Here’s why you should always ask for a raise. https://t.co/1PDQC8vASB
— CNBC (@CNBC) June 4, 2018
Instead of going in and asking your boss, “How can I get more money out of you?” The real question is how can I do a better job, which gets interpreted by the boss of “How can I make you look better?” You make your boss more effective. You will push your boss’s career at . . . you know the old phrase “What’s in it for me?” When you go in and you want something from your boss and your boss asks him or herself the same question. “You come in here with your hand out, you know, what have you done for me lately?” This is what employers/managers/bosses are asking themselves.
Because so few people are willing to do this, the minute that you start doing this you’ve given yourself a clear competitive advantage.
Understand where the company is making money, and learn how you can help. The more you do, the omre you can help directly. You want to get paid more, become more valuable.
Voss delivers on many negotiating situations.
Yes is commitment. No is protection.
Do you want me to fail?
[Well, that answer is clearly a no, and now we have to talk about what the terms are that are necessary for success.]
He knew they were going to underpay him and not give him enough authority. So he asked them, “Do you want me to fail?”
They said “No,” and they renegotiated their deal.
Questions like that can make a really big difference.
Prospect theory assumes that losses and gains are valued differently, and thus individuals make decisions based on perceived gains instead of perceived losses.
Perceptions of Gains & Losses
People put a value of losses twice what an equivalent gain is. Losses are twice as heavy as gains. 5 to 7 times. Losing $5 stings at least twice as much as gaining $5. Skewing in our brains over loss.
Prospect theory: if you think what you’re offering is worth $100 and only charging $80, they’re not going to make that exchange. Paying $80 for something, it’s got to be worth $160 in our heads.
An accusations audit?
People are more likely to do things to avoid losses.
What’s going to be lost if this isn’t done?
Taking people hostage to the future. If I can convince you to do all this work for me for nothing, all this business will come your way as a result, which is actually done a lot in the business community. Come and do this business at a cut rate, and we’ll introduce you to all this business and you’ll be fabulously wealthy as a result of our referrals. Well, if you can buy into getting all that money, now you’re being taken hostage to the future abd you’ll do the business for nothing because now you’re afraid of losig those referrals. Common and people catch onto it.
Not doing this deal, costs you everyday. If you do nothing, you lose. If you don’t address this issue, it’s going to cost you. If the status quo becomes loss, then people are more likely to make a decision to make a move. Because of prospect theory. The fear of loss in our head is huge.
My notes . . .
“What?” & “How?” should be the form of any question where you’re gathering information.
No is “How am I supposed to do that?”
You’ve conveyed to them you have a problem, something we refer to as “forced empathy.” because one of the reasons we emphasize tactical empathy is that we want the other side to see our position, constraints fairly. How am I supposed to do that? You’re right, you can’t. They felt she said I can’t do this anymore. It establishes a limit that doesn’t back the other side into a corner.
If they reply “Because you have to!!!” [is not them terminating the deal or giving you an ultimatum; it’s them saying, no, I’ve got no more room to give without the negotiations breaking off] what you’ve just found out is that they’ve just been pushed as far as they have been on that issue about as far as they’ll go. That’s good information. What do you do with someone who’s been pushed?
Have I gotten everything I could from what is on the table on that particular term? So while giving the other side the Illusion of control while signaling limits, is a great way of staying in the conversation and not leaving anything on the table.
How am I supposed to that? “If you want the house, that’s what you’re going to have to do.” Which is a confirmation that they’d gotten as much as they could out of that term. It’s a great way to give the other side the illusion of control. Many people need to feel like they’re in control in a negotiation. If they feel like they’re out of control, then they’re impossible to deal with. If the other side feels like they’re in control the more amenable they are to collaboration. You really don’t want people to feel out of control.
One of the challenges to finding the right job at Craigslist is the fact that the posters very rarely post the wage for a position, unless it is a customer service or driving position that might pay $12 to $13 an hour. But if it is a sales position or a tech position, the usual refrain is “EARN $50k to $240k.” That’s so large of a range that it is nearly meaningless. This means that you’re going to have take your salary negotiating skills to a whole new level while you’re in the middle of a job interview. But there are places where you can find what certain jobs pay. Business Insider has done some of the work for you. See it below. Also, when you search for salaries or top paying jobs, be sure to specify your industry, like “top paying jobs tech industry” or “top paying jobs IT Manager.”
