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Ep #38: Money and Compensation Full Episode Transcript With Your Host Kori Linn Love Your Job Before You Leave It with Kori Linn Ep #38: Money and Compensation This week we’re talking about money and compensation. You are listening to Love Your Job Before You Leave It, the podcast for ambitious, high-achieving women who are ready to stop feeling stressed about work and kiss burnout goodbye forever. Whether you’re starting a business or staying in your day job, this show will give you the coaching and guidance you need to start loving your work today. Here’s your host, Career Coach, Kori Linn. Y’all, we are going to talk about money today. And I’m so excited because I think that this is a topic that deserves so much talking about and yet I don’t see enough people talking about it. I don’t see enough conversations about it. It’s interesting because in the coaching world, which I’m now part of, people talk about money openly all the time. We’re all talking about our numbers all the time and people are very open with it and there’s very much this acceptance that coaches want to make money. And they want to make a lot of money. And that that’s a beautiful thing because it’s also about having a huge impact on the world and what we’re doing to create that money. And the idea that people, but specifically women and other marginalized communities can create wealth for themselves and wealth for their communities by doing something that is helpful for the world. So much of what people have been raised to think about money is that it’s evil and that it’s exploitative and that it hurts people or that people hurt each other to get it. And in the coaching industry that idea gets totally turned on its head. Where we’re like money is amazing, and it’s wonderful, and you can create it doing things that are good for yourself and for others. It’s very much like moving from an either or to a yes and. But I think that’s not the way that a lot of us think about money when it comes to being an employee, especially if you’re in the corporate world or not as involved in the coaching world. And I know I’m talking a lot about the coaching industry and y’all, my listeners, are probably not coaches, although I do have people out there I Love Your Job Before You Leave It with Kori Linn Ep #38: Money and Compensation know who listen to me who maybe want to become a coach. That used to be me. I was in corporate, but I wanted to become a coach. But I wanted to bring that up because I think it really highlights how differently we can think about money and how the way we think about money matters. Because I see a lot of people who want to make more money in their career but they’re harboring all these old negative thoughts about money that are going to make it very hard to make money. And this used to happen to me. I've done a lot of my own self coaching on money, and I've had a lot of coaching from other coaches on money. And it's been really helpful. Especially for allowing me to create a business that serves people, where I also make a lot of money. I make way more money than I used to make when I was in corporate. I mean, technically, I'm like now fancy and I pay myself a salary. My salary is lower than it was in corporate. But I'm also a business owner and the business revenue is much higher. I think at this point I've already earned this year in 2021, and it's July, in revenue, which is not profit but go with me, more than my yearly salary back when I worked in corporate. And that's wild, because I'm having way more fun doing work that really matters to me and doing work that I believe helps people have a better experience of their lives, their careers, their relationships, all the things. And I love that as an example because I think so often, we get caught up in this like, “Oh, it's not about the money” thing. But work is work. It's not a hobby, so in many ways it is about the money. And we're going to get into more of that in a minute. But I just wanted to give you all a little spiel about why I care so much about this topic. So I also want to share with you a Gloria Steinem quote which is, “The truth will set you free, but first will piss you off.” And during this podcast episode that may be your experience. You may be pissed about what you learn here. You may be pissed about what girls and women are taught when it comes to money and compensation and how that plays out for our careers. Love Your Job Before You Leave It with Kori Linn Ep #38: Money and Compensation And you may be especially pissed about all the money you've left on the table up to this point in your life and in your career. And I know that's something that I was pissed about at a certain point when I realized how much I just took what was offered to me, instead of negotiating more to get a salary that I really wanted. Or that would have been commensurate with the value that I was adding to that organization. I remember one of my friends, who's also a mentor of mine, I shared with her my salary when I was in corporate and she told me, she was like, “They're not paying you enough.” And she is someone I would consider an expert in both understanding the nature of the value that I was offering there, and also corporations and salary negotiations and things like that. And I remember when she said that I kind of had this moment of like, “Oh, I could be making more money, I'm adding more value.” But I also didn't do anything with that information. I didn't have a conversation with my manager. I didn't ask for a raise because of the value I was adding. I kind of did talk to him about wanting a promotion. Wanting to move up and like look what I was doing in the organization. But I didn't say like, “Hey, here's the value I'm adding to this company. And I think it's equivalent to this, and my current salary is that.” And, I mean, depending on who you ask, some people say it's useful to do that, others don't. But what I care the most about is not what you actually do with the information that I give you. I care about you having the information so you can make an educated choice. I care about bringing the socialization you've received your attention so you can decide what you want to do with it. Because someone telling me that I wasn't getting paid enough, it both kind of stung because I was like, “Oh, I'm not getting paid enough.” But it was also kind of like, “Oh, I'm creating even more value.” But it also didn't help me understand why I wasn't having more conversations about money. Or why I wasn't negotiating harder, or really at that point at all, to get a salary that was equivalent to what I was offering the organization. Love Your Job Before You Leave It with Kori Linn Ep #38: Money and Compensation So, like I said, you may be pissed off. Also, that's okay. Because as we know, negative feelings won't hurt you. And it's okay to have negative sensations. I think we talked about this last week in the 50:50. Allowing our feelings and letting them be there and knowing that sometimes we even want to choose negative feelings is wonderful. Because what it does is it really takes the resistance out of the negative feeling. And when you take the resistance away, feelings are just a set of sensations that you have when you think a certain way. I know that seems maybe a little reductive, like we're like, “No, they're huge and they move the world.” And they do, but a lot of times they do that when we're not aware of them and we're not allowing them. When we're aware of our feelings we're like, “Yeah, I'm super pissed. I'm learning these facts, I'm super pissed. I also know I'm super pissed because of my own thoughts and the way I'm thinking about this. And I'm cool with that. I want to choose these thoughts.” Then it's like just a feeling you can bring with you throughout your day. You can decide what you want to do with it. And getting this information, even while you may be a little pissed at the same time, is going to give you so much more freedom. Like we said, you can't go back and collect all the money you left on past negotiating tables.

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