.&nbsp;<h2>When They Can’t Budge on Salary</h2>

Nadja from what we do in the shadows saying this I know  how to handle

Let’s say you counteroffer and they are unable to budge on the salary. This is when you can try to negotiate for other things like remote work, more vacation time, or a sign-on bonus.Use this script template for negotiating for benefits:“Thank you for that information and I understand there isn’t room to budge on the salary. If the salary can’t be adjusted to accommodate my market rate, I’d be eager to accept the position for [$X] with the ability to work fully remote and an extra 5 days of vacation [or insert any benefits you’d like to negotiate for]. What can we do to make this work for the both of us?”<h2>When The Salary is Not Negotiable</h2>

Sometimes a company may have set compensation packages per level that are not negotiable. They will either tell you at the time of the offer or when you try to negotiate that the offer is non-negotiable since it’s already set in the budget.In this case, you’ll have to decide if you want to accept it or not, or move on.<h2>After Accepting an Offer but Changed Your Mind</h2>If you’ve already accepted the offer but have since changed your mind, don’t worry. It happens.This script will help get through that scenario, as long as you didn’t already sign the job offer:“Thank you so much for chatting with me today about the job offer! I know we recently came to an agreement of [$X] for the salary, however, since accepting the job offer I’ve had some time to dig deeper into the role and the full scope of the position. I am still interested in the position and would be ready to start with everything else we’ve agreed upon, but would like to negotiate the salary and would be eager to move forward with [$X] for the salary. Is this doable?”<h2>When Renegotiating Salary at Your Current Job</h2>

Michael and stanley from the office talking about how to get stanley to stay

When you’ve been at a job for a while but your pay isn’t matching the current role anymore, you have every right to renegotiate your salary!This script is perfect for negotiating a higher salary and better suited agreement:&nbsp;“Thank you again for taking the time to meet with me today. I’ve been with the company for [X] years now and love the work I do, as well as the team I work with. However, in that time, the scope of the role has changed with additional responsibilities. I’ve been asked to take on responsibilities of a more senior position, in addition to my current position. Before I can fully commit to that, I would like to review my current compensation package and reach a figure that better suits these new responsibilities. Considering industry standards, similar positions recently posted on the company’s website, my experience, skills, &amp; market rate, I believe a salary of [$X] makes the most sense moving forward.”If they can’t budge, ask for an increase in any of your benefits such as more paid time off, flexible working conditions, more parental leave, etc.<h2>Knowing When to Walk Away</h2>Never accept a job offer without negotiating. The worst thing they can say is no and if that happens, you always have the decision to walk away.&nbsp;Consider your “must-haves” to advocate for with every job offer you negotiate, so you know when it’s time to walk away. Need help determining your market rate so you know when to walk away? Download our free <a href="https://view.flodesk.com/pages/626ccc8e1e8046b220253e47">Market Research Guide</a> to learn what you should be making.Follow us on <a href="https://www.tiktok.com/@salarytransparentstreet">TikTok</a>, <a href="https://www.instagram.com/salarytransparentstreet/">Instagram</a>, <a href="https://www.facebook.com/salarytransparentstreet">Facebook</a>, <a href="https://www.youtube.com/salarytransparentstreet">YouTube </a>and <a href="https://www.linkedin.com/company/salarytransparentstreet/">LinkedIn </a>for daily pay transparency interviews and career news you can use!Explore over 5,000+ individually reported salaries nationwide across all industries in our <a href="https://www.salarytransparentstreet.com/salary-database">Salary Database</a>!Subscribe to our <a href="https://salarytransparentstreet.beehiiv.com/subscribe">weekly newsletter</a> for news updates, professional deep dives, learning opportunities, and more!Send us an email ➡️ <a href="mailto:hello@salarytransparentstreet.com">hello@salarytransparentstreet.com</a>

featured image for desktop with a graphic of scripts and title text overlay that reads salary negotiation scripts

featured image for mobile with a graphic of scripts and title text overlay that reads salary negotiation scripts

Salary Negotiation Scripts to Use

Salary discussions at the office rarely happen but they should. It’s the very thing that causes everyone to be there for work in the first place, but it’s the last thing anyone wants to bring up.&nbsp;

Let’s be real. We’ve been told for so long that it’s tacky to talk about how much we make because the more silence there is around what employees are making, the more a company can profit off of those who are underpaid.This taboo can bring up insecurities and make conversations about pay difficult to start. Knowing how to approach the subject of salary with coworkers in a respectful manner is essential for having a productive conversation that helps everyone.Key points:<ul><li>There are policies in place against pay secrecy that protect employees when talking about pay.</li><li>The best salary discussions are mutually beneficial and lead with clear intentions.</li><li>There is a difference between your peers' salaries and your market rate. Be sure to research your market rate either before, during, or after these discussions.</li></ul>

