Candidate: Ahmad, I just got an offer –– how do I get a 20% market raise? My buddies in my office told me I wasn't market....I want to make $96,000 a year.
Ahmad: Market isn't what you are worth or what your buddies think you are worth. Market is the compensation paid to a profile like yours at your current experience level from employers in your industry and region.
Candidate: Then, how do I calculate my raise?
Ahmad: You take your total current compensation at $80,000 and divide it by 2040 hours (Average hours a US worker works a year)... that's your current value at $39.22 an hour. Now for you to get a 20% raise to $96,000, your ask will have to be $7.84 more an hour.
Candidate: That is a 19.99% increase! Exactly what I wanted, Ahmad!
Ahmad: Hold on there tiger....didn't you tell me that there is a two-hour daily commute? And you work ten hours more a week at the new job?
Candidate: Yes
Ahmad: That's 960 extra hours you are working and driving a year. It costs you $37,651 a year in time if you multiply it by your current employer's hourly wage we calculated.
Candidate: Wow. My time is more valuable than I thought. I negotiated the offer to $115,000, and they said yes!
Ahmad: Congrats!
Focus on time!
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Candidate: Ahmad, I just got an offer –– how do I get a 20% market raise? My buddies in my office told me I wasn't market....I want to make $96,000 a year.
Ahmad: Market isn't what you are worth or what your buddies think you are worth. Market is the compensation paid to a profile like yours at your current experience level from employers in your industry and region.
Candidate: Then, how do I calculate my raise?
Ahmad: You take your total current compensation at $80,000 and divide it by 2040 hours (Average hours a US worker works a year)... that's your current value at $39.22 an hour. Now for you to get a 20% raise to $96,000, your ask will have to be $7.84 more an hour.
Candidate: That is a 19.99% increase! Exactly what I wanted, Ahmad!
Ahmad: Hold on there tiger....didn't you tell me that there is a two-hour daily commute? And you work ten hours more a week at the new job?
Candidate: Yes
Ahmad: That's 960 extra hours you are working and driving a year. It costs you $37,651 a year in time if you multiply it by your current employer's hourly wage we calculated.
Candidate: Wow. My time is more valuable than I thought. I negotiated the offer to $115,000, and they said yes!
Ahmad: Congrats!
Focus on time!