WEBVTT - EP 295: The BA Q and A: How to Advocate For Yourself 0:00:16.079 --> 0:00:19.040 Hey, Hey, BA fam, it's Mandra. We are back for 0:00:19.160 --> 0:00:23.840 another week of Brown Ambition today, y'all. I avoided it 0:00:23.880 --> 0:00:27.840 for so long. I am on my own today. It 0:00:27.960 --> 0:00:30.760 is weird just talking to myself, but I'm just going 0:00:30.840 --> 0:00:32.760 to pretend that all my BA fam is in the 0:00:32.880 --> 0:00:35.320 room right now. I really want to get to some 0:00:35.360 --> 0:00:38.120 of y'all's questions. So I am back today solo with 0:00:38.159 --> 0:00:41.400 a ba q and a As always, we send our 0:00:41.520 --> 0:00:44.360 love and our light and so many virtual hugs to 0:00:44.400 --> 0:00:48.239 our girl Tiffany as she continues to heal. You know what, 0:00:48.360 --> 0:00:50.879 why don't y'all go and send Tiffany a DM and 0:00:50.920 --> 0:00:53.040 just let her know how incredible she is and how 0:00:53.120 --> 0:00:55.320 much we love her, and let her know that the 0:00:55.400 --> 0:00:59.200 BA fam is thinking about her always, especially if you 0:00:59.240 --> 0:01:00.960 have anyone in your life life who is going through 0:01:01.000 --> 0:01:03.760 a tough time. You know, even though we are moving 0:01:03.800 --> 0:01:06.360 on and it feels like a lot of time has passed, 0:01:06.360 --> 0:01:08.840 you never know what kind of journey they are on 0:01:08.920 --> 0:01:11.759 through their healing. And I think it's sometimes a little 0:01:11.800 --> 0:01:16.959 awkward and uncomfortable to reach out, but I think if anything, 0:01:17.480 --> 0:01:19.840 it can never hurt just to send a little bit 0:01:19.840 --> 0:01:22.200 of support in a positive note. I do that all 0:01:22.240 --> 0:01:25.319 the time, so it would be great if BA fan 0:01:25.360 --> 0:01:29.160 would just centive a little bit of love. But I 0:01:29.200 --> 0:01:32.120 am here. I am here. I am still rocking with y'all. 0:01:32.800 --> 0:01:38.279 What's going on outside of Brown Ambition for Mandy these days, Well, 0:01:38.560 --> 0:01:44.319 my career, coaching and my business have been just I 0:01:44.319 --> 0:01:46.520 don't even know how to describe it, y'all. I started 0:01:46.560 --> 0:01:51.120 this journey last June not really sure of what the 0:01:51.160 --> 0:01:54.560 next year or multiple years after would look like. But 0:01:54.600 --> 0:01:56.400 I just had a lot of faith in myself and 0:01:56.400 --> 0:01:59.120 I'm so glad that I took that risk. Since I 0:01:59.200 --> 0:02:03.080 launched Mandy my last summer, I have coached close to 0:02:03.160 --> 0:02:06.800 two hundred women across the country and across the world. 0:02:06.840 --> 0:02:10.640 I've had clients in Kenya and Germany and the UK 0:02:11.040 --> 0:02:16.880 and Canada, and it's been such a wonderful privilege to 0:02:16.919 --> 0:02:20.400 get to talk to so many incredible people and help 0:02:20.480 --> 0:02:24.160 them as they're navigating their career crossroads, and it's been 0:02:24.200 --> 0:02:26.240 a joy. I'm also now y'all can catch me on 0:02:26.320 --> 0:02:30.000 Yahoo Finance, where I am there bi weekly every other week, 0:02:30.320 --> 0:02:33.520 chatting with the lovely host there in the afternoon Wednesdays 0:02:33.560 --> 0:02:36.320 at one between one and two, and I'm covering all 0:02:36.400 --> 0:02:41.280 things career and wealth building. I've been featured in publications 0:02:41.280 --> 0:02:44.160 that I cannot even wrap my head around, like The Economist, 0:02:44.760 --> 0:02:48.799 The New York Times, CNBC. It has been you know, 0:02:48.919 --> 0:02:52.919 I think my journey especially is just proof of when 0:02:52.960 --> 0:02:56.160 it comes to navigating your career, it really isn't a 0:02:56.200 --> 0:02:59.320 linear path. You just have to make the best choices 0:02:59.360 --> 0:03:02.440 with the information that you have at the time, don't 0:03:02.480 --> 0:03:04.959 be afraid to take risks, and just keep putting one 0:03:04.960 --> 0:03:06.880 