Newsletter: October 5

How to calculate my salary expectations? 👀

October 05, 2022

TECLA connects the best tech talent in Latin America with the best remote-ok technology companies in the U.S., Canada, and Europe. If you want to upgrade your career, keep reading!

So tell me...what's your expected salary?

  [Internal voices] If I said this number will it be too much? Or maybe it's too little and I'm selling myself short? Should I just shout a random number and say "but I'm open to negotiate"? 

  1. Research (with context).

With context, because salary varies between each country and city, it's important to have information rooted in your reality. There are a couple of ways you can gain access to these insights:

  • Using our country reports. The ranges are usually at the end of every report.

  • Asking your network: fellow colleagues, friends, mentors, and previous managers.

  • Browsing other similar roles that may not interest you but that do post the salary.

  2. Know your worth (by numbers).

List the qualities that make you a unique candidate. This includes soft and hard skills.If you have a hard time picking and choosing, keep track of the tasks and accomplishments you have done this last month. With your prior research and this mindful exercise of listing exactly what you do, it will be easier to come up with a number. Add to this equation your monthly expenses and savings expectations. That will provide you with a baseline.

  3. Give a salary range.

This is for you to be able to negotiate later on if your hiring process continues to be successful. Don't give a decisive figure when you are just starting with your interviews. Use a range defined by your research (quantitative data) + your worth as an IT professional (qualitative data). You will usually end up with a number in the middle or up, so make sure you set a realistic range. But that sometimes is not the case when you take into account other compensations the company may offer. So keep reading. ProTip: If this company is from the U.S. or Canada, they'll probably be looking at a salary range not per month but per year (so write down that figure also).

  4. Don't discard other types of compensation.

Remember that attractive PTO packages, health insurance, and education stipends are also ways that a company can compensate you. So keep that in mind, using point #2 as a blueprint to see if it fits your regular expenses. Once you give your salary range, do a follow-up question: "With that salary range stated, I would like to know in detail about your unlimited PTO policy/ generous education stipend/?" "If this fits my expectations, I am sure we can negotiate the expected salary." Most job descriptions either won't mention their compensation package, or they'll do so vaguely. It's important that you are left with numbers.

LIVE EVENT TOMORROW!

Join us tomorrow! Gino, Stephanie, and María José will share their best advice on how to negotiate your salary and answer your questions on the matter. See you there!

HOT JOBS OF THE WEEK:

Tomorrow: Women in tech - learning the foundation of programming

We have partnered with Le Wagon (online BootCamp) in this masterclass aimed at women in other industries looking to learn about programming. If you always had curiosity but never tried it, this is your chance! Join us tomorrow. REGISTER HEREShare it with a friend or colleague!

*This event will be held in Spanish.

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