Chain of Wealth

E167- Salary Negotiations

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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.


[2:46] 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.


[4:31] 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.


[7:59] 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.


[9:21] 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.


[12:49] Not formally announced, but we’re building a debt destruction course!


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

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Chain of Wealth

Chain of Wealth

The Chain of Wealth podcast is a biweekly podcast boasting over 500,000 downloads. We interview inspirational guests about money topics. You can learn more about us here.

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