foot in front of the other and just trust in 0:03:06.919 --> 0:03:09.480 the journey, trust that you may not end up or 0:03:09.520 --> 0:03:11.320 you may not even know where you're going to end up, 0:03:11.360 --> 0:03:14.560 but that you're going to end up somewhere phenomenal, and 0:03:14.720 --> 0:03:17.679 just having a lot of trust in myself and knowing that, 0:03:18.360 --> 0:03:21.000 you know, there's no such thing as job security. Really, 0:03:21.600 --> 0:03:25.480 I think our job security is ourselves. It is our talent, 0:03:25.600 --> 0:03:29.000 It is our ability to bounce back from whatever challenges 0:03:29.040 --> 0:03:31.840 we encounter. And if there's one thing that I've learned 0:03:31.880 --> 0:03:34.320 over the past I don't know ten to fifteen years 0:03:34.360 --> 0:03:37.119 of my career, is that I'm always going to rise 0:03:37.160 --> 0:03:39.400 to the top. I'm always going to float. You know what, 0:03:39.400 --> 0:03:42.880 I mean land on my feet. And it's that faith 0:03:42.920 --> 0:03:45.440 and trust in myself that has really allowed me to 0:03:45.520 --> 0:03:47.920 step out in this way. And I just thank y'all 0:03:47.960 --> 0:03:51.080 for all of the support and a special shout out 0:03:51.080 --> 0:03:54.120 to the Mandy Moneymakers, which is my special group coaching 0:03:54.160 --> 0:03:57.560 cohort that I just launched in January. Oh my goodness, 0:03:57.600 --> 0:03:59.760 this group of women. I can't even tell you how 0:04:00.040 --> 0:04:02.320 credible it's been to get to know them and to 0:04:02.440 --> 0:04:09.320 create create this small, intimate, beautiful community of women helping women, 0:04:09.920 --> 0:04:12.160 and it's just a beautiful thing. If you guys want 0:04:12.160 --> 0:04:14.400 to find out how you can join the waitlist to 0:04:14.480 --> 0:04:17.360 join the next cohort of Mandy Moneymakers, just head over 0:04:17.400 --> 0:04:19.880 to mandymoney dot com. That's m A N D I 0:04:20.640 --> 0:04:24.960 M O n e y dot com and join the waitlist. Alrighty, 0:04:25.000 --> 0:04:27.760 but now let's get into your questions. Continue to send 0:04:27.800 --> 0:04:30.599 us questions, y'all. Hit us up at Brand Ambition Podcast 0:04:30.680 --> 0:04:34.160 on Instagram. You can also email us Brand Ambition Podcast 0:04:34.279 --> 0:04:37.080 at gmail dot com. That is the best way to 0:04:37.080 --> 0:04:38.760 get in touch with us. If you want to check 0:04:38.760 --> 0:04:41.039 out our brand new, beautiful website, you can also submit 0:04:41.080 --> 0:04:45.760 a question there. That's brandambispodcast dot com already, so let's 0:04:45.760 --> 0:04:48.520 do it. So our first question comes from listener Paula. 0:04:49.000 --> 0:04:53.039 Paula is going through something that Peloton workers right now 0:04:53.080 --> 0:04:55.280 are all experiencing. Did you guys hear the news about 0:04:55.320 --> 0:05:00.880 Peloton laying off twenty eight hundred workers in one fel SWA. Now, 0:05:00.960 --> 0:05:03.240 this is a really good example of the fact that 0:05:03.480 --> 0:05:06.159 no job is secure, even if you are the latest 0:05:06.279 --> 0:05:11.880 unicorn company. You know, Peloton had a phenomenal, phenomenal year 0:05:11.960 --> 0:05:13.920 in the wake of the pandemic. I mean, and I 0:05:13.960 --> 0:05:16.760 was one of those people who purchased a Peloton and 0:05:16.760 --> 0:05:18.680 then also was like, WELLO I need to get them 0:05:18.760 --> 0:05:21.479 the stock. You know, this is a good example of 0:05:21.520 --> 0:05:24.800 why maybe you shouldn't buy individual stocks, or at least 0:05:24.800 --> 0:05:28.040 not by individual stocks expecting an immediate return, because like 0:05:28.080 --> 0:05:31.000 a lot of folks, you know, I purchased some Peloton 0:05:31.120 --> 0:05:34.240 shares and if y'all have been watching, their stock has 0:05:34.320 --> 0:05:40.000 been just, oh my god, getting annihilated lately. So just 0:05:40.040 --> 0:05:42.560 a little you know, personal finance lesson here. When it 