The Career Suite

Podcast, “The Career Suite”
S1 E10
Title: More $ More Outcomes!
Host: Helen G. Sneed
Ready to drive your future forward?
Then you’re in the right place!
Let's step inside the Career Suite, where Career conversations begin with you!

Thank you for joining me today inside the Suite. Today’s conversation is plain and simple. If you want to negotiate more money then you have to deliver more outcomes. While your reason for wanting more money might be personal, for the organization hiring you, it’s strictly business.

1) Does your position generate revenue or is it a support role?
2) How much money does the organization think the position is worth in the market, based on current trends, geographical location, how specialized is it, and the supply and demand of the economy.
3) How much money was set aside in the budget for your position?

None of these questions have anything to do with your household budget, size of your family, marital status or your expenses. From the employer’s perspective, it’s not part of the decision-making process; so take it off the table!

Let’s pause for a moment, let’s talk about what the employer is interested in when it comes to spending money. Jot down these three questions:

1) Can you highlight the impact you made in your previous roles?
2) Do you recall specific expectations from your previous job descriptions?
3) During your performance reviews did you meet or exceed your goals?

If you’re unsure how to answer any of those three questions then think about this
What difference did your actions make, to whom, why was/is that important, and what changed because of your knowledge, skills, talent and abilities?

That’s how you analyze what value you are adding to the position, to the team and the company!

Before negotiating your salary; research industry standards and salary range for similar positions. Take into consideration the current market value of similar titles, qualifications, and where does the company fall in the market, lower third, middle third or upper third?

For a moment, let’s pretend you want to go on vacation, let's think about three hotel brands:
A) Days Inn
B) Sheraton
C) JW Marriott.
If you’re budget conscious and shopping strictly based on price then you’re probably staying at a Days Inn but if you’re looking for an experience and you want a concierge to help you arrange a night on the town then you’re more likely to stay at the JW Marriott. The Sheraton is somewhere in the middle. Employers are the same way, the combination of their pay and benefits are indicators of their brand and their position in the salary marketplace. That’s part of your research before you begin negotiations.

I have eight (8) steps for you and your salary negotiation process:

1) Be prepared.
2) Research the company and the market place. (visit Glassdoor, LI & Payscale)
3) Know how your actions impacted outcomes at previous employers.
4) Make sure your “value add” is included in your resume, on your LI profile and part of your interview process.
5) Review their benefits before they make an offer.
6) Be ready to compromise.
7) Remember, demonstrating your value is an ongoing process. Continuously strive to excel in your role, exceed expectations, and identify new ways to contribute and grow within the organization.
8) Track your own progress; how else will you be ready for the next opportunity?

I'm Helen G. Sneed; join me again in “The Career Suite”, where I promise to save you a seat! If you need help negotiation, email me and include your name to CEO@thecareersuite. In Episode number 11, we'll discuss, Onboarding and what to expect on day 1.

Join me again in two weeks, you'll be glad you did!