The power of RTM import in combination with Excel
calimyrna says:
I love using Excel in combination with RTM email import. Here is one recent use I've made of it:
SALARY NEGOTIATION
This was inspired by a few things that hit my radar lately:
* I'm a statistically average Asian woman in the sense that I'm twice cursed by the tendency to underestimate my worth in a salary negotiation.
* I also keep forgetting to recalibrate how much I'm worth based on time and experience. The average salary growth in the last four years has been 3%/year, while I've only taken a $1 pay raise in that same time frame.
* One negotiation technique I've recently learned is to reframe the starting point using repetition. Repetition magically recalibrates both parties to the new number. The Slate Negotiation Academy podcasts cited an experiment done where MBA students wrote down the last two digits of their SSN and were asked whether they'd pay that much in dollars for a handful of items. When it came time to bid on the items, the students with higher (essentially random) digits ended up bidding more for the same items.
http://www.slate.com/articles/podcasts/negotiation.html
* I recently learned that my classmates are making nearly twice as much now as I am.
I decided that I need a system that uses repetition to recalibrate my own sense of how much to expect in a salary negotiation. So here's what my Excel results look like:
I'm worth $27.09 /hr #.s ^30 days
I'm worth $27.18 /hr #.s ^61 days
I'm worth $27.27 /hr #.s ^91 days
I'm worth $27.36 /hr #.s ^122 days
I'm worth $27.44 /hr #.s ^152 days
I'm worth $27.53 /hr #.s ^183 days
I'm worth $27.62 /hr #.s ^213 days
I'm worth $27.72 /hr #.s ^243 days
I'm worth $27.81 /hr #.s ^274 days
I'm worth $27.90 /hr #.s ^304 days
I'm worth $27.99 /hr #.s ^335 days
Time to recalibrate: $28.08 /hr #.s ^365 days
(I'll provide the formulas for doing so below.)
I then copy and paste that as text into an email to my RTM import address. This creates a tag, ".s", with reminders established. (I like to tag them so that I can easily delete and redo if needed.)
Now, about once a month, I get an RTM reminder updating me on how much I'm currently worth! It's amazing how quickly my mind wraps itself around the new number, stops worrying about whether it's too high, and just accepts it.
The way I see it, this helps me do my part in increasing the number of women and minorities in leadership positions. It's a great mindset for that next salary negotiation!
The Spreadsheet
Here are the formulas I used to create this (pasted into A1 of a worksheet). Cells are delimited with " | ". The only cells that need to be changed are:
B1 - the average annual salary increase, 3 - 4%.
B2 - Update frequency, in # times / year
B3 - Current worth (just the dollar amount)
C3 - The suffix for each entry (for me, "/hr #.s", indicating the units of pay, and with #.s indicating that I want to tag this entry ".s").