0:05:42.560 --> 0:05:45.920 comes to investing in personal stocks, I do it based 0:05:45.960 --> 0:05:48.600 on products that I love and companies that I believe in, 0:05:48.960 --> 0:05:51.360 and I am a long term buy and whole kind 0:05:51.360 --> 0:05:55.120 of gal. So even though in my opinion, Peloton if 0:05:55.120 --> 0:05:57.200 not in my opinion, it's just happening, even though they've 0:05:57.200 --> 0:06:00.320 been struggling lately. I'm not necessarily going to just dump 0:06:00.320 --> 0:06:03.520 stocks of a company that I still believe in. I'm 0:06:03.520 --> 0:06:06.040 in it for the long haul. And it really depends 0:06:06.040 --> 0:06:09.080 on your investing strategy and how much of your how 0:06:09.160 --> 0:06:12.159 much risk you think you can assume. I am definitely 0:06:12.200 --> 0:06:15.240 not using the majority of my you know, my money 0:06:15.279 --> 0:06:19.400 for retirement for individual stock trading. It's just not what 0:06:19.480 --> 0:06:21.400 I do. I use a little bit of money on 0:06:21.480 --> 0:06:24.840 the side, and I mostly invested, yeah, a couple of 0:06:24.839 --> 0:06:29.479 individual stocks, but also my favorite etf SO exchange traded funds. 0:06:29.520 --> 0:06:31.520 I'm kind of going on a tangent right now. I 0:06:31.520 --> 0:06:34.200 will get back to Paul's question, but I just wanted 0:06:34.240 --> 0:06:37.320 to first talk about Peloton and the fact that they 0:06:37.680 --> 0:06:41.040 despite the crazy successful year that it seemed like they 0:06:41.040 --> 0:06:44.080 were having in the wake of the pandemic, Hey, what 0:06:44.240 --> 0:06:47.400 goes up will eventually come down, right, And they had 0:06:47.440 --> 0:06:50.479 this massive reorg. They're laying off twenty eight hundred people. 0:06:50.480 --> 0:06:54.280 Their CEO is out, and those you know workers are 0:06:54.279 --> 0:06:57.960 going to be scrambling to find new employment, just like 0:06:58.160 --> 0:07:01.560 our lovely listener Paula, who said, here's her question. My 0:07:01.760 --> 0:07:05.719 organization just announced a reorg that will directly affect me. 0:07:06.360 --> 0:07:08.320 What advice would you give me to make sure that 0:07:08.360 --> 0:07:12.800 this change will benefit my career and myself financially? Thanks 0:07:12.840 --> 0:07:17.240 in advance, Paula. So, a reorg, this happens a lot 0:07:17.280 --> 0:07:20.360 at companies, whether it's through for example, they get acquired 0:07:20.400 --> 0:07:23.480 by another company and you've got two companies trying to 0:07:23.520 --> 0:07:26.640 marry one another, and they've got to like figure out, Okay, 0:07:26.720 --> 0:07:29.600 we have one hundred customer service reps over here. Okay, 0:07:29.600 --> 0:07:31.600 but we've got two hundred over here. Do we need 0:07:31.680 --> 0:07:35.160 three hundred or should we consolidate? And you know, there's 0:07:35.320 --> 0:07:37.760 the negative part of that, which is that often it 0:07:37.840 --> 0:07:41.160 means that some jobs are going to be phased out. 0:07:41.920 --> 0:07:44.560 But sometimes reorgs can be a lot simpler than that. 0:07:44.560 --> 0:07:47.040 They can simply be Well, maybe it sounds like Paula 0:07:47.120 --> 0:07:51.120 is going through where her company is deciding, Okay, the 0:07:51.200 --> 0:07:53.760 current org structure, like who we have reporting to who, 0:07:53.800 --> 0:07:56.600 and the different departments that we have aren't maybe working 0:07:56.640 --> 0:07:59.160 for us right now? We need to shake things up. 0:07:59.600 --> 0:08:02.080 Doesn't always mean that it's going to result in layoffs, 0:08:02.120 --> 0:08:04.640 but it could result in title changes or like the 0:08:04.680 --> 0:08:07.440 people that you're reporting to will be different, or even 0:08:07.480 --> 0:08:10.600 people that are reporting to you may change, and it 0:08:10.640 --> 0:08:13.800 can be a little stressful, especially if change is not 0:08:13.840 --> 0:08:17.760 something that you're really excited about, but it is like 