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How to Get the Raise You Deserve with Claire Wasserman

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January 27, 2025

TLDR: Claire Wasserman shares tips on negotiating compensation packages, perks to ask for when companies can't afford salary increases, and methods to improve work, wealth, and worth in this episode of Money Rehab taped with Nicole before her maternity leave.

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In this episode of Money Rehab, host Nicole Lapin converses with Claire Wasserman, a renowned career coach and co-founder of Ladies Get Paid, focusing on effective strategies for negotiating raises and improving salary packages. Claire offers listeners actionable advice grounded in research and her experiences working with women in various industries.

Key Highlights and Strategies for Negotiating a Raise

Importance of Negotiation

  • Negotiation is Always Possible: Regardless of initial statements from employers about salaries being non-negotiable, Claire asserts that negotiation is essential. The first offer is merely a starting point in discussions.
  • Conduct Thorough Market Research: Claire emphasizes the need to engage in market research beyond standard platforms like Glassdoor. Connecting with individuals in similar positions through professional networks like LinkedIn can provide valuable insights into compensation trends.

Language and Approach in Negotiations

  • Positioning Your Ask: When negotiating, it’s crucial to frame requests in a way that shows potential mutual benefits. For example, position your salary inquiry as not just a personal request but as part of a larger movement toward equitable compensation.
  • Collaborative Tone: Use collaborative language to foster a sense of partnership with potential employers, such as, "How can we figure this out together?" This approach can help navigate tough conversations about compensation.

Timing Your Requests

  • Strategic Timing: Claire suggests initiating discussions about raises during reviews or after significant accomplishments, making sure to align the discussions with the company’s budgeting cycles.
  • Be Prepared to Discuss Your Growth: When approaching your employer, present concrete examples of how your role has evolved and contributed to the company's success.

Creating a Compelling Case for Your Worth

  • Quantify Your Impact: Prepare examples of your achievements and how they have positively impacted the company’s bottom line. This evidence-based approach helps illustrate your value.
  • General Ask vs. Specifics: When discussing compensation, offer a range of salaries rather than a fixed number. This makes it easier for employers to consider your request while still allowing you to get at least your minimum acceptable salary.

Benefits Beyond Salary

  • Consider Alternative Perks: If salary negotiation isn’t productive, consider negotiating for other benefits such as flexible work hours, additional vacation days, or professional development opportunities.
  • Think About Long-Term Value: Focus on how your contributions can lead to long-term benefits for the company, justifying your salary increase through demonstrated added value.

Insights on Gender-Specific Challenges in Negotiation

  • Addressing the Gender Pay Gap: Claire acknowledges the unique challenges faced by women in negotiations and emphasizes having strategies tailored to overcoming these barriers.
  • Changing Mindsets: Empowering women not only to negotiate their worth but also to recognize their value in the workplace is a central theme in Claire’s coaching philosophy. Women often undervalue their contributions, and she encourages reframing these thoughts.

Conclusion: Take Action and Reflect

No Risk, No Reward

  • The Importance of Asking: One of Claire's critical takeaways is that if you don't ask, you will definitely not get. Women, in particular, should challenge the fear associated with negotiations and be proactive.

Continuous Learning and Growth

  • Practicing Negotiation Skills: Negotiation is an art that improves with practice. Claire urges everyone to prepare and rehearse their negotiation pitches to reduce anxiety when the time comes to present them.
  • Personal Growth: Engage with the emotional aspects tied to money and negotiation. Understanding one's worth is essential to effective advocacy for better compensation.

This episode serves not only as a guide for obtaining better financial compensation but also as a reminder of the personal growth required in navigating the complexities of workplace negotiation. Emphasizing collaboration, thorough preparation, and confidence are key tactics to successfully advocate for oneself in any job.

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