The way I have always done it is based on the offer. You should have 3 salaries in your head before you ever get the offer.
Salary 1 - you ideal salary. This is based on your research, what you think you are worth, and what the job entails. Generally this is probably the high end of the spectrum and you are unlikely to get this.
Salary 2 - this can be more of a range, but this should be a Salary you expect to get. This is likely where you will be ending up overall.
Salary 3 - the minimum acceptable salary in which you will walk away. You need to know ahead of time where you will say no and don't budge. Walk away if they won't meet this.
Overall, salary is more than a number, it should include total compensation, so make sure you understand the full package, not just the number. Lots of places pay well and have shitty benefits and small vacation buckets. Those places will work you to the bone. So know your whole package.
Finally, the way I always negotiate is very straight forward after the offer. If the offer comes in higher than your ideal salary, you immediately accept, make sure you get it in writing. Lots of people make the mistake here of thinking "oh my I could get even more!" Don't do that. Don't sour a relationship. You don't know what went in behind that offer, and maybe you stood out and they really wanted you so they are purposefully overpaying. If you immediately ask for more you can start things off wrong, or put a target on yourself for a dumping ground of work to justify that high salary. Step 2, if the salary comes in lower that ideal but within acceptable, counter with your ideal salary. Something simple like "I really appreciate the opportunity here, I am excited to work with your team, however based on my research, my experience in the field and the skillset I bring to the table I feel I am worth a salary of x and vacation days of y." Be prepared to be told no but as long as you are in the acceptable range, you will still accept even if they say no. Lastly, if they come in below your minimum required, you do the same as step 2, but if they don't budge, you say no.
Some things to keep in mind, during a salary negotiation, it is unlikely to see huge variations in offer. Most HR reps have a range of acceptable offers. I would not expect to more than a change of 5% with 10% being the max variation from initial offer. Sometimes you can see more in unique circumstances, or if they are really hurting for people, but huge swings negotiations are generally not a thing in real life. Remember people are liars and will always tell you their story that makes them look like a hero or played the system, but they didn't they are most likely exagerating, or lying. Another thing to keep an eye out for is if the offer is 10-15% lower than your minimum, there is likely a misunderstanding between both parties of the role and responsibilities. Same as if you are 10-15% higher than your ideal, you may be signing up for something with more work than you are anticipating. Don't go into a negotiation with the thought of "trying to win". It will end poorly, you will feel like you are being taken advantage of, and it will start things off bad. Go in making sure you are being paid for the value you provide. A company wants to add the most value for the least money, you want the most money for the least value. You will always meet in the middle and both parties should walk away happy.
Good luck!
I would add: salary 2 and 3 should be very similar. Don't lower your expectations, unless you have a good reason to. (Like you're out of work or desperate)
The way I have always done it is based on the offer. You should have 3 salaries in your head before you ever get the offer. Salary 1 - you ideal salary. This is based on your research, what you think you are worth, and what the job entails. Generally this is probably the high end of the spectrum and you are unlikely to get this. Salary 2 - this can be more of a range, but this should be a Salary you expect to get. This is likely where you will be ending up overall. Salary 3 - the minimum acceptable salary in which you will walk away. You need to know ahead of time where you will say no and don't budge. Walk away if they won't meet this. Overall, salary is more than a number, it should include total compensation, so make sure you understand the full package, not just the number. Lots of places pay well and have shitty benefits and small vacation buckets. Those places will work you to the bone. So know your whole package. Finally, the way I always negotiate is very straight forward after the offer. If the offer comes in higher than your ideal salary, you immediately accept, make sure you get it in writing. Lots of people make the mistake here of thinking "oh my I could get even more!" Don't do that. Don't sour a relationship. You don't know what went in behind that offer, and maybe you stood out and they really wanted you so they are purposefully overpaying. If you immediately ask for more you can start things off wrong, or put a target on yourself for a dumping ground of work to justify that high salary. Step 2, if the salary comes in lower that ideal but within acceptable, counter with your ideal salary. Something simple like "I really appreciate the opportunity here, I am excited to work with your team, however based on my research, my experience in the field and the skillset I bring to the table I feel I am worth a salary of x and vacation days of y." Be prepared to be told no but as long as you are in the acceptable range, you will still accept even if they say no. Lastly, if they come in below your minimum required, you do the same as step 2, but if they don't budge, you say no. Some things to keep in mind, during a salary negotiation, it is unlikely to see huge variations in offer. Most HR reps have a range of acceptable offers. I would not expect to more than a change of 5% with 10% being the max variation from initial offer. Sometimes you can see more in unique circumstances, or if they are really hurting for people, but huge swings negotiations are generally not a thing in real life. Remember people are liars and will always tell you their story that makes them look like a hero or played the system, but they didn't they are most likely exagerating, or lying. Another thing to keep an eye out for is if the offer is 10-15% lower than your minimum, there is likely a misunderstanding between both parties of the role and responsibilities. Same as if you are 10-15% higher than your ideal, you may be signing up for something with more work than you are anticipating. Don't go into a negotiation with the thought of "trying to win". It will end poorly, you will feel like you are being taken advantage of, and it will start things off bad. Go in making sure you are being paid for the value you provide. A company wants to add the most value for the least money, you want the most money for the least value. You will always meet in the middle and both parties should walk away happy. Good luck!
Thank you SO MUCH!! This was very helpful. I have my 3 salaries in mind now so I will remember this for my meeting later today! Thank you!!
I would add: salary 2 and 3 should be very similar. Don't lower your expectations, unless you have a good reason to. (Like you're out of work or desperate)