A4 - Prefix for each entry ("I'm worth")
Annual increase: | 0.04 | | |
Update frequency: | 12 | times / year | |
Current worth | 27 | /hr #.s | |
I'm worth | =B3*(1+$B$1)^(1/$B$2) | =C3 | =365/$B$2*COUNTA($A$4:A4) | days
=A4 | =B4*(1+$B$1)^(1/$B$2) | =C4 | =365/$B$2*COUNTA($A$4:A5) | =E4
=A5 | =B5*(1+$B$1)^(1/$B$2) | =C5 | =365/$B$2*COUNTA($A$4:A6) | =E5
=A6 | =B6*(1+$B$1)^(1/$B$2) | =C6 | =365/$B$2*COUNTA($A$4:A7) | =E6
=A7 | =B7*(1+$B$1)^(1/$B$2) | =C7 | =365/$B$2*COUNTA($A$4:A8) | =E7
=A8 | =B8*(1+$B$1)^(1/$B$2) | =C8 | =365/$B$2*COUNTA($A$4:A9) | =E8
=A9 | =B9*(1+$B$1)^(1/$B$2) | =C9 | =365/$B$2*COUNTA($A$4:A10) | =E9
=A10 | =B10*(1+$B$1)^(1/$B$2) | =C10 | =365/$B$2*COUNTA($A$4:A11) | =E10
=A11 | =B11*(1+$B$1)^(1/$B$2) | =C11 | =365/$B$2*COUNTA($A$4:A12) | =E11
=A12 | =B12*(1+$B$1)^(1/$B$2) | =C12 | =365/$B$2*COUNTA($A$4:A13) | =E12
=A13 | =B13*(1+$B$1)^(1/$B$2) | =C13 | =365/$B$2*COUNTA($A$4:A14) | =E13
What this creates in Excel is this*:
Annual increase: | 4% | | |
Update frequency: | 12 | times / year | |
Current worth | $27.00 | /hr #.s | |
I'm worth | $27.09 | /hr #.s | ^30 | days
I'm worth | $27.18 | /hr #.s | ^61 | days
I'm worth | $27.27 | /hr #.s | ^91 | days
I'm worth | $27.36 | /hr #.s | ^122 | days
I'm worth | $27.44 | /hr #.s | ^152 | days
I'm worth | $27.53 | /hr #.s | ^183 | days
I'm worth | $27.62 | /hr #.s | ^213 | days
I'm worth | $27.72 | /hr #.s | ^243 | days
I'm worth | $27.81 | /hr #.s | ^274 | days
I'm worth | $27.90 | /hr #.s | ^304 | days
I'm worth | $27.99 | /hr #.s | ^335 | days
Time to recalibrate: | $28.08 | /hr #.s | ^365 | days
* Now here's a key tweak:
To get things to import correctly, I need to reformat column D (the number of days until the reminder) with a "^" in front of it. There can't be a space between "^" or the number or days, or RTM won't import correctly. To do this, I highlight Column D in Excel and change the number format to: More Number Formats > Custom > Type: "^0"
Then I just copy and paste the reminder lines as text to my email, send it to my RTM import address, and I'm all set!
SALARY NEGOTIATION
This was inspired by a few things that hit my radar lately:
* I'm a statistically average Asian woman in the sense that I'm twice cursed by the tendency to underestimate my worth in a salary negotiation.
* I also keep forgetting to recalibrate how much I'm worth based on time and experience. The average salary growth in the last four years has been 3%/year, while I've only taken a $1 pay raise in that same time frame.
* One negotiation technique I've recently learned is to reframe the starting point using repetition. Repetition magically recalibrates both parties to the new number. The Slate Negotiation Academy podcasts cited an experiment done where MBA students wrote down the last two digits of their SSN and were asked whether they'd pay that much in dollars for a handful of items. When it came time to bid on the items, the students with higher (essentially random) digits ended up bidding more for the same items.
http://www.slate.com/articles/podcasts/negotiation.html
* I recently learned that my classmates are making nearly twice as much now as I am.
I decided that I need a system that uses repetition to recalibrate my own sense of how much to expect in a salary negotiation. So here's what my Excel results look like:
I'm worth $27.09 /hr #.s ^30 days
I'm worth $27.18 /hr #.s ^61 days
I'm worth $27.27 /hr #.s ^91 days
I'm worth $27.36 /hr #.s ^122 days
I'm worth $27.44 /hr #.s ^152 days
I'm worth $27.53 /hr #.s ^183 days
I'm worth $27.62 /hr #.s ^213 days
I'm worth $27.72 /hr #.s ^243 days
I'm worth $27.81 /hr #.s ^274 days
I'm worth $27.90 /hr #.s ^304 days
I'm worth $27.99 /hr #.s ^335 days
Time to recalibrate: $28.08 /hr #.s ^365 days
(I'll provide the formulas for doing so below.)
I then copy and paste that as text into an email to my RTM import address. This creates a tag, ".s", with reminders established. (I like to tag them so that I can easily delete and redo if needed.)
