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Salary negotiation workshop simulation

Corporate counsel women of color 12th annual career strategies conference September 21-23, 2016. Salary negotiation workshop simulation. Part 1-lobbying for the promotion and making the ask. Why negotiate?. Negotiation Skills Matter. Career Related?. Equal Pay Day 2017. Women- April 12

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Salary negotiation workshop simulation

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  1. Corporate counsel women of color 12th annual career strategies conference September 21-23, 2016 Salary negotiation workshop simulation Part 1-lobbying for the promotion and making the ask

  2. Why negotiate?

  3. Negotiation Skills Matter

  4. Career Related?

  5. Equal Pay Day 2017 • Women- April 12 • Asian American – March 15 • African American – August 23 • Native American – September 14 • Latinas – November 1

  6. Lobbying for the promotion and making the ask

  7. Three questions • When do you ask? • Who do you ask? • How do you ask?

  8. When do you ask? • Consider the timing • Time of year: Is your annual review period the right time? Be aware of what is going on with the company and with your supervisor in that moment. Be flexible. • Do not overshoot your target • If the new job is a substantial upward move, be sure to have a solid case as to why you are ready to make the jump • Enter prepared • The actual conversation is a small part of the negotiations. Roughly 80% of the work should be done beforehand.

  9. Who do you ask? • Make sure you have the right target for the ask • If someone other than your immediate supervisor is the decision maker, consider whether 'pre-work' is appropriate. • There should be something in this for your supervisor (or supervisor-to-be). • Determine what that is and make it a part of your case. • Enlist your sponsors, collaborators, and cheerleaders • Allow others to sing your praises when possible. • What have you done for me lately? • Write down a list of the milestones and achievements that support your argument for a promotion (or better yet, keep a running list). Make sure your sponsors, collaborators, and cheerleaders have a copy.

  10. How do you ask? • Make your case in a manner that allows the decision maker to see the personal benefits to him or her. • For example, the potential to advance a key initiative that requires your unique skill set. • Explain why is the promotion important to you. • Define "value" on your own terms. Is the job you want the job that's available? If not, can you re-shape the role? • Do not assume that promotions are based on merit alone. • Determine what your corporate culture values besides a job well done, and highlight your strengths. • Measure your expectations • A short-term fix to an ultimately broken career path may not be what is best for you. Your contributions need to create value, and you should be perceived as the most logical choice for the new role.

  11. To discuss… • Can you identify your sponsors, collaborators, and cheerleaders? • Have you marshaled your accomplishments? Can you talk about them? • How do you define the value that you bring to the organization? Does it align with the way that your corporate culture defines value?

  12. Making the Ask: post-meeting exercises Setting the stage for your next promotion negotiation

  13. Exercise 1 – identify your sponsors, Collaborators, and cheerleaders • Internally – list everyone who would actively support your promotion. Do they know about your accomplishments? What can you do to keep them better informed? • Peers – do you have a brag buddy? If not, can you identify one? • Externally – are there individuals outside of your organization with power and influence who could support your promotion? List them.

  14. Exercise 2 –Marshall your accomplishments • How have you become more valuable to the company since starting your position? Be specific. • What measurable results have you delivered? Can you qualify them in terms of dollars? • Has your communication improved? How so? • Are you more efficient than before? How do you know? • Do you know the business better? How does this translate to the company’s bottom line? • Have you developed new skills? What kind?

  15. Exercise 3 – defining value How do you demonstrate your value? How does your corporate culture define value? Job flexibility? Commitment to your supervisor (as opposed to the team)? Corporate collegiality? Willingness to take on less-desirable assignments? Creativity in your role? Something else? • Long hours? • Compensation trade-offs for the 'greater good'? • Putting the team before the individual? • Loyalty/longevity? • Sacrifices in your personal/family life? • Something else?

  16. Resources • http://www.wsj.com/articles/women-in-elite-jobs-face-stubborn-pay-gap-1463502938 • http://www.aauw.org/files/2016/02/SimpleTruth_Spring2016.pdf • http://www.jec.senate.gov/public/_cache/files/0779dc2f-4a4e-4386-b847-9ae919735acc/gender-pay-inequality----us-congress-joint-economic-committee.pdf • Linda Babcock Women Don’t Ask** • http://www.iwillteachyoutoberich.com/blog/how-to-ask-for-a-promotion/?utm_referrer=https://www.google.com/ • http://www.forbes.com/sites/dailymuse/2013/06/17/why-women-must-ask-the-right-way-negotiation-advice-from-stanfords-margaret-a-neale/#4a49f1891635

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