Unveiling the #1 Career Regret and How to Fix It Now
March 25, 2024
Do you have a career regret? Well, meet Jasmine, a woman who climbed the corporate ladder with determination and grace. However, despite her achievements, there was a nagging feeling of career regret that lingered in her mind. She had never negotiated her salary, always accepting the first offer with little push back, and a grateful smile. Just happy to be at the table. As she watched her peers advance and secure better compensation, Jasmine realized that her silence had cost her more than just money. It had affected her self-worth, professional growth, and the future wealth of her family.
Are you also haunted by the ghost of career opportunities past? Do you find yourself regretting the ‘what ifs’ and ‘if onlys’ of your professional journey? If so, you’re not alone.
According to a recent survey by Resume Now, the most common career regret among professionals is not negotiating their salary. A whopping 60% of the survey participants (who were from the US, UK, France, and Germany) regretted not having done so. It’s a moment that can define the trajectory of your career as well as your financial well-being.
But don’t worry! It’s never too late to correct this mistake and take control of your career path. In this blog, we’ll delve into the importance of salary negotiation, how to overcome career regret, and why it’s never too late to make a change in your career. Plus, we’ll share three invaluable tips for you on how to ace salary negotiations in the future.
The #1 Career Regret: Not Negotiating Salary
Salary negotiation is a critical step in the job offer process. Yet many driven professionals shy away from it due to fear of rejection or appearing greedy. Let’s be fair, when women negotiate for higher salaries they are sometimes penalized for it in the workplace.
However, failing to negotiate can result in a significant loss of potential earnings over the course of your career. It’s not just about the immediate financial gain. It’s about setting a precedent for your future earnings and demonstrating your value to your current and future employers.
How Do I Overcome My Career Regret?
Maybe you’ve felt a pang of regret about a past career move? A time or two, you settled for a salary or a job that didn’t quite fit. You’re not alone! But here’s the empowering truth. Because if you don’t know how to do to deal with career regrets, they can become fuel for increased doubt. Here is a 3-step approach to transform your regrets.
- Acknowledge and Reflect: Accept that regret is a part of growth. Analyze the decisions that you now regret. What held you back from negotiating? Understanding the root cause can help you develop a strategy to do differently in the future.
- Seek Professional Development: Talk to mentors and coaches who have successfully navigated similar situations. Their insights can provide guidance and inspiration.
- Set New Goals(or Intentions): Use your past regret as a catalyst for change. Set new career goals that align with your values and aspirations. Create a plan of action to achieve them. If you’re still in the same job, consider approaching your employer for a salary review. If you’ve moved on, use your past experience as a stepping stone for future negotiations.
Is It Too Late to Change Careers?
Absolutely not! You have the power to wipe out career regret. Changing careers can be a rejuvenating experience, offering opportunities to pursue passions, learn new skills, and potentially increase your earning potential. It’s never too late to redirect your career path towards something that aligns more closely with your values, interests, and financial goals. Just be sure to use the following negotiating tips below.
3 Tips for Negotiating a Salary to Avoid Career Regret
Craft a Compelling Case for Your Worth: Negotiation Prep Like a High-Earner
Before you step into the negotiation ring, take a power stance with research and self-reflection.
- Uncover Your Market Value: Leverage top salary transparency platforms like those included below to pinpoint the average target salary for your specific role, industry, and geographic location.
O*NET Online (useful for occupation trends and descriptions)
Indeed.com
Another piece of advice? Don’t settle for averages. Dig deeper to understand the range and factors by also leveraging your network to ask about salaries.
- Quantify Your Achievements: Now, it’s time to shine a spotlight on your accomplishments. Move beyond general statements and craft a compelling narrative. List your achievements and quantify their impact on the organization’s success.
Did you spearhead a strategic plan that resulted in a measurable increase in revenue? Perhaps you streamlined a process that saved the company valuable time and resources. Use specific metrics and data to showcase the tangible value you bring to the table.
By taking this proactive approach, you’ll enter the negotiation with confidence. As well, you’ll have the knowledge that comes from knowing your worth and how to effectively communicate it. This kind of preparation is a hallmark of success. And it positions you to secure the compensation you deserve.