Glassdoor just released its list of the 25 best-paying jobs in the US for 2016, and, as usual, tech jobs dominated the list.
Glassdoor sifted through the salaries reported by employees who have these jobs, limiting its search to salary reports from the past year, to come up with median salaries.
The website also looked at the demand for these jobs, based on the current number of job openings on its site.
Median base salary: $106,000
Number of job openings: 147
An information systems manager is an IT job for a corporation, a person who is responsible for various tech and tech projects used within a business.
Median base salary: $106,000
Number of job openings: 988
It is the analytics manager’s job to gather the data that business leaders use to make business decisions, and it runs the gamut from choosing and managing big data/analytics systems to finding the important insights to share.
Median base salary: $107,000
Number of job openings: 7,758
A product manager guides a team responsible for producing a product for the company. Tech companies frequently structure themselves with product managers who act as liaisons, translating what the business wants from its new tech products into instructions for engineers.
Median base salary: $113,000
Number of job openings: 762
A data architect is a role that once belonged in the world of databases but has grown because of the big-data craze. Data architects design data-management systems, looking through all of a company’s potential data sources from inside the company and other sources and then figuring out how to gather, store, manage, and update.
Median base salary: $115,000
Number of job openings: 1,985
The data scientist has become a super-hot job as companies look to store more data and use it for more insights. The data scientist’s job is to run the systems used to store data and to find those insights in massive amounts of data.
Median base salary: $116,920
Number of job openings: 439
A systems architect designs complex IT systems for companies, which may include rolling out a new huge software system including the new computers and networks needed for it to perform well.
Median base salary: $120,000
Number of job openings: 263
An applications development manager supervises a team of application developers who may be writing software for PCs, enterprises, or the web.
Median base salary: $120,000
Number of job openings: 2,838
A solutions architect is a role that is often at the consulting arm of a software provider or IT company. This person helps design the IT systems that meet the customer’s need.
Median base salary: $120,000
Number of job openings: 3,152
An IT manager is responsible for the technology used by companies such as their PCs, servers, and the software the company buys.
Median base salary: $128,250
Number of job openings: 655
A software architect designs complex computer software.
Median base salary: $132,000
Number of job openings: 3,495
A software development manager manages a software project from the design phase through completion.
Chris Voss, ex-FBI hostage negotiator, gives excellent advice on how to ask for a raise without getting demoted or fired. Watch this short video.
What follows are my transcripted notes of his presentation:
You want to push your opponent to the highest limit of a negotiation range without taking them out of the comfort of that range. People respond to ranges where they won’t respond to specific numbers. When they ask you how much you’re looking for, your first response to that should be “Are you making me an offer or are you just fishing?” Give them an opportunity to respond to that. Again, when they ask you about salary expectations, say, “I am sure you have a range in mind.” Take the end of it that favors you. They’ll actually feel somewhat relieved that you’ll want to stay at that number.
If they’ve given you a number that doesn’t work for you, the first response is the world-class way of saying “No” and keeping the conversation going, “How am I supposed to accept that?” which let’s them know that it’s really a problem for you. You’ve empowered them by giving them the opportunity to make it better. Always important in any negotiation to be able to say “No” pleasantly. So be pleasant. They’re going to evaluate you in a job negotiation about how well you can represent them! and represent their interests and be pleasant while you’re doing it.
Gary North has good insight on how to deal with employers and raises. Check this out . . .
Do not expect to be appreciated. If they are not giving regular raises, you are not appreciated. If they are loading on extra hours, you are not appreciated. You are simply a pack mule. You will be exploited, not appreciated.
This is why you have to be working systematically to develop your reputation outside the business. You have to let them know that they do not have their clamps on you. If they think that you have no alternatives for employment, they will treat you unmercifully. Expect this. It is standard operating procedure in business today. They don’t expect loyalty on any basis except this: fear. They don’t offer loyalty, and they don’t expect it. This was not true a generation ago, but it is true today.
When the bean counters from the business schools began to take over American business in the 1970’s, that ended loyalty downward. On this point, you would be wise to read The Puritan Gift. It shows the world we have lost. I don’t think we’re going to get it back. We may get it back in small, upstart businesses, but not in a business that has been operating for more than 40 years.