Nerd Journey 028: Asking For More Money

Welcome to episode 28 of the Nerd Journey Podcast [@NerdJourney]! We’re John White (@vJourneyman) and Nick Korte (@NetworkNerd_), two VMware Solution Engineers who are hoping to bring you the IT career advice that we wish we’d been given earlier in our careers. In today’s episode we discuss asking for more money! Original Recording Date: 2019-02-26 Topics – Asking for more money as a raise and when you’re being hired 4:52 Asking for a Raise Source: 4 Tips For Snagging More Than A Cost-of-Living Raise Stand Up And Stand Out Do the job that the next level deserves How do you know about whether there are different levels of seniority when you’re interviewing? Balance against exploitation Make sure you’re taking on work that matters to your management team Measurable accomplishments Solicit feedback on tracking towards review/raise periods This requires planning over the year running up to a review period Be Assertive Some managers will only give higher raises when it’s asked for – John’s reaction: Yikes! Back Up Your Claims Track your performance to measurable things Have it a regular topic in your 1-on-1s, so it’s not a surprise Manager Tools: Professional Success Section Prepare Answers To Possible Questions Document and have it ready Go over accomplishments before the review period to arm your manager Include money you made or saved the company to combat "We just don’t have the budget" excuse Nick points out that documenting extra responsibilities also serves as resume points if the company thinks that your awesome extra effort doesn’t deserve a raise 30:42 Negotiating a Starting Salary Source: How Much Salary Negotiation Is Too Much? Respect the Line Set a Target Range Do Your Research Your relevant experience, education, and success stories Market rate: Glassdoor or other sites Cost of living Pay band should have been discussed earlier with the recruiter Is the negotiation with the recruiter or the hiring manager When dealing directly with an org Initial qualification with the recruiter Final negotiation with the hiring manger When recruited by a 3rd-party recruiting company That person is like an agent interested in placement Then they’re interested in placing at the highest salary possible Don’t disclose your minimum; They’re not an impartial party in the negotiation Geek Whisperers Episode 137 – Advice for the Job Hunt with Recruiter Liz Bronson Be sensitive to making the hiring manager use a lot of political capital to get you your max salary Should be about your requirements and needs, not ego John’s anecdote Can mean your expectations are to out-perform from the beginning Can mean you’re not getting a raise for a while Weigh Salary Against Benefits Perhaps there are things you can negotiate instead of budget e.g. Vacation seniority What if their healthcare plan is cheaper than your current one Are you moving to a lower cost-of-living area? Are you closer to where you’re going to be working? Do Not Anticipate A Fixed Number Of Rounds Getting your number right away isn’t worse than a tough negotiation for it Don’t presume the first offer is a low-ball How often has John negotiated his entry salary?