&nbsp;<h2>Can you be fired for talking about pay?</h2>No, you can’t be fired for talking about your pay at work. There are <a href="https://www.salarytransparentstreet.com/resource-hub/pay-transparency-laws">pay transparency laws</a> in place to combat pay secrecy and protect employees from retaliation when talking about pay. According to the <a href="https://www.nlrb.gov/about-nlrb/rights-we-protect/your-rights/your-rights-to-discuss-wages#:~:text=If%20you%20are%20an%20employee,policies%20against%20using%20their%20equipment">National Labor Relations Act</a>, “employees have the right to communicate with other employees at their workplace about their wages.”&nbsp;It’s an important right that you should exercise as much as you can, as appropriately as you can.What you can’t do is talk about other people’s salaries if you found out. For example, if you find out what colleague A is making and you talk to colleague B, you can’t tell colleague B what colleague A is making. Even HR can’t have conversations with other people about other people’s salaries.You can only share what you make.&nbsp;

Person saying we're gonna keep this between us

When it gets legally tricky is if the company you work for has any clauses that restrict you from having salary discussions on company time or company property.&nbsp;If this is the case for you, invite your colleague out for coffee or lunch to start that discussion. When these conversations are in more relaxed environments outside of the office, they tend to be much more productive anyway.&nbsp;<h2>Icebreakers to Begin Salary Conversations at Work</h2>It’s awkward and intimidating to start conversations about salary at work. First, give yourself grace. These conversations certainly aren’t normalized and it’s natural for you to feel weird about them.The best way to frame it is to present what your situation is first. Maybe you want to ask for a raise or are simply curious to see if you’re being underpaid at your job.&nbsp;Start with something along the lines of, “After working at the company for X amount of time, I’ve been thinking about asking for a raise. After watching Salary Transparent Street, I’m wondering what is a fair number to ask for. What’s been your experience in your career with salary negotiation?”If you’re curious to see if you’re being underpaid, bring up the topic of something like employee reviews coming up or a new project or responsibility you’ve been given. These topics can be used to naturally steer the conversation into talking about pay.

Try to frame it in a way that isn’t directly asking them how much they make. Give them the opportunity to get the feel of the conversation and have it naturally evolve from there. Gauge how comfortable they are with it because it isn’t fair to force that conversation if they’re not ready.&nbsp;Something that tends to make starting these conversations easier is to first practice on friends and family.&nbsp;<h2>Do’s &amp; Don'ts of Discussing Salary With Coworkers</h2>Whenever you have these conversations, come from a place of respect and wanting to learn something that benefits you. Your intention behind wanting to start these conversations is an important element for how they’ll play out. There’s a difference between being nosy and wanting to have a productive conversation to learn something that can help with your career development.&nbsp;The conversation should also be mutually beneficial. If you’re wanting to ask someone about their compensation, are you willing to share yours in return?

Ilana broad city saying I respect you respecting me

<h2>What to Do With The Information</h2>If you find out you’re being underpaid from someone else’s salary, DO NOT storm into your manager’s office and point fingers.Legally (see above), you can’t tell them that your colleague is making [$X], which is higher than what you make, and then ask for a raise. You’ll need to present an argument for a pay increase competitive with the market rate of your peers based on your experience, skills, etc.Use what you’ve learned from your colleagues and then do your own research to find your market rate. Download our free <a href="https://view.flodesk.com/pages/626ccc8e1e8046b220253e47">Market Research Guide</a> to learn what you should be making.Then, use a sample script from our free Salary Negotiation Guide (coming soon!) to ask for a raise, or learn how to negotiate a job offer if you need to start looking for another job).&nbsp;Follow us on <a href="https://www.tiktok.com/@salarytransparentstreet">TikTok</a>, <a href="https://www.instagram.com/salarytransparentstreet/">Instagram</a>, <a href="https://www.facebook.com/salarytransparentstreet">Facebook</a>, <a href="https://www.youtube.com/salarytransparentstreet">YouTube </a>and <a href="https://www.linkedin.com/company/salarytransparentstreet/">LinkedIn </a>for daily pay transparency interviews and career news you can use!Explore over 5,000+ individually reported salaries nationwide across all industries in our <a href="https://www.salarytransparentstreet.com/salary-database">Salary Database</a>!Subscribe to our <a href="https://salarytransparentstreet.beehiiv.com/subscribe">weekly newsletter</a> for news updates, professional deep dives, learning opportunities, and more!Send us an email ➡️ <a href="mailto:hello@salarytransparentstreet.com">hello@salarytransparentstreet.com</a>

picture of 2 people at a desk with coffee and title text overlay that reads talking about salary at the office

2 people at a table with coffee and title text overlay that reads talking about salary at the office

How to Talk About Salary at the Office

When it comes to <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-salary-offer">negotiating a job offer</a> or asking for a raise, most of us tend to focus solely on salary. We forget that our benefits are another piece in our total compensation package and when we ignore this, we’re leaving a ton of money on the table. In fact, according to the <a href="https://www.bls.gov/news.release/ecec.nr0.htm">United States Bureau of Labor Statistics</a>, benefits make up approximately 29% of total compensation costs.&nbsp;No amount of pizza parties are going to make up for that.

