Negotiating and Equity Ownership with MomUp
Last week, our founder, Natalie Levy, was interviewed by Mom-Up, a mission-based recruitment firm working to advocate for women throughout all stages of their professional career. In this workshop, Natalie discusses a framework for how to navigate negotiation as well as land a dream role or salary. The entire interview can be viewed here, and below are several of our key takeaways that we wanted to share!
The Negotiation Framework (Mindset/Confidence, Information, & Strategy/Skills):
- Solidifying your mindset and confidence around negotiating is not a conditional or situational practice, but rather one that you must implement daily to be able to perform when it matters.
- It is critical to be knowledgeable about the company’s financials and competing market benchmarks or else you are at an information disadvantage.
- Coming prepared with a personal reservoir of negotiation strategies and skills, such as silence or anchoring, will tremendously improve the perceived level of your competence and professionalism.
Pursue multiple offers and avoid accepting any on the spot.
When discussing pay or new job roles with potential employers, having the option to compare incentives from other offers is a way to leverage your demand and reinforce your value to the company. Additionally, regardless of how many proposals you are considering, it is important to take time away before accepting to reflect on whether or not they meet your personal goals, expectations, and priorities.
Think like an investor when equity ownership is being negotiated.
Unless you envision future growth and personal alignment with the company you are working for (i.e. a business that you would invest in as an accredited investor), equity ownership is not always significant compared to cash. Before negotiating, conduct research to understand what the equity you are being offered is worth in both that company and general market comparison. In this case, knowing the numbers translates into advocating for your worth.
Arriving at “no.”
While negotiating salary can be a daunting conversation, especially for first-timers, Natalie encourages the process of “getting to no.” This is, in other words, how far a company is willing to accommodate an increase in equity ownership or pay. Without knowing what a company’s boundaries are, it is difficult to discern whether or not additional money or opportunity is being left on the table. And when you get to “no”, dig in, and learn something, and maybe you can turn it into a “yes.”
Developing strong negotiation skills will transform you as a person.
When you become a strong self-advocate in professional settings, those skills are easily transferred over to other personal and relational aspects of your life. Some of these direct effects include more self-confidence, fewer feelings of imposter syndrome, and a revitalized set of expectations for how you want other people to recognize your worth. An indirect effect is the chain-reaction of other women that will follow suit.
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