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Strategies for Knowing What You're Worth and Negotiating | Women Techmakers Montreal '19

Strategies for Knowing What You're Worth and Negotiating | Women Techmakers Montreal '19

How much are you being paid? How much are you worth? This talk will go over some scary money stuff, ways to recognize a bad situation, and how you can negotiate for a better salary whether you’re getting a new job or getting a raise at your current job.

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Tracy Osborn

March 23, 2019
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Transcript

  1. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Strategies for Knowing What You're Worth and Negotiating
  2. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Negotiation and talking money is scary stuff.
  3. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes (This presentation has a lot of 
 information aimed at women specifically — 
 but is relevant for all!)
  4. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Hi, I’m Tracy! 
 @tracymakes
  5. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  6. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes (I’m currently in the process of negotiating offers myself!)
  7. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  8. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Let’s talk about 
 the scariest moment in my career.
  9. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  10. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes 55% raise
  11. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  12. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  13. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  14. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes There was no reason to pay me more 
 until I asked for it.
  15. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes — Knowing what you are worth. This moment taught me the importance of:
  16. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes — Knowing what you are worth. — How to ask for it. This moment taught me the importance of:
  17. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes I want to be the external force 
 that encourages you to make a change.
  18. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes How do you know 
 how much you’re worth?
  19. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Build a support network
  20. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  21. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Email lists
  22. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes devchix.com anitaborg.org/get-involved/systers/ Email lists
  23. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Slack groups djangoconus2017.herokuapp.com witchat.github.io
  24. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes “I was looking for some suggestions on my job offer. The salary is good for me, especially when I am getting that much right after graduation. The job is great and I am definitely taking it. However, I was wondering if I should negotiate on the salary… I (am) not sure if I should as an undergraduate coming right after college, though I have approximately a year of experience at my internship.”
  25. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Look at salary aggregators — salary.com — glassdoor.com — payscale.com
  26. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes levels.fyi
  27. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes #talkpay
  28. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes You can talk to your coworkers 
 about your salary!
  29. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Don’t wait until you’re unhappy to become informed. Always know your position.
  30. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes What should you do when 
 you want a change?
  31. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  32. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Change how you think
  33. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Society has taught women to shy away from bold behavior.
  34. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Society has taught women to shy away from bold behavior. We fear hurting the relationship we have built with their interviewer / potential employer / manager.
  35. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Society has taught women to shy away from bold behavior. We fear hurting the relationship we have built with their interviewer / potential employer / manager. We tend focus less on what we are giving the employer than on what the employer is giving us.
  36. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Society has taught women to shy away from bold behavior. We fear hurting the relationship we have built with their interviewer / potential employer / manager. We tend focus less on what we are giving the employer than on what the employer is giving us. We tend to take negotiations personally.
  37. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Some books I love on this topic:
  38. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  39. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes “We hold ourselves back in ways both big and small, by lacking self-confidence, by not raising our hands, and by pulling back when we should be leaning in. We internalize the negative messages we get throughout our lives—the messages that say it’s wrong to be outspoken, aggressive, more powerful than men.” Sheryl Sandberg, Lean In
  40. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  41. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes “…it isn’t so much the act of asking that paralyzes us — it’s what lies beneath: the fear of rejection, the fear of looking needy or weak. The fear of being seen as a burdensome member of the community instead of a productive one.” Amanda Palmer, The Art of Asking
  42. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Do small things day-to-day to make it easier to negotiate
  43. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Practice asking. (Don’t be evil.)
  44. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes ✈
  45. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Practice saying no. (Especially in low-stakes situations.)
  46. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes %
  47. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Negotiate the little things.
  48. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  49. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes (Maybe) Get another offer at another company to boost your confidence.
  50. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes
  51. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes What’s the worst case scenario?
  52. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes 5% 20% 25% 50%
  53. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes 5% 20% 25% 50% “Yes, we can do that.”
  54. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes 5% 20% 25% 50% “Let’s meet somewhere in the middle.”
  55. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes 5% 20% 25% 50% “No, we can’t do that.”
  56. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes 5% 20% 25% 50% “No, and we’re rescinding the offer.”
  57. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Would you really want to work 
 for any company with that attitude?
  58. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes “What’s the worst case” helps me 
 take more risks and do more scary things.
  59. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Negotiating an offer should never take someone by surprise. It’s expected.
  60. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes A study done by Linda Babcock revealed that only about 7% of women attempted to negotiate their first salary, while 57% of men did. Of those people who negotiated, they were able to increase their salary by over 7%. themuse.com/advice/how-to-negotiate-salary-37-tips-you-need-to-know
  61. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes A study done by Linda Babcock revealed that only about 7% of women attempted to negotiate their first salary, while 57% of men did. Of those people who negotiated, they were able to increase their salary by over 7%. If you get a $100,000 salary and your co-worker negotiates up to $107,000, assuming you’re treated identically from then on, with the same raises and promotions, you’d have to work eight years longer to be as wealthy as them at retirement. themuse.com/advice/how-to-negotiate-salary-37-tips-you-need-to-know
  62. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes General negotiating/asking tips
  63. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes General negotiating/asking tips — If you’re negotiating general salary, try not to give a 
 number yourself.
  64. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes “I’m open based upon the position and the overall compensation package.”
  65. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes “I’m open based upon the position and the overall compensation package.” “I'd like to know more about the responsibilities and the challenges of the job prior to discussing salary.” and/or
  66. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes If forced to give a number, base your number off your research and data.
  67. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Give a specific number, rather than one that sounds like it was rounded.
  68. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Give a specific number, rather than one that sounds like it was rounded. $64,750 rather than $65,000.
  69. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes “Turns out, when employees use a more precise number in their initial negotiation request, they are more likely to get a final offer closer to what they were hoping for. This is because the employer will assume you’ve done more extensive research into your market value to reach that specific number.” themuse.com/advice/how-to-negotiate-salary-37-tips-you-need-to-know sciencedirect.com/science/article/pii/S0022103113000401
  70. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes General negotiating/asking tips — If you’re negotiating general salary, try not to give a 
 number yourself. — Don’t undercut yourself. Keep the request brief.
  71. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Breathe!
  72. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes General negotiating/asking tips — If you’re negotiating general salary, try not to give a 
 number yourself. — Don’t undercut yourself. Keep the request brief. — Don’t forget to negotiate benefits/paid-time-off as well.
  73. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes General negotiating/asking tips — If you’re negotiating general salary, try not to give a 
 number yourself. — Don’t undercut yourself. Keep the request brief. — Don’t forget to negotiate benefits/paid-time-off as well. — Don’t feel obligated to respond immediately.
  74. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes That said, a timely response can also be a negotiation tactic. “ The only thing preventing me from signing this offer is...”
  75. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Negotiating does not 
 make you a mean person or selfish.
  76. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Negotiating does not 
 make you a mean person or selfish. It is simply asking 
 for something better.
  77. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Recommended resources
  78. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes themuse.com
  79. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes shenegotiates.com
  80. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes shenegotiates.com/blog
  81. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes shenegotiates.com/resources-page
  82. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes shenegotiates.com/resources-page
  83. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Let’s work together to change the culture.
  84. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes — We need to make this commonplace.
  85. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes — We need to make this commonplace. — Continue to talk money.
  86. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes — We need to make this commonplace. — Continue to talk money. — Encourage and mentor other women.
  87. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Remember It is scary talking about money. Be informed — know what you’re worth. No harm in asking. Be supportive of others.
  88. WO MEN TEC H M A KER S TR ACY

    OSBORN @tracymakes Thank you! Find me on the internet:
 @tracymakes tracyosborn.com hellowebbooks.com