Jimmy fallon gif saying that's a lot of money

Knowing which benefits are negotiable and how to approach the subject in negotiations will help you secure a compensation package that you’re happy with.Key points:<ul><li>Negotiate your entire compensation package, not just salary.</li><li>Some benefits are legally required based on the size of the company and type of role.</li><li>If a company can’t budge on salary or a specific benefit, you can get creative with your counter by bringing up other benefits to negotiate for.</li></ul>

&nbsp;<h2>What else can you negotiate besides salary?</h2>There are 2 types of benefits a company offers to its employees: statutory benefits which are mandatory and voluntary benefits that an employer chooses to offer.&nbsp;Employers are legally required to cover benefits like Medicare and Social Security, unemployment insurance, workers’ compensation insurance, health coverage, and Family and Medical Leave Act (FMLA) protections. If they don’t provide these benefits under the federal and state requirements set for each, they could be penalized. For instance, under the Affordable Care Act, employers with 50 or more full-time employees are legally required to provide health insurance or pay penalty fees to the IRS.

Then there are other benefits that a company may include in their benefits package to show employees their commitment to them and increase their ability to retain good talent. These are voluntarily offered by the company depending on their values and are usually negotiable depending on the company and their flexibility to offer more or less of a specific benefit.Benefits you can typically negotiate include:<ul><li>Better health benefits</li><li>Work flexibility like remote work, work-from-home or work-from-anywhere days, flexible hours, a 4 day work week, etc.</li><li>A later start date</li><li>A sign-on bonus</li><li>Stock options</li><li>More paid or unpaid vacation time</li><li>More paid time off (PTO) days</li><li>A higher matching percentage for employer-sponsored retirement plans</li><li>Volunteer days</li><li>Relocation assistance</li><li>Home office stipend</li><li>Company-paid phone plans</li><li>Transportation reimbursement</li><li>Performance incentives like bonuses</li><li>Tuition reimbursement</li><li>Learning or development stipends such as paid trainings, conference attendance, and other events</li><li>Professional memberships</li><li>More parental leave</li><li>Child care assistance</li><li>Family planning benefits</li><li>Sabbaticals</li><li>Wellness benefits like gym membership reimbursement and mental health resources</li><li>Guaranteed severance packages</li></ul>If you don’t know where to begin when negotiating benefits, ask yourself this question:What benefits would have the biggest impact on your life, health, well-being, and work-life balance?Negotiating for additional benefits isn’t only about increasing your overall compensation package but also about ensuring that you have the support you need to succeed in your role and maintain a healthy work-life balance. Knowing exactly what you want is going to make this process much easier.

gossip girl gif saying i know what i want and I'm gonna get it

<h2>When should you negotiate benefits?</h2>You probably don’t want to go through an entire job interview process only to find out in the job offer that they don’t offer health insurance, which is a pretty important benefit. It’s a good idea to research what benefits a company offers when applying to a job. In states like Washington, there are <a href="https://www.salarytransparentstreet.com/resource-hub/pay-transparency-laws">pay transparency laws</a> that require employers to post both the salary and benefits in the job posting. If they do or don’t have that information available, you’re allowed to ask them about it at any point in the interview process.Similar to discussing salary expectations in the introductory interview, it’s best to ask about the benefits package upfront along with the salary range. Use this time to set expectations with the hiring manager about what you’re looking for in a total compensation package. You can even ask for any external documentation they can share that explains their benefit package.

When you receive the job offer, be prepared to ask for any additional benefits that aren’t in the benefit package. If you’re negotiating a higher salary, you can also ask for certain benefits you would like and/or ask for them when countering an offer from a company that can’t budge on salary.<h2>How to Negotiate Benefits in a Job Offer</h2>Remember that negotiations aren’t battles, they’re partnerships. You’re working with the hiring manager, not against them, to come to an agreement that works for the both of you. Avoid being short, cold, or too cut-throat in your communication with them.When receiving and <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-salary-offer">negotiating a job offer</a>, a good rule of thumb is to use the 24-hour rule to review the offer, so you can respond with confidence, knowing exactly what you want and how you’re going to ask for it. If they didn’t share the full compensation package with the job offer, first ask for that. This should include both the salary and benefits. Then lead with excitement and gratitude before countering with a higher salary, more benefits, or both.Refer the script structure from our <a href="https://www.salarytransparentstreet.com/resource-hub/salary-negotiation-scripts">salary negotiation scripts </a>guide to put together a response along the lines of:“Thank you so much! I really enjoyed meeting with you, getting to know the team, and think this role is a perfect fit for me. Before accepting the offer, there are a few things I want to discuss. The salary is much lower than my market rate for this position. Based on the scope of the role, my experience, skills, and the results I’ve been able to drive in my professional career that I intend to bring to this position, I am interviewing for roles that offer a salary between [$X and $X] and [insert any benefits that are important to you]. What can we do to come to an agreement?”

