Best of Both Worlds Podcast

7 May 2024 · 41 min

0:00

In this episode of the Best of Both Worlds podcast, hosts Laura Vanderkam and Sarah Hart Unger interview negotiation expert Kathryn Valentine about the unique challenges women face when negotiating and research‑backed strategies to overcome them. Kathryn shares her personal story of a failed MBA internship negotiation that sparked her interest in the field, and explains that while women now negotiate as often as men, their outcomes are still about half as good, creating a skills gap that can be closed with education. She outlines a three‑part, research‑based solution: (1) think holistically – expand the list of negotiable items beyond base salary to include bonuses, benefits, flexible hours, resources, and even creative options like December off; (2) ask relationally – combine past performance, future vision, and a clear ask, using a formula that demonstrates legitimacy and mutual benefit, thereby reducing backlash; (3) discuss collaboratively – frame negotiations as solving a shared problem, seeking win‑win outcomes and being open to trade‑offs. Kathryn also provides practical preparation tactics such as maintaining a win‑list with quantified achievements, sending weekly performance summaries, practicing negotiations with a partner, priming oneself with a post‑conversation reward, and allowing time for negotiations to evolve over weeks. She discusses handling common objections (budget constraints) by exploring alternative compensation buckets and emphasizes the importance of asking for promotions rather than just raises for long‑term financial gain. Listeners are directed to her website worthmorestrategies.com for a compiled list of 75 negotiable items and encouraged to seek her as a speaker for women’s organizations. The episode also includes ad reads, a brief listener question about kid chores, and closing personal “love of the week” segments.

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