Ep91: Should you negotiate a job offer? My BIG mistake.
In this episode, Mei Phing discusses why negotiating a job offer is crucial as it impacts your overall compensation plan and future job opportunities. Failing to negotiate can lead to being underpaid and hinder career growth.
Highlights
00:30 🎙️ Focusing solely on monthly salary is a common mistake, neglecting other aspects of compensation.
02:55 🎙️ Lack of negotiation skills can result in accepting roles with unattractive overall compensation plans.
05:18 🎙️ Not negotiating early in your career can limit future earning potential and make it difficult to catch up.
08:12 🎙️ Learning to negotiate is essential for getting paid what you deserve and being fairly compensated.
12:05 🎙️ Having value conversations with your boss during performance reviews is crucial for discussing compensation.
16:30 🎙️ The best time to negotiate is before signing the offer letter or during performance reviews.
18:45 🎙️ Failing to negotiate is your own responsibility and can hinder career progression.
Key Insights
💡 Focusing solely on monthly salary can be a mistake as the overall compensation plan, including benefits and annual leave, is equally important.
💡 Lack of negotiation skills and blindly trusting HR or recruiters can result in accepting roles with inadequate compensation.
💡 Not negotiating early in your career can lead to being underpaid even as you take on more responsibilities and rise up the corporate ladder.
💡 Learning to negotiate is crucial for ensuring you are fairly compensated for the value you bring to the company and your role.
💡 Having value conversations during performance reviews allows you to discuss your contributions and negotiate for better compensation.
💡 The best time to negotiate is before signing the offer letter or during performance reviews, as it sets the groundwork for future compensation.
💡 Failing to negotiate is your own responsibility and can result in being stuck in jobs where you are not adequately compensated for your efforts.
👋 HEYYYY!
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See you on the inside! — Mei Phing