0:08:17.800 --> 0:08:20.520 if you work somewhere long enough, chances are you will 0:08:20.560 --> 0:08:22.960 go through something like a reorg. So Paula wants to know, 0:08:23.000 --> 0:08:25.200 how do I make sure this actually benefits me career 0:08:25.200 --> 0:08:29.920 wise and financially. So first and foremost, Paula, I think 0:08:30.400 --> 0:08:34.640 having communication and communicating a lot with your managers is 0:08:34.640 --> 0:08:37.200 going to be important here. Often though, when it comes 0:08:37.240 --> 0:08:39.600 to reorgs, it depends on what level you're at at 0:08:39.640 --> 0:08:42.319 your company. But your managers may not even have all 0:08:42.360 --> 0:08:45.400 of the information, So have some patience for them and 0:08:45.480 --> 0:08:48.520 listen really closely to what senior leadership is saying. Submit 0:08:48.600 --> 0:08:51.400 questions if they're doing any town halls, and just be 0:08:51.520 --> 0:08:54.040 the person who ask questions. You know, it be the 0:08:54.080 --> 0:08:58.360 squeaky wheel, ask for specifics, you know, what will this mean? 0:08:58.400 --> 0:09:00.920 Will there be potential for promotion? Will there'd be potential 0:09:01.000 --> 0:09:03.760 for you know, people who are looking maybe you're looking 0:09:03.800 --> 0:09:08.439 to pivot into a different department, and as the reorg 0:09:08.760 --> 0:09:11.800 starts to take shape, as you start to understand what's 0:09:11.840 --> 0:09:14.679 going to happen with your particular department, I would be 0:09:14.720 --> 0:09:18.760 completely transparent with your managers, your higher ups, and tell 0:09:18.800 --> 0:09:21.960 them where you see yourself best fitting into this new organization, 0:09:22.600 --> 0:09:27.160 and be really cognizant of any opportunities that may crop 0:09:27.240 --> 0:09:30.520 up for you. For example, you know, if you're I 0:09:30.559 --> 0:09:33.640 don't know, you're a mid level right now, and you 0:09:33.720 --> 0:09:35.960 see that in this new org they're creating more of 0:09:36.000 --> 0:09:41.040 a senior manager position where you're seeing an opportunity where 0:09:41.040 --> 0:09:43.240 they've got a hole that they need to fill and 0:09:43.280 --> 0:09:45.200 you think you could fit in there. You know, I 0:09:45.240 --> 0:09:47.480 wouldn't wait for your manager to tap you on the 0:09:47.480 --> 0:09:51.280 shoulder and say, oh, Paula, yes, this is a perfect 0:09:51.360 --> 0:09:52.640 role for you. We want to move you up and 0:09:52.679 --> 0:09:55.760 over here. I would definitely advocate for yourself and keep 0:09:55.800 --> 0:09:58.480 your eyes and ears open for those types of opportunities 0:09:59.320 --> 0:10:01.480 and put your name the hat, make sure that they 0:10:01.520 --> 0:10:07.360 know that you're interested, and remember times of volatility at companies. 0:10:07.520 --> 0:10:09.520 This is really if you're someone who wants to stick 0:10:09.520 --> 0:10:12.000 around at that company. This is where you can really 0:10:12.040 --> 0:10:16.240 shine and make your personal brand, your professional brand even stronger, 0:10:16.600 --> 0:10:19.880 because when there are times of like quote unquote crisis 0:10:19.960 --> 0:10:23.560 or volatile times at a company, those employees who step 0:10:23.640 --> 0:10:25.280 up and prove that they are going to roll with 0:10:25.360 --> 0:10:28.040 the punches, that they're going to be reliable, that their 0:10:28.080 --> 0:10:31.040 managers can count on them through those times of volatility, 0:10:31.520 --> 0:10:34.520 those are the people who are going to get promoted. 