If you’re only negotiating for additional benefits and are happy with the salary offer, use a script similar to this:“Thank you for this opportunity and I'm excited to work with the team! Before I accept the offer, I would like to discuss the compensation package and see if we can include a few additional benefits. My experience, skills, and value I’ve been able to demonstrate in my prior roles warrants a higher compensation package. I’d be eager to accept the offer with a $10,000 sign-on bonus, an additional 5 days of PTO, and flexible hours.”If you’ve tried to negotiate a higher salary and the company can’t budge due to budget constraints, and you really want the job, use a script like this for your counter:“Thank you for working through the details of the offer with me. I understand the company doesn’t have the budget to go higher on the salary. However, I’d be eager to accept the offer with [state the benefits you’d like to negotiate for] included in my contract.”Try to read the hiring manager to see if they are at their limit or not, and if you’re able to gently push for more.<h2>How to Negotiate Benefits When Asking for a Raise or During Employee Reviews</h2>Employee reviews and raise discussions have a slightly different context than negotiating during a job offer. You’ve already been at the company for quite some time and have hard evidence of the value your work brings. Lead with that!During employee reviews, use this script as a guide to draft out your own:“Thank you for meeting with me today. I’ve been with the company for [X] years now and love the work I do, as well as the team I work with. Together, we’ve completed a number of successful projects together that yielded results like [explain some results you’ve driven in your role]. However, in that time, the scope of the role has changed with several additional responsibilities. Before I can fully commit to those, I would like to review my compensation package and reach an agreement that better suits these new responsibilities. Considering the value I bring, in addition to industry standards, similar positions recently posted on the company’s website, my experience, skills, &amp; market rate, I believe a salary of [$X] makes the most sense moving forward. I’m also interested in discussing more paid time off and a fully remote work arrangement.”

prince harry motioning a mic drop with the word Boom

<h2>Stand Your Ground</h2>You have every right, and the power, to negotiate for the benefits that matter most to you. After you state or send over your requests, leave it at that. Don’t add any fluff or passiveness that might show these are flexible and aren’t that much of a big deal to you. Embrace awkward silences and try not to cave under the pressure.&nbsp;Most importantly, once both sides come to an agreement, make sure that any negotiated benefits, perks, and salary are in writing as a part of your contract. If they’re not in your contract, they can change and take them away at any time.&nbsp;That wraps it up for this week. Until then, stay awesome, stay strong, and keep advocating for yourself! I’m Daniella, writer, engineer, and creator of <a href="https://iliketodabble.com/">I Like to Dabble </a>and <a href="https://iliketodabble.com/remote-work-bestie/">Remote Work Bestie</a> - my blog and podcast for leveling up your money, career, and side hustles. I’m extremely passionate about worker’s rights and financial freedom, so it’s a pleasure to be able to bring you this type of content through the <a href="https://www.salarytransparentstreet.com/resource-hub">Salary Transparent Street blog</a> (thank you for the opportunity, Hannah!) You can also follow me on <a href="https://www.instagram.com/iliketodabbleblog/">Instagram</a>, <a href="https://www.tiktok.com/@iliketodabble">TikTok</a>, <a href="https://www.linkedin.com/in/daniellamarquez/">Linkedin</a>, and <a href="https://twitter.com/iliketodabble">Twitter</a>. Chat soon!Need help determining your market rate? Download our free <a href="https://view.flodesk.com/pages/626ccc8e1e8046b220253e47">Market Research Guide</a> to learn what you should be making.Explore over 5,000+ individually reported salaries nationwide across all industries in our <a href="https://www.salarytransparentstreet.com/salary-database">Salary Database</a>!Follow us on <a href="https://www.tiktok.com/@salarytransparentstreet">TikTok</a>, <a href="https://www.instagram.com/salarytransparentstreet/">Instagram</a>, <a href="https://www.facebook.com/salarytransparentstreet">Facebook</a>, <a href="https://www.youtube.com/salarytransparentstreet">YouTube </a>and <a href="https://www.linkedin.com/company/salarytransparentstreet/">LinkedIn </a>for daily pay transparency interviews and career news you can use!Subscribe to our <a href="https://salarytransparentstreet.beehiiv.com/subscribe">weekly newsletter</a> for news updates, professional deep dives, learning opportunities, and more!Send us an email ➡️ hello@salarytransparentstreet.com

Desktop featured image with green background and title text overlay that reads how to negotiate benefits

Featured image with a green background and title text overlay that reads how to negotiate benefits

How to Negotiate Benefits & Other Things Besides Salary

Thank you to our partner Capitalize for collaborating with us and allowing this resource to come to life.Jobs aren’t quite the same as they were in the 90s. People don’t spend a decade or more at the same job anymore, and switch employers more often. With frequent job changes, it’s not a surprise that people leave their 401(k)s behind, often forgetting about them completely.&nbsp;Forgotten 401(k)s actually grew to $1.65 trillion in assets during 2021 and 2022, <a href="https://www.hicapitalize.com/?utm_source=STS&amp;utm_medium=email&amp;utm_campaign=q32023">according to Capitalize</a> which is a free service that helps people claim and rollover their old retirement accounts.

