Salary Negotiation Tips Honor Thy Wealth and Prosperity

Salary Negotiation Tips Honor Thy Wealth and ProsperitySalary Negotiation Tips Honor Thy Wealth and ProsperityIf youre not at least a little embarrassed by the size of your first proposal for compensation, youre not negotiating right.The Ten Commandments of Salary Negotiation (Part 10) Salary expert Jack Chapman offers 10 lessons on salary negotiation in the vein of the Ten Commandments.When shopping for a house once, I welches told by a realtor that if I wasnt at least a little embarrassed at how low my offer was, it was not low enough. Similarly, negotiating a salary or raise, if youre not just a little red-faced at your ideal number, youre not thinking high enough.It has to pass the laugh test, however. If its ridiculously high, theyll just laugh. Likewise, an employers offer must pass yours, lest you laugh because its ridiculously low.Once, my daughter asked for my negotiation advice and (surprisingly) followed it. She had been a star document organizer in a nationwide class acti on lawsuit with 800 trials pending and mountains of e-paperwork to track, file and retrieve at a moments notice. She lived in Manhattan on zu sich $35,000 = $17.50-per-hour annual salary. After she left the firm, for reasons other than salary, they ran into trouble. They called her back and asked her to consult with the remaining paralegals to show them her organization and retrieval system.My daughter and I figured that $150 per hour would be fair. Once they had agreed on her consulting role, timing, independent contractor status and the other details, her old boss said, I suppose we can departure at the usual $35,000.She laughed.They flunked her laugh test.When you present your number, dont share a small number share your ideal. Your Wow number. (Quick reminder, though. Remember Commandment 1. Wait until youre sure theyre ready to make you an offer.) Your ideal number should make you blush a little (or its not high enough).Make sure, of course, its bolstered by a solid value propo sition. (See Commandment 5.) Let them know the rationale behind the numbers, and you can soften the economic blow by saying, This may be just a bit out of reach, but I think I owe it to you to tell you what would really excite me. Its _.Think about it. Why would you start negotiations any lower?Theres a curious phenomenon. In negotiations, the first number you put out will act as a magnet and pull their number toward it the higher your number assuming it passes the laugh test, the stronger the magnet.The only worry in going first and going high is that you might catch your employer off guard and the ideal number has such strong magnetism that s/he agrees to overpay you. However, if you feel bad/guilty for taking advantage of his/her poor negotiation skills, you can always give it back You can always say, You know, I think I was a little too demanding in the negotiations, and while I expect to be your star employee, I want you to feel good about my earnings. Why dont we take 10 perce nt of my earnings and give them to a charity we can both agree on?To the best of my knowledge, no ones ever done that, but just in case youre too timid or embarrassed to go for the gold, remembering this might help you engage that last little bit of motivation to Honor Thy Wealth and Prosperity.Read other installments in this seriesPart 1 Salary Negotiation Tips Thou Shalt bedrngnis Speak Too SoonPart 2 Salary Negotiation Tips Thou Shalt Not Regret Salary DisclosurePart 3 Salary Negotiation Tips Let the Employer Make the First Salary OfferPart 4 Salary Negotiation Tips Thou Shalt Not AgreePart 5 Salary Negotiation Tips Know How Much Money Youre WorthPart 6 Salary Negotiation Tips Thou Shalt Covet Thine Own Benefits and PerksPart 7 Salary Negotiation Tips This Is the Job Thou CovetethPart 8 Salary Negotiation Tips Thou Shalt Not Worry about Earthly EconomyPart 9 Salary Negotiation Tips Thou Shalt Not Take the personenname of Thy Salary in VainPart 10 Salary Negotiation Tips Honor Thy Wealth and Prosperity

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Mika Brzezinski and SoFi exec teach us how to Get That Raise

