I worked in engineering and time after time, I consistently managed to get 20-25% pay increases either during the same job or when switching. I must say, it takes less effort to get the increase when switching because it appears more normal. Such a large increase within the same company usually means exceptional work or that you got promoted.
How’s it going everybody this is vita bush today is gonna be a very interesting video because today i’m gonna share with you how i got on average 20% pay increases on my salary six times in a row for these six instances of pay increases you can imagine at the very start i never knew that i was able to do something like this of course every single time i had an
Opportunity of negotiation and you have to recognize when you do have something like this then of course i try to get as much pay increase as possible i’ve been watching star trek these space nine and i can’t help but compare these negotiating tactics with the ferengi species on that show every for ranking business transaction is governed by 285 rules of acquisition
To ensure a fair and honest deal for all parties concerned well most of them anyway which brings to mind a thirty third rule of acquisition thank you for restoring my faith in the 98th rule of acquisition every man has his price it’s sort of like viewing yourself as an asset you’re selling yourself to the company and selling your services so you have to have
Sometimes leverage in order to do this so if you do some simple math over here 20% on average pay increases means 1.2 raised to the power of 6 means you get about 300 percent pay increase but some people might get a little annoyed that i’m not sharing the exact salary that i started with and the exact salary that i ended up with i kind of want to keep this private
And allows me to not really have my previous employer put two and two together and figure out what the heck i did back then so this is gonna be a serious story six different little stories to tell you about how i got each pay increase and what the percentage are for each company i’m gonna start off with a summer intern job that i got i applied i got it they offered
Me some amount and basically i knew that this company was gonna work me very hard that summer and i’m all for it because i’m an intern and i wanted to put all my effort into it and you know basically work very hard just to obtain a lot of experience you know just soak up everything that i can learn they offered me a certain salary and i looked at it and i thought it
Was a little bit low okay uh but i knew they’re gonna work me very hard so you know you can make up various reasons for why you want a certain pay increase so even before i started the job this is before i accepted the letter of offer i basically asked a hiring manager how many hours i’m expected to work well they said well around 50 i’m like okay if it’s 50 then
That’s fine with it i’m completely okay with putting ten hours every single day monday through friday so with that said i just basically thought okay you know normal working hours is 40 hours a week if it’s gonna be 50 it means you need to pay me 25 percent more in order to put in 50 hours a week so that’s all i said i said okay 50 hours more 25% more so that means
Whatever you pay me i want 25 percent more on top of this so i said this and i got it so at my first job i got a pay increase compared to what i got previously and this is pretty much warranted because i just graduated you know you have a degree you are entitled to get paid a little bit more so on top of this that first job i got another twenty five percent pay
Increase boost from my previous job during this first job i basically you know poured a lot of my life into it you know night and day i’m just thinking about my job how i can do it better i’m actually studying at home even so over the course of this job i got pay increases what summed up to be about 33 percent increase from when i started at that position at that
Company now the next bump and increase was about 20% is when i switch from one job to another what happened here was sort of like burning the bridge a little bit but it was warranted what happened was i got a certain offer at my new job for a certain amount and my current job i just said you know i’m gonna leave i already got an offer so they made a counteroffer
So i like oh wow you know there’s to employers sort of bidding for me so this is a very very good position to be in when my current job bid a little bit higher i let my new employer know that yeah you know i think maybe i want to stay at my current job but i really did not okay in reality i was going back and forth okay i wasn’t really trying to play one against
Another i really thought that hey okay yeah you’re you’re giving me a higher salary so maybe i should stay but then the new offer actually gave me another counter counteroffer and increased it some more so i just thought you know what i’m not going to do this playing back and forth too many times you know it might come back to bite me so that at most it went only
Two times the new job gave me an offer the old job gave me a counteroffer the new job gave me a second offer okay so this is the second time they made me an offer but with a higher salary so then i just thought okay i’m gonna take that one so that final offer is actually a twenty percent pay increase from you know whatever i had at the previous job so i switched
Job to the new job and i got a twenty percent pay increase but you guys should know that this is pretty typical in the silicon valley whenever you switch jobs you should definitely look to getting a twenty to twenty five percent pay increase especially if you stayed at your current job for two years three years or something and then usually your current employer
Sort of stagnates behind on giving you pay increases there stupid like that for some reason i think most of time they are relying on you being lazy and not going out shopping of course this is not what i do i just kind of shop around all the time even when i’m not looking for a job i go around shopping to see you know if they’re gonna give me offers i even go on
