New look, new season(kinda), who dis? This episode kicks off the start of Season One 2.0, the Remix, where we will be running back all your fave episodes with added commentary (by me), out takes, bonus content and special offers from some of our guests on the show!
To get things kicked off, we are running back Season One Favorite, Getting Real Coin Part III: Negotiating for Your Life with NBA Senior Team Talent Advisor, Nicole Britenriker. In this episode, Nicole breaks down all the things we need to know to get every penny we’re worth in our next salary negotiations for a new role, raise or promotion. In the age of the Great Resignation, I figured y’all needed this one first. You’re welcome!
Want to learn more about Nicole?
A former professional volleyball player and student-athlete for the University of Kentucky, Nicole Britenriker has served in various roles across the professional and collegiate sports landscape including sponsorships, sales, corporate partnership development, ticketing and currently, talent acquisition and talent management with an emphasis on diversity, equity and inclusion.
If you want to connect with Nicole, find her on LinkedIn at: www.linkedin.com/in/nicole-britenriker/.
Why is this conversation important?. According to the US Census Bureau:
- White, non Hispanic women are paid 79 cents,
- Black women are typically paid 63 cents,
- Native American women 60 cents,
- Latinas just 55cents, and
- Asian American and Pacific Islander women are paid as little as 52 cents
on the dollar as compared to their white male counterparts.
Why are women of color, gay, lesbian, queer, non-binary, gender non-conforming and other marginalized groups are paid less?
External Resources we can use to determine market rate for purpose of salary negotiations
- Glass Door
- Nerd Wallet
- CNN Money
- National Association for Law Placement (NALP)
- University Career Services Department
What is the “point of no return in a negotiation? When have you gone too far with your demands?
- Asking for something that has not yet been discussed at the end of a negotiation
- Initiate salary discussions by the second round of interviews. Don’t wait until the end of a process to have a discussion regarding salary requirements/expectations.
- Don’t OVER negotiate. An employer is unlikely to come back more than twice with a counter offer during a negotiation
How to initiate and navigate salary discussions
- ALWAYS NEGOTIATE. NEVER ACCEPT A FIRST OFFER
- Potential employers CANNOT ask you what your current salary is. Do not feel pressured to share this information unless you want to.
- Share your DESIRED salary range. It’s okay if that’s considerably more than what you’re currently making, especially if your number is supported by the current market rate
- Never toss out the first number, unless required. In that case, provide a salary range and not an exact figure.
- If the employer is being vague about their salary budget, you be vague as well.
- Your counter-offer should be 10%-20% higher than the initial offer
- Weigh the FULL value of the opportunity when making a decision whether or not to accept a role. There may be other considerations that make a role attractive outside of compensation based on your overall career goals/current position.
Red flags to look out for during the negotiation process that may signal a company is not a good fit for you.
- When a company fails to deliver or renegs on promises they made you during the negotiation process
Best advice for negotiating for your life: Be fearless in holding employers accountable for providing you what they promised you and what you deserve
Hosts & Guests
Sydnee Mack (Host)
Nicole Britenriker (Guest)
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