👋🏻 Jacob here.
Have you ever felt boxed in by salary ranges during negotiations? You’re not alone.
This week, we’re exploring why compensation ranges are a creativity killer for top-tier executives.
Too often, I see brilliant executives settling for “good enough” offers because they trap themselves in the mindset of predefined salary brackets. Or they decide to negotiate for a random percentile on a public comp study.
Why is this okay?
- Are you getting what you’re worth or an average of what everyone else is worth?
- Are these ranges limiting your problem-solving abilities in crafting your compensation package?
- Are you letting arbitrary numbers dictate your career trajectory?
Sticking to predetermined ranges is misguided and potentially devastating to one’s career trajectory.
Let’s cut the bullshit: Salary ranges are creativity killers.
When you ditch the numbers game, you open the door to unlimited possibilities through creative negotiation. No range means no limits on your worth or your imagination.
Create untapped value? Get untapped upside. That makes sense.
It’s time to stop playing in their sandbox and start building your own.
When you start negotiating within a ranged box, you’re not just making a poorly negotiated deal but setting the stage for a world of pain for you and your potential employer when you undoubtedly feel the strain of a value mismatch.
Nobody wins.
It’s crucial to break free from these constraints and not let predefined ranges sway your decisions.
Instead, you should seek opportunities to get creative, collaborate, and craft a multi-seven-figure compensation package that goes beyond the standard playbook.
When in doubt, try the line, “This is an excellent offer—is there anything we can do to make it better for both of us?”
You’ve got the skills and experience, so why would you give that up to adhere to arbitrary ranges?
If you need more confidence in your negotiation skills, it’s time to reassess.
Why are you selling yourself short?
- Do you have a clear understanding of your market value? How can you be so sure?
- What could you do to position yourself in negotiations better?
- Can you afford to walk away from a subpar offer? Why or why not?
Consider the example of an executive who accepts a “market rate” offer without pushing back. They don’t explore creative compensation structures because they fear seeming greedy or unreasonable.
Many fall into this rookie mistake, and sometimes, it feels safer to stay within the lines. You’re negotiating from a position of weakness, swayed mainly by fear and conformity.
Remember, how you say it is more important than what you say. Get more comfortable navigating the uncomfortable.
In many cases, accepting predefined ranges is a surefire path to undervaluing yourself and your contributions.
And let’s remember that scope creep can also happen in hiring processes.
Don’t let this happen to you.
Stand your ground, know your worth, and don’t let anyone pressure you into a mediocre package simply because it fits neatly into their spreadsheet.
Stay fearless, friends.
See you next week.