Project Management Salaries: Understanding Negotiation Strategies for Every Level
April is all about financial literacy in the Women of Project Management community. We absolutely love receiving salary history stories and sharing them anonymously with our community. Salary transparency among peers is so valuable as it gives you the opportunity to go into negotiations with somewhat of a baseline along with other factors that I will mention below.
Project managers have the opportunity to work in various industries that often require a diverse set of skills. The primary skillsets are planning, communication, problem-solving, organization, and leadership to name a few. However, with time and experience, you learn different tricks of the trade that a less experienced project manager may still need to develop.
All of this comes to play when understanding negotiation strategies for project management roles.
Entry-level negotiation strategies for project management roles
Confidence is key as an entry-level project management professional. Pair that confidence with all that you’ve learned in your studies will take you very far. Be sure to go into negotiation prepared and sure of your abilities to perform in the role you’re applying for.
Always research industry standards for the role and be realistic about what you’re asking. Consider if the organization is in the private or public sector as well as the industry and type of projects you’ll be working on. All of that plays an important role in how you can negotiate your salary. There may be a little more room to negotiate in the private sector than in the public sector.
When the conversation about salary comes up, keep a positive attitude and be open-minded about the total compensation of the role. Highlight your transferable skills, textbook knowledge, and your desire to and drive to do well in the role.
Mid to Senior-level negotiation strategies for project management roles
By the time you’re at a mid or senior-level in project management, you already have many projects under your belt. I’ve had many interviews and salary discussions where the employer wants to know about specific project-related challenges and accomplishments; having unique experiences will set you apart and ultimately makes your skillset more valuable. This is a huge win when it comes to negotiating your salary. Make sure your brag sheet is kept up to date!
Actively listen to the needs of the employer and then help them understand the ways you can help to provide solutions.
Most importantly, go into salary negotiations knowing your market value. Use that as the baseline and really drill it in how you would be the ideal candidate for the position.
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By, Airess Rembert, PMP, Member of Women Of Project Management & Blogger at The Nerd Bae
