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Episode 48: Say Less, Get More: Empowering Women Through Negotiation

In the latest episode of the Pink Tax Podcast, host Janine Rogan sits down with negotiation expert and author Fotini Iconomopoulos to dismantle the myths surrounding negotiation and provide actionable strategies for women to close the wealth gap.


Negotiation is Everywhere

Negotiation isn't just for job offers or boardroom deals. Fotini explains that any time you are in conflict or someone isn't 100% on board with your ideas, you are negotiating [01:50]. This includes:

  • Leadership: Getting peers or managers to follow your vision [02:00].

  • Everyday Life: Maintaining physical boundaries on public transit or managing household dynamics [02:19].

  • Healthcare: Navigating universal systems to get brand-name drugs or faster care by asking strategic questions [03:30].


The Three Critical Questions for Success

To avoid being perceived as "pushy" while still getting results, Fotini suggests balancing these three questions:

  1. What’s in it for them? Be empathetic, but don't become a "victim of your own empathy" [06:51].

  2. What can they afford to do for me? Look beyond money to time, flexibility, and resources [07:09].

  3. How am I making them feel? If you make someone feel like a "rockstar" or give them autonomy, they are more likely to help you [08:09].


The "Compound Interest" of Negotiation

The financial cost of staying silent is staggering. Fotini cites a study showing that negotiating your first salary can result in retiring eight years earlier due to compound interest [11:20]. By negotiating her own mortgages, rent, and business contracts, Fotini estimates she has saved herself 20 years of work [12:00].


Handling Rejection and Pay Inequality

If you find out you're being paid less than a male colleague, Fotini advises against an immediate emotional reaction [14:01]. Instead, use her Three Ps framework:

  • Power: Gather knowledge about pay structures and decision-making [14:11].

  • People: Identify and leverage the real decision-makers and influencers [16:14].

  • Process: Map out who to ask, when to ask, and in what order [16:46].

When faced with a "no," turn it into a "power-charging opportunity" by asking: "Under what circumstances would that change?" or "What milestones do we need to hit to make this happen?" [21:40].


The Power of Silence and Curiosity

The title of her book, Say Less, Get More, emphasizes that silence can be a forced negotiation tactic. Janine shared an example of getting $10,000 off a house price simply because she was on a flight with no Wi-Fi and couldn't respond, forcing the seller to negotiate against themselves [19:40].


Fotini's Top Tip: If you're nervous, just ask questions. Curiosity is seen as non-aggressive and allows you to collect information while your brain calms down [28:36].



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