Bread.
Tips on wage negotiation
$120k
$48k
$0k
$0k
$150k
$30k
$105k
:)
first job (2006)
current day
quit first job
fired / laid off
slow business
Question Time.
Should you reveal your current salary when asked by a prospective employer?
Never give out this information; it’s simply not relevant. “Your salary has to do with your performance and the market rate.
If it's your first job in an industry should you try and negotiate your salary?
60% of millennials don't negotiate their first job offer.
Should women be concerned when negotiating for a higher wage?
Women say they don't often negotiate 30% of the time because of concern about consequences.
The 2006 Bowles study said that when women negotiate their salaries, men and women are less likely to want to work with them. The effect was 5.5 times that faced by men.
If you negotiated $60k as a salaried employee and are working 60 hours a week, how much do you make a year?
Contents.
- understand the landscape
- know your worth
- selling yourself
- the offer
- benefits & perks
- think long-term
Know where you are & where you're going.
The landscape
- a company has one goal
- make money; save money
- get & retain talent to accomplish #2
Know your worth
- check the market
- where do you fit into the company reality?
- what does your personal brand say about?
- ability to make money
- ability to save it
- overall productivity & knowledge
- bus factor
- creating value
- maintaining value
Will your company care?
Selling yourself
- articulate your value
- internal (ie. lightning talks, FOSS, fixing bugs)
- external (ie. FOSS, media, hobbies, community work)
- establish trust in your productivity
- your network == your net worth
The offer
- be prepared
- don't get emotional
- don't reveal
- be silent (use: 'hmm')
- be flexible
Negotiation Methods: Noel Smith-Wenkle
Smith-Wenkle method
- Don't reveal salary on application
- "I'm more interested in doing [type of work] than I am the size of the initial offer.
- "I will consider any reasonable offer"
- "You're in a much better position to know the value I can provide than I am"
- Accept or counter. (with data why)
Think long-term
- do company values match yours
- respects your time
- focuses on value
- sets clear expectations; has integrity
- benefits & perks are important
- get an HSA (if possible)
- is equity important to you?
- understand when to go...
Resources
The best time to look for a job is when you don't need one.
- Mom