Saturday Morning Rounds April 06, 2019 - #EqualPayDay, having patience during negotiations, and a product announcement!

Posted by BossB, MD on April 6, 2019
BossB, MD
Saturday Morning Rounds
Saturday Morning Rounds
A weekly round-up of everything that captured our attention over the last 7 days

What we're reading

This past week the world marked #EqualPayDay on April 2nd, representing the extra 3 months that an average woman needs to work into each new year just to earn what an average man earned by the end of the previous year. Womansplaining the Gender Pay Gap by Naya Salam was one of the better articles we saw on the topic. The author does a great job of using data to debunk the most common arguments about the gender pay gap being a myth, with well-cited sources throughout. Here's a list of the myths she tackles:

  • The pay gap doesn’t account for women’s job choice
  • The gap persists because women take time off to have children
  • Women get paid less because they have less education
  • Women don’t get paid well because they don’t negotiate well

Each of her arguments is clear, data-backed, to-the-point, and feels ready-made for social media sharing to increase awareness. We were especially struck by the finding of Harvard economist Claudia Golden that

"female surgeons earn 71 percent of what male surgeons earn in the same specialties."

Marking the amount of time that would need to be worked to close the pay gap really drives home a clear reminder of how far we have to go and how truly disparate things are today. We feel honored to be able to work on solving this problem every day and are more fired up than ever to do so after seeing such a tangible reminder (3 months) of this everyday injustice.

Who we're following

Dr. Carol Pak-Teng, MD (@CPakTeng) is an EM physician with a quick wit, an incisive and interesting view on all things #WomenInMedicine, and a fresh seat on the board of AAEM! We had the pleasure of meeting her in person at the FemInEM Revive conference this past year, and can't think of a better person to be increasing board and leadership representation for women physicians. Would definitely recommend a follow.

BBMD tip of the week

Patience is one of the most difficult and important traits to call upon during a negotiation. Just a couple of nights ago we had a conversation with one of our neighbors who is looking to buy a house. The market in our neighborhood is incredibly competitive and houses often get put under contract before they're even publicly listed, so when she found out that somebody on our block would be selling a house that perfectly matches what she's looking for, she was understandably ecstatic. After walking around for a few minutes she cut to the chase by asking "would you be willing to sell to us? We'll pay full value of course!" Now, while we love the clarity of vision - determining what you want and then directly pursuing it - that she demonstrated, it's likely that quite a bit was left on the table. After he agreed to her request, they continued to walk around. She discovered that the current owner:

  • Really values the neighborhood and wants to make sure that the house goes into the hands of somebody who's going to be a good neighbor to everyone there
  • Has put an immense amount of time, thought, and money into a garden that will bloom from early spring till late fall and would hate to see someone neglect, or worse, remove it
  • Is not economically-driven in the decision to sell this house but is more making a lifestyle choice

If, at the beginning of the conversation, our friend would have expressed interest and curiosity without "showing her cards" (in this case eagerly committing to buy the house at full price), she would have been able to establish a much more powerful negotiation position without adding any risk. The key to pulling such an effort off, whether discussing a home purchase or a job negotiation, is to (a) ask open-ended questions (b) in an other-centered way that (c) communicates curiosity and engagement. This results in 2 very important outcomes:

  • Increased emotional resonance/goodwill
  • Increased informational asymmetry (knowing more than the other party) in the question-asker's favor

If we have those two factors in our favor during any negotiation, we're much more likely to get the best deal possible. If my friend had dug into this man's motivations and worries, she might have realized that being a good steward for the neighborhood, knowing that his garden will be taken care of, and helping someone he likes actually hold a monetary value for him. Showing the patience needed to ask some curious, open-ended questions of your counterpart will often lead to little discoveries like these that can tip the deal in your favor and help you align yourself correctly in relation to their hopes, fears, and values.

Quote we're contemplating

“He that can have patience can have what he will.” - Benjamin Franklin
Announcement
Our new online, at-your-own-pace course, "Negotiations: Mindset and Methodologies for Women Physicians" is officially live as of today! We are offering early bird pricing for the rest of today - then the price goes up $250 at midnight. If you want to take advantage of the discount just click the link above and enter promo code "BBMD_SATURDAYMORNINGROUNDS" at checkout. Here's an overview of the course:

You will learn to:

  • Communicate more effectively
  • Recognize why this negotiation is so important
  • Understand the obstacles that might keep you from achieving your goal
  • Quiet your fear and elevate your power at the negotiation table by
    • Thoroughly preparing
    • Utilizing strategic frameworks
    • Applying negotiation best practices
  • Gain leverage by understanding your contract
  • Accept an offer

This course is perfect for:

  • Time crunched
  • Self-motivated learners
  • Willing to take action despite uncertainty
This course is built to
  • Get you results, immediately
  • Succeed against a seasoned counterpart
  • Set the tone for your professional reputation, long after this negotiation

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As always, please let us know your requests and suggestions on Twitter. Which section above is your favorite? What do you want more or less of? Just send a tweet to @BossB_MD and put #SaturdayMorningRounds in there so we can find it.


Have a wonderful weekend, all!