Enter the job hopper. “Job hopping” is a buzzword created online to give name to a phenomenon of when employees spend less than a year at a job before quitting to move to the next one in hopes of <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-salary-offer">negotiating a higher salary</a> and increasing their benefits, flexibility, and experience. It’s also what helped our founder, Hannah Williams, increase her own salary and eventually <a href="https://www.salarytransparentstreet.com/resource-hub/why-i-started-salary-transparent-street">start Salary Transparent Street</a>. Job hoppers are some of the most affected by forgotten 401(k) accounts and savings.When leaving a job after any amount of time, it’s your responsibility to decide what to do with your old 401(k). Unfortunately, these accounts don’t follow you from job-to-job and the longer you procrastinate dealing with them, the more you could lose out on those hard earned gains on investments, resulting in decreased retirement funds.&nbsp;Let’s dig deeper into how you can roll over your 401(k) after leaving a job and how to recover lost or forgotten 401(k) accounts.Key points:<ul><li>It’s most common to roll over your 401(k) to an IRA account after leaving a job.</li><li>Leaving your 401(k) with your employer could cost a ton in fees and you could lose out on significant gains.&nbsp;</li><li>401(k) rollovers are surprisingly easy and completely free, including lost and forgotten accounts.</li></ul><h2>What is a 401(k) Rollover?</h2>An employer-sponsored 401(k) is a common <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-benefits">work benefit</a> at many jobs that allows you to start contributing funds from your paycheck towards your retirement. Oftentimes the employer will match your contributions at a certain percentage, which is essentially free money invested into that account for you. Rolling over your 401(k) account after leaving a job is a process that makes sure you don’t lose this money.401(k) rollovers consist of transferring funds from an employer-sponsored retirement savings account to an individual account or new employer’s 401(k) plan. This financial strategy allows individuals to consolidate their retirement savings, providing greater control, less fees, investment flexibility, and potential for growth. You may actually be able to retire up to 4 years sooner just by reducing your 401(k) fees alone.&nbsp;

Rollovers are especially important for individuals who <a href="https://www.cnbc.com/2022/05/12/25-year-old-went-from-40k-to-115k-in-3-yearsher-negotiation-trick.html">change jobs frequently</a>, as they enable a seamless transition of retirement funds without incurring taxes or penalties, while also preserving a tax-advantaged status.<h2>401(k) Rollover Options and Rules</h2>When considering a 401(k) rollover, there are several options and rules to keep in mind. If you’re rolling over a traditional 401(k) account, you have the option to transfer those funds into another qualified retirement account, such as an Individual Retirement Account (IRA), a Roth Individual Retirement Account (Roth IRA) for rolling over Roth 401(k) accounts, or a new employer's 401(k) plan.&nbsp;Rollovers to a traditional IRA or a new employer's traditional 401(k) plan usually have no immediate tax consequences. The same goes for rolling over Roth 401(k) accounts into a Roth IRA. However, if you're moving funds from a traditional 401(k) to a Roth IRA or Roth 401(k), that is considered a Roth conversion and you'll need to pay income taxes on the converted amount.Generally, you have 60 days from the time you receive a distribution from your old 401(k) to complete the rollover if you do an indirect rollover. If you fail to do so, the distribution might be subject to taxes and penalties.

schitts creek gif with text that says we don't want drama

The rules and options can vary, so it's essential to understand your specific circumstances and consult with professionals who can provide personalized advice based on your financial goals and needs. The professionals at <a href="https://www.hicapitalize.com/?utm_source=STS&amp;utm_medium=email&amp;utm_campaign=q32023">Capitalize </a>are a great place to start (and it’s completely free).<h2>How to Roll Over Your 401(k)</h2>To start your 401(k) rollover using Capitalize, <a href="https://www.hicapitalize.com/?utm_source=STS&amp;utm_medium=email&amp;utm_campaign=q32023">select the “Get Started” button on the Capitalize website</a>. From there you’ll be asked to provide a few details about your old retirement account and where you’d like to roll it over.With Capitalize, you can successfully transfer your old retirement account into an IRA that you control, not your old employer. It’s usually most common to rollover your old 401(k) to an IRA instead of a new employer’s plan. IRAs generally come with more flexibility for investment options and less fees than employer-sponsored 401(k) plans.

capitalize screenshot to initiate 401k rollover

If you don’t have any details about your old account, there is an option to select in which Capitalize will find your account for you. This is honestly my favorite Capitalize feature and has helped me find and rollover 3 lost 401(k)s of mine.

