E167- Salary Negotiations

Connect with Our Guest

Subscribe to Chain of Wealth

Join 40,515 Monthly Listeners

Subscribe to Chain of Wealth

Join 40,515 Monthly Listeners

Pro Tip: Timestamps below are clickable. Click on the time below in the brackets and the audio will start playing at that part of the show.

Katie is presented with the opportunity to negotiate her salary as the school year is going to renew(she’s at a private school). We cover general salary negotiations, it’s definitely an interesting topic and can help you take home a ton of more money.

 

[2:17] People don’t realize how much they can actually negotiate their salaries, Katie was in a position where her salary was set, so here’s some things to consider about salary negotiations-

  • Women typically don’t negotiate as much as men
  • Katie had to take a pay cut when she originally took the job, so she felt like she didn’t really have the upper hand.

 

[4:2] How do you know when you’re in a position to try push salary negotiations?

  • You need to be comfortable with yourself and know when you’re asking for a reasonable amount. If you have a number you want and won’t settle for it then that’s a good point to try negotiate.
  • Lots of jobs have a fixed increase so there isn’t typically the ability to negotiate, one of the best times to negotiate is when you’re trying to get a new job.
  • You typically have the upper hand because companies have normally narrowed it down to one or two candidates.
  • Always start high and let them counteroffer you.

 

[7:30] A great example is Facebook Marketplace, always start high,

  • If you don’t ask you don’t get.
  • Most companies have a range that they’re looking to try place someone so always shoot for the higher end of that range.

 

[8:52] It’s all good to go in guns blazing, but when you’re actually in front of your future employer, you need to plan out what you’re going to say.

  • Have a strong understanding of your self worth.
  • You typically know more than what you realize.
  • If you explain why you are the best at something you definitely have the upper hand, people don’t realize how critically important something is, perceived value is exceptionally important.
  • If you have no idea- fake it till you make it 🙂 If you don’t believe in that, you become what you focus on.

 

[12:20] Not formally announced, but we’re building a debt destruction course!

 

UPDATE: Katie asked for what she wanted and she got that exact amount. 🙂

Enjoying Our Podcast?

We have over 150 episodes to listen to! Join over 2,167 daily listeners that pursue financial freedom.

By entering your email, you agree to our Terms of Service and Privacy Policy.

Other Podcasts

About the Podcast
Chain of Wealth

Chain of Wealth

The Chain of Wealth podcast is a biweekly podcast boasting over 350,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

Share On
Share on facebook
Share on twitter
Share on linkedin

Leave a Reply

Your email address will not be published. Required fields are marked *