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Tips For Salary Negotiation

After weeks of interviews, finally getting an offer from a company that you’re excited to work for is exciting! But not many unemployed candidates prepare for what’s coming next. Is the offer you received everything that you’re hoping it to be? While salary negotiation is a daunting process, it’s also necessary to ensure that you’re getting what you deserve & what you’re worth. After successfully negotiating my offer package with my new employer, I’m ready & eager to share my tips for salary negotiation.

DO YOUR RESEARCH

Sites such as Glassdoor & Payscale will give you a good idea of the salary range of your role based on your years of experience & location. This will give you a good idea of the expected salary. If you’re given salary ranges from other companies in similar roles, make a note of it to better understand the current compensation market rates.

Use your initial offer as a starting point to negotiate. If the initial offer you’re given is outside of your range, use that as a green light for further negotiation. It’s a general rule of thumb when changing companies to aim for at least a 10% base salary increase when moving laterally. If taking on new responsibilities, aim for 15-20% base salary.

DON’T PROVIDE YOUR SALARY EXPECTATIONS FIRST

Most employers don’t publicly list their salary budget. So to get the most lucrative salary range, ask for the company’s salary range first. For example, if the recruiter or hiring manager asks for your salary expectations, simply turn the tables back onto them.

Say this: “I expect to be paid reasonably considering my work history & years of experience, so my salary range is flexible. What’s your current salary range?” Once they provide their range, if it’s far below your expectations, ask: “Is there any flexibility with that range?”

If there’s not, inform the recruiter or hiring manager that you don’t want to waste their time by continuing. If the salary range provided is within your expected salary range, you can respond with: “Ok, great! The higher end of that range works for me.”

This way, you’re getting the salary that you need to live comfortably. Don’t waste your time or the company’s time continuing through a hiring pipeline that you’ll reject at the end of the day.

CONSIDER THE ENTIRE OFFER PACKAGE

While your base salary is an important part of your offer, other benefits are equally important. Are you being given equity in the company? Are you getting great health, vision, & dental benefits?

My new employer offers great parental leave & even fertility support. Our company has mental health recharge days, generous PTO, cell phone reimbursement, & even a learning & development stipend. All of these additional benefits & perks were like a cherry on top of a delicious ice cream sundae.

KNOW THAT THEY ALREADY LIKE & WANT YOU

If you receive an offer, know that everyone that you’ve interviewed with thus far likes & wants to work with you. Use it as a confidence boost. As someone who the team is already eager to have join, they won’t shun or rescind your offer for wanting to negotiate.

Approach negotiation as a collaboration to create an offer that you & your employer are happy with, rather than “being greedy”. Even if you’re in other hiring pipelines or have other offers on the table that pay more, emphasize that you’re not just driven by the cash component of the offer. Reassure them that they’re your number one choice & ask if they’re open to discuss where in your offer there is more leeway or wiggle room.

Using my tips for salary negotiation above, I was recently able to increase my base salary by 18%! While salary negotiation can be daunting, it’s a necessary part of your job search. Most companies expect future candidates to negotiate salaries. By not negotiating, you might unknowingly be leaving money on the table that they already had ready to give you. Take charge of your career & ensure that you are getting what you’re worth!

XO Denise

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Tips For New Managers

Everything that I am, I’ve worked hard to become. Don’t ever be afraid to be ambitious!   

In June 2016, I was promoted to my first management position at IPSY. Though I was eager to make my transition & take on new responsibilities, leading & motivating my team, I remember that I still had a lot to learn. This is why I want to share my tips for new managers today.

Up until my promotion, I was only responsible for my success in my role. It’s always been easy for me to identify how to fulfill my expected tasks & responsibilities, both quickly & efficiently. But now as a leader, I know that my success is dependent on the performance of my team. Their ability to exceed expectations reflects on me as an effective leader, & I can’t feel confident as a “GOOD” boss without seeing my team happy & thriving. So if you’re currently stressing about your transition into a management position, here are some tips to hopefully inspire you & get you started in this next chapter of your career!

Define your personal definition of a “GOOD” boss 

Think about every boss you’ve had in your career. Over time, I’m sure you’ve developed a clear vision of how a good boss looks & acts. Use your former bosses as a guideline into who you want to become. Focus on the positive qualities you want to develop as well as the negative qualities that you want to avoid. 

To me, a good boss takes a genuine interest in everyone around them & wants to see everyone succeed. They are effective communicators & believe in the abilities of their team without needing to micromanage. A good boss knows how to delegate responsibility & work toward overall success for the benefit of everyone. They give praise & credit when it’s due, & they have high emotional intelligence. When you create your personal definition of a good boss, you know what you’re striving for. It’s hard to be an effective leader if you don’t have a clear & succinct idea of what a successful leader looks and acts like.

Once you’ve defined what you need to do to be a good boss, focus on identifying your strengths & weaknesses. No one expects you to be perfect during your initial transition, but identifying the areas where you can improve will help over time. Self-awareness is the first step to improving. It’s always been easy for me to be a good listener. I’m also resourceful, inspiring, & motivating, but I personally have trouble delegating tasks, due to my pride. It’s important to identify where improvement is needed, rather than pretending that your leadership style is perfect. 

Learn about your team & take a genuine interest

It’s important to know your team and take a genuine interest in their growth. How can you help someone succeed, when you don’t even know who they are or how they think? I prioritize having bi-weekly 1 on 1 meetings to catch up on my team’s personal lives as well as to ensure that they feel supported enough to be successful. By asking engaging questions, I’m able to identify any challenges they may be facing. I also strive to instill them with a growth mindset. Just as I’m doing my best to grow, learn, & improve, I want them to believe in themselves & reach their full potential. 

I always want my team to be able to talk to me about anything that may be hindering their performance & not be afraid to use their sick days & Vacation/PTO (Paid Time Off) when they’re feeling burnt out. Maintaining a good work/life balance is just as important for my team as it is for me.

Create a fun working environment

No one should be forced to work in a boring work environment surrounded by robots. The majority of my day is spent working alongside these individuals, and I want to create a fun working environment where they feel free to express themselves. I want to keep morale high, so I prioritize positive team engagement. 

I don’t shy away from acknowledging success & showing my appreciation for hard work. We dress up according to themes on Thursdays, (Check out the past Theme Thursdays I’ve featured on my Instagram!) & I plan birthday celebrations, team lunches, happy hours, & team offsites. Work should be fun because I want my team to be excited to get out of bed every morning. 

Becoming a new manager can be daunting, but hopefully, my advice will help alleviate any anxiety you may be currently feeling. Be upfront & honest with your team & ask for feedback. They’ll understand while you’re learning & still adjusting to your new role. Whenever I ask my own team for feedback on my management style, I’m continually pleasantly surprised by their kind words & compliments. I love seeing the growth, improvement, & success of my team members over time. I promise that it will all be rewarding in the end. 

XO Denise