Nail Your Negotiation with a Powerful Pitch
In high-stakes conversations like salary negotiations, confidence is your secret weapon. As a career coach, I emphasize the power of a crafted unique value proposition UVP)or personal value proposition (PVP). A concise statement that showcases your unique blend of accomplishments and the value you deliver.
Instead of simply listing achievements, focus on the impact you’ve made. Here’s how to craft your UVP and practice delivery:
- Identify Your Value Drivers: Reflect on your past roles. What quantifiable results did you achieve? Did you spearhead a project that saved the company money, or develop a strategy that increased sales? These are your value drivers.
- Craft Your UVP: Structure your UVP using a simple formula: “In [previous role], I achieved [quantifiable result] by leveraging my skills in [relevant skill] which resulted in [positive impact for the company].”
- Practice Makes Perfect: Once you’ve honed your UVP, rehearse it out loud. Record yourself on video to identify areas for improvement. Practice with your coach, a trusted friend or mentor, simulating a negotiation scenario and seeking their feedback on delivery.
By internalizing your UVP and practicing confident delivery, you’ll be well-equipped to negotiate your worth and command the respect you deserve.
Benefit-focused instead of Career Regret
Salary? Yes. But Don’t Forget These Hidden Gems!
Know Your Worth, But Be Strategic: Negotiation is a dance, and while aiming high for your target salary is crucial. It’s equally important to strategize for a win-win outcome. In my coaching I advise clients to prioritize their non-negotiables.
Is a competitive salary essential, or do you value work-life balance with flexible hours more?
Perhaps robust professional development opportunities to propel your career growth are a key factor.
Understanding your priorities empowers you to leverage other aspects of the compensation package if salary negotiations stall. This demonstrates flexibility and positions you as someone who values a holistic offer. And ultimately leads to a deal that aligns with your long-term goals.
Read next:
No More Career Regrets, Just Rocket Fuel for Your Career
Let’s face it, nobody wants to look back and wish they’d negotiated their salary a little harder. So they could provide more money to take care of their family. About 60% of folks have been there, right? But here’s the good news. These steps aren’t just about getting that extra bump in your paycheck (although, let’s be honest, that’s pretty sweet too!).
They’re about taking control of your career journey and making sure it fuels you, not leaves you feeling under-valued. By following these tips, you’ll become a confident negotiator. Ready to advocate for yourself. And score the kind of opportunities that make you excited to jump out of bed each morning.
This isn’t just about the initial offer. It’s about building the skills and know-how to navigate your career with purpose. The ability to land that dream job. And crafting a professional path that lights you up. So ditch the career regret, grab these tips, and get ready to launch your career into the stratosphere!
I’m Dr. Twanna, an executive coach who empowers stressed, busy Black women to overcome imposter syndrome, self-criticism, and doubt. I understand the unique challenges you face in your career, including microaggressions, decision fatigue and feeling overwhelmed.
Learn more about how to find peace of mind, achieve your career goals, and maintain a fulfilling work-life balance, by booking a 30-Minute V.I.P. Roadmap session with me.
Recommended Books
- Melaninated Magic: 180 Affirmations to Nurture Your Soul and Unleash Your Black Girl Joy by Twanna Carter, PhD
- “I’m Not Yelling: A Black Woman’s Guide to Navigating the Workplace (Successful Black Business Women)“, Elizabeth Leiba.
- “Crucial Conversations: Tools for Talking When Stakes Are High” by Kerry Patterson, Joseph Grenny, Ron McMillan, and Al Switzler.
- “Influence: The Psychology of Persuasion” by Robert B. Cialdini.
- “How to Win Friends and Influence People” by Dale Carnegie.
- “Lean In: Women, Work, and the Will to Lead” by Sheryl Sandberg.
- “Dare to Lead” by Brene Brown.
- “The Memo“, by Minda Harts.
- “Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones“, by James Clear
- “Worthy: How to Believe You Are Enough and Transform Your Life“, by Jamie Kern Lima
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