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by dustingetz 5475 days ago
things that determine your salary: 1) perceived value of your contributions 2) how much you could make if you left, weighted by the chance that you actually leave

even if boss's perceived value of you is really high, if you don't have the external credibility to actually get another job at the salary you seek, you don't have much bargaining power.

1 comments

I know there's not some algorithm to determining my salary, but is there a rule of thumb for figuring it out.

Would an average of 1 & 2 result in a good valuation? I can figure out the value of my contribution almost to a T with some things, but there are other things that are a little harder to put a definite value to, i.e the copy I write for our websites.

I want to come into the meeting with research at the ready. And, thanks for bringing up the external credibility aspect. I didn't consider that, so I will have to factor that into everything.

well, your self-valuation is 2, and your bosses valuation of you is 1. unfortunately, economics dictates that only your bosses valuation matters. willingness and ability to quit for another job is how you shift the economics in your favor.

if i was your boss, i'd offer you 1, with just enough padding to keep your morale up. However, as you continue to grow, your external credibility increases, which should grow your salary rapidly towards your true value.

how did it go?

You need to apply for jobs at other companies first.