Lauren Simmons On How To Negotiate A Bigger Salary

At 22, Lauren Simmons became the youngest full-time woman trader on Wall Street. Now 27, Simmons is an author, producer, TV host, podcast host and angel investor, and serves on the board of multiple finance companies. She’s on track to earn around $1 million this year alone.
But Simmons previously found herself in a position familiar to many Americans: She wanted a raise. While working at the New York Stock Exchange in 2017, she earned just $12,000 a year.
“The minimum wage at the time in New York City was around $60,000,” she tells CNBC Make It. To anyone else feeling underpaid, “I’m right there with you.”
For Simmons, the most integral part of asking for a higher salary is knowing “your absolute wants, your absolute what you can compromise on and your absolute no’s.” This list can consist of anything, from more money to more vacation days, or even help paying off your student loans.
It’s important to remember your salary alone isn’t everything. “There are so many things that go into your salary package,” Simmons says. “I want you to think outside the box of, ‘I only want this dollar amount.’” You should always ask yourself, what are the other things I want?
It is also worth remembering both your short-term and long-term career goals. There were certain items on Simmons’ negotiation list that were OK with in the short run, but didn’t make sense when considering her long-term career.
For instance, her company initially agreed to bump her up to $8 an hour instead of $7. Short-term, she was OK with that because “I loved my job.” But once Simmons began to think about her long-term future, it wasn’t enough: “I had to have an internal conversation with myself of the absolute non-negotiables of what I was going to do going forward.”
For Simmons, that meant pledging to never accept a salary less than $120,000, because she knew those around her were making that amount, with more days off to boot. Other non-negotiables for Simmons were her mental health and wellbeing. “Those things I absolutely could not compromise on,” she says.
Simmons also emphasizes the need for a backup plan. If things do not go your way in a salary negotiation, it is important to know what you want to do. The company will either agree to the full amount you ask for, although Simmons says this is “unlikely,” or “they will give you a pay increase, but you will still be unsatisfied in your job because you don’t feel like you’re getting paid what you should be getting paid.”
If you find yourself not getting the raise you deserve, “I would be putting my exit strategy together on what your next steps will be,” Simmons says.
All in all, going into the negotiation with both an exit strategy and a list of non-negotiables will go a long way in getting you what you want from the conversation.
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Lauren Simmons On How To Negotiate A Bigger Salary

[@EnigmaTanker]

I left with no information about the subject matter after watching this video. Best resources on getting a good understanding of pay based on your skills, experience and background: Glassdoor, pay scale, blind app, fishbowl.

[@robynwalters2749]

I feel like she did not tell me how to negotiate a higher salary lol

[@kevinwong4419]

Love yourself and value yourself. I guess thats it lmao

[@FinancialShinanigan]

Can't wait for her online course on how to negotiate a better salary

[@AllAboutPurple]

😂😂😂😂😂

[@ede.5487]

This doesn’t really give insight on how or when to negotiate. This was more like a self plug 😐

[@youtuber9046]

She spent 2 years on the stock exchange floor. How is she now an expert in all these topics they use her for on this channel ……

[@s.m.4198]

First of all, she’s beautiful. I just spent my first year at my current company working on several projects, more than anyone else on the team. Now I’m on a new big project and helping my manager with his. He told me that his manager put him up for promotion which is great but I took a lower position when I accepted the job. I’ve worked very hard to prove myself. Im very disappointed. It seems unfair. I feel used.

[@SEEZEE]

Bruh I been seeing her in way too many recent CNBC videos. “Youngest female trader on NYSE” ok we get it. Now let some other people share their knowledge. I’m starting to feel these videos are just more self promotion than useful information sharing.

[@sergeydudukin4214]

The only real way to negotiate salary is to have offer from another company ready and be prepared to walk away .

[@ukan.536]

Yes, exactly.

[@moff_gideon]

I don’t understand why they used her for this video and not someone more experienced in salary negotiations? I think it could have been more insightful

[@dancorvalan3205]

Well, let me "show" how the unsuccessful side of this salary thing goes. Myself, immigrant, 2015, male, single 32yo, in San Diego, Help Desk Analyst, no college degree nor any certificates. In one year 8 months, after 3 jobs making $15/hr (practically 1/3 of what people in the same area make) got burned out because although i had very recently moved to the US and so had nothing, couldnt even make enough to cover all my monthly living expenses, the basics. Still after 1 year 8 months i wasnt able to go out on a weekend ever, to do anything because i had zero money for that, zero. Not even to buy a skateboard. I got one because i traded one for a glass bong i was given for free. But back to the sad story, burned out, quit my job without having another and its been unemployed ever since. Five years later, im 39yo unemployed barely looking for another job, still have nothing, still dont do nothing, but now im homeless living on the streets. But at least now i dont care anymore. Oh, forgot to mention, still, the only thing i have from my time working are the debts i made because i payed to work and not worked and got payed. Disasters do happen. Reading now i see my story is absolutely lame, biggest loser here everybody, i found out what im good at.. kudo's to me.

