How to Negotiate Salary at a Startup
Working for a startup company can be exciting. It allows you to make a big splash in the career path you have chosen. And while the work may be rewarding, startups rarely can afford large salaries. It is up to you to evaluate all the pluses and minuses of a startup opportunity.
Along with the difference you may be able to meet in a startup situation, you must also consider how much, or little, you can afford to work for now, versus how much you may be able to earn moving forward into the future.
Negotiating a salary anytime can be tricky. But, there is even more of a fine line in how to . There may not be a lot of cash flow available for salaries. It is up to you to weigh the advantages for yourself and consider when and how you may be able to renegotiate your salary.
How to Negotiate Your Salary With a Startup
Understanding that a startup does not have the financial capital that a well-established company may have, you have to weigh the pros and cons for yourself when negotiating salary. Included in your considerations should be:
|Meet at least the minimum salary||The minimum salary you need to meet your financial needs now and in the short term.|
|Confirm all the benefits and perks||Understand what compensation you will receive and how that fits into your financial picture, i.e. health insurance, mileage if your job entails driving, and other perks.|
|Set the time frame||Determine a timeframe in which you will need a raise to meet your needs and goals for the future.|
Analyzing what your needs are versus your desire to work for this particular startup will go a long way in your decision-making. Now it is time to negotiate whether by email or in person.
When Should You Expect a Raise?
Every company is different. Sometimes the boss will just go along with day-to-day work and be oblivious to how long you have worked for the company. Other bosses, and certainly human resource departments, are very aware of their employees and how much they should be earning versus what they have been able to afford to pay them. So, when should you ask for a raise?
At Least Once a Year
In a nutshell, even startup companies should offer their employees a raise once a year. New hire salaries could be re-evaluated within three to six months. If you haven't been offered a raise in six months to a year, consider asking for one.
Inflation Affects Everyone
Many companies have a policy of looking at how inflation is affecting their employees. With this in mind, even a startup may offer a raised percentage to all employees at one time to keep up with inflation.
In Recognition of Your Work
Startups may ask a lot from their employees.
- Taking on additional tasks and roles
- Furthering your education for possible promotions
As such, you should be compensated when the company can afford it. Sometimes this may come as a bonus. But it could also generate a larger salary.
The Market Pay For Your Job Is Higher Than You Are Being Paid
Even in a startup, your boss cannot expect you to work longer without proper compensation. Keep track of the market value of your position and when the opportunity presents itself, discuss it with your boss.
You Continually Promote the Company
Whether it is a public function in which your company participates and you show up to help, or your use of social media, you routinely tout praises for the company for which you work. It shows you are a fan. In case someone should forget, you should document your participation so when it comes time to negotiate your salary, your diary will support your request.
Getting Help to Negotiate Your Salary With DoNotPay
There are a lot of things to evaluate when considering how much of a raise to ask for. You could try to figure this all out yourself, or you could simply use DoNotPay and let it do much of the work for you and help you get the raise you deserve.
- Search "negotiate my salary" on DoNotPay.
- Enter the name of your company and the industry you work in, so we can find the right wage statistics for your role.
- Answer a series of questions regarding your qualifications and achievements, relocation expenses, and other job offers if applicable.
- Enter the new base salary you would like to request.
DoNotPay Will Help Negotiate Your Salary in Any Situation
Whether you want to ask for a raise while working for a startup or in any situation, DoNotPay can help. With the help of the app, you can:
- Determine whether now is the best time to negotiate your salary
- Ask for a raise in person
- Negotiate your salary over the phone
- Ask for a raise by email
But, DoNotPay can help with far more than .
DoNotPay Is More Than a Salary Consultant
The DoNotPay app will help you:
- Fight workplace discrimination
- Get you a refund or chargeback
- Cancel unused subscriptions and services
And much, much more. Just scroll down the list of all the things DoNotPay does for people just like you and all for one monthly fee. Then join and see what you have been missing. Try it today!