A few takeaways from last night’s Women in Revenue event “Negotiate to Elevate” where our esteemed panel including Anne Pao Simina Simion Lena Savitsky and Jennifer Pockell Dimas shared their expertise on the art of negotiation. As a bonus, I’d also like to share a book reco that my friend David Garcia mentioned recently on this topic: Never Split the Difference by Chris Voss. Key insights on negotiation - WHAT WOULD YOU ADD TO THIS LIST? Know your value and add a tax. Ask for more than you think you’re worth - you just might get it. Negotiate your divorce during the honeymoon phase. That is, set terms for your exit upon entry into the company since you’ll never have more power in the relationship than you do at the offer stage. The more info you have on what the other party can give, the more leverage you have. Use your network to get as much of this info as you can. Do your research. Talk to a friendly in HR. Surround yourself with your personal “board of directors”….have all of these among your friends: leaders in HR, legal, finance and in your own area of expertise/industry. These folks can help you navigate sticky situations throughout your career. Be prepared to walk away from every negotiation to maximize your power. The right opportunity is available to you, in any economy. No deal is better than a bad deal and deadlines are always your friend in a negotiation (hint: some deadlines are fake). Dear readers: what tips would you like to share? Please add in the comments to help the community! Jill Melchionda Michelle Kim Channa Bannis Debe Rapson Michelle Ji-Yeun Kim Danielle Wegenstein Katherine Grunert Lauren Shleifer Goldstein Shari Johnston Mercedes Vescovi Yvonne S. Sarah Squires
I would add this...Become friends with an Executive Recruiter who knows the market and knows how you can get the biggest comp package possible. 😎
Even though the job market is tough, you really want to be interviewing them as much as they are interviewing you... no one wants to change jobs (or have employee turnover). Ask the tough questions and show them how sharp you are... interviewing them actually sells YOU (it builds their confidence in you)! Once it's a love match, you've earned the right to ensure your needs are met. If you are happy then your employer will be happy!
Love EVERYTHING ABOUT THIS POST Lisa (Ramirez) Ames! >>>The guidance is SPOT ON- and I can attest to NOT having been savvy in all my negotiations. >>>I would add - build a growth plan into your negotiations. >>And love that this incredible and competent group of women can also be fun! Darling picture!!! (Especially love your pose Debe Rapson 💝)
Lisa (Ramirez) Ames know your value (courtesy of Jennifer Pockell Dimas ). If I can’t articulate what I can bring to the table, I don’t know my full worth. Also, know what you’re good at and what you WANT to do. The nightmare scenario is finding yourself in a job that might have th e “right” title and pay yet the work doesn’t align with what you can bring to the table. Also, heavy plus on “know your value and add a tax”!!
Get clarity on what's most important to you so you can prioritize your negotiation. You can't ask for everything.
I second Debe Rapson's point. This is just as much about you interviewing them as it is about them interviewing you. Ask for what you want and know you deserve and be upfront and honest at the start of the relationship.
Per Chris Voss: Getting to 'No' is a beginning not the end.
SUCH FOMOOOOOOOOOOO
Katherine Grunert so great to see your consistent contributions to an amazing org. Cheers!
CMO | Operating Exec | Advisor | Strategist | "Business Therapist"
2moThat’s a goodie Irina Jordan! Thanks for sharing.