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This Week in Leadership (Nov 29 - Dec 5)
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Whether you're negotiating salary for a new job or you're asking for a raise, a "money conversation" in any professional context is downright awkward.
If you're like most people, you'd rather accept what you're given — and resent it later — than make the ask. The problem is that no one knows how to engage in the conversation.
To get the salary you're truly worth, you have to change your mindset and realize that it's not all about you and what you're getting out of the job. You're in a partnership with your (new) boss, and the mission is to drive team goals and improve company performance.
So the next time you head into a conversation about salary, equip yourself with these essential tips on what not to do:
With an offer in hand, you'll never have more leverage than you do at that moment. The company wants you, and they may be open to negotiating at least some elements of your compensation.
Now that you understand the facts, you're ready to make the ask — and it's all about how you ask.
Whether you ask for 10, 20 or 50% more than what was offered (and you did your market research, right?), you'll need to demonstrate that you're worth it. Be specific about the value you'll bring to help achieve company goals. A "value mindset" will prevent you from underselling yourself. Without it, you might even come off as arrogant or greedy.
The money conversation is never a "one-and-done" task. Stay focused on goals and deliverables. Determine what "success" looks like for you so that your periodic check-ins become a natural pivot for asking for more money.
One way to stay focused is to maintain a "M.O.R.E." mindset:
-Meet face-to-face with your boss.
-Own your performance objectives and how you contribute to team success.
-Research your worth.
-Envision your end game: a better job, more challenges and new opportunities to grow.
Too few people do this well. And remember these don'ts:
Remember, there's absolutely nothing wrong with asking for a higher salary. Just keep in mind that "more money" doesn't just come on demand. You need know how to ask, and how to deliver what you promise.
A version of this article appears on CNBC.com.