Today’s post is from our regular Wednesday contributor, Erin.
How many of you can say that you are 100% confident in your abilities when it comes to your career?
Can you walk into an interview and not break a sweat?
Do you look forward to negotiating your salary because you know what kind of value you bring to the table?
Are you the first one to volunteer to take on a new project or head a new department?
When it comes to any of the above, most of us get nervous or anxious, and we start thinking about the worst case scenario.
But what if you were confident in your abilities? Don’t you think that would help your career, and thus, your earning potential? Think about it. If you’re afraid to negotiate, you might accept a low offer. Asking for a raise might be more difficult. Taking initiative? Only after three other people have passed over the opportunity.
I think it’s important to highlight how confidence can increase earning potential, especially since some people have difficulty with the “earn more” side of the equation.
1) Confidence can help you ace the interview
Interviews are a part of life – there’s really no way around that. Walking in with a confident stance, and sitting in a dominant position, does wonders for making a first impression on your interviewer. As Amy Cuddy says, fake it until you make it.
Doing research ahead of time will help you feel more comfortable. Find a process or tool the company uses that you might disagree with, and ask them about it during the interview. There’s no need to get presumptuous, but it will show that you’re interested, and you can offer your expertise if they ask for your opinion.
During the interview, you should ask questions to see if the company is a good fit for you. Your qualifications aren’t the only ones that matter! What if the company culture (working 70 hours a week) doesn’t jive with you? What if the benefits aren’t sufficient? You have a say in the matter, too. This isn’t a one-way street.
Having a successful interview increases the chances of you getting a job, and it puts you in a better position for negotiating salary.
Being confident in your finances can help, too. If you have an emergency fund, you’ll feel less inclined to take the first position you interview for. The worst thing you can do is feel (and sound) desperate.
2) Confidence means getting the salary you deserve
Being confident in the interview will set you up for success when it comes time to negotiate. The best thing to remember is that the worst that can happen is they say no. That’s not the end of the world. If they can’t give you the salary you want or deserve, you should be willing to move on (unless the company is amazing).
Remember that your salary isn’t the only thing you can negotiate! If they aren’t willing to budge on numbers, ask for extra perks. Who doesn’t want more vacation time, stock options, or the possibility of a bonus depending on your performance?
Another thing that might help is asking for a review after a certain amount of time has passed to discuss the possibility of a raise. This way, you have time to prove your worth, and you can feel comfortable knowing you have the power to increase your salary.
3) Asking for a raise is easier when you’re confident
If you know you’ll get a yearly review, plan ahead! Having proof that you’re an amazing employee will make you feel better about asking for a raise. Save emails that contain praise, keep a list of accomplishments, and track any skills or knowledge you gained during the year.
When it comes time for your review, your evidence will speak for itself.
If you don’t get a yearly review, I heard an amazing piece of advice from Ramit Sethi a few weeks ago on how to go about asking for a raise. He says to approach your manager and ask them what it would take for you to get a raise, make a list of their suggestions, and then proceed to knock said list out of the park.
When you’ve completed all the tasks on the list, go back to your manager, and tell them you’ve done everything they suggested (with proof). Then, ask to have the discussion about a raise. This technique is neat as you won’t feel like you’re blindsiding your boss; instead, you’re setting yourself up for the discussion.
Sadly, simply being an awesome employee is not going to cut it most of the time. Not all bosses are going to be looking out for your best interests, so it’s up to you to do that. Make what you want crystal clear – don’t leave it up to managers to be mind readers.
4) Confidence leads to taking initiative
Being excited to take initiative on new projects or new teams can lead to promotions down the road. It shows that you’re passionate about leading, and are open to taking on more responsibility.
I started out as an executive assistant in one job, and within three months, I was promoted. I strongly believe it was due to showing interest in being trained on another role within the company, and that led to a promotion within that department.
If you’re a freelancer, ask your clients if there’s anything additional they need help with. Don’t be afraid to branch out! That’s where the best learning opportunities are.
