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Elizabeth Banks shared trading tips that shaped her career

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  • Elizabeth banks is an actress, director and producer.
  • She recently hosted a podcast and movie series featuring mid-cap companies reinventing themselves in the face of business challenges. These spots were part of the Crazy Enough to Work series, created by State Street Global Advisors.
  • Banks said his best trading strategy is knowing when you’re ready to pull out.
  • Some negotiating experts agree with this advice; others not exactly.

Elizabeth Banks has built a career as an actress, director and producer. Which means that, like any other businessman, although less glamorous, she sometimes had to ask for more money from her managers.

In an interview with Business Insider, Banks shared his approach to salary negotiations: “It all depends on what you’re willing to quit. You have no power if you’re not willing to step down.”

Banks has appeared in the TV series “30 Rock”, the film “The 40-Year-Old Virgin” and the “Pitch Perfect” franchise, which she developed and produced by Brownstone Productions, the production company she runs. with her husband. . Right now, she’s directing a reboot of “Charlie’s Angels,” which is set to hit theaters in 2019.

Recently, Banks also hosted a series of shorts and podcasts created by State Street Global Advisors, titled Crazy enough to work, by interviewing mid-size companies that are reinventing themselves in the face of business challenges.

Banks said before this money is important to her, both as a symbol of her accomplishments and as a way to have a more lavish lifestyle.

“I also like the money, and that’s OK,” she said. The New York Times in 2017, describing her journey to become a director and producer. Earlier in her career, she told The Times, she wanted to buy a house where her children wouldn’t have to share a room.

And when she asked other actresses for career advice, Banks told The Times, they said, “It’s actually OK to want money the same way your male colleagues want money. silver.”

Defining a starting point can be helpful, but can also backfire, experts say

The banks’ approach – defining your starting point – has been touted by some negotiating experts. In an article for The museAttorney Victoria Pynchon wrote: “If you act like you’re ready to walk away from a deal unless you achieve the desired goal, your negotiating partner will have a lot more incentive to meet your demands. or make some serious problem-solving effort to create enough value that you both get what you want. “

And on ForbesAlexandra Dickinson, founder of consultancy firm Ask For It, writes that even if you are seemingly at a disadvantage – like you’re an employee negotiating a raise – it’s always important to define your starting point in advance.

If that point is 10% and you are offered 5%, instead of thinking it’s better than no increase, “you can go back to the bargaining table, or you can consider starting a search. ‘job to seek a better opportunity’.

On the other hand, in the harvard business review, lawyer and consultant Jay A. Hewlin writes that having a “walk” result can backfire. Instead, you should focus on your mutual dependence with your trading partner.

Hewlin writes, “Focusing on mutual dependence draws your attention to inquiry and exploration, pushing the conversation forward to, ‘How much can I take out of this deal above my best alternative? “To” How many ways can I demonstrate the value of my business to this person based on their needs? ‘”

As for Banks, another negotiating wisdom she’s been following since high school is less controversial: “You don’t get what you don’t ask for,” Banks told Business Insider, “You can’t complain later. for doing don’t get it if you haven’t asked for it. People are not mind readers. “

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