454 | Salary Negotiation & Early Retirement | Financial Mechanic

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Brad Barrett | Choose FI Media

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4.8 • 5K Ratings

🗓️ 11 September 2023

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode: salary negotiation, knowing your worth, doing your own research, anchoring, and facing job offers.

We often talk about the importance of shifting out of a scarcity mindset towards an abundant one, and this can mean leaving a job for a new one, or even asking for a higher wage. But how do you overcome the guilty feelings that can arise when wanting to level up? This week we are re-joined by the Financial Mechanic to discuss the art and steps to successful salary negotiating, from doing your research to collaboratively working with hiring managers, and learning to handle the discomfort and self doubt that can come when asking for more. While negotiating can make you feel uncomfortable or even intimidated, it’s important to remind yourself that asking for what you want does not mean you are begging. Rather, it means you know your worth and are advocating for yourself and your future! Though it takes practice, learning how to confidently negotiate can make a difference in your present but make all the difference in your future and your FI goals!

Financial Mechanic:

Website: financialmechanic.com
Twitter: @fimechanic

Timestamps:

1:05 - Introduction
5:21 - The Win-Win of Salary Negotiation
14:40 - Delay Talking About Salary
18:42 - Doing Your Research
25:33 - Knowing Your Worth
29:21 - The Negotiation
36:44 - Negotiation is About More Than Salary
41:10 - Accepting, Rejecting, and Making Your Decision
44:49 - Updates From The Financial Mechanic
53:25 - Conclusion

Resources Mentioned In Today’s Episode:

More Helpful Links and FI Resources:

Earn $1,050 or More With These 3 Cash Back Cards
Share FI by sending a friend ChooseFI: Your Blueprint to Financial Independence
Find a new side hustle with one of our Educational Courses
Commission-Free Investing with M1 Finance

Transcript

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0:00.0	Hello and welcome to Choose If I. Today in the show we have a real treat. We have the return of the
0:04.8	financial mechanic and her episode 211 is one of the absolute most enduring episodes of our entire
0:12.2	600 plus episode run and it frankly is one of the most popular of all time and for good reason.
0:18.0	She gave us a step-by-step script on how to negotiate your salary and it was just an absolute
0:24.3	revelation to me when I learned this. It was one of those things that I wish that I knew when I
0:29.2	was 18 or 22 because it would have made a significant difference in my own life and I know it's
0:35.6	positively impacted hundreds of thousands of people and she's back to give us an update to talk
0:41.6	about negotiating in all aspects of life and how this can benefit you and to give a little update
0:47.5	actually wonderfully on where she's been in the last three and a half years and I think you're
0:52.0	going to be really really interested. So with that, welcome to Choose If I.
1:03.6	All right, financial mechanic who we're going to call mechanic because that's quite a mouthful.
1:07.2	Welcome back to Choose If I. It's so good to have you here.
1:09.8	I'm so glad to be back and I'm so glad to hear how impactful that last episode was to so many people.
1:16.3	So yeah, thanks for having me.
1:17.9	Yeah, it really made just a huge difference. It's a total game changer and
1:22.4	your episode we had Tori Dunlap on talking about salary negotiation. We also Chris Hutchins on
1:27.9	talking about how to get any job and those three episodes that trifecta have helped,
1:32.6	I mean, literally tens of thousands of people if not more. So a huge thank you for you doing that
1:37.7	for coming on and the impact that you've had is you really honestly can out imagine how many dollars
1:43.4	of additional salary people have gotten in our community from that episode.
1:47.2	I love to hear it. I think it also translates to time, right? All these people are negotiating,
1:52.1	getting this money and now they don't have to work as long and I love to hear it. I love to get
	...

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