It’s finally happened: 2022 is the perfect time to negotiate.
Companies have set aside the largest amount for wage increases since 2008 . The Great Resignation has led to an unparalleled War for Talent, and employers are ready to pay for the workforce they need. Finally, it costs companies up to twice as much to replace a worker as it does to keep them, so employers are highly incentivized to keep their staff happy (that’s you!).
We know from research that women who don’t negotiate leave up to a million dollars on the table over the course of their career. Margaret Neale from Stanford puts this into context, showing that these women will have to work 8 years longer to retire with the same savings. These are theoretical examples, of course.
If you want to know what kind of impact a raise would have on your long-term financial picture, try our NEW negotiation calculator. Just put in your age, salary and estimated raise, and it will show you the financial benefit of negotiating. Download the Negotiation Calculator here.
If you’re going to take advantage of the opportunity to negotiate, here are our top 3 tips:
1. Use a communal ask. Research has proven time and again that this will improve your negotiated outcomes and your relationship, allowing you to sidestep the double bind and virtually eliminate the risk of backlash. Brush up on your skills by enrolling in our new Chairmanme course launching in JUST TWO WEEKS. In addition to 6 hours of content, you’ll get an additional 6 office hours, to discuss whatever is on your mind. Since our coaching is temporarily paused until we can train more coaches, this is the next best thing to ensure you get the most out of your negotiation. Use the code WORTHMORE to save $200.
3. Reward yourself!! Need an idea? Check out our list of 42 ways to reward yourself.