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