February 13th 2024.
NBC News recently reported on the impressive negotiation skills of Chanelle Howell, a 31-year-old recruiter from New York City. Drawing from her successful career at renowned companies like Goldman Sachs and Bridgewater Associates, Howell offers valuable advice to job seekers on how to use pay range information to their advantage in today's increasingly transparent job market.
With more and more states and jurisdictions implementing pay disclosure laws, job seekers now have access to the salary ranges for open positions. According to Howell, one powerful question to ask during a job interview is, "Can you tell me what separates a $100,000 candidate from a $150,000 candidate?" This prompts hiring managers to outline the criteria for determining compensation within a given range.
Howell's key advice is for candidates to use this information to their advantage by highlighting their skills and accomplishments that align with the higher end of the salary spectrum. By consistently emphasizing these qualities throughout the interview process, candidates can build a strong case for why they deserve a top-tier salary.
As negotiations progress, Howell's hacks suggest leveraging the information gathered during the interview. By using the hiring manager's own words, candidates can articulate why they are worth a higher salary and align themselves with the expectations set for top-paid candidates.
Even in areas where pay range disclosures are not required, Howell recommends referencing the growing trend of transparency and expressing a desire for similar openness. For example, candidates can say, "Given the new pay transparency laws, many companies are sharing pay ranges with candidates. Can you share the range for this role?"
Howell has seen success stories of individuals using this approach to negotiate significant increases in their initial offers. For instance, one of her marketing clients negotiated a 20% increase, resulting in a $15,000 to $20,000 boost, by effectively using her framework.
In cases where the salary range seems too broad, Howell suggests asking what sets a candidate at the top of the range apart. And if the initial offer falls short, candidates can inquire about median pay levels and ways to stand out within that framework.
It's important to remember that base pay is just one part of the overall compensation package. Howell encourages job seekers to also consider other elements like signing bonuses, performance-based bonuses, and equity during negotiations.
In a job market where wage growth has slowed since the pandemic, Howell's approach offers a strategic roadmap for candidates seeking fair and competitive compensation. By following her tips and using the power of pay range information, job seekers can negotiate for the most money possible and secure their financial future.
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