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!
- We’re accepting 5 people to give them free access to the debt course.
- Kate paid off almost $200k in less than 2 years.
UPDATE: Katie asked for what she wanted and she got that exact amount. 🙂