0:10:34.559 --> 0:10:36.520 Those are the people that you know, the managers are 0:10:36.520 --> 0:10:38.880 going to want to see advance and progress and get 0:10:38.880 --> 0:10:42.120 those year end bonuses. So I would definitely use this 0:10:42.120 --> 0:10:45.520 as an opportunity. It reminds me of what happened for 0:10:45.640 --> 0:10:48.320 me when I was managing a team of thirty staff 0:10:48.480 --> 0:10:51.400 editors and writers at my company with the onset of 0:10:51.400 --> 0:10:53.280 the pandemic, when I had to and I had a 0:10:53.320 --> 0:10:57.240 newborn at home right those colleagues on my team and honestly, 0:10:57.280 --> 0:11:00.240 everybody stepped up. But I've never been more proud. And 0:11:01.480 --> 0:11:03.680 there were so many, you know, people on my team 0:11:03.840 --> 0:11:05.880 through the year who were able to step up and 0:11:06.280 --> 0:11:09.840 you know, get promotions because they really went to work 0:11:09.960 --> 0:11:12.880 during that time and they made it possible for me 0:11:13.040 --> 0:11:17.079 to run that team and transition everyone virtually. So I 0:11:17.200 --> 0:11:20.320 like that you're seeing this as an opportunity to be strategic. 0:11:20.679 --> 0:11:22.960 I think ultimately the best things you can do are 0:11:23.040 --> 0:11:26.319 advocate for yourself, look for opportunities and say you want them. 0:11:26.559 --> 0:11:31.360 But then also just be completely bad ass and become 0:11:31.440 --> 0:11:34.080 the person that your managers can go to during times 0:11:34.120 --> 0:11:36.640 like this when things are a little dicey, and rely 0:11:36.760 --> 0:11:38.600 on them and step up and show that you are 0:11:38.640 --> 0:11:41.000 a team player and all of that, because that, like 0:11:41.040 --> 0:11:43.080 I said, is going to make them go the extra 0:11:43.120 --> 0:11:45.240 mile for you down the line. Thank you so much 0:11:45.280 --> 0:11:47.760 for your question, Paula, and good look. All right, I'm 0:11:47.760 --> 0:11:49.839 going to take a quick breaking break, get some water 0:11:50.600 --> 0:11:52.400 because it is kind of you know, it's hard work 0:11:52.440 --> 0:11:55.160 talking about myself talking to myself all the time. Now, 0:11:55.559 --> 0:12:01.400 and we will be right back with more of your questions. 0:12:02.080 --> 0:12:04.720 All right, ba faan, we are back. Our next question 0:12:04.800 --> 0:12:08.360 comes from an anonymous IG fan. Again, we're at Brandna 0:12:08.400 --> 0:12:10.720 Mission podcast on IG, so follow us. You can dem 0:12:10.760 --> 0:12:15.680 us your questions there. Okay, So this person says, Hey, Mandy, 0:12:15.720 --> 0:12:19.000 I just saw your TikTok about that Mercedes recruiter. I 0:12:19.040 --> 0:12:21.240 have a question and I hope it's not too forward 0:12:21.320 --> 0:12:24.240 or bold of me to ask I want to renegotiate 0:12:24.280 --> 0:12:26.800 my pay. I feel like I'm underpaid as the only 0:12:26.840 --> 0:12:30.600 billing specialist doing work for two emergency rooms. Any advice 0:12:30.640 --> 0:12:33.520 on how I can go about that? Okay? So if 0:12:33.559 --> 0:12:36.000 you guys haven't seen this yet, you've got to check out. 0:12:36.000 --> 0:12:38.079 You can go to my ig. I'm at Mandy Money 0:12:38.360 --> 0:12:40.839 on Insta and I'm at Mandy Money with three a's 0:12:40.960 --> 0:12:44.880 on TikTok. And basically what happened was there was this recruiter. 0:12:45.040 --> 0:12:47.679 Her name is Mercedes S. Johnson. I'll never forget her 0:12:47.760 --> 0:12:52.120 name now. So she posted on LinkedIn a screenshot or 0:12:52.160 --> 0:12:56.199 she posted on LinkedIn, and she was bragging about having 0:12:56.200 --> 0:12:58.800 a job candidate except an offer for eighty five K. 0:12:59.240 --> 0:13:01.160 And she decided to take time out of her day 0:13:01.400 --> 0:13:04.320 to go on LinkedIn and make fun of this person 0:13:04.480 --> 0:13:07.280 and say, you know, the budget was actually one hundred 0:13:07.280 --> 0:13:09.880 and thirty five K. And I don't have time to 0:13:09.880 --> 0:13:11.840 help people learn how to negotiate. I just want you 0:13:11.880 --> 0:13:14.440 guys to know it's really important to know your value. 