Once you locate your old 401(k), choose an IRA that best fits your needs for your rollover. This can be an existing IRA that you have, or a completely new one. If you don’t know where to begin with finding where to open an IRA at, Capitalize will also give you a few of their own suggestions based on what’s most important to you.

After all of the information is submitted, Capitalize takes it from there. Their team will begin processing your rollover, including all paperwork and communicating with your retirement account provider(s). They also don’t miss a beat in making sure the status is promptly communicated back to you, with up-to-date widgets for each rollover that are updated in real-time on the Capitalize dashboard.

capitalize screenshot of old 401k rollover status

Once the process is complete, Capitalize will notify you for any additional action needed on your part and you’re done!

capitalize screenshot of a completed 401k rollover notification

<h2>How Job Hopping Might Actually Help You Save More for Retirement</h2>Job hopping seems like a term that would reflect workers in a negative light. But that’s far from the truth.In today’s context, the term could potentially open up hiring managers to negative bias towards candidates with less than 1 year at a job listed on their resume. Realistically, job hopping represents people standing up for what they deserve and taking action. Their employers would dump them in a second in the name of profits. So, why can’t we do what’s best for our own finances? One of the ways job hoppers do this is by taking advantage of 401(k) matching benefits at each job that helps them to save significantly more, especially when moving to a job that has a better match.Then on top of that, they save more money on fees from making sure they rollover their old 401(k)s to an IRA using <a href="https://www.hicapitalize.com/?utm_source=STS&amp;utm_medium=email&amp;utm_campaign=q32023">Capitalize</a>, which could potentially help them retire even sooner!If you want to learn more about 401(k) rollovers and how to get started with your own today, check out <a href="https://www.hicapitalize.com/welcome/?utm_source=STS&amp;utm_medium=email&amp;utm_campaign=q32023">Capitalize </a>and initiate your first rollover for free. With 1,000+ 5-star reviews on TrustPilot, you really can’t go wrong.

That’s it for this week! I hope you enjoyed this resource on a wealth building tool that often gets overlooked. Until next time, stay awesome, stay strong, and keep advocating for yourself! I’m Daniella, writer, engineer, and creator of <a href="https://iliketodabble.com/">I Like to Dabble </a>and <a href="https://iliketodabble.com/remote-work-bestie/">Remote Work Bestie</a> - my blog and podcast for leveling up your money, career, and side hustles. I’m extremely passionate about worker’s rights and financial freedom, so it’s a pleasure to be able to bring you this type of content through the <a href="https://www.salarytransparentstreet.com/resource-hub">Salary Transparent Street blog</a> (thank you for the opportunity, Hannah!) You can also follow me on <a href="https://www.instagram.com/iliketodabbleblog/">Instagram</a>, <a href="https://www.tiktok.com/@iliketodabble">TikTok</a>, <a href="https://www.linkedin.com/in/daniellamarquez/">Linkedin</a>, and <a href="https://twitter.com/iliketodabble">Twitter</a>. Chat soon!Download our free <a href="https://view.flodesk.com/pages/626ccc8e1e8046b220253e47">Market Research Guide</a> to learn what you should be making.Need help negotiating? Our free <a href="https://view.flodesk.com/pages/64c03066207ff6fa282b6bac">Salary Negotiation Guide</a> has scripts and tips to get you a higher salary at your current (or new) job.&nbsp;&nbsp;Explore thousands of individually reported, contextual salaries across all industries in our <a href="https://www.salarytransparentstreet.com/salary-database">Salary Database</a>!Follow us on <a href="https://www.tiktok.com/@salarytransparentstreet">TikTok</a>, <a href="https://www.instagram.com/salarytransparentstreet/">Instagram</a>, <a href="https://www.facebook.com/salarytransparentstreet">Facebook</a>, <a href="https://www.youtube.com/salarytransparentstreet">YouTube </a>and <a href="https://www.linkedin.com/company/salarytransparentstreet/">LinkedIn </a>for daily pay transparency interviews and career news you can use!Subscribe to our <a href="https://salarytransparentstreet.beehiiv.com/subscribe">weekly newsletter</a> for news updates, professional deep dives, learning opportunities, and more!Send us an email ➡️ hello@salarytransparentstreet.com

desktop featured image with green background and text that reads a guide to 401k rollovers

mobile featured image with green background and text that reads a guide to 401k rollovers

A Guide to 401(k) Rollovers

Your gender shouldn’t have anything to do with how much you get paid. It also shouldn’t have anything to do with how much you’re able to negotiate for. However, we unfortunately live in a world where discrimination happens and that discrimination can even lead to long-term financial impact.The <a href="https://www.pewresearch.org/social-trends/2023/03/01/the-enduring-grip-of-the-gender-pay-gap/#:~:text=The%20gender%20pay%20gap%20%E2%80%93%20the,every%20dollar%20earned%20by%20men.">gender pay gap</a> shows that women earn 82 cents for every dollar earned by men. Additionally, transgender women earn 60 cents, and transgender men and non-binary folks earn 70 cents for every dollar a cisgender man earns, according to the <a href="https://www.hrc.org/resources/the-wage-gap-among-lgbtq-workers-in-the-united-states">Human Rights Campaign</a>. These can lead to thousands and even millions of dollars less earned over the lifetime of their careers.&nbsp;

