If "make more money" is on your to-do list for 2023, you're not alone. Inflation is allegedly slowing down, but most of us aren't really seeing relief in the still-high prices for basic necessities like groceries and rent. So negotiating for a raise or a higher salary at a new job could make a big difference in your bottom line in the new year.
Whether you're planning to look for a new job or ask for a raise in your current role, she's got tons of solid advice. Here's what we talked about:
1.Whether you're looking for a new job or asking for a raise, Tori says your first step should be doing market research so you know how to price your labor. And the best data will come from talking to people in your network.
She says that many of us do a little research online, and it's a start but it's not the total picture. "A lot of people just go to like, Glassdoor or Payscale and then they're like, 'cool, I'm done.' And that's a good starting point to do some research." But it won't necessarily give you the full picture.
Instead, Tori says actually talking to people in your industry about salaries is a game-changer. "If I'm a social media manager in Seattle, I'm going to have conversations with other social media managers. I've had conversations with people I met at a networking event, maybe previous bosses, people I met on LinkedIn. Maybe I have a recruiter friend who hires people with similar skill sets."
Not sure what to say? Tori suggests sending an email that says something like, "Hey, I hope you're doing well. I'm seeking out a new job and here's the job description. Here's a quick summary of my skills and expertise. Based on your knowledge, what would you price this role at?"
2.Tori says one reason many people get nervous about negotiations is that we think about them as conflicts and feel powerless, but it can be really helpful to reframe them as collaborations.
3.Let's say you're interviewing for a new job, but the salary range isn't in the listing (rude!). The most important thing you should remember is never, ever, ever give the company a number first.
4.But what about those annoying job applications that require you to enter an expected salary? Tori says you don't have to fill in an actual number here.
5.And absolutely don't tell a recruiter how much you're currently making.
6.If an employer makes you an offer that you feel is too low, Tori suggests countering with what she calls a gratitude sandwich.
If the first number you hear isn't so hot, you can always counter it. Tori recommends saying something like, "I can't wait to start work. I see a future here and I just so appreciated your transparency. Based on my my skill sets, my expertise, as well as the market rate, to be fairly compensated I'm looking for a range of X to Y. Let me know if you have any questions. I'm looking forward to talking with you. And I'm looking forward to finding a number we can collaboratively agree on."
This kind of messaging sandwiches the request for more money between statements of gratitude and excitement and also emphasizes collaboration as opposed to a "my way or buh-bye" kind of approach. It shows that you're really interested in the role and just want to iron out the details together.
7.If they get weird when you want to talk about money, that shows how they would treat you down the road if you accepted a job with them.
8.Don't forget you can negotiate for more benefits too.
9.You can also negotiate for a title that will set you up for higher earning roles in the future.
10.Keep track of your successes all year round so it's easier to ask for your next raise or write your next résumé.
11.Let's say you're building a case that you deserve a raise. Tori has a method for laying out your achievements that only takes two sheets of paper.
If you plan to ask for a raise, you'll have a much better shot if you can come to the conversation prepared to show exactly why you deserve the big bucks. To lay this out, Tori recommends grabbing two sheets of paper.
On the first sheet, you'll have your original job description. "You're going to go bullet point by bullet point and tell a story with statistics, some sort of narrative that shows you have not only done your job but done it well," Tori explains. So if a bullet point on your job description says, "Answer incoming support tickets in a timely fashion," you might jot down, "Answered an average of 50 support tickets per day with a 99.8% satisfaction rate."
Then, on the next sheet, you'll write down everything you've done on top of your job description. This means any problems you solved, projects you led, and anything else you've done that's above and beyond the basics of your role. Between these two pieces of paper, you should have all the info you need to make your case.
12.The three best times to negotiate your salary are before starting a new job, during your annual review, and if you discover you're being underpaid.
13.Let's say you find out you're making waaay less than your colleagues and you're simmering with rage. Tori says take some time to cool off before you have a conversation with your boss.
14.With everything being so dang expensive, you might be wondering how inflation fits into salary negotiations in 2023. It can definitely be a piece of the puzzle, but it shouldn't be your main argument.
15.If you do a lot of "invisible work" (think: party planning, taking notes, etc.), don't be afraid to bring it into the conversation..
Tori says that women often take on extra "unpaid, un-promotable tasks," like office housekeeping and culture. "All of the things that are necessary to keep a company going, but they're non compensated and typically not in the promotion conversation. Bring those into the conversation. Especially if somebody's like, 'well, I don't see the work that you're doing.' It's like, 'yeah, because I do it well, and I do it almost invisibly.'" Treat these tasks as things you do above and beyond your job description that contribute to the company's culture.
16.If a raise isn't on the table right now, you can ask what it would take for you to get there.
17.But if it's clear that there's just no way you're going to get paid what you're worth, it may be time to start looking for a new job.
18.Finally, remember that negotiation is a skill that gets better and more comfortable with practice. So practice it!
What's helped you negotiate for better pay? Share your tips in the comments!
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