The Future of Work Part 2: Talk About Money

Job Offers

Using external job offers as leverage in salary negotiations can be a strategic move, but it requires careful consideration. Scott Galloway suggests assembling a "kitchen cabinet" of trusted advisors to discuss the situation in detail, including someone at work who understands your position and can offer guidance 1. He emphasizes the importance of having a senior-level sponsor who is emotionally invested in your success, as they can provide valuable support during negotiations.

The best way to get leverage, if you want to make more compensation at your current role, is to get another offer from an outside company.

--- Scott Galloway

Additionally, Galloway advises checking the job market periodically to understand your worth and to approach your boss with honesty about your situation 2.

   

Negotiation Tactics

Personal negotiation tactics are crucial for employees aiming to secure better salaries and positions. Scott Galloway recommends conducting thorough market research to understand your worth and preparing a self-review that outlines your achievements and future plans 3. He stresses the importance of having discussions about compensation before formal review meetings, as decisions are often made beforehand.

You want to have that discussion and negotiation before the meeting, because once you're in the meeting, it's probably pretty set.

--- Scott Galloway

Galloway also highlights the need to act like an owner by demonstrating how you plan to add value to the organization in the coming months 4.