Are You Leaving Money on the Table? Here’s How to Find Out—and Fix It!

Let’s face it—discussing compensation with a hiring team can feel like tiptoeing through a minefield. There’s that lingering feeling that you’re breaching some unspoken rule by bringing it up too soon. I used to feel awkward sharing my salary expectations or even asking about the budget for the role I was eyeing. Maybe it was a bit of imposter syndrome at play, but looking back, I realize that being upfront about compensation actually made the whole process smoother. It quickly revealed whether a job was worth pursuing or if I should cut my losses early.

Thanks to new pay transparency laws, many states now require companies to post compensation ranges in their job listings. This is a massive win for job seekers—no more guessing games! But, unfortunately, not every state has jumped on the transparency bandwagon. What do you do when they don’t? 

In this article, we’ll dive into 6 tips on when and how to bring up compensation in those trickier situations.

1) Pick the Right Moment

Timing is everything in these conversations. If you jump in too soon, like during your first screening call, you risk coming off as pushy—and that’s a quick way to end up in the rejection pile.

In my experience, the best time to discuss compensation is when you know the interest is mutual. This usually happens during your second or third interview, once you’ve had a chance to learn more about the role and the company, and they’ve shown a strong interest in moving forward with you. The beauty of addressing compensation at this stage is that it saves both you and the company time. No one wants to get to the offer stage only to realize that the salary is way off from what you were expecting. 

2) Do Your Homework

Before you think about bringing up compensation, you need to do some digging. Understand what the market is paying for roles like the one you’re targeting. Look at factors like job demand, experience level, location, and company size—they all play a role in determining salary ranges!

By researching these elements, you can establish a solid idea of your “worth” in the industry. Once you have that baseline, compare your skills, experience, and qualifications to the job posting. This will help you set a realistic salary range for yourself, making it easier to determine if the company’s budget aligns with your expectations.

3) Lead with Curiosity and Positivity

When you do bring up compensation, start by asking the hiring team about their salary range and/or budget for the position. This way, you can gauge where your personal expectations align with theirs. I’ve seen candidates—strong candidates—miss out on thousands of dollars because they shared a number before understanding the company’s range. Don’t let that be you!

As you approach the conversation, keep it professional and positive-tone. Show that you’re excited about the opportunity and that you’re trying to get a clear picture of the compensation potential should things move forward. This shows that you’re serious about the opportunity.

4) Be Honest and Direct

Once the door is open, be clear about your salary expectations. 

If the salary range is lower than your expectations, take a moment to ask if there is anything else in their compensation package and benefits that relate to the role. If the total compensation package still feels lower than what you’re expecting, be honest but respectful. Kindly let the team know the package is lower than what you’re seeking, and determine how you’d like to move forward.

If the salary range is within or higher than your expectations, great! Make sure to take the same pause as above. Understand what else may be included in their compensation and benefits package that relates to the role. If the total compensation package is still within or higher than what you’re targeting, simply let the team know that the package is within the range you were seeking.

Pro-tip: Rather than share a specific number, offer a salary range—it shows you’re flexible and gives you room to negotiate later on.

5) Ask Questions—Lots of Them

I can’t stress this enough: don’t forget to discuss total compensation, not just the salary. 

There’s often more on the table—bonuses, stock options, benefits, retirement plans, and paid time off. Take the time to dig into the details of the full compensation package and find out where there’s flexibility. More paid time off, for example, could be more valuable to you than a bump in salary if the company is open to negotiating on that front.

Ask about growth opportunities—where could your compensation go in 1 year, 3years, or even 5 years if you perform well? What’s the company’s stance on promotions and career advancement? If you skip these questions, you might find yourself job hunting again sooner than you’d like.

Understand the company’s constraints - some organizations have strict policies they can’t bend. Spending the better part of our careers in Human Resources and Recruiting, we’ll be the first to tell you that some things just have red tape. Some companies may not be willing to negotiate up on salary due to a range cap, but may be willing to negotiate something like sign-on bonuses or stock options. Knowing where the company can’t be flexible will help you negotiate more effectively.

6) Prepare for Different Outcomes

Let’s be real—sometimes the offer comes in lower than you’d hoped. It’s disappointing, but it’s not necessarily a dealbreaker. Be ready to ask about flexibility and explain why you’re aiming for your desired range. Sometimes the company can sweeten the deal in other areas, but you won’t know unless you ask. And if you can’t reach a fair compromise, it’s okay to walk away. Your time and energy are valuable.

On the flip side, if the offer exceeds your expectations, stay cool. Express your appreciation and take a moment to ask questions about the rest of the benefits. Make sure the total compensation package aligns with your needs and career goals—because a high salary isn’t everything if other aspects are lacking.

Now let’s get to work!

In a nutshell, navigating compensation conversations doesn’t have to be daunting. Pick the right moment, do your homework, and lead with curiosity. By staying positive and asking the right questions, you’ll set yourself up for a win-win outcome with your potential employer.