1
00:00:00,000 --> 00:00:05,069
Hi, this is Stephanie Maas, partner with Thinking Ahead, executive Search.

2
00:00:05,460 --> 00:00:10,110
Today I wanna talk to you about one of all of our favorite subjects.

3
00:00:10,410 --> 00:00:10,920
Money.

4
00:00:11,400 --> 00:00:13,470
We hear it all the time, but what does it really mean?

5
00:00:13,680 --> 00:00:15,145
Money isn't everything.

6
00:00:15,705 --> 00:00:22,155
Personally, I would like to be challenged by this and have more
money than I know what to do with and figure it out from there.

7
00:00:22,185 --> 00:00:27,465
But until that day, if money isn't everything, what is, here's a couple thoughts.

8
00:00:27,854 --> 00:00:30,405
First and foremost, what's your home life like?

9
00:00:30,825 --> 00:00:33,435
Critically important, how does that relate to your job?

10
00:00:33,795 --> 00:00:44,870
Of course, we know things like commute hours, stress level, all of that contributes to
absolutely your time on the field, but also a hundred percent your time off the field.

11
00:00:45,435 --> 00:00:46,605
Very important factor.

12
00:00:46,965 --> 00:00:50,235
Another important piece is your professional development.

13
00:00:50,475 --> 00:00:56,265
It's a lot to keep up with and you have to make sure professionally you are keeping up as well.

14
00:00:56,415 --> 00:01:09,795
So you need to, even if you're not used to it, and that definitely does not mean a job
change, but every year you need to sit down and set some professional goals for yourself
to make sure that you are keeping up with the market and keeping pace with the industry.

15
00:01:10,274 --> 00:01:12,764
Third thing you need to take a look at is culture.

16
00:01:12,975 --> 00:01:15,074
Again, critically important.

17
00:01:15,314 --> 00:01:16,064
Let's be honest.

18
00:01:16,244 --> 00:01:17,835
This isn't Google, for goodness sakes.

19
00:01:18,044 --> 00:01:24,704
I'm pretty sure you're not gonna walk in your office tomorrow and there's gonna be an
Xbox or a ping pong table in the, you know, snack room if you even have a snack room.

20
00:01:25,064 --> 00:01:28,844
But culturally, are you working for somebody that you respect?

21
00:01:29,220 --> 00:01:30,510
Do they respect you?

22
00:01:30,780 --> 00:01:31,770
Go up the next level.

23
00:01:31,770 --> 00:01:33,270
Keep asking those same questions.

24
00:01:33,300 --> 00:01:35,280
What are the values of the organization?

25
00:01:35,280 --> 00:01:37,500
Are those exhibiting in your world?

26
00:01:37,710 --> 00:01:42,960
It's important that you have a lot of congruency
between your culture at work and with you personally.

27
00:01:43,230 --> 00:01:45,149
It's gotta line up after that.

28
00:01:45,149 --> 00:01:46,380
I'm pretty sure money's next.

29
00:01:46,620 --> 00:01:48,179
Uh, most of us aren't not for-profits.

30
00:01:48,179 --> 00:01:53,730
We have families to feed and, and lives to live, so
money is there, but it's certainly not everything.

31
00:01:54,434 --> 00:01:56,985
I wanna share with you a really neat experience.

32
00:01:56,985 --> 00:01:59,085
I had working with a candidate recently.

33
00:01:59,354 --> 00:02:08,655
I had called him on a referral and really was just calling to introduce myself,
get to know their background a little bit, and basically start a relationship.

34
00:02:08,865 --> 00:02:15,680
As we were talking, I. The candidate shared with me, Hey,
I'm really not timing wise in a situation to make a move.

35
00:02:15,680 --> 00:02:16,250
I'm happy.

36
00:02:16,250 --> 00:02:17,900
I like what I'm doing, and I'm like, where I'm at?

37
00:02:18,140 --> 00:02:26,420
And I said, Hey, no problem, but tell me when you do think about your next step,
what does it look like and what would you want me to call you on if I heard about it?

38
00:02:26,660 --> 00:02:33,620
And he went on to describe an opportunity that was candidly
would be pretty unique in the market, but interestingly enough.

39
00:02:33,910 --> 00:02:42,220
I had that opportunity on my desk, so I said, Hey, you're not gonna
believe this, but I actually, I think I have that opportunity right now.

40
00:02:42,490 --> 00:02:43,210
Several months.

41
00:02:43,210 --> 00:02:46,480
Fast forward, the opportunity comes to a head.

42
00:02:46,960 --> 00:02:48,190
They like the candidate.

43
00:02:48,190 --> 00:02:51,460
The candidate likes the opportunity, and it's time to make a decision.

44
00:02:51,550 --> 00:02:55,270
Of course, as all things go, the more the candidate interviewed.

45
00:02:55,480 --> 00:03:05,705
While they were sincerely interested, they really started to think through, Hey, if
I'm gonna make a move financially, this really needs to make sense for my family.

46
00:03:05,855 --> 00:03:13,175
Of course, at the same time, the client's saying, Hey, now that I
think we kinda got 'em on the hook, let's see if we can get a deal.

47
00:03:13,325 --> 00:03:15,965
Which of course, as we all know, never really works out.

48
00:03:16,115 --> 00:03:22,565
But interestingly enough, through a little bit more
conversation and guidance, at the end of the day, what was.

49
00:03:22,595 --> 00:03:27,575
So refreshing was the candidate truly came back to the opportunity.

