It’s a great question and one that’s prevalent in finding new jobs. The overall answer is two words. ‘It depends.’
An employer’s offer depends on how much talent a person has. Also, how many people with that amount of skill are in the local area. And how well the new candidate will fit with the rest of the team. For the employer, it boils down to what the new person will be able to do for the company as they grow within it.
There are many other considerations, such as how well the new individual gets along with the core team. Also, what second and third skillsets the person has and are valuable to the company.
Value to the individual applying should include the pay and the power of the benefits they will receive and how working with the company may help their stature within their professional community.
The topic is too large for one blog. So what I will do is come back regularly with ideas and tips on how to verify the local rate for someone with a particular set of skills. Also, to show how higher education can both help you and hurt you in negotiations. And how to know what an employer does not want to tell you and how you can find out.