[@zacharyhenderson2902]

You look really good for 39 man. If you're still looking for a job get at me

[@sophiamitchell4911]

When it comes to investing, what’s your say to anyone with over *100K $* looking for the best ways to invest it and as well make good earnings off it?

[@douglaschester2097]

Good question. There’s no shortcut to getting rich, but there are smart ways to go about it.

[@douglaschester2097]

I engage in diversifying various investments through proper planning and management of a good Investment Professional and so far have earned many returns (the amount is confidential).

[@sophiamitchell4911]

I’ve always been fascinated with investing and I need to start now. Could you possibly give more information about the lnvestment Professional and how I can reach out?

[@douglaschester2097]

As to get more details about my lnvestment ProfessionaI; *(Genevieve Glen Rogers)* easily do quick internet research where you can easily write her from, do your research with her full names mentioned.

[@peterferguson187]

Great stuff! Got it.

[@rite6560]

Wait…so how can I negotiate for a better salary?

[@betterourselves]

Thanks

[@Kennyfan13579]

Great advice but I think the part being left out is self-evaluation of your talent and skill compared to others in your role, industry, and location.

[@paoweeb304]

Nice. First comment. Yay. Would like to thank everyone.

[@brownskinkinkyhair]

Thank you for the video. Can you please talk about how to ask other's about their salaries? There's still a stigma there and knowing your colleagues made ~$120k helped give you the leverage to know what to ask for. Also, what are the logistics for asking for an increase in compensation? How often do you do it? How do you justify? Etc.

[@marcos223ful]

You have sites like Glassdoor, payscale, indeed salaries.

[@brownskinkinkyhair]

@@marcos223ful For sure, but not all job titles and companies have the same amount of compensation information readily available. In addition, a job title at one company can include different duties than another with the same title. Also, the cost of living differences among states can contribute to the difficulty of figuring out the "market rates" for a position. It's more comparable to know what people that does similar day-to-day tasks, is at the same company, and has similar education, experience, etc. as you makes. In the video, she mentioned that she knew her colleague makes $120k and leveraged that for her salary. Unless I'm mistaken, she didn't go to those sites, she got that information straight from the source and I would like to know how she went about that.

[@marcos223ful]

@@brownskinkinkyhair i know specifically with Glassdoor you are able to filter it based on job location, also they have a market calculator with a experience editor. Now answering your question, you can be straight forward with it. From experience i would ask a co worker you cool with, can be clever with it like "hey girl I wonder how much (example role) make?" Then be like "Yeah i know our pay raises coming, what you think I should ask them for? How much did ask when you first got hired?". It's nothing illegal...at least not in my state 💀

[@marcos223ful]

Also short story (idk how we got on topic about pay): I was a newhire with another woman, and we were in training and our trainer been in the same role for 5 yrs but we were paid more than her. She didn't make a fuss about it, we actually encouraged her to move into a senior role she was scared to do and doubting herself. And she moved on to be a trainer for the whole team and liked it and got paid more (because she worried about paying for a wedding).

[@brownskinkinkyhair]

@@marcos223ful Okay, thank you 😊

[@Financegirl12345]

Money With Lilly has a video on this topic with more practical advice… Didn’t get much from this video… good on her for her success though. Get it girl.

[@marcos223ful]

For me , I just always had a good excuse. My rent was going up and inflation was on the rise at the time...well still is...i told them so.

[@Tomasthe1st]

120k? More than double our income here in Maryland.

[@psp785]

this girls story is all cap

[@lorrainea.285]

OMG HOWWW many times are they going to show the SAME person with the SAME story🤦‍♀️🤦‍♀️ Geeesh!!!!

[@YasinNabi]

The real success comes, when you struggle and move forward.... Life is always fair if you be fair with life.... a fellow creator

[@SmokeJuly]

Love her story but how are you in finance and not understand that making 12k Vs 150K does allow you to save and live differently? 😒

[@kyliealex6347]

Because of the economic crisis and the rate of unemployment, now is the best time to invest and make money 💯

[@tadeuszgraczyk3035]

@Rose comfort Oh really,i got confused also but i was referred to CREED GILBERT

[@wallacepatrick1037]

Yeah sure,I heard Alot about investments with CREED GILBERT and how good he is, please how safe are the profits

[@wokomamay2841]

I have also been trading with him, profits are secured and over a 100 percent return on investment

[@vincentpaul7622]

How do i contact CREED GILBERT

[@mrdave6413]

@@vincentpaul7622 he's available on what's app

[@ghettochungus1769]

#1 you must be attractice

[@BTConly391]

I am waiting for a more centralized crypto currency.🤡💩🧠 -said this girl in one of these CNBC videos

[@wealthweb1]

Literally no information here.

[@ADHD55]

Women live a much easier life then men

[@DoneDealAC]

She failed the series 19

[@Jonathan01233]

Want more money go to another company.

[@zcorpalpha2462]

LMAO 🤣 Retired early in life, so this video is kinda pointless to me. Unless they want to interview a real success story. But hey, WTF do I know other then enjoying my bourbon 🥃 🍃 Good Luck 🍀, I guess

[@5150santana]

Negotiate for her means sleep for an increase let's be real now.

[@dlynch2967]

Thanks