Transcript
Know Your Worth, Grow Your WorthDesiree Grace, Vice-President, Sales & Marketing
Anamet Electrical, Inc.
Have you ever...
Felt under-paid?
Felt under-valued?
Felt you "left money on the table?"
Did you ever...
Learn you were under-paid?
Learn you were under-valued?
Learn you left money on the table?
LEARN HOW TO MAKE DARN SURE THIS NEVER HAPPENED AGAIN?
–Eleanor Roosevelt
"Nobody can take advantage of you without your permission."
Market Research
Salary Surveys
Geographic parameters
Title & Job Description
Qualifications--be honest!
Salary Surveys
GlassDoor.com
salary.com
PayScale.com
Geographic Parameters
Compare Apples to Apples
Springfield, Illinois is NOT Chicago or St. Louis
Compare to Peoria, Illinois, for example
Similar population size and composition
Title & Job Description
Different names for the same or similar role
Search by job description
Compare individual contributor vs. manager
How many direct reports?
Be Honest
Education
Years of experience
Supervisory experience
Relevant extracurriculars
Where do you fall in the range?
An Example
Customer Service Supervisor:
3-5 years experience in Customer Service
Demonstrated technical expertise, detail-oriented, problem-solving abilities, ability to multi-task, excellent inter-personal skills
Previous supervisory experience preferred
Associate’s or Bachelor’s degree preferred
An Example, continuedCustomer Service Supervisor, Manager, Team Lead
Peoria, IL., 4 years experience, Associate’s degree
Median on PayScale: $35,554; range $28K-45K
Median on GlassDoor: $61,361 national average
5-10 years experience on salary.com: $74, 038
6 General Rules of Negotiation
1. Avoid accepting the first offer
2. Don’t be the first to share a number
3. Ask for more than what you are willing to settle for
4. Find a balance between what you’re worth & what the employer can offer
5. Remember to negotiate additional perks
6. Keep your emotions in check
–Colin Powell
"There are no secrets to success. It is the result of preparation, hard work, and learning from failure."
Why do all this hard work?
FOR YOUR EMPLOYER
Negotiation ability is a relevant job skill
“Line” roles that impact profitability lead to more promotions
FOR YOU
Negotiate an extra $3,000 in starting salary, save it in a
401k every year at 6%, it will be worth $9,621.39 in 20 years with no additions
Consider the impact on future raises, too
–Joyce Brothers
"A strong, positive self-image is the best possible preparation for
success."
Negotiate
Salary
Vacation
Education and Training
Non-traditional assignment
Mentoring
What if you fail?DON'T PLAY THE BLUES,
NEGOTIATE A REVIEW
How?
Commit to a time frame
Put it on the Calendar
Commit to Action Items
Follow-Through
The Review
Summarize why you are both here
Review successes, lessons learned
State in Quantitative terms your impact
Ask again
Be prepared to meet in the middle
Conclusion
Thank the parties involved
Keep notes
Get it in writing
Follow-up
What did you learn?
Questions?Thank you!
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