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These are just 4 ways confidence increases earning potential, and we would all like to make more while feeling valued, right? Going into an interview feeling confident starts the process off right. Employers will sense that they can take advantage of you if you appear overly nervous. Remember that you hold the power when it comes to your career.
How do you think confidence increases earning potential? When is the last time you asked for a raise, took initiative, or aced a job interview? What tips do you have to increase confidence?
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Photo by Sebastiaan ter Burg
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I agree that confidence is extremely important! Many sales books talk about how confidence and enthusiasm are two of the most important traits you can have in the business world. I actually need to work on the confidence one though. lol
There are really great points Erin. I’m always trying to improve my confidence. As a tax accountant, I know that nobody wants to take tax advice from someone who doesn’t seem confident!
Oh, I agree 100%. Looking like you know what you’re talking about is half the battle =)
Congrats on your first Wednesday regular post! And it’s a good one at that! I think confidence goes a long way when it comes to career success and earning potential. Particularly for women, who are notoriously more shy when it comes to asking for raises in the workplace, I think these are great tips. Lean In by Sheryl Sandberg is a great book that elaborates on this as well.
I definitely believe in the “fake it until you make it” mentality. When I was in sales, I always exuded confidence with my clients even if I was having a crappy year, people seem to want to work with people who are succeeding. Sure enough, after a period of time, it always became a reality. People are drawn to confidence and optimism. Even if you can pretend you have it, you will get the results you want.
I worked up my way from pretending to feel confident in order to truly be confident in my life. It’s a skill that needs to be practiced I believe. When people perceive you as being confident and self-assured, you are awarded more respect.
MoneyMiniBlog It’s true! I’ve worked with a number of salesmen before, and their confidence has always blown me away. It definitely increases the chances of you getting a sale if you’re confident in what you’re selling, too.
BudgetforMore So true for anyone providing that kind of service! If you’re a coach or a teacher, you have to know what you’re talking about in order to build trust and authority.
Holly at ClubThrifty Isn’t that the truth!
theFinancegirl Thanks Natalie! I loved Lean In, and you’re very right that Sheryl does a great job of explaining why confidence can go a long way in making headway in your career. It’s so important to put yourself out there, but many of us fail at it.
blonde_finance “People seem to want to work with people who are succeeding.” Great point, Shannon! Clients don’t want to hear about how you’re struggling; they care about results, and a confident and optimistic person is more likely to get them.
Kassandra @ More Than Just Money That is what I am working on as well, and I think it’s been working! Very true that confidence commands respect.
We say “fake it till you make it” a LOT around here. It’s all about confidence, knowing your worth, and projecting that. As long as you know you do good work and put in the time then there’s no reason why you can’t do amazing things!
Confidence absolutely increases your earning potential. People want to work with someone who exudes confidence, not matter what the field is. Employers want to hire people who appear confident in their abilities because it minimally suggests that the training time will be short and more importantly – that they can do the job well. People tend to gravitate towards confident people which puts you in a position of influence and power. I keep a folder with all my kudos so that when I need a confidence boost, I can reread some old emails and remind myself that I can do this.
BudgetandBees Knowing your worth is so important! Too many people have a tendency to undervalue themselves, and that alone means confidence is lacking.
ShannonRyan All great points here! I really like the idea of keeping a “praise” folder. We all have days when we’re a little down, and kind words from others help boost confidence.
I know that confidence is the key. I aced an interview 2 weeks ago. I received the call that I was waiting for this past Monday.
Jason @ The Butler Journal That is awesome, Jason! Being able to walk away from an interview feeling like things went well is great.
Great article here Erin and good to have you on board the YAM team!
For me I find that sometimes confidence can come and go, which means that I probably have a bit more work to become more self-assured.. A thing that I make sure I do though is prepare as best as possible and not be afraid to ask or have the awkward conversations as well :)
mycareercrusade Thanks! I would say that’s a good strategy. Being afraid to ask can be one of the biggest things that keep people back, and I know I have to improve upon that as well!
