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Talking About Money

kalzumeus.com

261–270 of 412 posts

Re: Talking About Money

#261
post #251

>>The business is modestly successful. I have a particular number in mind for it, which I’d be crazy to quote publicly prior to selling it, for the same reason that you’d be crazy to quote your desired salary in a salary negotiation. If a buyer pitches me on 2X my desired number I will, naturally, say “That’s an interesting number. If you were offer insert 2.2X here I think we’d have a deal.” No buyer will pitch 2X i…

Presumably he would do the same if pitched 3X or 4X

Re: Talking About Money

#262

Earlier quoted context omitted.

I had a similar experience with a recruiter. I asked why and she couldn't come up with a compelling answer, she just said "That's just how it is, we need your salary." She escalated it to her manager and he pulled the same. I eventually complied but not without telling them I didn't ever receive a good reason and it makes zero sense and I couldn't see how it would do anything but hurt me. Funny enough I ended up gett…

Recruiting expert here! First off, a company "walking" without your salary information is a failure on their part, and their loss! However, to answer your question - I find the salary question to be a great indicator on many levels, here a few: It's just one data point in determining whether you're a qualified candidate 1) Why would I waste the candidate or the client/employer's time if there's too large a gap betwee…

> These candidates that challenge this minor issue end up being more trouble than they're worth in other ways too; it's a red flag.

Speaking of red flags: organizations that think people who have basic negotiation skill are too much trouble to work with.

Re: Talking About Money

#263

Earlier quoted context omitted.

huh? what distinction? who says you have to tell them the truth? obviously if you make 40k you're not going to be competent enough to jump to 200k, but if you were making 150k and ask for 200k, just tell them you were making 190 before. who cares? when it comes to this kind of topic on HN, sometimes i feel like i'm taking crazy pills.

Yeah, just lie, who cares? ... If you want $200k but are making $150, just say you are looking for a salary around $200k. If they ask again how much you make presently, you can say "I negotiated my present salary years ago, it's not relevant to the value I provide now, I'm sure you understand". I'm not going to be pushed into lying and making things up out of expediency. YMMV.

i engage people with my own self expectations in mind. i believe that's what makes me an effective leader. i could be wrong.

i have not, and i would never in a million years ask someone what they currently make. why would i ever do that? what's the point? you might as well ask them about the size of their genitalia.

the range of bullshit answers you will receive, even from the lowest level of positions, just means you're only fooling yourself if you ask these kinds of questions. just ask for what they want. lying about that won't benefit them, it will only benefit me.

Re: Talking About Money

#264
post #233

Earlier quoted context omitted.

LOL, of course it works. why wouldn't it? someone asks you a question, you give them an answer. to me all of this buffoonery around hiding your salary requirements sounds ridiculous. i'm a startup co-founder, i hire all the time. if i asked someone what their salary requirements are and they said 200k or 300k i'd immediately interview them to see if they're worth that much. i would take it as a personal challenge to…

They may not be getting paid that much because they can answer your "stumpers." You might be better served by using the interview to find out why they add so much value instead of trying to prove that you're superior in some way.

uh, well, my stumpers include, "why should we pay you 200 grand?" which should naturally flow into a conversation into the amount of value this particular engineer or executive will bring to my organization.

here's another one: "how will you pay for yourself in 6 months?"

i'm no longer technically competent enough to stump an extremely talented engineer on a technical question. not really sure where you get the 'superiority' language, since i would be out of business if i didn't hire employees who were 'superior' to me.

again - sometimes i feel like i'm taking crazy pills around here.

Re: Talking About Money

#265
Talking about your salary as an employee will eventually take away your negotiating power. If everyone knew everyone's salary, salary would be minimized to the lowest possible market rate, so nobody gets upset.

Re: Talking About Money

#266
post #244

Earlier quoted context omitted.

Sorry but I disagree. Nobody has ever asked me how much I currently make or I made at my last position. It is just not relevant. You make an offer. I might or might not take it. Asking me to reveal my current salary first is silly. If you insist on this information before the conversation can continue, then conversation is over.

I was addressing the bluff question. Further down in the comments, I address your point - note: I mostly agree with you.

They shouldn't ask the question much less demand an answer threatening to close communication if the demand is not met. If they do so, they are clearly not somewhere you want to work.

Re: Talking About Money

#267
post #79
post #65

Earlier quoted context omitted.

Not snark... serious question... its not clear to me what sort of services anyone could offer for 30k per week... what sort of thing commands that kind of price tag?

Making $20 million a year SaaS companies into $22 million a year SaaS companies. If you have reasonable expectation that I can actually deliver on that, then you're pretty much willing to say yes to any rate I quote. If you're curious "How does one turn a $20 million a year SaaS company into a $22 million a year SaaS company?", there exist many options depending on the specifics of the company and virtually all of th…

Ok, fair enough. Will take a look at your blog, thanks.

Re: Talking About Money

#268

Talking about your salary as an employee will eventually take away your negotiating power. If everyone knew everyone's salary, salary would be minimized to the lowest possible market rate, so nobody gets upset.

It's the truth. If you look at countries like Sweden and Denmark where salaries and tax returns are public information, most salaries are all the same.

Re: Talking About Money

#269

>> Most important takeaway about salary negotiation, by the way: disclosing a previous salary is almost always against your interests because it pegs your new salary to that plus 5% rather than your value to the new firm minus a discount, which is a brutal mistake I had a phone screen with an HR drone once (Cerner Inc. to be exact \waves) part way thru she asked me my current salary. I declined to provide that inform…

Crazy. I'd definitely send a quick note to someone higher up if you can get a hold of him/her. I know, not worth the time, a hassle etc. But a typical CEO worth his salt will crush something silly like that in no-time, if you really want to hire good people this is the type of person you want to fire. I mean, hell, asking the question is one thing. I can live with that. But turning that into some kind of litmus test…

I have had several interviews where after I had passed all the technical screens that the company was simply unable to offer me what I was asking for after weeks of trying. I managed to find a list of what local area start-ups were paying for different roles and was shocked to find myself in the top 10% when I had taken multiple pay cuts within defense and was getting mediocre compensation compared to every Bay Area and NYC located company I had talked to.

I've talked to a number of folks with inside knowledge for a couple different regions and it's quite possible that they're simply not budgeted to pay for that role and they just can't politically negotiate that while meeting certain fiscal commitments. If I started a company right now and bootstrapped, I can't pay someone market rate at all and expect to be in business a year without taking outside funding, so that's just reality.

Re: Talking About Money

#270
https://twitter.com/CHOBITCOIN/status/594238763880075264 claims MCV co-founder started the talkpay hashtag and she was racist. Notice how only Silicon Valley Americans are participating in the twitter hashtag. This hashtag will only help the shrill feminists, not the women who toil away in hardware factories in China and the outsourcing firms in India.
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