As I approach a new year with a new company, let’s look at common nasty bits of the flip-side of how to value your worth: devaluing it 💩
First Off: Not Knowing Your Value
You would do yourself a better favor ignoring any new paid work if you haven’t done the bare minimum of any interview process.
That bare minimum? Doing the research, ie:
Know where the money is 💲
Figure out how much a title pays nationally. Know what that role pays in the region and industry (though industry is less and less relevant). Glassdoor the salaries paid at the company. Normalize everything to the cost-of-living (CoL) of the town you live in and where the company is headquartered.
Of those numbers, get the median. Get the average. Pick the highest value. At least multiply that number by 110%, if not 110% to 125%.
Then what do you have? Value. Or, more precisely, an appropriate range (high average or 110% to 110% or 125%) of value you must ask for with the role with the company in the city. Anything less is at best worthless, if not going to be a sticking point for you later.
Second: Anchoring Low
A common negotiation tactic is to anchor the talks on a low value.
You are not low value.
When the company goes low, you go high. Heck, if the company goes OK, you go high. If they go high, you go higher 🔥
They mention a range lower than yours or doesn’t intersect the top of your range? You sigh, you flinch, you gasp, and you quote them your researched range. (Apply emphasis that your skills warrant the top of the range no-doubt.)
You are cornered or feel compelled to mention a range? That 110% to 125% is looking awfully fine right now 😉
If you feel uncomfortable asking for this kind of cash, just know other companies across the nation are paying at or above your quoted. So why do you deserve any less? (If you have an answer to this rhetorical question, there are some confidence and self-esteem issues you need to figure out ASAP.)
No, seriously, if you don’t think you doing a role is worth the nationally determined compensation for the title, stop reading this article. I wish I had something of mine to link here, but I don’t – go get help!
Side note: If you ever find yourself being in the very rare and unusual position of the company offering more than the top of your not-yet-quoted range, tell the company the both of you are close, but you were looking for approximately-10%-over-the-company’s-value. That way you leave nothing on the table that the company was not already planning on giving you!
Third Up: Not Shutting Up
After you have spoken, cease speaking 😶
Simple, ya? No. Human nature wants to justify ourselves and our expectations of others to others. To do that, we’ll lace our speech with weak words and bury our hopes in our own babble.
When you’ve stated your range, when you’ve told the company they need to have a better offer, when you’ve asked for that bonus, shush.
As many professional negotiators put it (see this post’s Further Learning section):
They who breaks silence first loses.
This in part applies to:
Fourth, Your Greatest Enemy: Yourself
What I mean is you will negotiate against your own self interests.
There are many ways to hamstring your efforts:
- Quoting a dollar range first.
- Agreeing to additional responsibility without additional compensation.
- Settling for splitting the difference.
- Generally being too agreeable 😇
The root of your self-harm is fearing the discomfort of disagreeableness.
Be conscientious of your value, be kind to those you negotiate with, but be brave enough to be disagreeable when a benefit to you and your future selves is on the line.
What have you done in negotiating down your value? I’ve done all of the above and more – which have you? Share your experiences for others and myself to watch out for.
COVID is still very bad – While you Zoom safely from home, may you earn your worth and more 😁 Cheers~