Negotiating skills are a valuable tool that can affect all areas of your life, including the amount of money in your pocket. One way to increase that money is by using the power of negotiation throughout your career. But not everyone is doing it. According to a study by Fidelity, 58% of young professionals do not negotiate their job offers. However, 87% of those who do negotiate wind up walking away with additional compensation. Negotiating can be scary. What if you’re turned down? But, on the flip side, what if you negotiate, and it works in your favor?
In this week’s episode of Money Glow Up, host Tiffany Aliche speaks to Mandi Woodruff-Santos, financial expert and founder of the career coaching practice Mandi Money, about how to improve your negotiation skills and not leave money on the table. To build your confidence in negotiating, “you want to start flexing that muscle” in your everyday life, according to Woodruff-Santos. When it comes to your career, negotiating your compensation doesn’t have to be “contentious,” but having leverage can help you land your desired salary. “The biggest gains in compensation I’ve seen have come when women have had at least one or two external offers that they can leverage,” Woodruff-Santos said. “Having multiple offers, it does the negotiation for you.” Together with Yahoo Finance, Tiffany Aliche creates a space to share real and inspiring money stories, learn financial fundamentals, and build your future. Step into the classroom with Money Glow Up every Thursday at 12 p.m. ET with Tiffany Aliche — aka The Budgetnista — to jump-start your financial journey. Money Glow Up is produced by Lauren Pokedoff and Shelby Boamah.
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