Salary Negotiations’ Post

We get it. Understanding your total compensation package can feel like deciphering a foreign language. The tech industry is competitive, and companies are offering more than just salaries to attract top talent. Our latest article is your guide through this maze. We break down the myriad forms of alternative compensation—from stock options that could boost your net worth to performance bonuses that reward your hard work. We’re here to help cut through the confusion and see the full picture. Dive in and arm yourself with the knowledge to evaluate your next job offer with confidence. Your financial future starts here: https://lnkd.in/gx5YGCWX

A negotiations professor says the back-and-forth over compensation is more about emotions than money. Michelle Greenberg-Kobrin says in CNBC Make It this comes back to core identity, which is often attached to your job and sense of self-worth. Greenberg-Kobrin notes that this means fear and guilt can crash your negotiations, making you wonder if the job is the right fit or if you deserve increased compensation. She recommends listing and sorting your feelings to see the positives and negatives. That unravels confusion. And think about the other side: what are they considering, and how do they feel? Doing so builds trust and shifts the focus from just you, Greenberg-Kobrin says. Read more: https://lnkd.in/eHn2fsbF Summary ✍: Todd Dybas

Scarcity of Compliments and How to Act! Compliments benefit both the giver and receiver. In an organizational setup, I see people tend to underestimate their impact. Sometimes, it seems like giving a simple compliment is as costly as giving a salary raise. This scarcity is more vividly seen in mid to top management. So, let's focus on some favorite compliments that people will love to hear and that will help make their day. 1. "You handled that situation so well." 2. "I'm really impressed with your ability to work under pressure." 3. "I love the way you bring out the best in people." 4. "Hey, nice shirt, suit, whatever!" 5. "Your presence in meeting brings valuable insights about the subject matter." SO, START PRACTICING FROM TODAY!

The Importance of Self-Respect and Fair Compensation in the Workplace 1. Set Boundaries: Establishing clear boundaries protects your time and energy, fostering a culture of respect for yourself and your colleagues. 2. Value Your Contributions: Recognize the unique skills and perspectives you bring to the table. Your contributions matter, and fair compensation reflects that value, boosting both your self-esteem and motivation. 3. Embrace Constructive Feedback: Use feedback as a tool for growth rather than criticism. This mindset enhances your skills and reinforces your self-worth, ultimately justifying your salary growth. 4. Negotiate for Fair Compensation: Don’t shy away from discussing salary during performance reviews or when taking on new responsibilities. Knowing your worth and advocating for it is a crucial aspect of self-respect. Remember, self-respect and fair compensation go hand in hand. Let’s foster an environment where everyone feels valued and supported in their growth.

What's the most valuable aspect of a compensation survey outside of the obvious - salary, bonus, carry numbers? I'm pulling together our second compensation survey specifically for PE BD professionals, and I'd love some input. Whether it's about BD team construction, sourcing channels and strategies, or something else entirely—what do you think should be captured? Drop thoughts in the comments or DM me if there's something you think we should include.

You may have listened to the webinar I did with my colleague Emily Gillmore, where we had a great chat with a client about all things reward and benefits, but one of the things I took from it was how important it is to have a robust job levelling framework. John Hamilton perfectly described it as 'the sneaky importance of job levelling' - and I'm now using this phrase as I LOVE it - it perfectly explains how it creates the magical framework to hook all things reward and benefits from. If you want to create a fair and equitable workplace, move towards more transparency, attract and retain talent with open career paths and rewards, then this is where you start. Click the link to listen to the full webinar if you want to: https://lnkd.in/d8y3nJHQ Or contact me if you would like to find out more about how we are helping clients move their people from hygiene to hooked, saving them time and money by creating great reward frameworks.

Salary discrimination between IJP promotions and external hires: Why do internally promoted employees, who often exhibit strong loyalty and deep organizational knowledge, receive significantly lower compensation compared to external hires with similar qualifications? It's time to rethink our approach to rewarding talent and recognize the value of internal growth. Let's start a conversation about fair compensation practices. Share your experiences and insights in the comments below.

Mistake #6: Settling For Less Because Of Labels When you worry about being perceived as greedy or pushy while negotiating for a higher salary, you could settle for less than you deserve. Perception may not be your reality when it comes to what others think of your ask. Ask anyway, not necessarily for what’s comfortable but what your experience, expertise and outcomes command. It’s time to create your big ask. Here’s my free 5-Day Challenge: https://lnkd.in/g5EXaQkT

Salary is often the yield of one's efforts and dedication in the workplace. When you take on more responsibilities, you demonstrate your capability to handle complex tasks and your commitment to the organization's success. This increased effort and contribution can lead to skill development, leadership opportunities, and greater visibility among higher-ups. As a result, you become a more valuable asset to the company, which can translate into better roles and higher pay. Essentially, the more effort you put into your work, the more likely you are to see rewards in the form of career advancement and increased salary.

How to Ask for a Raise When You’re an Introvert… Asking for a raise can feel uncomfortable, especially if you’re an introvert or not used to self-advocating. Here’s how to approach it with confidence: 1. Prepare Your Case - Research salary benchmarks for your role to ensure your request is reasonable. Document your achievements; focus on measurable results like increased efficiency, completed projects, or extra responsibilities. 2. Pick the Right Time - Choose a positive moment, like during a performance review or after completing a major project. 3. Use a Script - Keep your request clear and focused on your contributions: “I’ve taken on *specific responsibilities, *delivered specific results, and *exceeded specific goals. I’d like to discuss how my compensation can reflect this impact.” *(relate to your performance directly) 4. Stay Professional - Communicate calmly and avoid apologizing. You’re making a business case, not asking for a favor. 5. Prepare for Any Outcome - If it’s a “yes,” thank your manager. If it’s a “no,” ask for feedback and set a timeline to revisit the conversation, or review your options. Advocating for fair pay is an important step in your career. Plan, practice, and take the leap—you’ve got this! You are the only one in charge of your pathway!