Stretching Your Dollar: How to Negotiate a Better Salary

<div class="block">For recent graduates, location is everything when it comes to salary. Pattie Ehsaei, finance and career expert, joined &#39;Stretching Your Dollar&#39; to talk about which cities have the highest salaries for entry level roles. She also talked about the art of negotiation and how job seekers can leverage getting better pay. </div>

Stretching Your Dollar

When it comes to your salary, the amount that you make can drastically affect where you live and it turns out where you live can impact your salary. So joining me now is Patti as finance and career expert with almost a million followers on tiktok here to help us and people entering the workforce to maximize their opportunity. Patty, it's great to have be on the show and I guess we'll start by just asking which states which places have the highest paying entry level jobs. Massachusetts, California and New York have the highest paying entry level jobs. But you also have to consider it's very expensive to live in these states, right? So while they're paying a lot, it's very expensive and it might not be worth living in these states. Interesting. Ok. So we also have a full screen here uh that says states that pay above the median salary, South Dakota, Montana, Idaho and Iowa. I know those aren't necessarily any of the cities perhaps uh per se, excuse me, that you rattled off. Uh But what do our viewers need to know about these places? Well, you know, these places are great places to live because you're able to actually afford a home. If you want to buy a home, home, prices are lower in these areas and they're a lot more affordable to live. So, if you live in these places know that you'll be able to save money, which is great. Especially when you're starting off your career. Yeah, saving, I think is very important. We talk a lot about it on this show but when you're thinking about some of those bigger states, maybe some of the coastal states, Patty, like I know some of the cities that you rattled off earlier, certainly in some of these coastal states, New York, Massachusetts. How do you make that decision? What should go into your decision when figuring out the best place to start your career? The most important thing to think about when you're starting your career is where can I learn the most? And where can I advance the most? Because when you're starting, you can really put up with working a lot, right? Having the best boss is not the most important thing. The most important thing is building your skill set. So you're building your resume so you can have the ideal position later. So think about a job that's going to teach you the most that you can learn and where you can advance. Those are the most important things in a position. OK. Uh That's great insight. What about negotiating your first job offer people? You know, I I don't want to speak for anyone and I don't want to make any assumptions, but it's the first offer. So how should you approach that negotiation? Never accept the first offer, period. Employers typically have 10 to 15% leeway to give you more money. And a lot of people are so afraid to negotiate because they think that the offer is going to be rescinded, the offer will not be rescinded, trying to negotiate for a higher salary. And if they say no, so what you're back to where you started and, but at least you try to negotiate. Yeah. Ok. I like that. Um, so let's say you, you can't get the rate that you want and you have to be back where you started. Are there other factors maybe benefits perks that you can negotiate in entry level positions you can negotiate, maybe how much vacation time you get or pay time off, that's really important for entry level positions or whether you can work from home or not. That's something now that you can negotiate. However, as you go higher up in the workplace, you can sometimes negotiate stock options or equity if it's a private organization, what do you think people should be looking for in their first job? Obviously, maximum growth opportunity is one thing. But what are some other factors to consider? Really what you also want to consider is, what type of organization are you working for? Right. And does it meet what you want as far as your career goals because a lot of people will go into a job just because it pays the most amount of money, but it doesn't meet your future career goals. And if it doesn't meet your future career goals, you're just wasting your time. And although the money is good, it's not going to get you to where you want to be in your future. So, really think about that and make sure that it aligns with what you want to do in the future. I like that. Any red flags to look out for when it comes to choosing a job. Yes, it's just like a first date. You will know right away in the hiring process, whether this company is a professional organization or not. And how, you know, is, how do they communicate with you? Is it a crap show when they're trying to schedule things with you? Are they disorganized? Do they make you feel like a priority because understand that they are putting their best foot forward now and it's just going to get worse. So if your experience of the hiring process is bad, know that it's just going to get worse and this is probably not an organization that you want to work for. Ok. Very good advice. Any other tips for recent college grads looking to land their first job, Patty? My, my really other tip is that you have to be able to work hard. A lot of people when they're starting out their career, they're really thinking about, oh my gosh. How much time am I gonna get off? Is this really just the best working environment for my mental health? And while mental health and time off is really, really important, this is such an important time for you to just get your foot in the, in the door. Work as hard as you can and prove yourself and learn as much as possible. So, really focus on that because then you have time to get the job that you really want and where you're a little bit more comfortable. Right? Patty. Great advice. Thank you.