9 Ways You Are Guaranteed To Ruin A Salary Negotiation

 September 15, 2017
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You could learn from your own salary negotiation mistakes—but wouldn’t it be much easier to learn from the mistakes of other employees? That’s why we asked nine hiring managers to share the some of the most memorable salary negotiations they can remember, describing exactly what the employees did wrong so that you can do better. Here’s how nine employers’ recall employees and candidates ruining their chances for better salary.

1. Using a personal financial situation as a negotiating tool.

“One of my employees requested a meeting to negotiate their salary. They came into the meeting and right off the bat started to discuss their personal financial situation at home: She was getting married and the wedding was costing more than she and her fiancé had anticipated. She used the wedding as a bargaining tool to ask for a raise. At the risk of sounding less compassionate than I really am, I must express the importance of leaving personal issues out of the conversation when asking for a raise. As much as I empathize with financial struggles, an employee can create a more compelling argument for a raise by providing evidence of his or her hard work.” —Lori Bizzoco, cofounder of NV Media, Inc.

2. Lacking confidence.

“I remember one employee who failed to be confident in what she had to offer. She failed to outline what her unique accomplishments were and how well they stacked up to the job description and therefore lacked the ammunition she needed to make a logical argument as to why deserved the compensation. Confidence is key. You should know what you’re worth and be able to list the reasons why.” —Jason Hill, founder of Sound Advice

3. Lying about a current salary.

“After a long recruitment search for the perfect candidate, I finally found someone who passed my interviews with flying colors. He had great experience, said all the right things during the interview, and was an interesting person to boot. But as we were going back and forth through salary negotiations, he made a fatal mistake: he lied about his current salary. He threw out a number higher than what was indicated in his initial paperwork. With such an amazing candidate, it was hard to believe he would lie. Giving him the benefit of the doubt, we directly asked him about the discrepancy. He admitted he was mistaken at that the lower number was his actual salary. This immediate sent red flags. Knowing that a lie already crept up even before he joined the team, I questioned his integrity. For the hope of earning a few more dollars, he blew his chances to join the team.”  —Mary Grace Gardner, career strategist at The Young Professionista

4. Asking for a raise when performance doesn’t merit it.

“The biggest mistake I’ve seen from employees over the years is asking for a raise when their performance is average or sub-par. For example, I’ve had sales people asking for raises when they are in the red and not able to close—or worse, people who take frequent vacations, use all their sick days … who have a general sense of entitlement and an attitude of ‘I deserve a raise because I’m just awesome.’ If these employees had shown they’re really worth their salt, by showing up to work on time and working as hard as they could, I would have given a them a raise.” —Joanna Buickians, vice president of operations for JBA

5. Getting defensive.

“I negotiated with a candidate who really ruined his chances of moving forward. When I presented my offer, he got defensive immediately. He negotiated a higher amount, and I returned with a salary that still did not meet his expectations—and that is when things went from defensive to downright rude. I asked that we remain amicable and keep the door open so that I could return if things changed with the salary. But the candidate reminded me I would not find anyone of his caliber who would take the offer I presented him, and he went on to bad mouth the assessment tool that the organization used for his role. His tone continued to be very combative. When you are negotiating … be polite and don’t take an offer personally. Being anything less than that can ruin your chances of getting hired even if you are a top tier candidate.” —Devay Campbell, career coach

6. Using scorched earth tactics.

“We were trying to hire a business director—someone well-connected to other businesses to help establish relationships. We took a chance on someone who knew the right people but had little experience working for a small company, and his negotiating strategy was scorched earth right off the bat, demanding almost twice what we had effectively agreed on in his previous interview. Playing that style of hardball might have been effective in larger companies, but in an open workspace with your new colleagues casually eavesdropping, it was off-putting for them to hear, embarrassing for my business partner and me to talk through, and made for such an untenable start that we ended up not hiring him.” —Mike Catania, chief technology officer of Promotion Code

7. Asking for a raise before meeting performance review goals.

“A particular employee hadn’t received a raise in about a year, and although we’d had a performance review detailing what he needed to do to be eligible for one—goals that he’d help set previously—he told me that he deserved a raise. My first reaction was that he didn’t quite yet, but after the meeting the conversation stuck in my head. My issue was that it is my job to determine who deserves a raise. One of my responsibilities is observing my team, evaluating their work, and acknowledging those who’ve performed well. I like to think I’m fairly good at it. The implication of my employee’s demand that he deserved a raise is that I was unaware of his performance—that I wasn’t doing my job. And while he certainly had no ill intentions—he just wanted more money—I found it off-putting. As such, I was less inclined to offer him higher pay. Eventually, he did get a raise, but only after we’d talked about it, and he had also reached the goals we’d set. My advice: avoid telling your manager what you deserve, and instead prove that you are deserving.” —Lauren McAdams, career advisor and hiring manager at Resume Companion

