"Relying solely on market research to determine salary is often a waste of time, as companies frequently choose to pay differently than suggested data indicates. Each firm has its own philosophy and budget that can lead to varied compensation."
"The best strategy for negotiating salary is to secure another job offer, which provides a clearer understanding of one's market value. Having a specific number in mind can limit negotiation potential."
"Negotiations resemble a card game; you cannot see the other person's cards. The focus should be on playing your hand as effectively as possible, rather than trying to guess what others are doing."
Gerta Malaj, cofounder of YourNegotiations.com, emphasizes the importance of personal value in salary negotiations over market research. She highlights that companies often deviate from suggested salary data due to their unique philosophies and budgets. Malaj advises against having a fixed salary number in mind, suggesting that understanding one's market value through competing offers is more effective. She compares negotiations to a card game, where knowing the opponent's cards is impossible, and the focus should be on playing one's hand effectively.
Read at www.businessinsider.com
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