Developing People...
Inspiring Success


"Never... ever suggest they don't have to pay you. What they pay for, they'll value. What they get for free, they'll take for granted, and then demand as a right. Hold them up for all the market will bear".
-- Lois McMaster Bujold

Volume 2, Issue 4 -- April 2005

In This Issue

Feature Article  |  Resources  |  Fast Facts 
  Survey  |  What's New  |  About Regina

NEW!
Interested in connecting more regularly with Regina's opinions? Check out Regina's new Web Log (known in the industry as a Blog). Her blog is interactive, so if you have a comment on what you are reading, be sure to post your thoughts!

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Feature Article - 5 Tips for Getting Paid What You're Worth

According to a recent study conducted by the Institute for Women's Policy Research, if current wage patterns continue, a 25-year-old woman, working full time, will earn $523,000 less than the average 25-year-old man by the time they both retire at 65.

Want to get paid what you're worth? Then consider these tips:

  1. Banish the romance myth about money. If you haven't figured it out by now, prince charming isn’t coming. Further, money is not the "necessary evil" that we have been taught. It is a currency of exchange in our society. You provide a service and in return you receive money. It’s that simple. Get comfortable with this concept of money.

  2. Develop a career versus a job mentality. Develop a career plan, and write it down. A written plan will help you make better choices. Plus, a planned approach will help you avoid the appearance of job-hopping. And, should you decide to exit the workforce (for family or other obligations), it will be easier to get back on track when you decide to do so. Remember, you can always adjust your plan.

  3. Develop a sense of your own worth. Noble poverty is not a virtue unless you are Mother Theresa. Take a lesson from the L'Oreal commercial where the woman says, “I’m worth it.” You are. Repeat that to yourself every day as many time as you can. Do this until you believe it. You will be amazed at the prosperity that unfolds for you.

  4. Adopt a “yes and” mentality. Lose the “either/ or” attitude that has been drilled into your head. That’s the attitude that tells you “I can have a stressful job and make lots of money” or “I can have a job making a difference in the world.” Repeat after me: “I can do both.” Change your model to “I can have a vital career (i.e. interesting work for excellent pay) and a vital family life.”

  5. Think big. You have to make money, so why not make top dollar in your chosen profession or field? It all starts with you. You have to create your own reality. Tell yourself you’re going to make six figures or more. Write it down. Say it out loud. Share it with a friend. Then see what happens. The universe has a way of helping fulfill our strongest intentions.

Only you can change your mindset and attitude about earning what you’re worth. What are you waiting for?

Regina Barr is a management consultant with a passion for helping women develop their full potential. For more information on her programs and services, check out her website, http://www.redladder.com

Copyright 2005 Regina Barr, Red Ladder, Inc.

Resources

Getting What You're Worth™ - Check out my website for the program I offer on getting paid what you're worth. It's listed under Women's Topics.

Earn What You're Worth, by Nicole Williams, Cheri Hanson. This book shows working women how to up their earning power--by using their unique skills and abilities to build a rewarding, lucrative career.

Are You Getting Paid What You're Worth? - Article by Pamel Paul. Step-by-Step guide to getting paid what you're worth

Salary Wizard - Enter your job title and location to find out what you're worth in your area

Fast Facts

March Survey Results - Getting Paid What You're Worth.

64% of respondents AGREE that they're uncomfortable discussing pay raises with their boss or raising my fees with their clients.

82% of respondents DISAGREED that during salary negotiations in job interviews they tend to undervalue their worth in order to get the job.

67% of respondents DISAGREED that when it comes to asking for a raise they think, "Well, my company only gives raises once a year, so what's the point?"

90% of respondents AGREED that they let their boss know their goals for advancement and what benefits they'll bring to the table if she helps them get there.

Only 44% of respondents AGREED that in their business they raise their rates regularly.

67% of respondents AGREED that when they raise their rates in their business, their clients are happy to pay the increase because they appreciate the value they bring to their business.

Survey

Each month we will be asking for your input on a short survey. This month our survey is on overcoming obstacles.

What's New

Interested in hearing Regina speak? Here are some upcoming programs that are open to the public:

April 19, 2005, 5:30 – 8:30 p.m., BPW Program, Topic: Getting Serious About Pay: From Negotiation to Litigation, location The Courtyard at the Depot, Mpls, MN.

April 28, 2005, 12:30 – 1:30 p.m., University of Minnesota, Topic: Leadership, Minneapolis MN.

April 30, 2005, 10:30 - 11:15 a.m. and 1:30 - 2:45 p.m., Power of I Conference, Topic: Inflate Your Success, Bloomington, MN.

May 5, 2005, North Carolina Banker's Association, Women in Banking Conference. Topc: Breaking Barriers: Climbing the Corporate Ladder, Greensboro, NC.

May 18, 2005, 7:30 a.m. – 12:00 p.m., Financial Women International & Minnesota Bankers Association, Nice Girls Don’t Get the Corner Office, Bloomington, MN.

Contact us at info@redladder.com for information on how to register.

About Regina
Regina Barr, President of Red Ladder, Inc., holds a BBA in finance/management and an MBA in management/ marketing. An advocate of lifelong learning, she is currently enrolled in the Master of Arts in Human Development at St. Mary's University in Minneapolis, MN. Her focus: leadership and issues facing women in business. Regina has over fourteen years in the financial services industry where she has a broad range of leadership experience in product, sales, and marketing.

http://www.redladder.com
Email Regina

What our clients are saying...
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Susan J. Johnson, Executive Vice President, Northeast Bank

Copyright (C) 2005 Red Ladder, Inc.  ~  info@redladder.com  
 651-453-1007  ~  Inver Grove Heights, MN  55076