Changing Salary Expectations

Question

Hi everyone,

Hope we're all doing well and staying safe.

About a week ago I had an interview (with say company A) and I think I shot myself in the foot. I was asked about compensation expectations and I just blurted out a figure (say $x), which was about my current salary (I'm grossly underpaid). I didn't realize until the figures had come out what I had said. I just received an offer (from say company B) which is $x * 2.2 (yes, I reeally shot myself in the foot...), but I really want to see company A's interview through because I like the work they do. At this point, it makes no sense for me to continue to let them think I'll accept $x, because I won't as I already have a much better offer from Company B. I think the prudent thing to do is to share a revised compensation expectation with Company A, but I’m nervous that I’ll seem wishy-washy. I have the final round interview for Company A in a week. Do I go through the interview and then disclose the revised salary expectations after, or do I disclose right away? Please share thoughts.

Thank you.

Answer 1

Oh boy, don't say a thing until they make an offer!

First, it would look extremely bad to start negotiating on your offer before you received it - do not do this!

Second, you don't even know what they will come back with.

Just wait. Don't count your eggs before they hatch. However, when/if they do make a final offer, you can absolutely say you received a 2.2x offer from another company BUT you really want to work for them...tell them if they can match/come close to that offer, you will sign on the dotted line.

Answer 2

Hi there,

It is okay to go back with a revised number, esp when you have an alternative that is much higher. They might not be able to match, but there could still be room for some upside.

I would suggest you go through the final interview first though. And disclose the changed expectation after you are done with the interview and going into the offer negotiation phase.

Best,

Emily

Answer 3

Hi Anonymous - what type of company is it?

Salary bands in MBB are pretty narrow and regardless of what you said / have been offered; room to negotiate is low

If it is a typical corporate role then perhaps reach out to your recruiter and discuss salary explicitly. Given you are in final rounds - it is not inappropriate / wishy washy to broach the topic now. In fact it is better because it shows you weren't prioritising money to start with rather this is about you getting a fair market value

Most importantly - don't blindside your interviewer with the topic right on the day!

Best

Answer 4

Hi there,

I agree with Emily, you should go first through the final, and then negotiate. It definitely won’t make a nice impression if you try to negotiate before even having an offer.

Once you have the offer, you can use the other one you received as leverage – and you can do that even if the initial proposal they will make is exactly your current salary.

I suggest you read Never split the difference by Chris Voss if you are interested to learn more about how to do that - excellent book on the topic.

Best,

Francesco

Answer 5

Hi,

First of all - are you sure you are comparing apples to apples? PE has carry component and I'm not sure if you can compare directly with an industry salary

Secondly - it's totally fine to tell them that you've provided your current salary, not the expected and that you have a much better offer. You are not losing anything here. Just mention that you really love the company, but have student debt, etc. that makes you pragmatic about the decision.

Best!

Answer 6

Dear A,

I fully understand you. I would recommend you to discuss it at the offer negotiation phase.

If you need some confidence, motivation or argumentation, feel free to reach out.

Best,
André

Answer 7

Hi there,

I would recommend you negotiate with HR after getting an offer from the company A. You can also add that you rethought the salary compensation and received an offer which is much higher.

Do you need any further help?

All the best,

GB