0:13:15.080 --> 0:13:17.040 And I think I, like a lot of people, had 0:13:17.040 --> 0:13:20.480 a visceral reaction to that post from Mercedes, because one 0:13:20.520 --> 0:13:24.560 it was just dumb. Two it was not helpful at all. 0:13:24.679 --> 0:13:26.880 I think she thought she was really doing something profound 0:13:26.920 --> 0:13:29.000 with that post, trying to inspire people to know their 0:13:29.080 --> 0:13:32.800 value and to negotiate. But I just don't see how 0:13:32.840 --> 0:13:34.960 she can say she didn't have time to give advice 0:13:35.000 --> 0:13:37.040 to that job candidate, but yet she did have time 0:13:37.120 --> 0:13:39.880 to go on the internet and post about it. You know, 0:13:39.920 --> 0:13:42.600 I just thought it was really especially for someone in 0:13:42.640 --> 0:13:45.079 her position as a recruiter. You know, she's in a 0:13:45.120 --> 0:13:48.520 place of power. And also you know she in her 0:13:48.520 --> 0:13:52.000 public persona talks about herself being someone who helps people 0:13:52.120 --> 0:13:55.920 negotiate and you know, fulfill their career ambitions. And I 0:13:56.000 --> 0:13:58.600 just think it was Oh no, no, it was. It 0:13:58.640 --> 0:14:01.680 was a bad look for miss Mercedes. But to this 0:14:02.000 --> 0:14:06.920 questions point, it was a good reminder, and we'll just 0:14:06.920 --> 0:14:08.840 try to find a silver lining here. It was a 0:14:08.840 --> 0:14:11.760 good reminder of why it is so important for us 0:14:11.840 --> 0:14:16.160 as job candidates. Advocating for ourselves in the workplace is 0:14:16.160 --> 0:14:19.120 so important because even the people who think maybe there 0:14:19.160 --> 0:14:22.800 to help you get what you deserve, ultimately we are 0:14:22.840 --> 0:14:24.840 always going to have our best interest and we should 0:14:24.920 --> 0:14:27.120 have our best interest at heart all of the time, 0:14:27.200 --> 0:14:29.000 and we have to learn to step up for ourselves 0:14:29.560 --> 0:14:32.480 and to do our own research to find out when 0:14:32.480 --> 0:14:34.160 we are not being valued the way that we should 0:14:34.160 --> 0:14:37.440 be valued. So in your situation, Anonymous, where you say 0:14:37.800 --> 0:14:40.000 you actually want to renegotiate your pay, you feel like 0:14:40.000 --> 0:14:43.080 you're being underpaid. It sounds like you're working in the 0:14:43.080 --> 0:14:46.600 medical field, and honestly, listen, I've got family who work 0:14:46.640 --> 0:14:50.600 in hospitals and it is grueling work and there is 0:14:50.640 --> 0:14:53.680 so much turnover as a result of the pandemic that 0:14:53.720 --> 0:14:56.200 there are people like you who are being left doing 0:14:56.240 --> 0:14:59.720 more work than ever but not actually getting paid anything 0:14:59.760 --> 0:15:04.880 to so renegotiating pay. Listen, I am the person who 0:15:04.920 --> 0:15:07.760 will who will always push people to just ask the questions, 0:15:07.800 --> 0:15:11.640 no matter how you know bold they may seem, ask 0:15:11.680 --> 0:15:13.760 the question, you know, go to your manager and just say, 0:15:13.760 --> 0:15:15.840 point blank, you know, I've I have been taking on 0:15:15.920 --> 0:15:19.720 all this additional work. Is there any opportunity to discuss 0:15:19.760 --> 0:15:23.200 my compensation and to get an increase. You can absolutely 0:15:23.240 --> 0:15:25.080 do that. You don't have to wait for your annual 0:15:25.120 --> 0:15:27.480 review cycle. Just go ahead and do it. I can't 0:15:27.520 --> 0:15:30.640 promise you they're going to do something about it. I'm 0:15:30.680 --> 0:15:32.200 not even gonna I don't even know what the odds 0:15:32.200 --> 0:15:34.200 are that they may do something about it. Your best 0:15:34.240 --> 0:15:36.800 bet is to get a competing offer from another job 0:15:36.880 --> 0:15:39.200 that's actually going to pay you more, and then you 0:15:39.240 --> 0:15:41.360 can actually bring that to your current employer and say, 0:15:41.400 --> 0:15:44.680 you know, I've got an offer from XYZ and they're 0:15:44.720 --> 0:15:47.680 offering me double what you're paying me, or fifty percent more, 0:15:47.760 --> 0:15:50.720 whatever it is. You have to be ready, you should 