This question if often comes up as an argument in situations where (Not an exhaustive list) a) you ask for a hike b) someone owes you money is not giving back c) dealing with low balls I have often found myself at loss of words with this one. Example for a) I have a decent pay and work at mid-senior level. Had been working tirelessly for this company, an year went by and got no hike, no promo or a stock refresh. Inflation crept up and hit my savings hard. So I setup a connect with my boss to ask for a hike. Me: Hey boss! Need a hike She: Why? Me: Have been performing decently She: Don't think so, you are only meeting expectations and nothing special Me: You know inflation has been crazy and has hit me hard She: We had paid you well to begin with, you should be fine Me: I'm sorry but I don't feel so motivated about my compensation any more She: I'm sorry you feel that way - have seen this a lot - what would you do with the money anyway? Me: (silent) I did not want to tell that - I need a house, me and my wife are planning a kid, I need a new car (been 6 years driving a pre-owned Toyota), me and my wife want to go for a vacation and maybe 100 other things - the biggest point I deserve it She: I don't think I can do much here, let's talk in another 2-3 months And just like that, it's been another 6 months and I have working on the same salary. Example for b) A friend got laid off and was going through a tough time. I gave them some money to pay for their rent and some other stuff. They got a job and almost an year went by without payback. Not that I needed the money, but since amount was a substantial one - $12,000 - I reached out and asked when could I see it back. And there was the question - "What would you need the money for?" I simply said, "it's my money man, give it back". And he said - "You don't really need the money, I do" I told - "What do you need it for? I was only helping you out" "I need it because my kid needs blah blah blah, my wife needs blah blah blah, my parents need blah blah blah" I said - "Earn your own money, just return mine." To which it came - "I won't, what will you do?" I was mum, I could see I had lost since I had nothing against that person. Blinders please help me - How do it give pushback to this argument? TC: 165k in Texas YoE: 8 Also - please don't say leetcode and change jobs - I believe you can't switch your job every time someone snarls at you. Genuinely want to know how to answer this without letting anyone know my true desires - "what would you do with the money?" #negotiation #moneymatters #hike #salarynegotiation
A/C) Usually talk about how commute and rent has become expensive. Works well mostly when negotiating offers. B) I would rather lose a friend than both my money and a friend. Just let it be a life lesson.
In that case For a/c) manager would usually say - well it's the same for me, you and everyone - paying you a hike will mean paying a hike to everyone - and we can't afford that
Idk at that point consider job hopping if that's an option for you.
Rule #1 never loan money out to someone if you can’t handle not getting it back. Now it sounds like you’re just not preparing yourself when you negotiate with your boss. You showed in your first encounter that they can easily wave you away and you would be ok to keep working for them. What is their incentive to get you a raise now? What you should have done and should do is to document all your achievements. How many new people did you onboard and get working in a short amount of time? How much more productivity or revenue did your team impact? Why are YOU a valuable employee to keep happy on their team? Now if you continue to be looked over for promotions and raises it shows the company doesn’t value you and yes you should look for a new job. You’re not their slave. Have some faith in yourself that you can and deserve better. Good luck!
165K in Texas not counting your wife’s earnings and you can’t take a vacation? Or have a kid? But you can give your friend a 12K loan
I didn't get it - point being?
An important negotiation skill is not to get caught in very specifics of a discussion. You should not be looking to answer/justify your asks with a detailed rationale. Bring the discussion back out of the details. To your boss, you could say something like “The pay isn’t keeping up with inflation” and keep repeating that in different ways (just the way your boss is deflecting your ask by asking about your needs). Keep the discussion going by asking what company policy is, how they decided not to provide a raise, what level of output should you deliver to get a raise, why not give you a promo, etc. Of course, you need to ensure you are respectful and don’t piss off someone who can make your life really hard. To your friend, you can say that you loaned the money in good faith and expect it to be returned. Establish a payment plan. This is a very different situation… you have given him the money with no legal protections. If you don’t manage to maintain a good relationship with him, he can sever ties with you and not pay you back. Again, don’t focus on why you need the money but instead on his moral responsibility to pay back. Emphasize on your good friendship, how you have always know him/her to be a decent person and acknowledge that money is still a hardship for them. Establish a payment plan and cross your finger that you get at least some money back. Best of luck! Tough situations to be in.
I agree with he payment plan stuff! Maybe it was the pressure of a big amount
Cocaine and hoors The only acceptable response to an equally ridiculous question.
Hahaha... yes those are my true wishes indeed 🙏
“what would you do with the money anyway?” This is personal. I would be boiling if someone asks me this. How tf does it matter to the person asking this question ? Seriously, some people just can’t mind their own business.
Yeah me too - but - how would tackle this?
If it’s possible to politely convey them that it’s a personal thing, I would do so. But otherwise, I would just cook up stories like - medical issues etc. Anything to get my job done. At this point, I wouldn’t care about being honest or guilt etc because asking this question in the first place itself is disrespectful
Is it even legal for an employer to ask that question?
It's not illegal, it's a tactic - people often try to get details aa much as possible. If you say something like - I want a car or a house - managers will be like "House is a lot of maintenance you know, try renting - I myself have been in rent for 10 years now" Basically, managers will try anything to get information and keep you at the same level
Telling someone you're planning to have a child should shut them up.
“To pay off student loans” “to pay off medical bills”
12K loan was stupid. “What do you need the money for?” Reply should be “My mom is getting surgery. I need the fucking money yesterday.” Then after he send you back either cut him off or ignore him. He’s not your friend.
Not great actually - do you have a better argument - what I'd I don't want to stoop down to that level
Have your mom call him. Or go to his house with goons lol. Are you Indian OP?
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I would say “how is that possibly relevant”
This might be good for a) but have seen some clever managers get out of it by saying - we make sure by keeping our employees the happiest by giving offering them the highest band, you already one one" Or something like "You are not a candidate for a hike for another xyz months"
Then they only respond to threats of leaving. And you would find out how much they value you at that point.