253: Negotiating for More with Kelli Thompson

Today’s guest is someone who wants you to make money as much as I do: Kelli Thompson, executive coach and author of the book “Closing the Confidence Gap: Increasing your Peace, Potential, and Paycheck.”

Kelli joined me on the podcast to talk about some of the biggest myths when it comes to salary negotiations, explain just how much your negative beliefs are costing you, and share scripts to help women confidently ask for more.

While working as an HR professional in the corporate environment, Kelli got to see firsthand how job negotiations played out–and how detrimental those conversations were to women who, for the most part, weren’t confident talking about money.

She made it her mission to see that change, and adopted this mantra: Nothing bad happens when women talk about money.

(I wholeheartedly agree.)

In this episode, we talk about tactical approaches to negotiation, using market data to support your position, and biases that impact your earning potential–so that you can recognize and overcome some of the obstacles that get in the way of making more money and building your wealth.

Listen to the full conversation, check out the show notes at hendershottwealth.com/253, or hit download and save this episode to listen to later!

Here’s what you’ll learn in this week’s episode of Love, your Money®:

• 1:51 How Kelli went from a wannabe-meteorologist to working in the financial industry, then an executive coach who helps women earn more
• 5:41 The biggest stumbling blocks Kelli sees with women negotiating compensation
• 7:44 How to start the salary conversation, understanding salary transparency laws, and a script for approaching negotiations when the offer is lower than expected, 
• 10:02 When salary discussions come up during the job interview process, and how to overcome limiting beliefs that impact your earning potential
• 17:55 Actions people can take to break from low compensation, increase revenue streams, and leverage intellectual property to earn more money  
• 20:53 What Kelli says to the person who says, “I don’t know if I should negotiate for more,” and compensation options that aren’t money
• 25:12 Quantifying the cost of your thoughts, how Kelli came to grips with doubt, and what happens when you replace “but first” with “while also”
• 30:02 What Kelli covers in her book, Closing the Confidence Gap, and what makes it different than other books on confidence

Show Notes
To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/kelli-thompson

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.