Good tips! I’m hiring for a position right now and I must say that demonstrating confidence in an interview is vital. An interview is your time to shine and show off (without being too pretentious). As the interviewer, I was most impressed by the candidates who were able to assert their skills and articulately convey how they would add value to the organization.
I love your writing style, Erin. It’s really substantive and yet easy to follow. I think the desperation thing gets in a lot of people’s way. Sometimes people just reek of it. Even if you are feeling desperate, it’s really a good idea to learn to hide it. I used to have a friend who would wear her desperation on her sleeve and wonder why she got bad jobs and even worse boyfriends. Really super tips, Erin! :)
Mrs. Frugalwoods Thanks for sharing your insights, Mrs. FW! I always love getting an insider’s take on things. Being articulate is so important! When people go, “ummm, well, you know…” it kind of kills things.
kay frugalvoices Thank you so much, Kay! It is hard to appear confident when so much is riding on a job, but once I got into the mindset that I needed to make sure it was a good fit for ME, I felt better. It gave me a little bit of power over the situation.
pftwins That’s definitely something I learned at FinCon. You need to be sure of yourself in striking up a conversation. I remember Pat Flynn’s advice on networking: he wouldn’t give himself ANY time to consider alternatives like, “Oh, she’s too busy, I’ll come back later.” He just went for it the second he thought to do it.
Confidence is definitely very important and helpful in increasing your earning potential. While working hard is important…I tend to see those with the confident attitudes who get noticed and promoted. Also, I’ve noticed that when I answer a question without assertiveness, people assume I don’t really know the answer. I would really like to improve my confidence, but one tip I can think of is to be prepared. For example, at an interview, if you’ve practiced what questions might be asked and know about the company and can explain what value you can bring to it from your experience, you’ll feel prepared and therefore confident.
I think by practicing and taking small risks you can increase confidence. I have been (mostly) more confident since FinCon and I’m really trying to harness that energy and move to action. The worst thing people can say is no. I think it’s key to remember when you are down, or have a low moment that it’s temporary, and you shouldn’t let it shake your confidence permanently.
Andrew LivingRichCheaply I always try to be prepared! I think it’s one of the best ways to calm nerves. If you “sit in the back” at work, so to speak, you’re right in that you’ll probably get passed over when it comes to promotions, especially at a bigger company. Being assertive in meetings is a great way to get noticed!
deardebt Baby steps are great! I tend to get myself worked up over rejection, but “no” is not going to kill me. There are so many other opportunities to take advantage of in the world, the best thing to do is learn from it and move on!
Your welcome Erin, then again it’s also about having the insight to know what to ask and what to let go of.. Sure you’ll be awesome here too as a guest poster
This article is great timing for two reasons! I just finished my first year at my company and should hopefully be having my annual review soon and should be getting a raise. I just wrote out my achievements, strengths, weaknesses, and goals for next year today. I always like to type of a one-pager to bring with me during my review to help both me and my supervisor during my review. Secondly, the CEO of Microsoft just told women today that they should not ask for a raise, but instead wait for good karma to give them a raise. WTF! Urgh.
I think my career is one area of my life I’m not as confident as I could be…and OMG I hate negotiating! Absolutely hate it, but I agree if I worked on those skills I’d be much better off.
BigSkyTri I’m glad it came at the right time! It seems like you’re prepared to me. I’m disappointed to hear that from the CEO of Microsoft, though…why should only women have to wait for good karma? Regardless, I did that at one job, and ended up leaving because (surprise) the raise never came. Don’t be afraid to bring it up in your review!
Beachbudget Oh I know! I don’t like being pushy, so negotiation is difficult, but I’ve heard too many stories now about people starting their careers off poorly because they accepted a lower salary. I try to keep in mind that in most cases, if you’re reasonable, people are willing to consider it. Hiring managers pretty much expect it.
I too truly believe that confidence is the key to everything. If you don’t believe in yourself, why should someone else? Why should anyone take a chance on you, if you have given up on yourself? As Amy Cuddy says” You fake it until you make it”.