In this conversation, Liz Rohr and Amanda Guarniere discuss negotiating a raise as a nurse practitioner. They emphasize the importance of collecting data about your job performance and your value to the organization. They also highlight the need to consider the employer's perspective and understand what matters to them. The conversation covers productivity metrics, RVUs (Relative Value Units), and the importance of building a case for a raise. They also discuss the different factors to consider in a compensation package and how to approach the conversation with your employer. In this conversation, Liz Rohr and Amanda Guarniere discuss negotiation strategies for healthcare professionals seeking salary increases. They emphasize the importance of preparation, including researching market rates and determining one's value. They also discuss the dynamics of negotiation and the need to disarm the other person and maintain a positive, collegial tone. They provide tips for requesting a meeting, presenting a case, and handling non-committal answers. They also address the challenges of negotiating within a group or tier system and offer advice for advocating for oneself while maintaining a collaborative approach. They discuss the importance of follow-up and provide strategies for handling requests for additional data or delaying decisions. They also mention the NP Salary Report, a resource for healthcare professionals to anonymously submit and access salary data.
Takeaways
- Collect data about your job performance and the value you bring to the organization when asking for a raise.
- Consider the employer's perspective and understand what matters to them.
- Build a case for a raise by highlighting your productivity metrics, such as patient volume and revenue generated.
- Take into account the different factors in a compensation package, including salary, bonuses, benefits, and work schedule.
- Approach the conversation with a partnership mindset, focusing on achieving mutual goals. Research market rates and determine your value before negotiating a salary increase.
- Disarm the other person and maintain a positive, collegial tone during the negotiation.
- Request a meeting without disclosing the purpose, and present your case in a positive and data-driven manner.
- Be prepared for non-committal answers and follow up to close the loop.
- Advocate for yourself within a group or tier system by discussing the issue individually with the lead NP and going through the proper chain of command.
- Be open to alternative forms of compensation or recognition if a salary increase is not immediately possible.
- Use the NP Salary Report to access salary data and support your negotiation efforts.
For a full transcript and conversation chapters, visit the blog www.realworldnp.com/blog/how-to-negotiate-a-raise/.
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