8. Making threats to quit.

“I remember an employee long ago who was interested in a salary raise and was very open about the fact that he was willing to leave the organization—right away!—if he wasn’t granted a pay increase. While [we were] interested in keeping him, the fact was that this employee’s skill set wasn’t particularly rare or otherwise ‘in demand,’ and as a result, his threats to leave the organization really didn’t hold much weight, and there really was no incentive for the organization to give him a higher salary. In this situation, I would recommend a softer approach. Instead of threatening to leave, an employee should make a reasoned, well-thought out case for a raise or promotion. However, if this is the route you choose to take, be very certain of the value of your professional skill set within your industry. It’s no use to threaten to leave an employer if what do for a living can be done by hundreds of other people.” —An employer at Pennsylvania College of Health Sciences

9. Negotiating every. last. detail.

“I had a candidate who received a verbal offer but chose to negotiate his title and responsibilities before negotiating salary. In most employment offers, there are three main negotiating points: salary, title, and responsibilities. It’s tough to negotiate all three after the initial offer is made. This candidate first asked that his VP title be bumped to an SVP title—that was approved. Then the candidate asked that his future sales region also include the Florida area—and the company agreed, so that was included also. Lastly, the candidate decided that the salary and bonus needed to be increased. But by the time we were discussing salary, the firm already thought he was high maintenance and dropped the offer. This individual should have negotiated his compensation first.” —Peter Keseric, managing consultant with Korn Ferry

This article originally appeared on Glassdoor.com and was written by .

Interested in refinancing student loans?

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LenderVariable APREligible Degrees 
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2.50% – 6.85%3Undergrad
& Graduate

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1.89% – 5.90%4Undergrad
& Graduate

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1.99% – 6.59%5Undergrad
& Graduate

Visit SoFi

1.88% – 5.64%6Undergrad
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1.90% – 5.25%7Undergrad
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2.39% – 6.01%Undergrad
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Visit Elfi

2.13% – 5.25%8Undergrad
& Graduate

Visit PenFed

Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Splash Financial.

Splash Financial Disclosures

Terms and Conditions apply. Splash reserves the right to modify or discontinue products and benefits at any time without notice. Rates and terms are also subject to change at any time without notice. Offers are subject to credit approval. To qualify, a borrower must be a U.S. citizen or permanent resident in an eligible state and meet applicable underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates are reserved for the highest qualified borrowers. If approved, your actual rate will be within a range of rates and will depend on a variety of factors, including term of loan, a responsible financial history, income and other factors. Refinancing or consolidating private and federal student loans may not be the right decision for everyone. Federal loans carry special benefits not available for loans made through Splash Financial, for example, public service loan forgiveness and economic hardship programs, fee waivers and rebates on the principal, which may not be accessible to you after you refinance. The rates displayed may include a 0.25% autopay discount

The information you provide to us is an inquiry to determine whether we or our lenders can make a loan offer that meets your needs. If we or any of our lending partners has an available loan offer for you, you will be invited to submit a loan application to the lender for its review. We do not guarantee that you will receive any loan offers or that your loan application will be approved. Offers are subject to credit approval and are available only to U.S. citizens or permanent residents who meet applicable underwriting requirements. Not all borrowers will receive the lowest rates, which are available to the most qualified borrowers. Participating lenders, rates and terms are subject to change at any time without notice.

To check the rates and terms you qualify for, Splash Financial conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, the lender will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

Splash Financial and our lending partners reserve the right to modify or discontinue products and benefits at any time without notice. To qualify, a borrower must be a U.S. citizen and meet our lending partner’s underwriting requirements. Lowest rates are reserved for the highest qualified borrowers. This information is current as of June 1, 2021.


2 Rate range above includes optional 0.25% Auto Pay discount. Important Disclosures for Earnest.

Earnest Disclosures

Interest Rate Disclosure

Actual rate and available repayment terms will vary based on your income. Fixed rates range from 2.44% APR to 5.79% APR (excludes 0.25% Auto Pay discount). Variable rates range from 1.88% APR to 5.64% APR (excludes 0.25% Auto Pay discount). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 36% (the maximum allowable for these loans). Earnest variable interest rate student loan refinance loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 2.04% and 5.8% to the one month LIBOR. Earnest rate ranges are current as of 6/8/2021, and are subject to change based on market conditions.

Auto Pay Discount Disclosure

You can take advantage of the Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. For multi-party loans, only one party may enroll in Auto Pay.

Student Loan Refinancing Loan Cost Examples

These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042.39. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,249.77. Your actual repayment terms may vary.Terms and Conditions apply. Visit https://www.earnest. com/terms-of-service, e-mail us at [email protected], or call 888-601-2801 for more information on our student loan refinance product.

