Original article from The New York Times
Why is it important to be well-prepared for negotiating a salary offer? Here’s why.
“Researchers say people with poor understanding of basic finances often make bad decisions on money matters.
Americans’ already poor money savvy fell even further this year, a worrisome trend, researchers said, because people with weak understanding of basic finances often make poor financial decisions.
On average, adults correctly answer about half of the 28 questions in the Personal Finance Index, a survey of financial knowledge. The average has never topped 52 percent. This year, it was just 47 percent, the lowest level in the 10-year history of the survey.
“Certainly, it’s disturbing,” said Surya Kolluri, head of the TIAA Institute, which administers the survey with researchers at the Stanford University Global Financial Literacy Excellence Center. (The institute is the research arm of the investment firm TIAA, which runs retirement plans for many educators.)
The findings, however, aren’t necessarily surprising, Mr. Kolluri said. Americans have been under financial stress of one sort or another since the Covid-19 pandemic, he said, including inflation that has driven up the cost of groceries and gas. At the same time, he said, the spread of self-described financial influencers on social media has made it more difficult for people to discern what advice is truly useful….”
To learn more about salary negotiation, check out Duke Career Center’s Negotiating Guide.
You got this.
