Full-stack developers experienced with marketing software like Adobe and Salesforce are in short supply. That talent shortage means you may have the advantage when it comes time to negotiate your salary.
According to a Stripe and Harris Poll survey, 61% of senior executives say the biggest threat facing their business today is a lack of developers. And 42% of them say they can’t keep up with evolving technology trends because they don’t have enough skilled engineers. However, despite the demand, most developers fail to negotiate the best deal possible. They are often scared of losing the opportunity, or they don’t know their worth in the marketplace.
How Much Are You Worth?
So, how do you know when to accept an offer and when to negotiate your salary to a higher level? Do you ask for non-salary benefits instead?
Our recruiters have worked with a lot of candidates and companies and we have compiled a list of tips that should help you with salary negotiations.
1. Do Lots of Research
Start by researching yourself. Seriously, Google your name. Does your LinkedIn profile come up? Is your name attached to any high-profile companies or projects? Do you see anything that might give hiring managers reason to pause?
If you have an established reputation in your field of expertise, your value just went up. Not having an online presence doesn’t mean much one way or the other, but negative publicity can lower your value. Don’t fool yourself into thinking it doesn’t matter. Hiring managers will look.
Next, you need to research the company. How are their Glassdoor reviews? Obviously, you want to work for a reputable company. However, companies with poor reviews probably have a hard time finding good candidates. That could mean that they have to pay more to get top talent.
Once you know a bit about the company, research the cost of living for that geographical area. Even if you plan to work remotely, the company will often base their offer on where they are located and not where you live. A business on the West Coast probably expects to pay more for top talent than a company in the Midwest.
Finally, ask a recruiter. We always recommend that top talent goes through a recruiter. Your recruiter will know a company’s history and how they compare to others. They will guide you during salary negotiations and help you get the highest wage and also non-wage benefits.
A recruiter only makes money if they successfully place a candidate, so it’s in their best interest to negotiate a fair and satisfactory deal for both parties.
Consider All Aspects of the Position
Consider these two scenarios:
Company A is a Fortune 500 company with multiple projects. They offer you a generous salary as a contract laborer for one year. There is no promise of ongoing work, but they mention that it might be a possibility.
Company B is a privately-owned, medium-sized business. They have struggled to find a good developer, so they have decided to hire a permanent employee. Their salary offer is 15% lower than Company A’s but it also includes benefits such as insurance, 401K matching, vacation pay, and yearly bonuses.
Which offer do you accept?
It all depends on your goals. You can’t get hung up on the idea that you are worth “more” than what Company B is offering. Direct hires usually don’t make as much as contract workers, but that’s compensated for with benefits and the promise of ongoing employment.
Once again, we suggest talking with a recruiter. TechBridge works with web architects, developers, and engineers. Their team knows how much money direct hires make vs contract employees. They can also help IT specialists negotiate “perks” in addition to salary.
Don’t Be Afraid to Walk Away
You do not have to accept the first offer. Most positions have a sliding scale. Based on your experience level and market demand, you can counter-offer. Even if they say “no,” they may come back with a compromise.
Don’t undervalue or over-value what you are worth. If you have done the research, you will know what is a good deal and what is not.
And make sure you speak with a recruiter! They are there to advocate for you.
How Can TechBridge Help You?
If you are a web developer, architect, or marketer who specializes in Adobe, Salesforce, Sitecore, or Magento, it only makes sense to work with someone who can help you negotiate your salary. Our goal is to bridge the gap between business and employee, matching qualified workers with the companies who need them. If you have any further questions or you’re ready to start the recruiting process, contact us today.