Interviews and stuff even if i’m not looking for a job so you know i continually do this all the time so the next pay increases about twelve percent the circumstances of this is a little less ideal than before because my current position at that job the company was going through some restructuring and i’m not too sure about this prospects of the new job really want
To stay at the new job anyway so when i got an offer for something that’s you know anything more than what my previous job was i was basically a static to take it so sometimes when you take a new job you also want to know if you have leverage to do so sometimes you might be able to bluff but sometimes you might be bluffing so much and they call you on this okay and
They don’t give you the job and then you’ll be stuck with no job so the case for me here was to get a job any job as long as it pays more maybe even if it pays less or something i just want to switch over to something and as long as i have something then i can look for a new job later on and then i would have leverage because if you have a stable job then you have
The leverage behind it to you know switch to a new one and then this kind of shows when you’re negotiating so during my next jobs which i was actually unemployed at the time my previous job actually laid off everybody in that division so it wasn’t like you know i was being lazy or anything they just did not want that whole division so everybody got laid off and
So i was out of a job for a while and i was still getting paid they had some sort of severance package so then i was enjoying myself not working for several months and then i came into a new job where they offered me stock options and stuff and this was basically about a 25% pay increases when you consider the total compensation package so these are paid out stock
Options so i actually invested these and actually cash them in so you can’t say oh this is a potential 25 percent it’s actual 25 percent that you know i converted to cash already so i definitely got this 25 percent increase from the previous job to you know the last one that i had so there you have it a lot of different tactics in some way shape or form negotiating
Tactics and i just kind of come up with these things on the fly as i go the first one being the tactic were they’re asking something from me okay and i need to look at what they’re asking from me that is over and beyond what is normal so then i took that as a negotiating chip i go okay you want to work from 40 hours to 50 hours okay so that is the negotiating chip
And then i go okay based on this percentage of increase you should pay me this much more rather than saying okay this is a job okay you should pay me this much more but what is the reason that they need to pay me more for right you can say different things like oh you know i have these skills or something you know you can use various different things you don’t
Actually have to use this same tactic where if you expect me to worth a hundred hours or twice as much you got to pay me twice as much you can just think of different tactics like these things that are negotiating chips you need to identify them and use them the second one i’m pretty proud of is when i switch jobs i got to employers to play against each other in
Order to do this you need to show your current employer the offer letter you have to put it in such a way where you’re not completely on board with it i guess you don’t just go okay here’s my offer letter i’m completely going to move you’re never gonna change my mind you just kind of go okay look here here it is and you can’t bluff about this either because if you
Show this to your employer sometimes they might get mad and just fire you and then go okay you know go to that other job so sometimes you have to know that they value you a lot and that they need you if they absolutely need you then they might offer to give you more money more salary or whatever reason so sometimes you have to know the situation that you’re in
Before you can play one employer against another the fifth increase was a 12% increase and yes this is not as much but the lesson here is to know when to not press your luck sometimes you have the leverage to negotiate sometimes you don’t sometimes you can bluff your way through and sometimes it’s too risky to bluff your way through otherwise i would be out of a
Job so that in that case i chose not to bluff i chose to just go with whatever they offered sometimes people say hey you know you should never do that but i chose to go with a safe route and just take the job take it as it is and it turned out to be a pretty good because i did get a severance pay i didn’t even have to work for several months and still got paid in
Full the lesson to learn from the last one that i talked about where i got a twenty five percent pay increase is to reach for a job that you want you need to identify the job that you want and expect a certain salary there are moonshots sometimes there moon shots and sometimes you might get it and i feel like this position was a little bit higher and i expected
A certain salary increase so i looked at the previous salary and i go okay the next salary increase would be this amount okay i want a certain amount of pay increase and basically i just applied to a lot of jobs with this expectation in mind i go okay i want this amount of salary increase even though i had you know no job at the time i just go i want this much
I’m gonna apply to various jobs until i get it and so i happen to get this job got my 25% pay increase and the logistics of how to obtain all these jobs i got i wish air in my next video thanks for watching everybody don’t forget to give me a like on this video comment down below let me know if you had such luck in getting salary increases or share some of your
Stories with me i would like to listen if i gave you some good ideas on how to increase your salary you don’t forget to help support this channel through my audible link down in the video description below where you can get a free audio book and you don’t like this audiobook or the subscription service you can cancel it before the subscription expiring can still
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Transcribed from video
How I Negotiated 20% Pay Raises 6 Times in a Row By BeatTheBush