đ
Career Advice from a Woman Who Ruled Wall Street | Sallie Krawcheck | Big Think - YouTube
Channel: Big Think
[5]
Sallie Krawcheck: So there is so much career
advice for women.
[8]
The best career advice that you are not getting
is to invest.
[14]
âWhat?
[15]
What?
[16]
That has absolutely nothing to do with my
performance on the job!â
[19]
Yes, but it does have to do with having more
money.
[22]
And if you are investing to the same extent
that the guys are, that will on averageâand
[27]
has historicallyâadded to your wealth hundreds
of thousands of dollars, for some women millions
[33]
of dollars, over the course of their lives.
[35]
What happens when youâve got more money?
[38]
You can play looser, right?
[40]
You can, with more confidence, go in, ask
for that promotion, for that overseas assignment,
[48]
quit that job you cannot stand because that
boss is such a jerk.
[53]
Start your own business, test your own business.
[57]
The degrees of freedom when weâve got more
money are substantial.
[62]
And Iâll even take it all the way to: it
will also help us get to equality with men.
[69]
That confidence in the workforce, that equality.
[71]
Ladies, we will not be equal with men until
we are financially equal with men.
[75]
So the best career advice youâre not getting
is to invest.
[79]
I wish I didnât have to give you this advice.
[83]
I wish every company out there just let you
be you; accept that youâre just not comfortable
[89]
going in and negotiating for the raise and
not to force you to do it.
[94]
Close that gender pay gap, pay everybody exactly
what theyâre worth, and not make negotiating
[100]
a core part of getting compensated in this
country.
[105]
So I wish I didnât have to do that.
[107]
But I do.
[109]
And so we have to accept the world as it is
today, and so ladies, youâve got to negotiate
[114]
from the first job.
[116]
You just have to.
[117]
Let me give you the example why.
[119]
So I managed a lot of people over a lot of
years and I will tell you that every year
[124]
almost every guy who reported to me, before
bonus time would come into my office and tell
[129]
me how much they wanted to make.
[131]
And every guy every year typically told me
more than he was in the budget for.
[135]
And so, think about what happens, right: Jim
and Mary.
[139]
Jim and Mary are both in the budget for a
bonus or a raise of five each.
[144]
Jim comes in, tells me he wants tenâI never
hear from Mary.
[150]
I giggle to myself, âThat Jim, heâs so
crazy, you know, weâre never paying him
[154]
ten.â
[155]
Well comes around time to put the budget together,
give out the raises or the bonuses, and I
[161]
knowâmy HR head and I both know Jim wants
ten.
[164]
Well, you know, weâre not going to pay him
ten but, you know, his office door was closed
[170]
the other day and the guys down the street
are looking for someone like Jim.
[174]
And by the way, he made a really good point,
I totally forgot about that project he did.
[178]
Weâll pay him seven.
[181]
Now how much does Mary make?
[183]
The answer usually is five.
[186]
The right answer, of course, is three.
[188]
Just because Jim asked for more and I choose
to give him more doesnât mean my bonus pool
[192]
goes up.
[193]
It doesnât mean my budget goes up.
[195]
And so there is to some extent a zero sum
game.
[198]
All right ladies.
[200]
Now that Iâve convinced you, how do we approach
it?
[203]
With facts and in advance.
[206]
So much of the advice to us is sort of in
the meeting, in the moment.
[210]
You have to start planting those seeds well
before.
[212]
First of all you need to know how much you
should be making and go to a Payscale.com
[217]
or a GetRaised or Comparably or Hiredâany
of these services that are popping up.
[221]
Talk to your friends.
[222]
Have two glasses of wineâor four, you knowâand
have the conversations.
[226]
So know how much you should make.
[229]
Have the conversation in advance with your
boss about what are, if possible, the metrics.
[235]
How many newâyou know, quantify it to the
extent you can.
[237]
How many new reports?
[240]
What kind of client satisfaction score?
[242]
How many new clients?
[243]
What in sales?
[244]
How many clean audits?
[245]
Whatever it is you can quantify.
[247]
What does success look like?
[249]
So set that up: âThis is success for me,
for the department, for the company.
[255]
Hereâs what I need to achieve this year.
[257]
Hereâs what I want to make.â
[260]
Get an agreement and then the negotiation
at the end of the year is not a negotiation.
[264]
To the extent, of course, that you come in,
youâve done that or havenât done it.
[269]
Never have one ask and take no for an answer.
[272]
That if youâre told no on the raise, or
even if youâre told yes, come in with 12
[276]
other requests, right.âI want to take a
coding class that the company pays for.
[282]
I want to have a stint in marketing.
[284]
I want to work overseas for a period of time.
[286]
I want to be mentored by XYZ.
[288]
I want to work on this big project.
[289]
I want to, I want to, I want to.â
[292]
And if by number 20, you know, typically your
boss is going to say yes to something that
[297]
can turn into professional advancement or
money down the road.
[302]
And if he or she says no to all 20 I think
youâve gotten a pretty clear message there
[305]
as well.
Most Recent Videos:
You can go back to the homepage right here: Homepage