0:15:50.720 --> 0:15:54.960 be ready prepared to take that new offer and walk. 0:15:55.360 --> 0:15:58.360 But that can be some that can be really good leverage, 0:15:58.480 --> 0:16:01.320 especially if you're you know, you want to stay, but 0:16:01.360 --> 0:16:04.400 you just want to be paid what you're worth. Sometimes companies, 0:16:04.480 --> 0:16:07.880 you know, if you don't give them a reason, like 0:16:07.920 --> 0:16:10.840 a really good reason to give you a pay raise, 0:16:10.920 --> 0:16:13.280 they can like drag their feet. They just don't have 0:16:13.400 --> 0:16:16.560 that incentive, you know, So the risk of you walking down, 0:16:16.680 --> 0:16:18.640 like walking away from the job and leaving them in 0:16:18.680 --> 0:16:21.400 the lurch. Sometimes you just got to like play hardball 0:16:21.560 --> 0:16:23.360 in that way. You got to say, like, yo, I'm 0:16:23.400 --> 0:16:25.440 ready to walk, I've got this juicy offer, what are 0:16:25.440 --> 0:16:27.160 you going to do about it? And then you can 0:16:27.160 --> 0:16:29.440 see how fast they move to get you that raise. Okay, 0:16:30.200 --> 0:16:32.920 so that's my advice to you. You can ask the question, 0:16:33.280 --> 0:16:35.240 and I would go ahead and ask that now, just 0:16:35.280 --> 0:16:38.680 to establish the fact that they know, Okay, she's asked 0:16:38.720 --> 0:16:42.160 for this, she's feeling overworked, and then they can actually 0:16:42.360 --> 0:16:44.880 then you give them some time to figure out what 0:16:44.920 --> 0:16:47.240 they're going to do, and then on your own going 0:16:47.280 --> 0:16:51.040 out and you know, leveraging your network, telling everyone that 0:16:51.080 --> 0:16:53.160 you're looking for a new opportunity, seeing what else is 0:16:53.160 --> 0:16:55.760 out there, getting some interviews, you know, and find and 0:16:56.560 --> 0:16:59.040 potentially even getting a different offer. Then you can bring 0:16:59.080 --> 0:17:02.600 that additional lever to them and use that for your 0:17:02.640 --> 0:17:07.879 negotiation process. All right, thank you very much for that question. Okay, 0:17:07.880 --> 0:17:10.960 two juicy career ones. Let's go to a more personal 0:17:11.040 --> 0:17:14.240 finance question. This is third and last question we're gonna take. 0:17:14.760 --> 0:17:18.160 This comes from also from IG. We're gonna call her Cheryl. 0:17:18.520 --> 0:17:21.119 Cheryl says, I'm single, no kids. I make one hundred 0:17:21.119 --> 0:17:23.879 and thirty five thousand dollars a year. I've got about 0:17:23.920 --> 0:17:26.000 sixty K and my four oh one K and about 0:17:26.040 --> 0:17:29.360 ten K saved up for emergencies. But I have sixteen 0:17:29.400 --> 0:17:32.360 thousand dollars left to pay on my car loan I'm 0:17:32.359 --> 0:17:34.840 thinking about taking out that amount as a four to 0:17:34.880 --> 0:17:37.199 one K loan to pay off the car. Do you 0:17:37.240 --> 0:17:40.359 think that's a good idea. I'm also looking to purchase 0:17:40.400 --> 0:17:43.480 a townhouse in the future. The bank has preapproved me 0:17:43.640 --> 0:17:46.760 for four hundred and ninety five K as of now. 0:17:46.920 --> 0:17:49.440 Would that four oh one K loan hurt my approval 0:17:49.480 --> 0:17:53.240 status in the future? Oh, okay, couple things. So you've 0:17:53.240 --> 0:17:55.120 got sixty K and your four to one K, you've 0:17:55.119 --> 0:17:58.359 got ten K saved for emergencies. That's amazing, sixteen K 0:17:58.440 --> 0:18:02.080 left on your car loan. So car loan. I don't 0:18:02.080 --> 0:18:04.520 have a crucial piece of information right here, which is 0:18:04.560 --> 0:18:07.560 your interest rate on your car loan. But let's say 0:18:07.600 --> 0:18:11.360 you've got you know, good, really good credit, and your 0:18:11.359 --> 0:18:13.840 car loan rate is like what what's typical now, like 0:18:13.880 --> 0:18:17.920 three to four percent? You're thinking about taking out sixteen 0:18:17.960 --> 0:18:20.159 K from your four one K, sixteen K out of 