Negotiating Salary for Remote Work—Valuing Your Virtual Contributions

Negotiating your salary after getting a job offer can seem daunting. But it's important to remember the value of what you will bring to the company, even with a remote position. It's normal and expected to negotiate salary, and you don't want to join an organization wondering if you left money or benefits on the table.

Why Remote Workers Should Negotiate Salary

If you're inclined to accept what a company initially offers, you're not alone. According to a survey by Fidelity, 58% of young professionals accepted jobs without negotiating. However, those who did negotiate got at least some of what they asked for 87% of the time.

Having the courage to negotiate your strategy and the foresight to research what you're worth shows your potential employer that you are capable and confident. These are attributes that will benefit the company once you start working.

When you are happy with your compensation, you are more likely to be engaged, productive, and stay with the company. Low turnover and high productivity are fundamental to business success, so getting a fair market salary is a win-win.

Here are six tips for remote workers to successfully negotiate salary.

1. Evaluate Your Position in the Market

Successful salary negotiations are based on real-world data. The first step is to think realistically about where you stand in the job market.

How many years of experience do you bring? What education, skills, and certifications do you offer? How high is the cost of living in your location?

The answers to these questions help justify your desired salary during negotiations.

2. Research Comparable Salaries

You want your proposal to be grounded in what other people in similar positions are receiving. You can examine job postings for competitive companies or an authoritative website like ZipRecruiter or BLS to collect data.

Remember to keep in mind your experience, education, industry, location, and skills as you analyze comparable salaries. You want to compare apples to apples or adjust for differences in your skill level or geographic location.

3. Find Your Sweet Spot

If you come in too high and the hiring manager is talking with other equally qualified candidates, you may lose your traction. However, you may miss an opportunity if you come in too low. You want to start the negotiation with a number you're happy with but is justified by market data.

The company likely listed a salary range in their job description. If you ask for a number outside that range, you want to ensure you have exceptional or hard-to-find skills and robust data. Even so, they may opt for someone who accepts a salary within their budget.

4. Build Confidence Through Practice

Like you practice your interview questions, you want to craft and rehearse your pitch before delivering it. Organize your research along with details and examples of what you've accomplished in previous roles. Quantifiable examples are great if you have them.

You can include your years of experience, soft, hard, and remote skills, and how you can help drive the company forward. Practice sharing this information confidently since the employer is more likely to take you seriously if you believe in your worth.

5. Think Total Compensation

Salary is a significant factor, but other benefits and perks also make a difference. If you run into a dead end in your salary negotiations or your target salary is outside what they can or will pay, you can consider asking for other compensation.

Examples of other benefits and perks may include:

• Additional paid time off

• A technology stipend or one-time payment for office equipment and supplies

• A signing bonus

• Stock options or equity in the company

• 401(k) matching

The time to bring these up is when you are actively negotiating compensation after receiving your job offer.

6. Be Prepared to Walk Away (Graciously)

The hardest part of negotiation is understanding where to draw the line and to stick to it. If you truly cannot come to a satisfactory agreement that meets your minimum salary requirements or includes additional benefits that cover the difference, you may have to walk away.

While threatening to walk can be a negotiation tactic, it's not wise to decline the offer unless you genuinely cannot make the job work and are letting it go. Chances are, they are talking to other candidates.

Either way, both you and the employer have invested a lot of time and effort in the process. Graciously declining while expressing your gratitude leaves them with a positive impression of you and keeps the door open for future opportunities.

Negotiating Salary Is Win-Win

Advocating for yourself can be hard, but it is a valuable skill to develop. The key is understanding that negotiating a fair salary is a win-win for you and the organization.

When you know you are getting paid what you're worth, the company gets a happy, engaged employee ready to step up and contribute. It's always better to ask than to wonder what could have been.