Okay, LADIES! LISTEN UP!
MONEY IS GREAT! WE WANT MORE OF IT! WE DESERVE MORE OF IT! I’M JUST REALLY FIRED UP AND WANTED TO USE ALL CAPS!
Today, my best friend Justice and I attended the first LMHQ Women’s Breakfast of the season, featuring Ladies Get Paid here in New York City and it was amazing. We talked about how to negotiate effectively not for the salary you’d be *okay with*, but for the salary you *want and deserve*. It was so informative and eye-opening and it really gave me a much needed reality check… a lot of us are in the same boat! And if we talk about these things openly with our friends i.e. voice our anxieties, our fears, but also our hopes and goals and make game plans…then it all feels a little less scary and daunting to navigate and will hopefully fuel our fire to get all of our ducks in a row.
** I am so grateful that a couple of friends mentioned this event to me, I totally plan on going to more of these (financial / business / networking events) if you have any recommendations or would like to join me in the future **
Here are some key takeaways that I got from this event:
Let me start this off by saying Claire Wasserman, the founder of LGP, is so lovely and knowledgeable and a phenomenal speaker and she also loves manicures and shoes as much as I do so… soul sisters?
“The power of your network is not about who *you* know. It’s about who *they* know.”
You’ve heard this one before, but it really is about who you know and who your friends know and could they introduce you and so forth. “The Spiderweb” of connections is how Claire described it and it’s true! What is the scope of your network? Write it out on a piece of paper and draw a web of who you know, put yourself in the middle and see how it branches out. I did this months ago for fun and it was so interesting to see where it went!
“I want to make more money because___________.”
Think about why you want that money. What will it add to your life? Some examples that women blurted out in the group were: I want to make more money because freedom, travel, house, retirement fund, security, investing and so on. These are all things that I would love to work towards as well. And these are all things that we deserve, don’t forget that.
▪️Shift your mindset
Negotiating is an opportunity.
There are sometimes the subconscious worries of “Well I don’t want to come off too aggressive” or “I’m worried they won’t be like me if I voice this” or “I don’t want them to think that I’m ungrateful.” But just remember to put it in perspective…. Negotiating is just a part of everyday business culture! This is normal and people do it! The important thing to remember is *how* you’re negotiating. Make sure that you are well researched and well spoken. Preparation is key. Claire emphasized that we should practice our pitches, say them out loud so we get comfortable saying the words.
“The strongest negotiators are ready and willing to walk away if they don’t eventually land on a figure they are happy with.”
This is also a blessing to be able to do that, since you obviously need to have your savings in order. But if you can manage it, walk away from a situation if you know it wont make you healthy and happy and go to your next interview.
▪️Understand your market value
So where do I even look to figure out what my market value is? How do I figure that out? Here is a slideshow photo of the types of people/resources/companies to research and reach out to. Claire and a couple of other ladies had wonderful things to say about Payscale and it’s resources.
Another awesome term I learned today was Power Mapping. When you’re researching a prospective company and its job opportunities, figure out how long people stay there, how often people move up, who the leaders are (aka are there female leaders, too), is there room for growth within the company, etc. Mapping this out will not only help you understand the company itself better, but also will help you see if this is the type of company you could see yourself at as well.
Speaking about your ballpark figure, something I had never heard before was that you can email headhunters and recruiters on LinkedIn and ask how much people in your position with your skill sets get at other companies. (If they reply) they can give you a knowledgeable figure with proof and insight.
Next vocab word to learn: Portal Person. We all have someone in our lives who know seems to know everyone, who always have a connection somewhere. Who is that person in your life? Would they be willing to reach out to their contacts on your behalf? Write them an email that concisely tells readers who you are, what your skill sets are, what industries you are interested in and see if they would be comfortable forwarding that to their people. Maybe your Portal Person has a colleague looking for a new employee and you’re the perfect match!
Don’t be afraid to ask… “What’s the ballpark you make?”
Yup, we all know how uncomfortable this can be. Someone asks how much you make and you don’t want to give them the exact number. It can feel weird and awkward. But if a friend asks how much you make, why not give them a range withing 5-10k of what you make? Say you make 55k a year… A friend asks your ballpark… You say “I make between 47k-57k a year” or “I make between 53k-58k a year.” See? You helped them gauge your ballpark and you did’t have to give an exact number!
And that wraps up my overview from today! There was a lot more content, but I think this was a good start! So many nuggets of wisdom, happy I can share a few of them here and I hope this was helpful!
All in all, the most important takeaway from today is reminding myself that I am my biggest advocate. If I want to a make a change, it is up to me and only me to do my research, prepare my talking points, make a plan, brainstorm bigger, reach out to my contacts. No one is going to do the work for me (DUH, LIFE!). And it was also nice to remember that I am not alone, I am not the only one stressing about this kind of stuff.
And if all else fails, just remember… WWWMD? (What Would White Men Do?)*
*Actual joke and true statement from today’s event