The Happy Hour Crew Talks All Things Job Related
Today is the last Friday of the month, and my regular listeners know that on the last Friday of the month, I host the happy hour on the podcast, where I gather great friends with me to drink cheap drinks and talk about money topics. This is the first Happy Hour of the final year of Martinis and Your Money, and we’re talking about all things jobs, specifically managing through toxic work environments, getting paid what you deserve, and expectations your company or manager may have of you.
What are we drinking?
Melanie - Water with non-alcoholic bitters
Colin - Fanta and Vodka
Alicia - Champs & Chambord
Shannon - Gin and Tonic
Podcast Notes
Navigating Challenging Work Situations
Everyone on the Happy Hour Crew has experienced or witnessed toxic situations in a work environment. Sometimes, we’re asked to leave a job; other times, we go on our own terms. Similar to a romantic relationship.
Every job will have positive and negative aspects. How do you know when a job is toxic or when it is time to leave? There is a balance between setting boundaries and not staying longer than you should versus quitting the first time something is challenging.
Weigh the pros and cons. If you need to leave, don’t let positivity keep you in a toxic position. If you feel like your soul is being sucked out of your body when you clock in to work, that is a sign it is time to go.
Depending on where you work, you may be able to change teams or departments rather than having to leave the company altogether. Look to see if there is another role or team you can switch to if it may be a better fit for your needs and goals.
If you are being mistreated or underpaid and want to leave, make a plan to get out. The longer you wait, the more resentment can build. The best time to look for a new job is when you already have one, so you don’t have to wait until you quit to start looking.
You may not always love the work you do. Sometimes, a job is just there to meet your financial needs, and that’s okay. As an employee, set your non-negotiables and stay grounded with those through your search. Whatever work you do, you’ll spend a lot of time there, so you want to at least be comfortable and motivated to do the job.
Negotiating Salary & Other Benefits
Negotiating is like a muscle. You can practice, and starting early helps you compound growth from an early stage. Companies expect you to negotiate, so don’t hesitate to do it.
Knowledge is power. Do your research by talking to other people in your industry and looking at information available online. Once you know what is possible, you can start working towards it.
Different employers will have different budgets, so be prepared to negotiate but also be ready to hear their response. If they can’t budge on the salary, you may be able to find other perks or accommodations to compensate. You don’t have to answer an offer right away. You can thank them, ask for some time, reflect, and respond when you’re ready.
When you start a job, keep a ‘kudos’ file. Any time you receive positive feedback or do a good job, save it into that file. When it’s time for performance reviews and salary re-negotiation, you have everything ready to go to share with your employer. If you can tangibly show them the value provided, they will more likely be receptive to your requests.
You may think your work will speak for itself, but your boss has a lot going on and may not notice everything. It isn’t personal. Keeping documentation reminds you and them of everything you’ve accomplished.
Understand your complete job description and make sure you’re reaching those expectations before asking for a raise. As an exercise, write down everything you do for your role each day and compare that to the job description. This can help you and your boss understand if there is a disconnect or create a plan for how to reach your desired salary.
Remember not to take these conversations personally. Businesses have a budget and sometimes can’t afford to pay more. It’s about understanding where you stand and deciding if it is worth it. You can always walk away from an offer or look for a new job.
Final Thoughts
Always prepare for these conversations ahead of time and be mindful of your requests. Be careful of what you say to your boss and what gets put into writing.
Don’t be upset if you don’t get the answer you want. You can try to negotiate other perks and benefits or walk away if they can’t meet your needs.
You will work with people you don’t like at every job, but most people aren’t evil. Everyone is working through their own lives, which can cause them to behave in certain ways at work. Try to be kind, but set boundaries to ensure you are treated with respect.
It’s important to have boundaries between your work and personal life. You want to have friends in the workplace; sometimes, it can mix with your personal life. That’s okay, but make sure those boundaries are in place so work stays at the office and your personal life stays outside.
Always remember it’s a small playground. How you play on the playground will last a lifetime. Every experience is a learning opportunity. No matter the situation, you’re learning something new.
Takeaway: My biggest takeaway is that I know change is hard, but sometimes you have to do the hard thing and make the change knowing that your new job is either the something better you were looking for or it’s going to lead you to your something better.
Random Three Questions
What is the most surprising pivot in your career journey?
What is your favorite Broadway show?
If this was your last meal on earth, what would it be?
Connect with Happy Hour Crew
Melanie Lockert: melanielockert.com
Colin Becker: @iwillbecolinyou & colinbecker.com
Alicia Lazarto: CFO of The Financial Gym
Shannon McLay: Founder & CEO of The Financial Gym
If you have any topics you would like me to cover on this podcast, or if you’d like to get in the financially naked hot seat, I encourage you to email me at Shannon@fingyms.com, or join the private Martinis and Your Money Facebook Page, and let me know what you want to hear.
In addition to hosting this show, I’m the founder and CEO of The Financial Gym. We are celebrating 10 years of this journey, and now, more than ever, I see the importance of the work we do every day. Rising inflation, the return of student loan debt, high interest rates on mortgages, and volatile stock markets make it a time when you need a best financial friend to help you make the best choices.
At Financial Gym, you get paired with a Certified Financial Trainer, who we call your BFF. Our team has coached clients through every financial season, whether they were living paycheck to paycheck or headed into Financial Independence and retirement. As a reminder, we work with individuals, couples or business owners.
And the exciting news of 2024 is that Financial Gym now has a sister company, FG Advisory Services that’s available for people who are looking for more traditional financial advisory services like asset management delivered by a team that looks and behaves nothing like a traditional financial advisory services company.
We literally have a solution for you no matter where you’re starting from. So what are you waiting for? Head over to financialgym.com to get started today. Our warm-up calls are free of cost and judgment.