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454 | Salary Negotiation & Early Retirement | Financial Mechanic

27 snips
Sep 11, 2023
This podcast discusses the art of successful salary negotiation, from doing research to handling discomfort and self-doubt. Negotiating can be intimidating, but it's important to advocate for yourself. They also explore the compounding benefits of negotiating salaries and discuss the scarcity versus abundance mindset in job negotiation. Embracing discomfort and pushing through it can lead to financial benefits. The podcast highlights the importance of negotiation skills and their impact on financial independence.
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INSIGHT

Think Win‑Win Collaboration

  • Treat negotiation as collaboration, not a zero-sum fight.
  • Identifying both parties' incentives reveals creative win-win solutions.
ADVICE

Delay Talking Salary

  • Delay salary discussions until you understand the role and its budget.
  • Ask the recruiter for the role's range or say you won't discuss numbers until an offer stage.
ADVICE

Research Real Market Pay

  • Do deep market research using Glassdoor and direct conversations with peers.
  • Ask former colleagues or people in the role for real salary numbers to set an accurate target.
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