Earnest Loans are made by Earnest Operations LLC or One American Bank, Member FDIC. Earnest Operations LLC, NMLS #1204917. 535 Mission St., Suite 1663, San Francisco, CA 94105. California Financing Law License 6054788. Visit earnest.com/licenses for a full list of licensed states. For California residents (Student Loan Refinance Only): Loans will be arranged or made pursuant to a California Financing Law License.

One American Bank, 515 S. Minnesota Ave, Sioux Falls, SD 57104. Earnest loans are serviced by Earnest Operations LLC with support from Navient Solutions LLC (NMLS #212430). One American Bank and Earnest LLC and its subsidiaries are not sponsored by or agencies of the United States of America.

© 2021 Earnest LLC. All rights reserved.


3 Important Disclosures for CommonBond.

CommonBond Disclosures

Offered terms are subject to change and state law restriction. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900), NMLS Consumer Access. If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown. ‍All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 0.15% effective Jan 1, 2021 and may increase after consummation.


4 Important Disclosures for Laurel Road.

Laurel Road Disclosures

All credit products are subject to credit approval.

Laurel Road began originating student loans in 2013 and has since helped thousands of professionals with undergraduate and postgraduate degrees consolidate and refinance more than $4 billion in federal and private school loans. Laurel Road also offers a suite of online graduate school loan products and personal loans that help simplify lending through customized technology and personalized service. In April 2019, Laurel Road was acquired by KeyBank, one of the nation’s largest bank-based financial services companies. Laurel Road is a brand of KeyBank National Association offering online lending products in all 50 U.S. states, Washington, D.C., and Puerto Rico. All loans are provided by KeyBank National Association, a nationally chartered bank. Member FDIC. For more information, visit www.laurelroad.com.

As used throughout these Terms & Conditions, the term “Lender” refers to KeyBank National Association and its affiliates, agents, guaranty insurers, investors, assigns, and successors in interest.

  1. Checking your rate with Laurel Road only requires a soft credit pull, which will not affect your credit score. To proceed with an application, a hard credit pull will be required, which may affect your credit score.
  2. Savings vary based on rate and term of your existing and refinanced loan(s). Refinancing to a longer term may lower your monthly payments, but may also increase the total interest paid over the life of the loan. Refinancing to a shorter term may increase your monthly payments, but may lower the total interest paid over the life of the loan. Review your loan documentation for total cost of your refinanced loan.
  3. After loan disbursement, if a borrower documents a qualifying economic hardship, we may agree in our discretion to allow for full or partial forbearance of payments for one or more 3-month time periods (not to exceed 12 months in the aggregate during the term of your loan), provided that we receive acceptable documentation (including updating documentation) of the nature and expected duration of the borrower’s economic hardship. During any period of forbearance interest will continue to accrue. At the end of the forbearance period, any unpaid accrued interest will be capitalized and be added to the remaining principle amount of the loan.
  4. Automatic Payment (“AutoPay”) Discount: if the borrower chooses to make monthly payments automatically from a bank account, the interest rate will decrease by 0.25% and will increase back if the borrower stops making (or we stop accepting) monthly payments automatically from the borrower’s bank account. The 0.25% AutoPay discount will not reduce the monthly payment; instead, the discount is applied to the principal to help pay the loan down faster.

Assumptions: Repayment examples above assume a loan amount of $10,000 with repayment beginning immediately following disbursement. Repayment examples do not include the 0.25% AutoPay Discount.

Annual Percentage Rate (“APR”): This term represents the actual cost of financing to the borrower over the life of the loan expressed as a yearly rate.

Interest Rate: A simple annual rate that is applied to an unpaid balance.

Variable Rates: The current index for variable rate loans is derived from the one-month London Interbank Offered Rate (“LIBOR”) and changes in the LIBOR index may cause your monthly payment to increase. Borrowers who take out a term of 5, 7, or 10 years will have a maximum interest rate of 9%, those who take out a 15 or 20-year variable loan will have a maximum interest rate of 10%.

KEYBANK NATIONAL ASSOCIATION RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.

This information is current as of April 29, 2021. Information and rates are subject to change without notice.
 


5 Important Disclosures for SoFi.

SoFi Disclosures

Fixed rates from 2.49% APR to 6.94% APR (with autopay). Variable rates from 1.99% APR to 6.59% APR (with autopay). All variable rates are based on the 1-month LIBOR and may increase after consummation if LIBOR increases; see more at SoFi.com/legal/#1. If approved for a loan your rate will depend on a variety of factors such as your credit profile, your application and your selected loan terms. Your rate will be within the ranges of rates listed above. Lowest rates reserved for the most creditworthy borrowers. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. SoFi loans are originated by SoFi Lending Corp. or an affiliate (dba SoFi), a lender licensed by the Department of Financial Protection and Innovation under the California Financing Law, license #6054612; NMLS #1121636 (www.nmlsconsumeraccess.org). Additional terms and conditions apply; see SoFi.com/eligibility for details. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE.


