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Negotiation 101

Negotiation  101



Event recap

In partnership with LUNA and Bulletin, this panel featured Charell Star (Director of Content and Innovation, Essence Marketing & Advertising) and Shannon McLay (CEO of Financial Gym). We talked about the biggest do’s and don'ts for salary negotiation and how to remain confident despite the discomfort of negotiation. It’s time to get paid more.

“It frustrates me to no end to see how little women are getting paid doing similar jobs as men in their company.” —Shannon McLay

“I made it my mission to always ask for what I felt I deserved. I make sure that what I’m asking for matches the output that I’m giving to the company.” —Charell Star

“Getting financially fit and healthy is just like getting physically healthy. Negotiating is no different than building a muscle in your body. You have to workout to get there. I think for a lot of women, it’s just a muscle we haven’t worked out regularly.” —Shannon McLay

“Practice is key when preparing for negotiation. Know that if you feel uncomfortable, the person across from you probably feels uncomfortable too.” —Charell Star

“Go into the meeting with the confidence of a mediocre white guy and you’ll get what you deserve. That’s all you need to do.” —Shannon McLay

“The more you talk in negotiations, the more comfortable you’re going to feel.” —Charell Star

“Start a folder in your inbox with all of the praise people send you. Use that to fuel your energy for moving ahead.” —Charell Star

“I think the biggest reason why money is still taboo is that we’re not talking about it at home. The fix for financial literacy is to start talking about it at home.” —Shannon McLay

“Find the ballpark salary for your job. Take the higher end of whatever it is, then add a little bit more to it. Carry that number in your back pocket.” —Shannon McLay

“People often forget that negotiation is a multi-step process. You want to close the deal, but that’s not always how that happens and it might be a six-month conversation. Put dates in your boss’s calendar and know that it might take time to get to where you want.” —Charell Star

“Make sure you negotiate for a raise at a time when the value that you provide for that organization is clear. You definitely want to go in for raise when you are on your A-game.” —Charell Star

“Write down the negotiation conversation from start to finish. Go through and practice what the conversation looks like. Make yourself answer the hard questions.” —Charell Star

“We need to think about ourselves the way our friends think about us.” —Shannon McLay

“I want my team to work smarter, not harder. You need to have the results to back up your raise negotiation.” —Shannon McLay

“You need to really think about the how you’re going to respond to your manager’s rebuttals ahead of time. They might sound very different to someone else than they do to you in your head.” —Charell Star

“It is the best prepared for the conversation that wins the conversation.” —Charell Star

“Your job is a relationship. Make sure you’re in a healthy one and if you’re not valued and respected in your relationship —leave.” —Shannon McLay

“Look at yourself in the mirror and say, ‘I deserve to be here. I’m amazing. I can do anything I put my mind to’. Say it to yourself until you believe it.” —Charell Star

In honor of our panelists, LUNA is donating to a charity that each of them hold dear. Charell Star is a board member of City Living NY who empower youth aging out of foster care by providing them with support and resources to transition into adulthood. The Financial Gym has a Gym Magic Fund that serves as a “pay it forward” mechanism for their clients in need. LUNA champions women who give back to their communities and are making a difference.

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