506 - Negotiating a Salary (Without Being Lowballed)
Modern Mentor
Macmillan Holdings, LLC
4.3 • 726 Ratings
🗓️ 11 June 2018
⏱️ 7 minutes
🧾️ Download transcript
Summary
Companies use tricks to pay you as little as possible. Negotiate with integrity and honesty, and be firm.
Read the transcript at https://www.quickanddirtytips.com/business-career/communication/negotiating-a-salary-without-being-lowballed
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Transcript
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| 0:00.0 | This is Steveer Robbins. |
| 0:01.9 | Welcome to the Get It Done guys, quick and dirty tips to work less and do more. |
| 0:09.5 | Today, we're going to be discussing negotiating a salary. |
| 0:13.2 | Your salary is one of the most important elements of a job package. |
| 0:16.3 | At almost every company, raises are calculated as a percentage of base salary. |
| 0:20.4 | So if you have a starting |
| 0:21.2 | salary of $10,000 and you do a great job and you get a 10% raise, you'll end up making $11,000. |
| 0:27.7 | If you have a starting salary of $15,000, which is $5,000 more, do a great job and get a 10% |
| 0:34.2 | raise, you'll be making $16,500. That's $5,500 more than the $10,000 starting salary. |
| 0:44.3 | That's a $500 difference depending upon whether the starting salary was $10K or $15K. |
| 0:50.5 | With equivalent performance, a slightly higher starting salary turns into much, much more |
| 0:55.8 | money over your entire work history. Companies hate you. One of the great mysteries to most |
| 1:01.0 | economists today is why since the 1970s overall salaries haven't gone up for the bottom 99%. Frankly, |
| 1:08.3 | their mystification mystifies me, I think it's pretty obvious, because hiring managers, human resources managers, and executives |
| 1:15.0 | have decided not to raise wages. |
| 1:17.4 | That's the only thing that would keep wages from going up. |
| 1:19.8 | The reason, of course, is because they hate you. |
| 1:22.4 | Oh, no, no, I know. |
| 1:23.2 | If you talk to them individually, they would claim they don't. |
| 1:26.2 | But crippling someone's salary |
| 1:27.6 | for life is one of the most hateful things you could do to another person. So even if they |
| 1:31.5 | have lots of other rationalizations for all intents and purposes, their actions are, in fact, |
... |
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