Negotiating Your Salary During a Cost of Living Crisis

Employees worried about the rising cost of living are being warned not to undermine themselves in pay discussions by negotiating poorly.

Negotiation expert Noa Sheer, founder of Sheer Negotiations, told Nadine Higgins on The Prosperity Project podcast that many people – particularly women – undervalue themselves.

“It is incredibly risky to appear to the employer as undervaluing yourself, because if you don’t value yourself, no one else will value you.” says Noa.

Rather than walking into a negotiation armed only with a list of achievements or KPIs, Sheer says employees should think more strategically about what the employer needs and how they help solve those problems.

“You come in and explain 'why' it’s in everybody’s best interest that you get what you want.” advised Noa.

Sheer says you shouldn’t conclude that you’re not a good negotiator just because you don’t enjoy confrontation. “I don’t think that the two align,” she says and, in fact, “strong-arming” is often the least successful form of negotiation.

When you hit a brick wall on salary, she says there may be other ways to build a better package.

“You’ll be able to creatively create a deal that gives me some value in other things, and maybe it means more value than just the salary.”

That could include extra leave, flexible working arrangements, earlier salary reviews or clearer pathways to promotion.

Sheer says women often benefit from thinking more broadly about who they are negotiating on behalf of. “One mistake that we make ... is that we go in representing just ourselves,” she says.

Instead, she says women should think about the wider impact – whether that’s financial security for their family or “the next generation of women in this firm, to set a precedent”.

🔎 Read, or listen, here or catch the podcast interview on YouTube below:

About the Podcast

Most of us enter negotiations with a level of awkwardness and trying not to sound greedy. It's not the strongest tactic, but nor is making demands based on your perceived value. Negotiating expert and founder of Sheer Negotiations, Noa Sheer, joins Nadine Higgins on The Prosperity Project to share her advice on how to handle everything from salary reviews to buying a house.

Together they discuss the psychology behind successful negotiating and why women often undersell themselves before the conversation even starts. There are simple mistakes that could cost you thousands, and a few tricks that could help you reach your negotiating goals. Noa also explains why 'winning' isn’t always about money, and how understanding what really matters to both parties can completely change the outcome.

For more podcasts and interviews, take a look at Noa Sheer’s Negotiation Conversations on YouTube.