Optometry’s Top 3 Tips for Negotiating in 2018

1Have the courage and confidence to try in the first place!

Often times ignorance on knowing negotiating is an option or fear of losing the offer altogether cause students and young ODs to not try.  Employers expect you to negotiate and yet only 37% of millennials have ever asked for a raise.  My success rate of securing a raise for an optometrist is 96%!  The employer has given you a contract offer so they want you.  Think of the initial offer as what the employer would love for you to accept, not what they are willing to pay.  Beyond the financial benefits, negotiating makes you look more confident if done correctly.  The absolute worst thing that can happen is they say no.  If the employer is so offended that you would negotiate, then you probably don’t want to work for them in the first place.  Hearing “no” is so much better than learning you are working for less than you’re worth.   

2Asking for a raise isn’t worth it.  

Each year, just by not negotiating, new graduates collectively work for $7 million dollars less than they are worth.  A bulk of that figure is in salary, but sometimes negotiating can result in extra paid days.  No contract has ever had too many paid days!  The other thing that isn’t appreciated when negotiating, is that each year it compounds.  Let’s say you negotiated a $10k raise.  That one moment of discomfort becomes a $100k raise after ten years!  Negotiating becomes especially important within corporate optometry where the top players collected nearly $6 billion dollars in US sales in 2016.  If you accept a job in corporate optometry without negotiating you aren’t only working for less than you are worth, but you are effectively lowering the starting salary for every future eye doctor with your willingness to accept the initial offer.  Corporate optometry can’t function without us, and they can obviously afford to pay you more if you are resolute and ask.  

3It’s not all about the money.  

Discussing money with your employer will reveal their true character.  Oftentimes it’s a positive revelation, and it confirms your desire to work for that person or company.  On a rare occasion, you will get a really poor response and you can decide whether or not the job is even worth it.  Having the employer show their true colors before you begin is invaluable information.  It can forecast how compatible you are with the employer based on their response to your requests.  So long as you negotiate intelligently, this is a great indicator for overall workplace happiness with the job offer.

If you want to negotiate an initial offer or re-negotiate your current contract, but don’t know where to start, contact 20/20 Consulting for your free review today.