Dangers of Discussing Salaries at Work: eHow Video

As we approach year-end, it's that time again: performance reviews! Tempted as you might be to share details about your review at the office, be aware that not everyone is comfortable discussing their salary with other people. By discussing salaries at work, you run the risk of offending your coworkers by asking about their salary or compensation package.

Instead, why not focus on preparing for the conversation with your manager or team leader. Check out my How-To video for three tips to help you negotiate being paid a salary that accurately reflects what you’re worth:

The Danger of Discussing Salaries at Work -- powered by ehow

This video is one of a 10-part series of how-to videos I've produced on eHow.com with tips and ideas to help you be happier in the workplace (and beyond!). Watch the whole video series on Improving Workplace Morale!

Let me know in the comments if this information was helpful for you and feel free to share any ideas that you've come up with on your own.

NEW Podcast: Get Paid What You're Worth Even in the New Normal

Has the New Normal impacted your ability to negotiate for money?

The message we're receiving about money in today's economy is that it's TIGHT! Consumers are scrutinizing every purchase; and, managers are still nervous about spending. To get ahead, you must be able to demonstrate the ROI and value-add of any additional resources.

The GOOD news, I've just recorded a new podcast to help you! It's my conversation with Kathleen Kingsbury, founder of KBK Wealth Connection. In this podcast, Kathleen and I discuss how you can master your money psychology, and increase your ability to negotiate for what you're worth.

Whether you're an employee preparing for your year-end performance review, a job seeker getting ready to land your next job, or an entrepreneur planning to close your next deal, this podcast has great tips for you!

Kathleen, a certified professional coach and author of Creating Wealth from the Inside Out Workbook, helps clients to bravely look at their relationship with money and to make lasting financial, behaviorial changes.

One money psychology strategy we discussed on the podcast is to figure out which aspect of your brain you typically use when you're negotiating or discussing money: your emotional mind or your rational mind. This will help you understand how you're responding to the other person. Listen to the podcast for the series of questions Kathleen recommends you ask yourself before these conversation.

As always, I want to hear your feedback about the podcast. Feel free to tweet me your money success stories (or challenges) on Twitter. And, if you'd like to share part of your Dear Money Letter here, please do so in the Comments section!

Here's to all of us gettin' paid in 2011! :-)

Ladies, Do You Know What You're Worth?

According to Linda Babcock, Carnegie Mellon University economics professor, many women sacrific more than $500,000 over their professional lives by not negotiating their salaries. She surveyed 2002 and 2003 MBA graduates and found that 52% of the men had negotiated their salaries, while only 12% of the women had done the same.

Babcock, author of Women Don't Ask, found those who negotiated received 7% to 8% more than they were initially offered. So, what holds us back?

We've discussed this topic previously in this community. In fact, Nina pointed us to another Babcock 2003 Harvard Business School study that described three key factors:

1. Socialization: being taught that it's not appropriate to ask for what we want
2. Penalization: being reprimanded or denied opportunities because we are seen as being "pushy" when negotiating
3. Frustration: leaving the situation instead of using our skills as leverage points for growth

In the spirit of career portabilityTM, I'd suggest that we must resist the socialization trends and make the ask. Try to minimize penalization by being conscious of your communication style and attempting to adapt your communication techniques based on your target audience.

And, most of all, don't let frustration cause you to leave something on the table! Be prepared -- know what you have accomplished in your current (and previous) roles. Know the average salary ranges for your industry and position.

Ladies (and gents), I'd love to hear from you. Do you have success stories to share? Lessons that you've learned? Advice that you'd like to pass along?