What’s your number?

When you are anticipating a career move, knowing the salary you want in exchange for your time and talent, is essential. Not knowing can create a costly mess. A coaching client found herself at a huge disadvantage when she began interviewing for a new job without knowing her number. The final offer came in $10K less than she expected. Here’s how regrouped and got the salary she deserved. 

The Ups and Downs of Salary
Cora had been steadily moving up in her career, enjoying a high profile, high salaried position in healthcare. When a family emergency struck, she switched to a more flexible job that came with a much smaller paycheck. By the fall of 2021, she re-entered the job market and made a tactical mistake. She targeted jobs with a salary that was a bit higher than her interim job yet significantly lower than her salary in 2018. Why? She didn’t know how to explain the ups and downs in her salary history. 

“Money is not just about finances, it’s about emotions,” says financial expert, Suzie Orman. “Fear, shame, and anger are the most common emotions surrounding money.” 

Making Change Happen
Cora wasn’t making progress and reached out for coaching which empowered her to see her situation from a different perspective and face her fears about money. She challenged her beliefs and hired a professional financial planner who helped her map out a 14-year path to retirement. Clarity about her financial future bolstered her confidence and she started applying for jobs where the role and responsibilities, plus the salary, aligned with where she was in 2018 - and then some. 

As most organizations aren’t transparent about salary ranges for open positions, Cora prepped for interviews by checking online sources, talking to people in her network and gathering competitive salary information. She was prepared to propose a salary range, when asked, where the lowest number was the minimum she’d accept, and the maximum was thousands of dollars higher. She expected to get offers somewhere in the middle. 

Cora’s opportunity with Company A was doomed from the start. Blind to the danger, she honestly answered the question, “what’s your salary expectation” during the screening interview before she fully understood the elements and expectations of the role. It’s a common mistake, as Josh Dooty explains, “Salary expectations and history are two of the things you know, that the (hiring) company doesn’t, and that makes them extremely valuable. Sharing them can make your salary negotiations very difficult and even cost you a lot of money.” Before your next job interview, tailor the scripts he presents in The Dreaded Salary Question.

She said yes.
Cora’s enthusiasm for making a real impact at Company A was dashed the minute she received their offer and saw that the salary was more than $10K less than she expected. She countered the offer and waited for their reply. Meanwhile, she was actively interviewing with other organizations. She wrapped-up interviews with Company B and received an offer that was near the top of her range. She said yes. 

This new opportunity moves her in a new career direction within an organization she admires, and that appreciates her value. Optimistic that her salary will steadily increase over the next few years, she will stay on track for her financially secure and stress-free retirement.

Anticipating a career switch?
Coaching helps! Schedule a free, no-obligation coaching session today: www.calendly.com/NancyMcCabe

You’re Hired! is a series featuring career transformation stories.