3 salary negotiation myths, debunked

Did somebody say Mythbusters?

May 28, 2024

Hey there! Just call us Mia Thermopolis from ‘The Princess Diaries,’ because the Salary Transparent Street newsletter is getting a glow-up.

That’s right. We’re switching things around to help you discover your earning potential and get paid what you deserve. 

Here’s how: Every Tuesday, we’ll share resources to help you navigate the working world—think: Lists of the fastest growing jobs, detailed salary negotiation tips, up-to-date market research guides, and so 👏 much 👏 more 👏. 

We’re so excited to get this into your hands. Let’s get to it! 

P.S. Don’t worry, we’re still covering the news. Scroll down to Word on the Street to find the latest happenings in the job economy.

Three Salary Negotiation Myths, Debunked

I remember getting my first job offer like it was yesterday: $40,000 as a Sales Development Representative.

I knew I should be making more than what was offered, but I convinced myself “I shouldn’t get greedy” and “I don’t want to be difficult.” The result? I didn’t negotiate at all.

A few years later, I accepted a job as a Senior Data Analyst…but I didn’t negotiate that job offer, either. This was a big mistake. That role ended up underpaying me by $25,000.

Those who don’t negotiate their salary early in their careers can lose anywhere from $1 million to $1.5 million in lifetime earnings. 

So, what’s holding us back from negotiating?

The answer: Negotiation myths. Time for some myth-busting!

 1   💸 You’ll lose a job offer by negotiating salary

Why the myth exists: You’re scared your employer will see you as “overly demanding” and change their mind about hiring you.

Let’s debunk: An employer’s first offer is seldom their best. Why? They expect you to negotiate.

If they withdraw your offer for negotiating (and this rarely happens), it’s not because you were too demanding—it’s a sign of poor company culture.

 2   🙅 Don’t mention pay too early in the interview process

Why the myth exists: You’re worried it’ll make you seem more focused on money than the job. 

Let’s debunk: Discussing pay early benefits both parties. It prevents you (and your potential employer) from wasting time interviewing—only to discover a huge pay expectation mismatch.

Plus, it demonstrates that you’ve done market research* and take your skills–and what you bring to the table–seriously. 

Unsure how to go about market research? We got you! Download our Market Research Guide here. 

 3   💰 The only thing you can negotiate is your salary

Why the myth exists: You think money is the only flexible element while benefits are set in stone. 

Let’s debunk: There are tons of benefits employers can offer besides pay (although sign-on and relocation bonuses are on the table, too)!

A later start date, work flexibility, stock options, and transportation reimbursement are just a few examples (here’s the full list).

Now that we’ve gotten a few of these myths out of the way, you’re in a better position to earn thousands more throughout your career. But there are additional myths we haven’t covered yet. 

Below are three statements: Two are myths and one is true. Can you guess which one is true? 

  1. Silence is a powerful negotiation tactic to put pressure on hiring managers. 

  2. You shouldn’t negotiate a salary beyond the salary range in the job listing. 

  3. If you’re younger, you have less negotiating power as you have less experience. 

Get the answers (and more busted myths) right here.

It was Memorial Day on Monday…so we’re passing the mic over to veterans. 🎤

In this episode of The Break Room, veterans are sharing what it’s like to be in a life-or-death career, the challenges they face when returning home, and if boot camp is really as intense as it seems.

And of course, they’re sharing their compensation. Speaking of…

…can you guess the starting salary for an Air Force Crew Chief Mechanic?

  • A. $30,000

  • B: $37,000

  • C: $45,000

• Minnesota is joining the transparency team. 🙌 Starting January 2025, Minnesota employers with over 30 employees will have to post the salary range or hourly wages. This will be key in closing Minnesota’s wage gap (women there earn 81 cents to every dollar a man makes). 

• File this under: News we love to see. The Biden administration just canceled $7.7 billion in student debt for 160,500 people, including public servants such as teachers, nurses, law enforcement officers, and more. 

 • The United Auto Workers (UAW) winning streak is over. In April, Volkswagen workers in Chattanooga, Tennessee, voted to join the UAW. But…Mercedes workers just voted against unionizing. Here’s why.

• The WSJ listed the highest-paid CEOs of 2023. What we found? CEO total compensation has outpaced US median annual income by 16,638% on average. Once you see these numbers, you can’t unsee it.

• Gen Z is ditching the diploma for the tool belt. Enrollment in trade and technical community colleges rose 16% last year, while two and four-year colleges saw enrollment declines. That’s not surprising considering there are dozens of trade jobs that pay $60,000 (or more) with low barriers to entry.

Thanks for being here! So, how did we do? Thoughts? Questions? Concerns? 

Let us know if you enjoyed this newsletter format and anything else you’d like to see from us. We’re here to help you learn (and especially earn) the most you can, the best we can. 💚

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