0:18:20.200 --> 0:18:22.760 a sixty K four one K. You know, that's a 0:18:22.800 --> 0:18:25.919 pretty hefty chunk of change. It's a four to one 0:18:26.000 --> 0:18:28.159 K loan, as you're saying, And so with four one 0:18:28.240 --> 0:18:30.960 K loans, and just to be candid, I have taken 0:18:31.000 --> 0:18:33.040 a loan out of my four to one K I 0:18:33.080 --> 0:18:34.879 took out I think it was ten K out of 0:18:34.880 --> 0:18:37.800 my four to one K three or four years ago 0:18:37.840 --> 0:18:39.560 when we were doing something to the house and just 0:18:39.600 --> 0:18:42.600 wanted a way to borrow money that wasn't going to 0:18:43.280 --> 0:18:45.639 cost interest. The beauty of the four to one k 0:18:45.760 --> 0:18:47.719 loan is you are borrowing from yourself and you're going 0:18:47.760 --> 0:18:50.919 to pay yourself back. And if they charge quote unquote 0:18:50.920 --> 0:18:52.720 interest on that four one K loan, you're going to 0:18:52.760 --> 0:18:56.360 pay yourself that interest right And then because it's through 0:18:56.359 --> 0:18:59.840 your employer for one K, they will basically set up 0:19:00.040 --> 0:19:02.520 pay check deductions as you for you to pay that back, 0:19:02.880 --> 0:19:04.600 so you don't have to remember to pay a bill 0:19:04.680 --> 0:19:07.480 on time or anything like that. The risk with the 0:19:07.520 --> 0:19:10.120 four one k loan is that, let's say you were 0:19:10.160 --> 0:19:13.439 to want to leave the company, or heaven forbid, you 0:19:13.480 --> 0:19:17.120 were laid off or fired, you may owe the full 0:19:17.200 --> 0:19:20.720 balance of that loan back really quickly, like in less 0:19:20.720 --> 0:19:23.240 than a couple of months. So you have to weigh 0:19:23.720 --> 0:19:27.199 that risk. The fact that you only have ten K 0:19:27.720 --> 0:19:30.040 saved well, I don't mean to diminish the fact that 0:19:30.080 --> 0:19:33.200 you've got ten k saved up. That's fantastic. I mean, 0:19:33.240 --> 0:19:35.680 that's about ten percent of your annual income, so it's 0:19:35.680 --> 0:19:38.800 not shabby at all, but it's ten K and you'd 0:19:38.800 --> 0:19:40.800 be taking out a sixteen K loan from your four 0:19:40.880 --> 0:19:44.000 one k. So you know, let's say something happens and 0:19:44.040 --> 0:19:46.680 you are let go or you leave the company. You know, 0:19:46.760 --> 0:19:49.960 how would you be able to repay one lump sum 0:19:50.160 --> 0:19:53.119 for a loan out of your four one k That 0:19:53.160 --> 0:19:55.439 could potentially be about sixteen K, So you have to 0:19:55.440 --> 0:19:59.320 think about that. Typically, like, let's say your car loan is, 0:19:59.440 --> 0:20:01.520 like I said, you've got a really good interest rate. 0:20:02.119 --> 0:20:04.600 I'm not mad at you just continuing to pay that 0:20:05.480 --> 0:20:08.320 that car note off. It may feel really good to 0:20:08.320 --> 0:20:10.560 be entirely debt free, and like, I love to be 0:20:10.640 --> 0:20:12.879 debt free too. I paid my car loan off early. 0:20:13.520 --> 0:20:15.840 But what are your other goals right now? You say 0:20:15.880 --> 0:20:18.800 you're saving up for a townhouse, so I would actually 0:20:18.880 --> 0:20:22.080 prefer if you were to continue beefing up your emergency fund. 0:20:22.400 --> 0:20:25.280 Ten K is pretty good for emergencies, but as a homeowner, 0:20:25.520 --> 0:20:28.760 you know, you may actually have some household emergencies that 0:20:28.840 --> 0:20:31.199 cost even more than that, or you may want to 0:20:31.240 --> 0:20:34.280 do some work to the house, like moving expenses, are 0:20:34.800 --> 0:20:36.879 like crazy when it comes to moving into a house. 0:20:37.320 --> 0:20:41.439 I mean, those first year of home ownership expenses can 0:20:41.480 --> 0:20:44.560 really add up. So I would say, instead of taking 0:20:44.560 --> 0:20:46.120 money out of your four one K loan to pay 0:20:46.160 --> 0:20:48.080 off your car note, especially like I don't know your 0:20:48.080 --> 0:20:50.320