<a href="https://www.gsb.stanford.edu/faculty-research/faculty/margaret-neale">Margaret Neale</a>, a professor at Stanford, did an interesting analysis that shows that not negotiating is equivalent to working an additional 8 years. This shows that <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-salary-offer">negotiating salary</a> is absolutely important for not only your financial well-being, but also your professional success in your career trajectory.&nbsp;Negotiations themselves can’t solve the gender pay gap and wealth gap in America, but they are still important. No matter your gender, you should have that skill in your back pocket ready to go at any time.&nbsp;This is why we spoke with Kathryn Valentine, the CEO of<a href="https://worthmorestrategies.com/"> Worthmore Strategies</a>, a consulting firm focused on advancing women in the workplace, to dig into negotiating regardless of your gender.&nbsp;

Key points:<ul><li>There are gender stereotypes that play into negotiations.</li><li>A collaborative mindset combined with effective language during negotiations can increase your chances of success.</li><li>It isn’t your fault that a company is discriminating against you in negotiations based on gender. It’s the company’s fault.</li></ul><h2>Is there a gender gap in salary negotiations?</h2>No, there is actually not a gap between which gender negotiates more. That happens to be a myth. But there is a gap between how different genders are treated in certain situations due to gender stereotypes.

Kathryn dug into research from <a href="https://www.cmu.edu/dietrich/sds/people/faculty/linda-babcock.html">Linda Babcock</a>, a professor at Carnegie Mellon, on the topic that sheds some light into the progress of negotiations over time. “Back in the early 2000s, men were negotiating about 7 times as often as women. The good news is there has been a lot of media attention and education on that in the past 20 years and recent research by Lee and Kray showed that men and women are negotiating at equal rates, but women are only successful half as often.”&nbsp;A big factor that holds people back from successful negotiations is the fear of backlash. “New research by <a href="https://projects.iq.harvard.edu/hbowles/home">Hannah Riley Bowles</a>, a professor at Harvard, shows that the risk of backlash is highest in gender non-congruent negotiations, for example, when men negotiate flexibility or women negotiate pay.” Fears of backlash can even lead to workers thinking that they could possibly <a href="https://www.salarytransparentstreet.com/resource-hub/can-you-lose-a-job-offer-by-negotiating-salary">lose a job offer by negotiating salary</a>.Knowing how to get around those fears, manage risks, and find strategies that work the best for you is key for a successful negotiation.&nbsp;<h2>Strategies for a Successful Negotiation</h2>Thanks to <a href="https://www.salarytransparentstreet.com/resource-hub/pay-transparency-laws">pay transparency laws</a> spreading across the country, several companies now list salary ranges on job postings. These numbers can help immensely to set expectations when talking about pay.Before diving into any negotiation, first determine what your market salary would be. Use our free <a href="https://www.salarytransparentstreet.com/resource-hub/free-market-research-guide">Market Research Guide</a> to help with that.&nbsp;Once you have that number, determine the absolute lowest you’re willing to accept a job for and the highest you can go based on your market rate. This will help you determine an estimated salary range when negotiating.During any negotiation, it’s important to know what you can and can’t negotiate for. Things like salary, signing bonus, and commissions are all acceptable things to negotiate for. Benefits like flexibility, remote work, additional training, retirement savings and even vacation days are all <a href="https://www.salarytransparentstreet.com/resource-hub/negotiate-benefits">negotiable benefits</a>.

broad city gif driving in a blue convertible

When thinking of what you want to negotiate for, Kathryn recommends asking yourself what it is you truly want, “Ask yourself: what can I ask for that will help me be more successful? Less stressed? Happier?”. Once you know exactly what it is you want, ask for these relationally.<h2>Examples of Effective Language</h2>Kathryn gives a great example <a href="https://www.salarytransparentstreet.com/resource-hub/salary-negotiation-scripts">salary negotiation script</a> for some effective language to use when negotiating, “For example, ‘As you know, last year I delivered 10% over my annual target. I think I can hit 15% this year, but to fully focus. I recently came across this benchmarking study and was surprised to see the average in my role is 10% higher than my current pay, even though I’m a top performer. How can we close that gap?’”.

