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So just so I have a clear understanding. If the position itself on the listing itself says the salary range is 60-75k, the organization is likely not planning in any way to actually pay anyone 75k? Is that right?
The mid range would be $67.5k between the $60k-75k. It would be an extra $7.5k, if their preferred target beat a 2nd offer.
During the great recession of 2008, I was making $55k. I passed final interviews with 2 companies. I had an offer for $67k. I told the 2nd company of the offer, they beat it and offered me $75k.
It was a nice $20k jump from $50k done over a week.
I am unemployed right now. I had 2 offers lined up this week. Another one lined up next week, after the execs are back from vacation.
A former co-worker had 3 companies wanting to hire him. He got his preferred target to increase it 15%. These are $100k-$125k jobs.
If I followed your advice, I might still be making $55k + inflation today. I will continue to line up multiple offers to get the highest offer.
You didn't do your home work to know your worth to begin with. Who knows what else you left on the table by undervaluing yourself. Just because someone else offers more that doesn't mean you aren't worth more than that.
Let's be clear on what an offer is. An offer is something that occurs after you have interviewed with the company. Not them telling you what the salary is on the phone or e-mail, that's not an offer. I want to make this clear, because many times people will say, "We just moved to town and my wife got 5 job offers". It usually takes from the time a job is advertised 6-8 weeks before they contact you. I'm talking about jobs paying $100K+. Applying and interviewing with 2 or 3 rounds for three different companies and expecting all that to land together so you can comparison shop simply isn't a wise or realistic effort. You need to do your homework on the companies, know your industry, know what they pay, know your worth and make your case that way to the best employer. That's how it is done successfully. You are unemployed now, are you expecting to stay unemployed before you take your next job unless you have simultaneous offers lined up? You have to think of the money you are losing by not working wasting effort like that. I don't know what industry you are working in, but in 2019 employers take much longer to fill a job.
You didn't do your home work to know your worth to begin with. Who knows what else you left on the table by undervaluing yourself. Just because someone else offers more that doesn't mean you aren't worth more than that.
Let's be clear on what an offer is. An offer is something that occurs after you have interviewed with the company. Not them telling you what the salary is on the phone or e-mail, that's not an offer. I want to make this clear, because many times people will say, "We just moved to town and my wife got 5 job offers". It usually takes from the time a job is advertised 6-8 weeks before they contact you. I'm talking about jobs paying $100K+. Applying and interviewing with 2 or 3 rounds for three different companies and expecting all that to land together so you can comparison shop simply isn't a wise or realistic effort. You need to do your homework on the companies, know your industry, know what they pay, know your worth and make your case that way to the best employer. That's how it is done successfully. You are unemployed now, are you expecting to stay unemployed before you take your next job unless you have simultaneous offers lined up? You have to think of the money you are losing by not working wasting effort like that. I don't know what industry you are working in, but in 2019 employers take much longer to fill a job.
For my job search for the past month, I completed the HR screen and 2-3 rounds of interviews with the team and managers. The hiring manager has instructed HR to extend me an offer. We are in the salary negotiation phase.
I completed 4 rounds with one employer, 2 rounds with another employer, 2 rounds with the last employer, 2 rounds with another employer. I did all of that within 4 weeks.
The 2nd-4th employers had interviews within 2-3 days of the HR screen. They asked if I was in the final stages of interviewing with anybody else. I said yes. They arranged for the 2nd round within 3 business days.
The recruiters called me back, two days after the 2nd of interviews. Ultimately, I opted with the first option.
I still have another offer being extended. The hiring manager wants to extend me the offer, but they had to wait 3 weeks from their initial post date to give the recruiter their final decision. It was some kind of HR policy. It was a higher level role that required a few more years experience.
Three of the companies were Fortune 100. The 4th company was a Fortune 500, but it was a different industry that paid less.
I am still unemployed. I already accepted one of the 4 offers, but I still have to go through the drug screen, background check, photo for ID badge, etc. Start date is in a few weeks.
