Transcript for How to Ask Your Boss for More Dough
Speaking of work is one of the toughest things for most of us to do walk into the boss's office. And asked for more money for that work well personal finance expert Farnoosh Torabi is helping women take control of their careers by teaching us. How to negotiate a better paycheck and -- it's so nice to see you thanks for having me you you actually are familiar with style and dot as an -- and coincidentally wearing monitored actresses and -- -- -- company for a couple of years now I love their business model helping women. Start these businesses -- is me. And large Hillary's is aptly beautiful and affordable to report which by the way we didn't bring you here to sell -- and got it well. But it but as a personal finance expert I wonder from me on for memorials in -- from the women empowering themselves standpoint this is something that you think is is -- company that's viable and that kind of thing you would. Recommend women -- especially if. Women I mean I'm I'm -- expecting mom. It's always about trying to find balance in your life how to be present as a mother and as a wife and as an individual also have a business owner or an career woman. And I think -- got really does. Satisfy a lot of that of those needs that we have to sort of be present in in all of those ways that we can be and have a business from home. And be mom at home. And that is I I think it's only writing. All right let's get to the business of asking for a -- yes very important. What are some of the things people can be doing both men and women -- for that raise that work especially women -- as we know men negotiate more often more aggressively they asked for. More times. They they negotiate four times more than women and many do you ask for a salary bump they ask -- three times more. So women. Can take notes from man but also I think everybody should be doing better this year companies expect to get only about 3%. If that to their employees of the bomb. So if you want more than that it's really get you to take control what do you think is the appropriate amount in terms of let's say you are great employed yet or at least you -- -- -- employee and you have the stats to back up your making money for your company. You -- -- impact. What is an appropriate ask for that person. Well you want to consider few factors that for you come up with that appropriate asked one is obviously. What is your value to the company and we if you asked earlier what you want to bring up to your boss when your negotiating -- you. Talk about what's -- value what -- I downward talking points when it by excel that. When -- -- he added it's not about how nice you are how often people come -- for help or how many hours you put it it's really about. What do you contribute to the bottom line if you've been there for a long time making some new -- does. Count but it's not everything so I would say if you want to elevate above average -- -- start at 5% to 10%. And if you don't get back don't -- away defeated from the meeting the meeting is really hard to get you know getting your boss's attention can -- really -- to once they're taken in and Janet. Here she may not be receptive right away to you asking for -- even if you've got -- great PowerPoint presentation outlining all of your. All of your achievements. Talk about other things that you might benefit from that can help you financially maybe it's -- day off. From working in the obvious you can be at home and not have to hire child care and be present as an employee and also as a caretaker for your kids. May be held a -- a free vacation at paid vacation you know these kinds of things I think. He should always be having in the back of your mind. If you don't get the rate that you walk five or 10% -- -- -- then you know Sam K well can we please have a few. -- -- Right you walk into the conversation armed with I want five's 10% but -- also armed with what am I gonna throw at my Abbas if he -- she says no right to this option I also think. You know in my experience it's also helpful to say okay if you're not if we're not gonna do the five to 10% raise today. What's it gonna take exactly meet again in the future what do I need to do so that we can both keep track of that's so that when I get to that -- And I've done what you've asked of me I can walk and -- and and basically say OK where's the money show me the money. Axel yeah that is soberly keep the conversation going at. Example to give you from my own experience early on in my career. I got a job offer and I want need to make acts and they -- willing to meet me there. And they said you know Latin planet we discuss -- than six months see how you're doing what -- perform interviewing -- who gave you -- I think you know what why give me. Like. 20% white -- making now and then will you know the meaning halfway -- out. -- and I think a lot of people have trepidation about negotiating when -- just getting the job because they think. The -- from the job I'm -- too greedy but -- -- they let you they offered you the job you have nothing to elicit anything. I negotiate remember you're showing that you have. Some audacity you have courage your willingness -- -- for what you believe and I think that when you presented -- position that way. Companies should appreciate that and they will say. This is not only agreed employed -- -- an -- to act our company if you are great way to -- -- aren't -- obviate the book. The look at -- in May. So when she makes more ten rules for -- winning women I'll be back hopefully that -- that yes -- well artist Robbie thanks so much for joining us. And they is so much for joining us here on real -- is remember you can -- any time. At real -- with -- -- you just tweet me at Rebecca Jarvis have a great everyone.
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