6 Important Disclosures for Navient.

Navient Disclosures

1. NaviRefi loans are made by Earnest Operations LLC, a member of the Navient family of companies, subject to individual approval and underwriting criteria. California residents only: Loans made or arranged pursuant to a California Finance Lenders Law license. Additional terms and conditions apply.

– To qualify, you must be a U.S. citizen or non-citizen permanent resident of the United States, reside in a state we lend in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.navirefi.com/help-and-questions. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Loan terms are subject to eligibility. Approval and interest rate depend on the review of a complete application. Loan approval is subject to confirmation that your debt-to-income, free cash flow, credit history and application information meet the minimum requirements. You must have a minimum FICO score to be considered.

– You can choose between fixed and variable rates. Fixed interest rates are 2.75% – 6.04% APR (2.50% – 5.79% APR with Auto Pay discount). Starting variable interest rates are 2.13% – 5.89% APR (1.88% – 5.64% APR with Auto Pay discount). Variable rates are based on an index, the 30-day Average Secured Overnight Financing Rate (SOFR) plus a margin. Variable rates are reset monthly based on the fluctuation of the index. We do not currently offer variable rate loans in AK, CO, CT, HI, IL, KY, MA, MN, MS, NH, OH, OK, SC, TN, TX, and VA.

– You can take advantage of the 0.25% Auto Pay interest rate reduction by setting up and maintaining active and automatic ACH withdrawal of your loan payment. The interest rate reduction for Auto Pay will be available only while your loan is enrolled in Auto Pay. Interest rate incentives for utilizing Auto Pay may not be combined with certain private student loan repayment programs that also offer an interest rate reduction. NaviRefi rate ranges are current as of June 1, 2021 and are subject to change based on market conditions and borrower eligibility.

– Loan cost examples: These examples provide estimates based on payments beginning immediately upon loan disbursement. Variable APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 5.89% APR would result in a total estimated payment amount of $17,042. For a variable loan, after your starting rate is set, your rate will then vary with the market. Fixed APR: A $10,000 loan with a 20-year term (240 monthly payments of $72) and a 6.04% APR would result in a total estimated payment amount of $17,250. Your actual repayment terms may vary.

– The information provided on this page is updated as of 06/1/2021. Earnest Operations LLC reserves the right to modify or discontinue (in whole or in part) this loan program and its associated services and benefits at any time without notice. Check www.navirefi.com for the most up-to-date information. Terms and Conditions apply. Call 855-284-4893 for more information on our student loan refinance product.

– Earnest Operations LLC – NMLS #1204917, CA CFL #6054788 – 535 Mission St., Suite 1663, San Francisco, CA 94105.
Navient Solutions, LLC – NMLS #212430 – 123 Justison St., Wilmington, DE 19801. Visit https://navirefi.com/lending-licenses for a full list of licensed states.


7 Important Disclosures for LendKey.

LendKey Disclosures

Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it  endorse,  any educational institution.

Subject to floor rate and may require the automatic payments be made from a checking or savings account with the lender. The rate reduction will be removed and the rate will be increased by 0.25% upon any cancellation or failed collection attempt of the automatic payment and will be suspended during any period of deferment or forbearance. As a result, during the forbearance or suspension period, and/or if the automatic payment is canceled, any increase will take the form of higher payments. The lowest advertised variable APR is only available for loan terms of  5 years and is reserved for applicants with FICO scores of at least 810.

As of 04/07/2021 student loan refinancing rates range from 1.90% APR – 5.25% Variable APR with AutoPay and 2.49% APR – 7.75% Fixed APR with AutoPay.


8 Important Disclosures for PenFed.

PenFed Disclosures

Annual Percentage Rate (APR) is the cost of credit calculating the interest rate, loan amount, repayment term and the timing of payments. Fixed Rates range from 2.89%-4.78% APR and Variable Rates range from 2.13%-5.25% APR. Both Fixed and Variable Rates will vary based on application terms, level of degree and presence of a co-signer. These rates are subject to additional terms and conditions and rates are subject to change at any time without notice. For Variable Rate student loans, the rate will never exceed 9.00% for 5 year and 8 year loans and 10.00% for 12 and 15 years loans (the maximum allowable for this loan). Minimum variable rate will be 2.00%. These rates are subject to additional terms and conditions, and rates are subject to change at any time without notice. Such changes will only apply to applications taken after the effective date of change.

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