So just so I have a clear understanding. If the position itself on the listing itself says the salary range is 60-75k, the organization is likely not planning in any way to actually pay anyone 75k? Is that right?
They would like to pay in the middle, but it is your job to ask for more and justify it. With your experience, if I were you I'd ask for $75K or more. Meanwhile, you should do some math to compare this so you have a total picture.
You said you are a W2 contractor billing for 30 hours a week grossing about $75K a year. 42.5 hours a week times 52 weeks a year is 2210 gross hours. Then subtract 8.5 (one day) for each paid vacation and holiday. Include sick days if they offer a fixed number of those. Or anything else, like they shutdown 2 weeks at the end of the year, etc.
Let's say they offer 3 weeks vacation, paid holidays that's (15 days + 11 holidays) = 1989 hours. Take your W2 hourly rate and multiple it by whatever number of hours you come up with, which might not be 1989 for this specific job.
You mentioned you make just under $75K doing contract work. Does that mean your W2 hourly pay is $40.00 an hour? If so...
W2 hourly rate: $40.00
Full-time hours worked at prospective job a year: 1989
Total gross pay: $79,560.00
Then you have to look at health insurance costs difference, 401(k) matching, bonus and other tangible pluses to add. Put a dollar value on that. Insurance costs can from some employers might only be $500.00 a month where another costs you over twice that or more. So I'd ask about that from HR now.
Are there other factors in accepting this job even for $75K as a base salary? You feel it will be much longer term? You feel this will help your career? Shorter commute? Making you feel less stressful?
What is the market rate if you got another W2 contract? Would you be able to get an increase or you are at the top of that rate now? How much longer can you stay contracting where you are? Things to consider.
They would like to pay in the middle, but it is your job to ask for more and justify it. With your experience, if I were you I'd ask for $75K or more. Meanwhile, you should do some math to compare this so you have a total picture.
You said you are a W2 contractor billing for 30 hours a week grossing about $75K a year. 42.5 hours a week times 52 weeks a year is 2210 gross hours. Then subtract 8.5 (one day) for each paid vacation and holiday. Include sick days if they offer a fixed number of those. Or anything else, like they shutdown 2 weeks at the end of the year, etc.
Let's say they offer 3 weeks vacation, paid holidays that's (15 days + 11 holidays) = 1989 hours. Take your W2 hourly rate and multiple it by whatever number of hours you come up with, which might not be 1989 for this specific job.
You mentioned you make just under $75K doing contract work. Does that mean your W2 hourly pay is $40.00 an hour? If so...
W2 hourly rate: $40.00
Full-time hours worked at prospective job a year: 1989
Total gross pay: $79,560.00
Then you have to look at health insurance costs difference, 401(k) matching, bonus and other tangible pluses to add. Put a dollar value on that. Insurance costs can from some employers might only be $500.00 a month where another costs you over twice that or more. So I'd ask about that from HR now.
Are there other factors in accepting this job even for $75K as a base salary? You feel it will be much longer term? You feel this will help your career? Shorter commute? Making you feel less stressful?
What is the market rate if you got another W2 contract? Would you be able to get an increase or you are at the top of that rate now? How much longer can you stay contracting where you are? Things to consider.
This is all very helpful. Thank you. The position will have 401k with some sort of match. I don't particularly care about the health benefits as we are covered under my husband's plan. I realize that is a benefit, just not one that is a factor for me. My work with 2 of the companies is pretty stable and the other one will run out in a little over a year from now and I'll need to find something to replace that. The new position is a good career move. I can potentially earn raises from one of the two remaining companies but not likely the other. The new job would be much much more stressful on our family, but it feels like challenging and important work. Right now I don't work on a fixed schedule and I work from home. That has made life very easy for us logistically speaking. I'm torn if the pay is 75k, if it's below that, I won't take it.
I actually wasn't looking. I met the director to talk about something related to his school and he told me about the position and asked me to apply.
That's the best position to be in. Go high and wish you the best! Please let us know how it goes.
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