Episode #52: Negotiate a Higher Pay Rate with Jen Berson
“I approach my relationships with my clients as partnerships. I want to treat them the way that I would want to be treated. There needs to be some predictability and consistency. And, I think if you’re looking to raise your rates, there’s always a risk that goes with it so there’s a lot of considerations.”
-Jen Berson, on weighing the risks and rewards of re-negotiating your rate with a client
Whether you’re a freelancer, agency owner, or employee, there will come a time in your career when you may need to make the case for another party to pay you more money. Especially in today’s economic climate, the question begs: “How do I know if it’s appropriate to re-negotiate my pay and how do I go about it in a strategic way?” Frankly, this is not your typical, “know your worth” discussion. Rather, our guest today, whose passion is helping professionals earn more by building sustainably run businesses, will share the nuances and considerations that go into negotiating your rate.
In this episode, you’ll learn how to…
Determine if it’s time to re-negotiate your rates
Effectively re-negotiate in a way that benefits both parties
Calculate how much you could be making and (& how to strategically “get there”)
Our guest is:
Jen Berson, President & Founder of Jeneration PR, The Pitch Lab, and Profitable PR Pros Community. Recognized by Inc.’s prestigious Best in Business award, she teaches entrepreneurs how to launch, grow & scale a profitable PR & marketing agency.
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Show Notes:
:00– Britt introduces our guest.
2:17– Britt asks how often someone should increase their rates.
5:06– Britt mentions her experience with a client and negotiating her rates.
6:04– Britt asks if she takes into consideration “crushing it” as a factor in asking for more money.
9:20– Jackie talks about her experience with a long-time client and mentions the importance of legal documentation before working with a client.
11:17– Jen mentions that it’s certainly a weird time with clients, but that it’s still a good time to ask for rate increase. She talks about her time as a lawyer and the importance of legal documents (hint: she offers templates on her website).
17:38– Jen mentions to consider when a client is building their budgets for the fiscal year and talks about the importance of planning well in advance, as well as how to strategically approach a rate increase during the planning process of the next year.
23:00– Britt asks Jen what she means by “stagger your PR rate increases” in her LinkedIn article.
29:52– Jackie asks Jen how someone should go about researching market rates for publicists. This turns into a conversation about picking a niche as a way to grow your rates.
41:00– Jackie mentions how surprised she was by how nuanced and deep this conversation became. Jen goes into detail, summarizing her nuanced and strategic views of the entire conversation of regarding setting rates.
46:22– Shout-out time! Jen shout-outs her Facebook group, Profitable PR Pros (linked below).
Things we talked about
How to Raise Your PR Rates & Finally Get Paid What You're Worth (LinkedIn article by Jen)
Connect with Jen Berson
Connect with Jackie & Britt
