How to negotiate salary when you're already overpaid/above market?

Say in a given position, given market, given size, given location, experience all things equal, the avg salary is 100-150k. This is data from not only internet (glassdoor etc) but also from recruiters and consultants. I am currently making say 170k. Overpaid, above market, fact. At my current company, how do I negotiate a raise? Obviously I want more money. However, I'm already at the top and any person I talk to (execs) are already saying I'm overpaid If I'm leaving my current company for another company, how do I negotiate a higher salary? Again, I tell the new company what I'm currently making, they say it's way above market and at best, they can match, but can't beat I'm strictly asking regarding salary, not so much other misc parts that can possibly make a comp package - benefits, stocks, options, etc etc

Comments

  • Tuah BaoTuah Bao subscriber Posts: 176 Silver Level Member

    Hi @rohit45

    The price is generally decided by market demand and supply. As you have said, you are already overpaid.

    To qualify the extra pay, you need to commit more (value-add) responsibility. If you are in the sales/marketing line, then tell them you can commit (eg) $500k sales per month, if you are in the accounting line, then tell them you can help them to save (eg) $1m operational expenses or taxes (or whatsoever) per year.

    There isn't free lunch, the objective of most companies are to make profit. You just have to tell them what benefits you can bring to them that outweigh the costs.

    Tuah Bao
    100+ done for you courses to immediately start running your own profitable e-learning business
    https://www.courseserious.com/


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