darryl office gif saying make it happen captain

Another strategy that Kathryn recommends is to approach negotiations with a collaborative mindset. “Instead of approaching a negotiation as me vs. you, go in with an ‘us vs. the problem’ mindset. The problem is anything that prevents you from delivering the highest impact at the lowest stress level. Those things are a problem for the employee and the employer.”“Approaching the negotiation as something we can solve together increases chances of success and reduces the risk of backlash. For example, in a job offer negotiation you could say something like, ‘Given my background, I can deliver in this role. However, I do have another offer for a 20% higher salary. I've really enjoyed getting to know you and this company and I want to be here. Can you help me close that gap so I can join your team and start contributing here?’”<h2>Things That Are Out of Your Control</h2>As we know with every negotiation, there are things out of your control and toxicity in company culture that you should be aware of. If something doesn’t feel right to you during any negotiation, know when to walk away.

devil wears prada gif getting out of the elevator

Kathryn shares what she would do in a situation where it isn’t a good fit. “We know that combative (or assertive) negotiations is a gender-stacked situation in which women are set up to fail because it triggers societal gender norms that result in backlash. So whenever I'm negotiating with someone who refuses to discuss these topics collaboratively, I get wary. Is this someone I really want to work with?”&nbsp;I echo what Kathryn said but would add that transgender and gender nonconforming folks may feel this backlash as well.<h2>It’s Not You, It’s Them.</h2>Negotiating salary is one of the most important skills you need in your career, regardless of your gender. It’s always in your best interest to do so and if a company ever makes you feel like your gender is the problem in those negotiations, it’s not you – it’s them. Know when to walk away.

<a href="https://hbr.org/search?term=kathryn%20valentine&amp;search_type=search-all">Kathryn Valentine</a> is the CEO&nbsp; of Worthmore Strategies, a consulting firm focused on advancing women in the workplace. She has spoken at Harvard, Wharton, and Darden business schools, and her work has been featured in  <a href="https://hbr.org/2022/10/3-negotiation-myths-still-harming-womens-careers">Harvard Business Review</a>, the <a href="https://f1v3ff69.r.us-east-1.awstrack.me/L0/https:%2F%2Fwww.wsj.com%2Farticles%2Fyou-found-out-your-co-worker-makes-more-can-you-ask-for-a-raise-11670128550/1/01000184ea35b281-a129ff62-f1ed-4c74-865a-29b6eb928748-000000/DY3R0_XjdmMGYZl4FF7KaSRzZzo=299">Wall Street Journal</a>, <a href="https://www.fastcompany.com/90683849/want-to-prevent-burnout-try-negotiating?partner=feedburner&amp;utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=feedburner+fastcompany&amp;utm_content=feedburner">Fast Company</a>, <a href="https://www.forbes.com/sites/jenniferpalumbo/2021/12/29/how-women-can-negotiate-a-raise-and-advocate-for-their-careers/?sh=2f0b156e1e78">Forbes</a> and <a href="https://www.businessinsider.com/personal-finance/gender-pay-gap-2022-3">Business Insider</a>. You can download her free list of <a href="https://view.flodesk.com/pages/5fd8ba0b7f6569a396ccbbd2">75 Things Women Can Negotiate</a>.That wraps it up for this week. Until then, stay awesome, stay strong, and keep advocating for yourself no matter what! I’m Daniella, a writer, engineer, and creator of <a href="https://iliketodabble.com/">I Like to Dabble </a>and <a href="https://iliketodabble.com/remote-work-bestie/">Remote Work Bestie</a> - my blog and podcast for leveling up your money, career, and side hustles. I’m extremely passionate about worker’s rights and financial freedom, so it’s a pleasure to be able to bring you this type of content through the <a href="https://www.salarytransparentstreet.com/resource-hub">Salary Transparent Street blog</a> (thank you for the opportunity, Hannah!) You can also follow me on <a href="https://www.instagram.com/iliketodabbleblog/">Instagram</a>, <a href="https://www.tiktok.com/@iliketodabble">TikTok</a>, <a href="https://www.linkedin.com/in/daniellamarquez/">Linkedin</a>, and <a href="https://twitter.com/iliketodabble">Twitter</a>. Chat soon!Need help determining your market rate? Download our free <a href="https://view.flodesk.com/pages/626ccc8e1e8046b220253e47">Market Research Guide</a> to learn what you should be making.Explore over 5,000+ individually reported salaries nationwide across all industries in our <a href="https://www.salarytransparentstreet.com/salary-database">Salary Database</a>!Follow us on <a href="https://www.tiktok.com/@salarytransparentstreet">TikTok</a>, <a href="https://www.instagram.com/salarytransparentstreet/">Instagram</a>, <a href="https://www.facebook.com/salarytransparentstreet">Facebook</a>, <a href="https://www.youtube.com/salarytransparentstreet">YouTube </a>and <a href="https://www.linkedin.com/company/salarytransparentstreet/">LinkedIn </a>for daily pay transparency interviews and career news you can use!Subscribe to our <a href="https://salarytransparentstreet.beehiiv.com/subscribe">weekly newsletter</a> for news updates, professional deep dives, learning opportunities, and more!Send us an email ➡️ hello@salarytransparentstreet.com

green image with background image and title text overlay

geen image with background image and title text overlay

Stay Transparent