How to Negotiate a Fair Salary by Demonstrating Your Value to Employers
Learn effective strategies to determine a fair salary and convince employers of your worth by showcasing your value and potential contributions.
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How to Negotiate Salary After Job Offer Show Your Value in a Counteroffer
Added on 09/25/2024
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Speaker 1: Dennis C, my biggest issue is determining a fair salary and convincing the employer that I am worth that salary. Any suggestions? Okay. I'm going to give you a very high level view of how to make an argument, and for anybody who is in the job search coaching program, we've already built this tool for you, okay? It's another tool that's in the program, but I'm going to verbalize some of the key components for Dennis C and anybody else. When you want to make a counter offer, and you or you or, or, wait, let me set the table this way. If you want to show your value to an employer at the time you are about to receive an offer, or have received the offer, or have received a verbal offer or a written offer, but preferably at some early stage in the offer process, okay? This is when this is ideal. You've gone through the interviewing process, and hopefully you've crushed it, and if you got the interview intervention 10th anniversary training, I'm sure you did, or the bootcamp. When you get down to the end, I say, Dennis, I'm going to give you an offer. I say, Dennis, I'm giving you an offer, it's $100,000. You think, Andy, geez, I think I'm worth more, right? This is what's going through your head. You're not saying this. I think I'm worth more. I would say, okay, first, as your coach, now, when you went through the interview process, did you show your value, meaning I'm showing you how I would solve your problems, I'm showing you the evidence of why I know that to be true because of my experience in the past, and how I'll use it in the future. You are completely clear, completely clear on what success looks like in a year, because if you are not clear about what success looks like, you can't make an argument by how well you're going to achieve that, and the value you're going to create. That means I know that you want me to accomplish these five things. You want me to come in, and you want me to open up a new market. You want me to build out a team. You want me to create a marketing engine. You want me to this and that. You want me to whatever, bump, bump, bump, bump, bump. What I want you to do is I want you to get those in a grid, and actually, if you saw the case study, I think, that I did with Max last week, he talked about the role definition grid. This is what I'm talking about. You want to cite what those are, because from what they want you to accomplish, that's the easiest way to illustrate your value. You want me to help you break into a new market, generate a pipeline of, hire a team of. These are discrete and objective goals. Then, all right, what value are we going to attach? If I'm able to create a pipeline that generates X million in revenue, if I'm able to build a process that hopefully saves us from doing these eight things, that's going to save us a lot of time and a lot of money. Anyway, you've got to make some speculation as to what that's worth, and at a minimum, I would at least have the intangibles in there, but if you can make them tangible or speculate, that's even better. Then you're going to say, all right, here's what I'm going to do to make that happen. Here's what that's worth, give or take. I want to look at that in relation to what I cost you. If I'm going to help you build this out, set this up, hire all these people, train them, do this, do that, do this, do that, and so on, not to mention the infrastructure I'm going to create is also going to be used in future years. I believe that $150,000 or whatever, or whatever counter you're ultimately going to make is more appropriate because, or you could use the rhetorical approach, which is if I'm going to help you achieve these goals, or $200 million, or this or that, does $100,000 sound like a fair and equitable compensation? You can go that route, but there's ways that you want to do this, but until you reframe the way that the person looks at what it is they're offering you, that's very difficult to do. What did I do for you today? What was the one little thing I did? I said, $797 sounds like a lot of money, except you make that in four days. You lose $1,000 a week. Are you telling me I can't help you find your job four days faster, not to mention that you're going to be able to better interview, you're going to be able to negotiate better, and so on and so forth? That was a little micro dot of what I just said. As you go to the employer and you want to create that argument and show the value, the only way you can show the value is if I understand what that value looks like, not today, but in what? Because where's my eyes right now? They're on how much I have to pay you, not the $2 million you're going to make me. You need to get my eyes off the $100 and on the $2 million, or on all the things that are going to go away. If you say, well, I can't quantify it, I don't even care. Test out what it is you're going to accomplish and let their imagination run. Do something to get their mind off what you cost and instead on what you're going to bring to the table. That's why most of you lose the counteroffer argument because the fact that you say, well, I want 120, not 100, I don't care. I don't care about that. I need you to convince me why you're worth that. Then there are other tactics that bring other factors into play that almost have nothing to do with you, but that make me want to pay you more because I'm now saving myself. What's a great example of that? Imagine you get to the table with me. You have this grid in order and you say, Andy, I'm going to accomplish these five things for you, and this is what it's going to result in. You're going to have way more Instagram followers and way more YouTube followers, and Andy, if you had another 100,000 YouTube followers, Andy, don't you know what that would translate into in money for you? I would assume that you're a smart business owner. You would know that. Would that equate to? You could do these things where you're iterating with them to put them on the spot, and then as you're going through all this and you give them your counteroffer and you say, all right, here's what I want and here's how you can make me happy and all that good because this is the value I'm going to bring you, not just because I want it. If you give me that, I will drop everything else that I'm doing and I give you my word I'll take it. Why is something like that important? Because now, even if I don't think you're worth the 120, now what's happened? Biases kick in, sunk cost biases kick in. You and I have been interviewing for seven weeks. I don't like the other two people that are in my recruitment pipeline. If you don't take the job, I'm going to have to start over, and if I have the potential of losing you to somebody else, what am I paying for? I'm paying for the risk to go away of losing you, not because I think you're worth the extra 5K. There are so many things that come into play for you to attain the salary that you can get or what you feel you deserve, but there are so many combinations of things that come into play that you need to factor in and know when to use them and when not to, but showing your value is about showing me what you're going to do and what that means for me, not what you want. I hope that helps, and I understand how this is difficult for a lot of you, and I understand that you're looking at me probably like you've got a third eye, like, how the hell am I going to do this? We give you the forms. We tell you. I give us a whole session on this, on this topic alone inside the program. I hope that helps.

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