From the course: Negotiating Your Compensation Package
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The 7% effect
- When it comes to negotiation, no one can do this work for you, but if it still feels stressful, consider this. Just a few minutes of potential awkwardness can pay off in a major way. Researcher Linda Babcock found that when people attempt to negotiate, they receive, on average, a 7% pay increase. Imagine what 7% more in your paycheck means for you and your life week after week, year after year, and that's only if you negotiate once more in your career. Think about what that added salary or what increased flexibility or other benefits would mean to you and your family. Ground yourself in that bigger why before going in to make your case because when you know what you're negotiating for, you'll be more courageous when going in to ask for it. And if you'd like to learn more and I can be of service to you, head to my website, bossedup.org/negotiation, to find more free resources and to join me for an upcoming live workshop.
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