Press Release

SoFi Says It’s Time For Americans To “Get That Raise” With Tools To Claim Their Value

MSNBC’s “Morning Joe” co-host Mika Brzezinski Joins SoFi for Live Event in New York City; Launches Custom Salary Tool to Help People Refine Their Ask

SAN FRANCISCO, CALIF. – September 13, 2018 – Over half of Americans feel underpaid yet only 33% are planning to ask for a raise this year. To inspire Americans to reach their financial goals faster, SoFi is launching “Get That Raise,” a special initiative to equip professionals with the tools and the confidence to know their value in the workplace and ask for greater compensation.

As part of the initiative, SoFi is partnering with Mika Brzezinski, co-host of MSNBC’s “Morning Joe,” founder of Know Your Value and bestselling author of Knowing Your Value. Brzezinski will join Libby Leffler, SoFi’s VP of Membership, for a special SoFi event on September 20th in New York City and weigh in the importance of knowing and claiming your value. She will also workshop live with event attendees on how to best prepare and ask for a raise. This free, ticketed event is open to both SoFi members and the general public. For those unable to attend in-person, the event will be livestreamed across Twitter and Facebook.

“Our members are at the heart of everything we do and our mission is dedicated to helping them reach financial independence – and earn their way to prosperity,” says Leffler. “One of the best ways to accelerate the path to financial independence is by getting paid what you’re worth. As part of Get That Raise, we’re providing our members and the public with the tools and resources they need to feel most confident in approaching their boss and having a constructive conversation.”

“I’ve spent many years helping people to advocate for themselves in the workplace,” said Brzezinski. “I’m thrilled to be a part of Get That Raise and partner with SoFi to help people know – and grow – their value.”

Leffler adds, “Mika Brzezinski has penned the go-to manual on this topic, so we couldn’t think of a better partner to kick-off this initiative.”

To better understand Americans’ hurdles to getting a raise, SoFi recently conducted a survey.* Additional findings of the survey include:

– The vast majority (50%) of respondents’ biggest fear when thinking about negotiating their pay is appearing greedy or ungrateful; and,

– 42% of respondents said they assume they will not have a strong enough argument and will get declined.

– 25% of female respondents reported they have never thought about asking for a raise in the last year while only 18% of men said the same.

– 56% of respondents said that the minimum they need to receive to make the conversation with their boss “worth it” was $5,000.

In addition, SoFi has launched an online tool that develops a personalized action plan to help you Get That Raise. This interactive experience helps gather information like job title, years of experience and based on your location and other factors shows your value in the market and also creates a professionally designed presentation to be used during negotiation.  Based on insights from our members, we found that the greatest challenge is knowing how to ask for a raise and this special tool is meant to provide them with concrete and actionable information to help them be prepared and feel more confident.

SoFi members have access to membership benefits which include over 250+ events across the country and more. SoFi also offers free career coaching to all active members through an exclusive partnership with Korn Ferry. SoFi members also have access to a career development platform, powered by Korn Ferry, which includes resume assessments and career-focused personality evaluations, free of charge.

To learn more about the initiative and check out the Get That Raise tool visit getthatraise.sofi.com.

*Raise Awareness Survey conducted of over 1,138 SoFi members from 8/7/18 to 8/9/18.

About SoFi

SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than half a million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit SoFi.com.

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