50
00:03:27,785 --> 00:03:33,185
In fact, their words to me were, honestly, Stephanie, this is a once in a lifetime opportunity.

51
00:03:33,455 --> 00:03:36,935
The money has to make sense, but I can't pass this up.

52
00:03:37,295 --> 00:03:40,955
This is absolutely the right thing for me and my family.

53
00:03:41,225 --> 00:03:43,055
And I really started to think about that.

54
00:03:43,455 --> 00:03:45,015
Look, I'm not a nonprofit.

55
00:03:45,345 --> 00:03:46,185
Let me be honest.

56
00:03:46,215 --> 00:03:47,055
I'm in it for the money.

57
00:03:47,355 --> 00:03:56,655
Now, those of you that know me know that I love what I do, but at the end
of the day, there's a time and a place to really look at the opportunity.

58
00:03:56,984 --> 00:04:01,250
And if it's a big difference maker, I. Again, money is important.

59
00:04:01,250 --> 00:04:03,800
You're not gonna take a pay cut for the right opportunity.

60
00:04:03,920 --> 00:04:05,060
At least most people won't.

61
00:04:05,180 --> 00:04:09,410
But if it's really a career maker, the money is secondary.

62
00:04:09,739 --> 00:04:11,870
Thank you to that candidate for reminding me of that.

63
00:04:12,020 --> 00:04:13,160
I certainly appreciate it.

64
00:04:13,580 --> 00:04:13,850
Okay.

65
00:04:14,120 --> 00:04:27,560
How do you handle a situation where you make above what the market bears or significantly below
what the market bears and how exactly do you handle that if you're looking to make a move?

66
00:04:28,200 --> 00:04:32,280
Lemme start with the super easy one if you feel like you're dramatically underpaid.

67
00:04:32,400 --> 00:04:38,580
First of all, I hate to tell you this, most of the people we work with feel like they are underpaid.

68
00:04:38,850 --> 00:04:49,740
Unfortunately, when you look at the market statistics, what they're
really feeling is a sense of being underappreciated, and they try
to assign a dollar value to that, and it just makes it incongruent.

69
00:04:49,920 --> 00:04:55,020
On occasion, though, I absolutely do come across folks that are sincerely underpaid.

70
00:04:55,200 --> 00:04:56,760
If you think you might be.

71
00:04:56,985 --> 00:05:02,445
Please talk to a recruiter that you trust to get the real market facts.

72
00:05:02,715 --> 00:05:12,225
Unfortunately, a lot of the information we find online@likesalary.com and those, they
can be good touchstones, but unfortunately the information is usually a little outdated.

73
00:05:12,585 --> 00:05:18,615
A good recruiter, however, will absolutely have the most up-to-date information for you on that.

74
00:05:18,615 --> 00:05:18,765
So.

75
00:05:19,685 --> 00:05:29,495
In that situation, if you find that you are underpaid for the market, a lot of
us go into our search thinking, Hey, I've been underpaid for five years now.

76
00:05:29,495 --> 00:05:33,305
My next employer has to make up for that, or I'm not making a move.

77
00:05:33,635 --> 00:05:45,245
And while I certainly appreciate that sentiment, you gotta think how unlogical is that
you would rather stay where your place has been underpaying you than to take a modest.

78
00:05:45,610 --> 00:05:47,380
Bump to go somewhere else.

79
00:05:47,470 --> 00:05:48,640
It just doesn't make sense.

80
00:05:48,730 --> 00:05:55,540
But let me suggest this, if you truly are underpaid when you
get out there and money comes up, you gotta address it head on.

81
00:05:55,600 --> 00:05:59,440
Hey, I know my current comp is slightly below market right now.

82
00:05:59,680 --> 00:06:08,350
What I'd be looking for in my next move financially is for
it to be reasonable and fair and congruent with the market.

83
00:06:08,770 --> 00:06:10,180
Super easy way to handle it.

84
00:06:10,545 --> 00:06:18,255
Second thing, what happens if you find you're dramatically overpaid
for what the market bears, but you still wanna make a transition?

85
00:06:18,465 --> 00:06:30,015
Now, the truth here is if you need that overpaying to make your lifestyle work,
your transition's gonna be incredibly difficult and probably not gonna happen.

86
00:06:30,289 --> 00:06:37,759
But if you're lucky enough to be in a situation where you can take a cut,
get back into what the market is bearing, here's a great way to handle that.

87
00:06:38,059 --> 00:06:46,519
When someone goes to ask you about your comp, Hey, I'm happy to provide
compensation information when it makes sense, but let me go ahead and tell you.

88
00:06:46,519 --> 00:06:56,539
At this point in my career, I'm very thankful that what's most important to me and
my family is finding the right fit and a place where I could really make an impact.

89
00:06:56,809 --> 00:06:58,069
I know after that.

90
00:06:58,504 --> 00:06:59,494
The money will be there.

91
00:06:59,585 --> 00:07:01,384
That money will take care of itself.

92
00:07:01,799 --> 00:07:06,090
If you mean this sincerely, you will pull this off beautifully.

93
00:07:06,359 --> 00:07:18,630
If you're using this as a negotiation tactic and a bait and switch,
you're gonna flounder and there's gonna be a very sour taste and the
whoever's doing the interviewing for you, it can damage your reputation.

94
00:07:18,749 --> 00:07:27,690
But if you truly are outside the market, you know your next move is gonna involve a step back
and you don't wanna intimidate anybody from just talking to you, then I suggest you use that.