Know Your Worth
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Transcript of Know Your Worth
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Know Your Worth, Grow Your WorthDesiree Grace, Vice-President, Sales & Marketing
Anamet Electrical, Inc.
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Have you ever...
Felt under-paid?
Felt under-valued?
Felt you "left money on the table?"
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Did you ever...
Learn you were under-paid?
Learn you were under-valued?
Learn you left money on the table?
LEARN HOW TO MAKE DARN SURE THIS NEVER HAPPENED AGAIN?
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–Eleanor Roosevelt
"Nobody can take advantage of you without your permission."
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Market Research
Salary Surveys
Geographic parameters
Title & Job Description
Qualifications--be honest!
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Salary Surveys
GlassDoor.com
salary.com
PayScale.com
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Geographic Parameters
Compare Apples to Apples
Springfield, Illinois is NOT Chicago or St. Louis
Compare to Peoria, Illinois, for example
Similar population size and composition
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Title & Job Description
Different names for the same or similar role
Search by job description
Compare individual contributor vs. manager
How many direct reports?
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Be Honest
Education
Years of experience
Supervisory experience
Relevant extracurriculars
Where do you fall in the range?
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An Example
Customer Service Supervisor:
3-5 years experience in Customer Service
Demonstrated technical expertise, detail-oriented, problem-solving abilities, ability to multi-task, excellent inter-personal skills
Previous supervisory experience preferred
Associate’s or Bachelor’s degree preferred
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An Example, continuedCustomer Service Supervisor, Manager, Team Lead
Peoria, IL., 4 years experience, Associate’s degree
Median on PayScale: $35,554; range $28K-45K
Median on GlassDoor: $61,361 national average
5-10 years experience on salary.com: $74, 038
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6 General Rules of Negotiation
1. Avoid accepting the first offer
2. Don’t be the first to share a number
3. Ask for more than what you are willing to settle for
4. Find a balance between what you’re worth & what the employer can offer
5. Remember to negotiate additional perks
6. Keep your emotions in check
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–Colin Powell
"There are no secrets to success. It is the result of preparation, hard work, and learning from failure."
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Why do all this hard work?
FOR YOUR EMPLOYER
Negotiation ability is a relevant job skill
“Line” roles that impact profitability lead to more promotions
FOR YOU
Negotiate an extra $3,000 in starting salary, save it in a
401k every year at 6%, it will be worth $9,621.39 in 20 years with no additions
Consider the impact on future raises, too
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–Joyce Brothers
"A strong, positive self-image is the best possible preparation for
success."
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Negotiate
Salary
Vacation
Education and Training
Non-traditional assignment
Mentoring
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What if you fail?DON'T PLAY THE BLUES,
NEGOTIATE A REVIEW
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How?
Commit to a time frame
Put it on the Calendar
Commit to Action Items
Follow-Through
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The Review
Summarize why you are both here
Review successes, lessons learned
State in Quantitative terms your impact
Ask again
Be prepared to meet in the middle
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Conclusion
Thank the parties involved
Keep notes
Get it in writing
Follow-up
What did you learn?
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Questions?Thank you!