Discover more from Kareem’s Job Search Newsletter
How we got someone a 180K Comp Bump
Here's the easiest hack I've seen for increasing your compensation:
Move into the tech industry.
Here's why and how this works:
(For privacy reasons, we've changed details about the candidate, but the compensation increase and the concepts we use are accurate)
John was born in NYC and got into selling clothing in retail after graduating from College. He was promoted quickly into a sales manager role within a few years months of starting the job.
The problem is John was unhappy with how much he was making.
As an NYC resident, he was pulling in $45K which was barely enough to cover rent and child payments.
John knew he had the potential to make more, but negotiating with his current employer wasn't working.
Here's how we got John a $180K compensation increase.
A. We identified a role which creates more value for employers:
In order for you to land a role that pays $XXXK+ you need to create 5X more than that for your employer.
The problem with selling clothing is the contract values on clothing items are not high. Every customer you sell to, even in New York, is probably averaging $50 per spend. In tech sales however, contract values can be as high as $1MN+
B. We identified a role that John was good at:
This means you are likely to be able to deliver on the results needed to deliver on the value of that role.
Selling is a transferable skill-set and getting good at selling one product means you're likely to be good at selling another. This meant that John was likely to be good at selling technology products.
C. We identified a role a lot of people are hiring for:
The more a role is being hired for, the more companies you can interview with, which means you get more interview attempts, which means you are more likely to get a high quality and quantity of offers. There are several sales roles in tech.