Introducing the Comp Target Triple™: A Revolutionary Approach to Compensation
The Compensation Strategy Most Candidates Get Wrong (and How to Get it Right)
Hello, my sweet friends!
Let's be honest.
Compensation is one of the most commonly confused and misused topics in ANY job search.
I've seen it all:
Candidates undersell themselves
Candidates overshoot their ask
Candidates generally feel lost and uncertain when it comes to discussing pay
And I get it! It can be a tricky conversation.
But it doesn't have to be!
That's why I created the powerful framework called the Comp Target Triple™ – a game-changing compensation strategy that empowers YOU to take the reins and get the salary you deserve.
Think Three
It's the secret to getting paid what you're worth in the market today.
But here's the thing - most people get it completely wrong.
They focus on ONE number. This is a big mistake.
Instead, I will show you the THREE numbers you need to unlock your actual earning potential. This is how you take control and walk away with an offer you're thrilled about.
What is the Comp Target Triple™?
It's a simple yet effective method for communicating your compensation expectations clearly and strategically.
It involves providing three key numbers:
Your Minimum: This is the absolute lowest salary you're willing to accept. It's your non-negotiable bottom line.
Your Target Range Minimum: This is the lower end of your ideal salary range.
Your Target Range Maximum: This is the upper end of your ideal salary range.
So, together, it combines:
One minimum number (your Minimum number)
&
Two numbers that make up your Target Range (your Target Range Minimum - Target Range Maximum)
What Does a Comp Target Triple™ Look Like?
I’m so glad you asked!
I’ve created this infographic to better illustrate what an example Comp Target Triple™ looks like:
🔢 How to Calculate Your Comp Target Triple™
Your Minimum (which includes one number): This is the absolute lowest reasonable salary you're willing to accept.
This is not to lowball yourself. Instead, it’s to think about how much you’re reasonably making now (or recently made in your last job) and how much you would be willing to consider at a new company and job. Do you have any flexibility?
This number should be non-negotiable. It's the bare minimum you need to feel comfortable taking the job.
To determine your Minimum, consider the following factors:
Your essential expenses (rent, bills, etc.)
Your desired standard of living
Your overall financial goals (saving, investing, etc.)
If you took a pay cut, how much would be feasible or reasonable?
What is the minimum you need to continue your lifestyle from a salary perspective?
💡Pro Tip: Your Minimum is different from your all-in minimum. I’ll be posting an article about this next, so be sure you’re subscribed so you’re notified when it goes live!
Your Target Range (which includes two numbers): This is the salary range you're realistically aiming for.
To determine your Candidate Target Range, consider the following factors:
Research market rates for similar roles. Look at salary surveys, job postings, and compensation research sites. It’s also great to talk to people in your field.
Consider the specific company and role. Some companies pay more than others, and some roles have a higher value.
Factor in your skills and experience. The more experience that is required (or preferred) in your next job (and that you also have) should mean that your target range should be at a higher premium.
Your final target range should have a minimum and a maximum:
Your Target Range Minimum number should be above your Minimum (from Step 1 above)
Your Target Range Maximum number should be a number you'd be thrilled to receive but is on the higher end of what you’ve seen is “average” or “typical”.
👉 Important Note: When determining your Target Range, consider the company's target range for the role (if it’s posted or you can find it). If they've shared it with you, make sure your range overlaps with theirs. If they haven't shared it yet, be prepared to ask for it during the compensation conversation.
Why is the Comp Target Triple™ so Powerful for Candidates?
This approach offers you a multitude of benefits:
Clarity and Confidence: No more guessing games or feeling unsure about how to discuss compensation.
The Comp Target Triple™ gives you a clear framework to articulate your expectations with confidence.
Maximize Your Earning Potential: By clearly stating your target range, you increase your chances of receiving an offer that reflects your true ask (and market worth).
Align Your Compensation Expectations with the Market: I’ll be honest; the job market is a wild adventure, and compensation is constantly changing. By doing your research and using the Comp Target Triple™, you ensure your ask is reasonable and at the top of the market as it relates to your skills and experience. Companies are always keeping their eye on what their competitors pay.
Now, you're speaking their language and using the same numbers they are, reducing the odds of getting rejected just because of your salary expectations.
💡Pro Tip: The two most powerful “proofs” a Company needs to approve a change in their role’s pay range are (1) what their ideal Candidate wants and (2) what the overall job market is paying for a similar role (aka their competition). This is how the Comp Target Triple™ truly supercharges the success of your ask!
Avoid Lowball Offers: Sharing your minimum protects you from being undervalued and ensures you're not settling for less than you deserve.
Improved Negotiation Position: The Comp Target Triple™ strengthens your negotiation position. You are seen more holistically by Recruiters and not easily rejected because you’re providing three numbers.
Protects your Most Valuable Resource…Time: As I always share, time is our most valuable resource (it cannot be duplicated, purchased, or “redone”). You should only be participating in interview processes with companies that are willing to meet you at your compensation ask (or if they can’t, this initial call is when it’s shared so you can move on to a company that does).
By aligning your compensation as early as possible in the process, you also are being respectful to the Recruiter, Hiring Manager, and the Hiring team! It’s a true win-win for everyone.
How to Implement the Comp Target Triple™
Do Your Research: Thoroughly research market rates for similar roles in your industry and location. Consider your experience, skills, and desired career trajectory.
Determine Your Numbers: Set a firm Minimum and outline your Target Range.