Now, about once a month, I get an RTM reminder updating me on how much I'm currently worth! It's amazing how quickly my mind wraps itself around the new number, stops worrying about whether it's too high, and just accepts it.
The way I see it, this helps me do my part in increasing the number of women and minorities in leadership positions. It's a great mindset for that next salary negotiation!
The Spreadsheet
Here are the formulas I used to create this (pasted into A1 of a worksheet). Cells are delimited with " | ". The only cells that need to be changed are:
B1 - the average annual salary increase, 3 - 4%.
B2 - Update frequency, in # times / year
B3 - Current worth (just the dollar amount)
C3 - The suffix for each entry (for me, "/hr #.s", indicating the units of pay, and with #.s indicating that I want to tag this entry ".s").
A4 - Prefix for each entry ("I'm worth")
Annual increase: | 0.04 | | |
Update frequency: | 12 | times / year | |
Current worth | 27 | /hr #.s | |
I'm worth | =B3*(1+$B$1)^(1/$B$2) | =C3 | =365/$B$2*COUNTA($A$4:A4) | days
=A4 | =B4*(1+$B$1)^(1/$B$2) | =C4 | =365/$B$2*COUNTA($A$4:A5) | =E4
=A5 | =B5*(1+$B$1)^(1/$B$2) | =C5 | =365/$B$2*COUNTA($A$4:A6) | =E5
=A6 | =B6*(1+$B$1)^(1/$B$2) | =C6 | =365/$B$2*COUNTA($A$4:A7) | =E6
=A7 | =B7*(1+$B$1)^(1/$B$2) | =C7 | =365/$B$2*COUNTA($A$4:A8) | =E7
=A8 | =B8*(1+$B$1)^(1/$B$2) | =C8 | =365/$B$2*COUNTA($A$4:A9) | =E8
=A9 | =B9*(1+$B$1)^(1/$B$2) | =C9 | =365/$B$2*COUNTA($A$4:A10) | =E9
=A10 | =B10*(1+$B$1)^(1/$B$2) | =C10 | =365/$B$2*COUNTA($A$4:A11) | =E10
=A11 | =B11*(1+$B$1)^(1/$B$2) | =C11 | =365/$B$2*COUNTA($A$4:A12) | =E11
=A12 | =B12*(1+$B$1)^(1/$B$2) | =C12 | =365/$B$2*COUNTA($A$4:A13) | =E12
=A13 | =B13*(1+$B$1)^(1/$B$2) | =C13 | =365/$B$2*COUNTA($A$4:A14) | =E13
What this creates in Excel is this*:
Annual increase: | 4% | | |
Update frequency: | 12 | times / year | |
Current worth | $27.00 | /hr #.s | |
I'm worth | $27.09 | /hr #.s | ^30 | days
I'm worth | $27.18 | /hr #.s | ^61 | days
I'm worth | $27.27 | /hr #.s | ^91 | days
I'm worth | $27.36 | /hr #.s | ^122 | days
I'm worth | $27.44 | /hr #.s | ^152 | days
I'm worth | $27.53 | /hr #.s | ^183 | days
I'm worth | $27.62 | /hr #.s | ^213 | days
I'm worth | $27.72 | /hr #.s | ^243 | days
I'm worth | $27.81 | /hr #.s | ^274 | days
I'm worth | $27.90 | /hr #.s | ^304 | days
I'm worth | $27.99 | /hr #.s | ^335 | days
Time to recalibrate: | $28.08 | /hr #.s | ^365 | days
* Now here's a key tweak:
To get things to import correctly, I need to reformat column D (the number of days until the reminder) with a "^" in front of it. There can't be a space between "^" or the number or days, or RTM won't import correctly. To do this, I highlight Column D in Excel and change the number format to: More Number Formats > Custom > Type: "^0"
Then I just copy and paste the reminder lines as text to my email, send it to my RTM import address, and I'm all set!
calimyrna says:
This is also useful for re-enforcing any long-term change -- you could create similar formulas for weight loss, for instance. Just calculate the first line and drag the formula down.
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