For my Yahoo!Finance column that runs March 20, I interviewed Shoya Zichy, a New York executive coach and trainer, and author of several books on careers. She says your personality not only plays a big role in finding the best job fit, it may determine whether you’ll be underpaid in your career.
Zichy gave me permission to excerpt a test she conducts with her clients:
Take a quick look at the options below. Choose one from each set of statements. At least 51% of the time, do you tend to be more:
__tactful and diplomatic or __direct and frank?
__apt to avoid conflict where possible or __apt to meet conflict head on?
__empathetic or __analytical?
__accepting at first or __skeptical at first?
__apt to take things personally or __objective about criticism?
Zoya says that if you choose more items from the left column, there’s a high probability you’ll be underpaid by at least 25 percent of your true value. When review time rolled around, you also were less likely to demand a large raise. People who choose from the right tend to earn more than the norm.
This is due to tactical errors, not personal ones, she emphasizes: “This is not because you lack drive, skills, commitment or talent. Chances are you are simply not asking for your due. When first interviewed, you probably liked the job and/or found compatibility with your future boss and colleagues. So when a reasonable number was offered, you accepted it rather than creating conflict by pushing the envelope and asking for more.”
Not fighting for higher pay can be devastating over a lifetime of earning. Workers who fail to negotiate a first salary stand to lose more than $500,000 by age 60, according to Linda Babcock and Sara Laschever, authors of Women Don’t Ask: The High Cost of Avoiding Negotiation and Positive Strategies for Change. If this is your situation, Zichy proposes a few solutions:
-Research salary websites, such as salary.com; look at industry trade magazine surveys and talk to people who are in similar jobs about appropriate compensation levels. When I was switching from print journalism to television, I called friends of friends in that industry, described what I would be doing and asked for ballpark salaries for similar positions. Asking people point-blank what they make is tacky, but there’s nothing wrong with saying, “I have researched this position and heard people make between $50,000 and $80,000. For someone with my experience, would you recommend asking in the low, middle or high end of that range?”
-Set priorities, not only based on salary and bonus but time off, health benefits, technologically advanced equipment, a supportive boss, freedom, and meaningful work. Just because you can’t boost your take-home pay doesn’t mean you can’t increase the value of the overall package, Zichy says.
-Make a written list of your skills and achievements. Rehearse exactly what you’ll say about what you bring to the table, so you’re confident and focused in your negotiations – and more likely to stand your ground.
“A lot of people don’t push envelope because they don’t want to upset the relationship with person they are talking to,” says Zichy. “At the end of the day, the company’s chief responsibility is not to you, not matter how much they like you – it’s very rare to find a boss who will fight for a big salary.”
Related Posts
This entry was posted
on Monday, March 17th, 2008 at 11:55 am and is filed under Money & Happiness, career, salary negotiations.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