Communicate Clearly and Confidently: When discussing compensation, clearly articulate your Minimum and Target Range. Then, be prepared to ask to understand the target range for the role you’re interviewing for with the Recruiter (if it’s not already posted on the Job Posting itself).
The Comp Target Triple™ in Action
Let's say you're a Candidate interviewing for a Software Engineer role.
After conducting your research and aligning your skill sets and expertise with the market, you determine the following:
Your Minimum: $120,000
Your Target Range: $130,000 - $150,000
During your conversation with the Recruiter, you might say something like:
Recruiter: What I’d love to discuss next are your compensation expectations. Can you share with me what you are expecting as far as salary?
You: Absolutely, I’m happy to discuss compensation. Just a brief note: I took a peek at the Job Posting and it looks like it doesn’t share what y’alls Target Range for pay is for this position. I’m happy to share my expectations first and then hear more about the role’s Target Range. Or, if you’d like to share the role’s Target Range first, I’m happy to share mine following. Which do you prefer?
Recruiter: Oh, yes, I can share that with you. If you want to share with me your numbers first that would be great.
You: Of course! I'm excited about this opportunity, and based on my research and experience, my Minimum salary requirement is $120,000. But ideally, my Target Range is $130,000 to $150,000. Is that in the ballpark of what y’all have established for the Target Range?
Then pause.
The magic here is in the pause…or consider it a mic 🎤 drop 💥. The secret to great negotiation is being very comfortable with the pause. Just wait until the Recruiter begins to start talking to share the role range with you.
This clear and concise communication sets the stage for a productive conversation and ensures everyone is on the same page regarding compensation expectations.
FAQs
What if the role Target Range is higher than my Comp Target Triple™?
That’s totally okay! The Recruiter will typically lead sharing about the role’s Target Range by saying something like, “I understand our Target Range is higher than what you’re asking. The final number is determined following the team’s assessment of your skill sets as it relates to the role, so we’ll wait until a later time to discuss more final numbers, but at least we can confirm we’re in the ballpark.”
I’d leave the conversation there, knowing that you could be paid even more.
What if the role Target Range is lower than my Comp Target Triple™?
Whenever you have learned that the company cannot meet your compensation expectations, this is where you need to make a choice.
I would first clarify with the Recruiter what part of your numbers is not being met by their role Target Range. Is their role Target Range lower than your Minimum? Or is it lower than your Target Range but possibly higher than your Minimum?
My professional advice is not to proceed with interview conversations if the company cannot meet your Minimum. This is why I designed the Comp Target Triple™ in this way. You’ve already done the research and legwork to understand that you cannot take less than your Minimum. It makes negotiations so much easier because you’re not swept up by the emotions of the moment. Instead, you can be confident and simply move on to something better!
Overall, only you can decide whether to proceed with interview conversations when they cannot meet your Target Range.
Remember: When you say ‘no’ to something, you can say ‘yes’ to something else (that could be even better)! Don’t be afraid to say no. I view this as self-care and self-love because you are taking the time to better understand your total compensation picture so that you can invest more time in the interviews that will deliver what you are seeking.
💡Pro Tip: I cannot count the number of times I’ve seen Recruiters come back to candidates who say ‘no’ at this stage. Often, Recruiters are able to see that every candidate following their last conversation with you also shared numbers that are very similar to yours (let’s say). This required the company to return to the drawing board and increase their role Target Range. Don’t be surprised if this happens (and if it does, go with your gut on what to do next). I don’t see this as a negative at all, as anyone can make a mistake on compensation. If they are willing to fix it on top of that, that shows you more about the company and what they’re willing to do when they make an error or oversight!
What if the Recruiter says they can’t share role Target Ranges with candidates?
That’s okay! Depending on your local laws or company policies, they may not have to share the range with you.
If that’s the case, instead, I would respond (following the same script I shared above) now like this:
You: …Which do you prefer?
Recruiter: Unfortunately, I’m unable to provide you with the role Target Range, but I would still like to hear your numbers.
You: No problem! Would you be wililng instead to confirm with me that my numbers are in the ballpark of what is planned for this role’s pay? I want to be sure I’m being respectful of my time, as well as yours and the Hiring Manager’s. I wouldn’t want to interview for a role that I would not be able to meet what I’m seeking for compensation, as my pay is how I care for my family.
Then pause.
Again, the magic here is in the pause…or consider it a mic 🎤 drop 💥. The secret to great negotiation is being very comfortable with the pause. Just wait until the Recruiter to confirm.Recruiter: Yes, I’m happy to confirm that for you.
You: Awesome! I'm excited about this opportunity, and based on my research and experience, my Minimum salary requirement is $120,000. But ideally, my Target Range is $130,000 to $150,000. Is that in the ballpark of what y’all have established for the Target Range?
Then pause again.
Recruiter: Yes, I can confirm (or no, this does exceed our role Target Range).
Ready to Revolutionize Your Compensation Strategy?
If you want to ensure that you don’t leave any money on the negotiating table, you need to leverage the Comp Target Triple™.
It’s a powerful tool that can transform your approach to compensation, whether you're a Candidate, a Talent Acquisition Professional, or a Hiring Leader.
By embracing this framework, you can unlock your earning potential, streamline the hiring process, and achieve greater career success.
I'm confident that the Comp Target Triple™ will become an invaluable asset in your career journey.
Namaste,
💜 Lavender
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