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It’s the Season 6 finale episode, but I’m ending things off with one hell of an inspiring and motivating episode! I chat with salary negotiation coach Kathlyn Hart about what to do (and not to do) to negotiate a higher salary so you can be paid your worth.
It’s actually pretty funny timing this episode because this time 2 years ago is when I asked my boss for a promotion and a raise. I thought I took all the right steps to level up my job and income, but little did I know I actually made a ton of mistakes. So many in fact that I ended up quitting that job.
Obviously, I don’t regret how things turned out. It gave me the push I needed to leave a job that wasn’t fulfilling to run my own business. And now, I’m a year and a half in to being an entrepreneur and I’m so thankful for it.
But, that being said, I sure wish I knew some of the tips and tactics Kathlyn shares in this episode when I was back working a 9 to 5. I wonder how things would have been different.
To sum up some of Kathlyn top tips, I’ve compiled them below in case you want to be brave and get paid better than you are now.
Salary Negotiation Beings in the Job Search
This was a big mistake I made early on. I always chose jobs and industries that were on the downturn or didn’t have any growth potential. Because of this, for most of my corporate life, I earned really low salaries and never got promotions or raises.
Well, what you’re supposed to do is pick a job and industry that are the opposite of that. As Kathlyn mentions, a project manager for a non-profit is going to be paid substantially less than a project manager for a Fortune 500 company. This is something you need to consider before applying for jobs, because it could be the difference of earning $50,000 or $150,000 per year.
Be Confident When Talking Salaries in Interviews
I always dreaded when the interviewer would ask me my salary expectations. Most of the time I was so desperate for the job, I always gave them my lowest possible number, and would always kick myself a few months later when I was in a role making less than I deserved.
Do not do this. Kathlyn has a strategy that focuses on your wish, your want and your walk. Those three numbers are your dream salary, the salary you’d be satisfied with, and the salary that would make you walk away from the job offer because it’s too low. Instead of starting with your lowest offer, ask for your dream salary. Of course, it’s important to back that number up with research, comparables from other jobs in similar sectors, and your skillset. But, if you present your ask with confidence and certainty, the interviewer will be more likely to see your value and want to lock you down for the job.
Be Okay with Walking Away
If you don’t feel like you’re earning enough at your current job, and you feel like you’ve done everything to bump up your salary but nothing’s working, it might be time to walk away. It’s no secret that the easiest way to increase your salary is by jumping ship to another company. Just make sure you’re prepared to ask for the salary you really want before accepting your next job offer.