Mika Brzezinski and SoFi exec teach us how to Get That RaiseMika Brzezinski and SoFi exec teach us how to Get That RaiseYou may watch her co-host MSNBCs Morning Joeon TV before heading to work during the week, or be clamoring for a re-released copy of her latest book,Know Your Value, but media mogul Mika Brzezinski has entered a partnership with finance company SoFiin an effort to educate people about leveraging what they bring to the table.Brzezinskisat down with Libby Leffler, SoFis Vice President of Membership, to talk about asking for the money you deserve at work during the Get That Raise eventin New York City.SoFi also launched a tool to help employees negotiate their salaries using hard data.Brzezinski answered a question about the best advice shes gotten, recalling something her Morning Joe co-host Joe Scarborough told her after she welches denied a raise at NBC.The best piece of advice that Ive received is probably theyre not supposed to like you which was screamed at the to p of his lungs by Joe, to me, when I came back after a very tense moment with a manager - a female manager at NBC - when I didnt get the raise like, a third or a fourth time. AndI got emotional. Because she told me I that shouldnt ask for it because people arent gonna like me.I was like, what? She goes, yeah, people are gonna start thinking youre a problem, its a really bad time for the company, the TV personality said. And I got pulled into that button that I think women push because we know it bugs us. And I think thats dirty. Thats dirty pool, and I shouldve said that. I shouldve said a couple of things or like, given her a really important signal. And if I had, we would be friends today.But because I didnt, and I walked away, slinked away and I was even kind of teary, um, Joe was like, What happened in there? And I was like, she said people wont like me, and he was like, what? And then all these f-bombs, and then, Theyre not supposed to like you Theyre supposed to give you t he money Brzezinski added. And Im like, I dont get that, and so, for me, I actually think its being respected.Respect is really important from the get-go. And you build for it, it takes over time, but pushing back in real time wouldve garnered that respect.Brzezinskis newest text hit bookshelves on September 25, and is part of a larger, nationwide initiative with the same name that is reportedly focused on empowering women to express their worth in business and in life.Its clear that employees often face a ton of obstacles during the salary negotiation process - in fact,a recent survey of more than 1,100 SoFi members found that 42% said they feel they will not have a strong enough argument (imposter syndrome) and get declined.SoFis Membership Sttarifgy Lead on talking money at workBut Brzezinski wasnt the only one at the event who doled out candid money advice - Alexandra Dickinson, Membership Sttarifgy Lead at SoFi, sat down withLaddersto offer salary negotiation tipsOn the bes t way to prepare for a negotiationThe best way to prepare for a negotiation is to do really good research. And I like to say that good research starts on the internet and finishes in person. So, we have a free tool from SoFi at getthatraise.sofi.com, where you can put in information about what you do and where you live, and itll give you back market rate salary data so you can get that broad salary data survey. You can also put in info about what you do now, what your accomplishments are, where you see yourself going, and itll give you a professional presentation that you can print out and take into your boss. Or, you dont have to print it, but take into your boss to help you have that discussion, she said.And then the other component of that is talking to actual people who would have a good sense of the market rate for your job. So, people in your industry mentor types who hire at your level, and getting a sense from actual people as well as a broader scope on the internet.On t alking money during the hiring processIn terms of stage of the hiring process I advise people that you do wanna put a number out there first. A lot of us have heard, oh, never make the first offer, but thats actually not your best plan. If you can get really good research about what is reasonable and what the market rate is, and what a stretch goal might be. The thing is, though, you dont wanna bring it up too soon, right? So, they might ask you, like, on the phone screen, so, how much are you looking to make? At that point, its really too soon to have the conversation cuz you just dont know if youre a good fit for each other, Dickinson told Ladders. You wanna wait until they want you, they need you, they gotta have you - thats really the time to talk about money. So ideally you can just say, You know, Im not ready to answer that right now because I have a lot of questions about the role. Can we revisit this when we get a little further down the process? On talking money when youv e already worked somewhere for yearsSo, if youve been at a job for a couple years, you wanna strike while the iron is hot, so, right when youve accomplished something really great, you helped move the needle for your team, for your manager it doesnt necessarily have to be during your performance review. For some companies, the budget and the performance review cycle are not related, so you do have to learn a little bit about how the process works at your company, Dickinson said. But in generalyou wanna take the context into consideration of how your company is doing. If youve been posting losses for a few quarters, like, maybe nows not the greatest time to ask, but if everythings going well and you just had a major accomplishment at work, that would be a good time to think about it.On why she gives everyone the same adviceI give the same advice to everybody I find that when you give women specific advice, Oh, do this because youre a woman, it tends to just psych you out andjust pe rpetuate, honestly, the feeling that oh, its different for women than it is for men. Ive worked with plenty of men who have anxiety about it too. So Im all for supporting women and advancing their careers, but I dont give different advice for women versus men, Dickinson told Ladders.On how she feels about using silence as a negotiation tacticLove it. Speech is silver, silence is golden. You know, itcan be comfortable with silence, you can sometimes gain the upper hand. So, it might sound a little uncomfortable to folks, but if you can say, According to my research, the market rate for this position is, Ill make up a number, $100,000 and heres why I think Im a great candidate for this role, X, Y, and Z, so, I would like a salary of $105,000, and zip it, and just wait. You know, you can sometimes get a little advantage by being willing to do that, Dickinson said.