Farnoosh Torabi is a writer who has been writing about money issues for 15 years and below is the best financial advice she has ever shared, according to Business Insider.
 Farnoosh Torabi – Photo: Personal Page Farnoosh Torabi |
In June 2006, Torabi was preparing for her second job interview, and also her last in her life, at TheStreet.com. The position she wanted to apply for was a video reporter.
Torabi wrote: “I had a strong feeling that at that meeting, we were going to talk about salaries. When going to the interview, I had an income of $45,000 a year at NY1 News with the position of producer and sometimes an on-air reporter. I know this sounds crazy, but I want to double my current salary.”
A seasoned editor at NY1, who Torabi confides in, advised her to aim high when talking: “The best way to make more money is to leave.” This is also the person who suggested to Torabi to double her current salary when looking for a new job. And so, Torabi decided to demand a salary of $100,000 per year when applying.
“In my head I know I’m crazy, but at the same time I know I’ve been underpaid working at NY1. I asked the human resources director there and got the answer that with my position, the usual salary is around $85,000,” Torabi shared. She had been working at NY1 for almost 3 years, doing more than what she had to do and receiving fairly consistent pay from year to year. “How long do I have to wait to receive a minimum of 50% pay increase?” She said.
Coming to TheStreet.com, Torabi knew they had a relatively good income and expenditure chart and they were eager to open a video channel as soon as possible. At that time, TheStreet.com did not have staff to write, produce, collect news, shoot and edit videos. Torabi was psychologically prepared to do all of these jobs, taking on the work of 3 people combined.
“I’ll pay you $75,000 a year,” the interviewer told Torabi. “Actually, I’m hoping I’ll be able to double my salary now. I want to receive $100,000,” Torabi said and felt nervous.
“So can we agree that you will receive $85,000 a year now, and after 6 months we will renegotiate to receive $100,000 a year?” the interviewer asked.
“So can we agree with the figure of $90,000 right now, and I won’t mention the salary increase in 6 months?” Torabi replied.
Right after that, the interviewer shook hands with Torabi and they left. In just one job interview, Torabi agreed to a 100% pay increase. 6 months later, she signed a 2-year contract and received an additional $10,000 a year, helping her own a 6-digit salary for the first time in her life.
Torabi concluded: “As I have written many times: You don’t get what you deserve. You get what you negotiate for.” This is the best financial advice from Tarobi, who went to an interview at TheStreet.com 9 years ago. Speaking up and asking for more has become much easier for Torabi after she successfully negotiated her salary.
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