A new guide to help you travel the negotiation highway is launched today. Here’s the link: http://www.payscale.com/salary-negotiation-guide
I love working with Payscale.com because their product price is perfect for my clients. FREE! Well it’s free for employees but not free for employers. I’ve explored the tool from both perspectives and I recommend this tool when gathering information about your salary. What intrigues me the most about this guide and Payscale’s recent survey findings is this:
“Women are more likely than men to state that they are uncomfortable negotiating salary – 31 percent vs. 23 percent – and that holds true even among C-level executives where 26 percent of female Chief Executives said they’re uncomfortable negotiating compared to 14 percent of male Chief Executives.”
“Of those who asked for a raise, only 48 percent of female MBA grads received the requested raise compared to 63 percent of male MBA grads. And, 21 percent of female MBA grads received no raise at all after requesting one, compared to 10 percent of male MBA grads.”
These are people who are trained to negotiate in business school!
So what’s a nice girl to do? Knowing on average women earn 23% less than men (according to wage gap stats from the Bureau of Labor Statistics) we should all be negotiating and asking for pay raises like mad, right?
Well yes. But there are some caveats for female negotiators. You will find some valuable tools in the Payscale guide but I always suggest for women a collaborative and mutual gains framework when it comes to negotiation. Here’s the why and how of it. Yes…some questions are left unaswered.
- Women are held to a higher moral standard. Why? I don’t know. Maybe its because we bear children. What researcher do know is women are not allowed to speak of self-interest. At least not out loud. Instead, any discussion about pay must be framed around employer benefits. It’s always about the team! Not your level of experience, the amount of time on the job, or your salary at your last job. Your pay raise is the direct result of the value you bring to your company. Period. End-of-story. So, what’s your story? How does an extra $10,000 benefit your firm?
- In service to your firm. “You say,” potential employer, “there is a skills gap in my resume. I can see how that knowledge would benefit the company and more specifically my team. I am a very good student and learning new skills has never been a problem for me. In fact I thrive when asked to learn something new. My school work and past projects are proof that I am up to the challenge. It is my intention to be of service to this firm.“ Framing your work around service to your firm shows humility when negotiating salary. And yes, nice girls are humble.
- Team work is golden. Any time you can elevate the success of your teams will benefit your pay raise request. After all nice girls don’t spike the ball all by themselves. That is, if you are a girl who plays football. When my kids were three and six, a neighbor and I exchanged childcare days so we could get stuff done. We worked together to make our lives work better. Your employer is no different. What were the times your collaborative approach to a successful team worked in your favor. Emphasize these successes when asking for a pay increase or negotiating your salary.
Despite the data that seems to favor men negotiators, there are strategies to make salary negotiation successful for women. And in case you needed reminding, a $5000 annual negotiated pay increase earning 3% each year for 30 years yields $250013.40. Its well worth asking!
Here’s the link again to Payscale’s Guide to Salary Negotiation.
Let us know how your next pay raise ask goes.
If you would like to chat with me personally click here to set up a time to discuss your next salary negotiation strategy. Our first chat is on me.
Love and hugs,