In this episode, The Team covers salary negotiating techniques, cost of living considerations, and how to calculate how much you should ask for when negotiating your salary for a graphic design job!
Show Notes:
Negotiate a SalaryKnow your worth
- Track all your expenses for a month:
- Needs: Rent, gas, insurance, bills, etc.
- Wants: Dinner, dates, going out, Netflix subscription, clothes, etc.
- Saving: Are you saving?
- - now multiply each of those by 12 and add up = yearly expenses.
- - If everything you do is $1,800 a month, you can live as a cheap college student in Oxford for $21,600.
- - Say you take a $35,000 salary, removing expenses, you have an extra $13,400/year which is $1,116 a month.
- --- consider student debt payments, things your parents will make you pay for once you have a job,
- ---all of this is before taxes: that's a lot of your money based on state and federal taxes.
- ---Nothing will be as cheap as it is in Oxford.
Set up a realistic budget for your living expenses (50/30/20 rule)
- https://www.nerdwallet.com/cost-of-living-calculator
- 50% - NEEDS: Bills, expenses, groceries, student loan bills, etc.
- 30% - WANTS: Discretionary spending
- 20% - SAVING: This is anything towards your longer-term financial goals and things like your 401k/IRA (retirement plan)
Do your homework:
Other things to consider:
- Factor in benefits value: what would sweeten the deal?
- PTO (paid time off, aka vacation days)
Negotiate a Salary: Tips and Tricks
In an interview:
- They put a number out: Ask to hear more about the position before giving a firm answer
- They ask YOU what you’re looking to make, or ask for a range: bring in your research! This city, this position, with my skills, make xyz. I’m looking to make close to xyz
- NO RANGE
Host, Producer, & Editor - Mark Cela
Host, Director, & Script Writer - Kristen Pericleous
Host, Social Media Manager, Social Media Content Creator, & Editor - Dan Lawson
