Maximizing Your Worth: Salary Negotiation Tactics
Welcome to the Executive Connect Podcast. In this episode, Melissa Aarskaug dove into the art of salary negotiation for professional women with executive coach Aaron Thweatt.
00:00 – Introductions and overview
01:56- Understanding the Challenges of Salary Negotiation - Navigating salary negotiations can be daunting, especially with the lack of societal support and guidance. Preparation is key, from understanding your market value to grasping the company's job scope.
04:56 - Preparation and Strategies for Negotiation - Preparation involves knowing your worth and the job's parameters. Negotiation starts early, even during initial conversations. Gathering data and understanding the company's compensation philosophy are crucial.
13:00 - Mistakes to Avoid and Overcoming Obstacles - Ninety-nine percent of the time, it's worth negotiating. Don't leave money on the table due to fear or assumptions. Advocate for yourself; you deserve it.
15:12 - Negotiating While Currently Employed - Don't wait for a job offer to negotiate. Even if you're currently employed, you can discuss raises based on your market value and performance.
21:02 - Timing and Strategies for Effective Negotiation - Understand the timing within your company's budget process. Start priming your manager early, and ensure clarity on your performance. Don't wait until the last minute to discuss your worth.
27:43 – How to Determine your Value in the Market – Thanks to pay transparency laws in several states, you now can research similar job descriptions for various hiring organizations. Also, tap into your network to see who is making what where.
The most important takeaway is this - effective negotiation involves ongoing communication and clarity on performance. Don't wait for opportunities; create them by advocating for yourself.
Thank you for joining us on this episode of the Executive Connect Podcast. Subscribe for more insights on leadership and personal growth. Until next time, keep connecting and leading.
Guest Bio:
Aaron Thweatt is a dynamic Executive Coach and seasoned HR professional driven by a firm belief in the power of an individual’s potential. His mission is to create meaningful connections between talent, ambition, and purpose by empowering ambitious people to use their voices to advocate for themselves in all realms of life, career, and business.
His past decision-making roles within HR and compensation at Fortune 500 and high-growth technology companies (AECOM, Activision Blizzard, SpaceX, and DoorDash) allow him to empower individuals to successfully and confidently manage all conversations around their career advancement.
From salary negotiations, being promoted, finding a new role, or developing clarity on switching careers, those who work with Aaron are empowered to maximize their earnings and seize greater opportunities across industries.
Website: https://www.resparkcoaching.com/
X/Twitter: @aaronthweatt
Instagram: @aaron_thweatt
About Melissa Aarskaug:
I’m an energetic executive with 15+ years of experience steering companies to new heights of growth and scale. An engineer at heart (I started my career as an engineering manager on one of the world’s largest concrete bridges), I’ve become a trusted leader and business builder in the technology and cybersecurity space.
Personal LinkedIn - https://www.linkedin.com/in/melissa-aarskaug/
Podcast LinkedIn - https://www.linkedin.com/company/my-executive-connect/
Website - https://www.executiveconnectpodcast.com/
