An employee has shared how she was able to successfully negotiate with bosses to receive a salary worth $500,000, the equivalent of around £396,000.
Growing up in the Bay Area in Los Angeles, California, Amy entered the job market after graduating from UC Berkeley in 2016.
The graduate found herself working in a product management position at a global software company.
When it came to her first salary negotiation, the offer fell short of Amy’s expectations and she decided to take action.
Speaking to Marketwatch, the 28-year-old discussed how she managed to raise her salary to $500,000 (£396,150).
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She explained: “My manager was like, ‘Congrats, you get a three percent raise. I thought is this what working life is going to be about?
“I did some homework and came back to have a conversation in terms of what my market value was.
“Where else could I go in order to get a higher pay, and then try to justify where my skills are valuable to the company.”
According to Amy, workers should find out when their company gives annual pay rises so they can determine their worth two months before negotiating with a boss.
Furthermore, employees must also be prepared to go elsewhere for a higher salary so should be aware of alternatives to their current role.
For Amy, a major pay rise would not be awarded to her until 2018 when she joined a tech company for around $200,000 (£158,460).
Two years later, she received an offer from another tech company for around double that amount, as well as stock options.
The following year, Amy was able to negotiate her way to a $500,000 (£396,150) salary with the company recognising her worth.
According to Amy, benefits can be a useful way to get what you want during a pay negotiation with a boss.
She added: “I do think you vet their [the company] culture. What is their PTO [paid time off] policy? What is their sick policy? Maternity leave? All those things are part of your compensation as well.
“It’s just focusing on not just the number but making sure you have time outside of work to do what you want.”
Due to shifting priorities, Amy left her job in 2021 and took on another position the following year albeit for a lower salary.
This was to spend more time with her family and also manage her growing real estate portfolio.
She said: “When the pandemic hit, I was also trying to go home to Los Angeles quite often with my family and all these things just kind of came crashing together.
“I need more freedom in my life. How am I going to do it? I tried a lot of different things, including Etsy and Amazon and realised that real estate was actually probably the most impactful one.
“In 2021, I bought my first long-term rental out of state. I still haven’t seen this house. I don’t know what it looks like. I hope it’s actually there but I’m getting rent every month.”