Women often tend to skip salary negotiation compared to men, which leads to a significant loss of potential earnings throughout their careers, according to various studies. This hesitation not only places women at a disadvantage but also continues to widen the gender wage gap. Many women mistakenly believe that negotiation stops once they’ve secured a job; in reality, it’s just the beginning. Regularly negotiating pay raises and additional benefits like resources and flexible work hours is crucial. No matter where you are in your career, mastering negotiation skills is essential. Here are four tips to help women enhance their negotiation abilities:
1. OVERCOME YOUR FEAR
Women often hesitate to use their negotiation skills, but losing thousands of dollars just to stay within your comfort zone is far scarier. Society hasn’t encouraged women to be assertive or demanding, and breaking these norms can lead to criticism. Yet, this stereotype needs to be challenged, especially when it comes to negotiation. Overcome your reluctance by gathering knowledge and doing thorough research.
2. PREPARE THOROUGHLY
Going into negotiations unprepared is never a good idea. Knowledge is power, and you need all the power you can get. A common misconception is that bargaining might lead to a job offer being withdrawn. However, by the time you’re negotiating, the company has already invested a lot in selecting you. Men negotiate regularly without fear of losing opportunities, and women should do the same. Equip yourself with comprehensive salary data by researching comparable salaries in your field and checking pay scales at your company through websites like Glassdoor and Salary.com. Assess your unique selling points, such as your experience and qualifications, and ensure your employer knows your worth.
3. DON’T ACCEPT THE FIRST OFFER
We often accept initial offers, assuming they are the best a company can give, but that’s rarely true. Always respond to the first offer. Even if salary changes are resisted, other factors like extended leave, flexible work hours, better benefits, and increased retirement contributions can still be negotiated.
4. PRACTICE REGULARLY
Rehearse your negotiation tactics in advance to refine your approach before the actual conversation. Seek advice from a mentor or trusted friend, or even role-play scenarios. Dedicate time to planning the dialogue and considering possible outcomes to be well-prepared. Ignoring salary negotiation is not an option, and it’s crucial for women to negotiate proactively to help close the gender pay gap.
Have you ever felt nervous about negotiating your salary or benefits? Have you faced any backlash, or has it been successful?