Professional women manage different types of salary negotiations. After receiving an initial job offer, they have the opportunity to negotiate their starting salary. Women who are existing employees can also regularly renegotiate their salaries.
Tips for Negotiating Starting Salaries
Professional women considering a job offer should assess offers carefully. This involves evaluating how an offer stacks up against a current position, as well as against other potential offers. Additionally, professional women should keep in mind that compensation includes more than just a salary.
Benefits and perks — everything from a new laptop to funds to create a home office to matching 401K contributions — hold significant value. Professional women can address these and other benefits as part of their salary negations.
Get to Know the Current Salary Trends for the Industry
Negotiating a salary requires assertiveness. Unfortunately, when women take on assertive behaviors they often face a certain amount of social backlash. That’s because they’re not conforming to gender stereotypes that suggest they should be accommodating. As a result, women may not be inclined to advocate for themselves as they should.
How can women deal with this?
Numerous studies suggest women fare better in salary negotiations when they have a clear sense of the position’s actual salary range in the market. This information makes them less likely to slip into a gender-conforming role and more likely to let the facts guide their negotiating moves.
For this reason, professional women need to enter negotiations with accurate information about the current salary trends for their industry. By consulting current salary guides, they can discover what companies are paying for particular positions and levels of experience.
A salary guide allows professional women to:
- Compare hundreds of starting salaries in their market
- Learn about the most coveted skills
- Find out about the market demand for their position
With this information, professional women can better leverage their skill set or understand their limitations. To adjust salaries for geographic location, they can turn to Robert Half’s salary calculators or PayScale’s free salary report. These tools give even more insight about the going salary rates for positions.
Back a Counteroffer with Evidence of Your Worth
Women negotiating salaries need to make a strong case as to why prospective employers should invest in them. In addition to countering with a higher salary figure, they also need to detail the value they bring to the company.
For example, by detailing concrete examples of their skills and experience, they can discuss:
- How they will serve as an asset in addressing company challenges
- The unique capacities that set them apart that can drive organizational success
Additionally, they can discuss their special training and certifications supporting their case for a higher salary.
Rehearse Your Pitch
Coming across as calm and self-assured is key to a successful salary negotiation. By practicing key talking points with a mentor or friend who is experienced in the corporate world, professional women negotiating salaries can smooth out rough spots in their delivery and be ready to field unexpected questions.
Tips for Renegotiating Salaries
Asking for a raise can be anxiety provoking. Still, professional women can’t afford to avoid this important conversation. However, getting the timing right is important.
To gauge when to ask for a raise, professional women should consider factors ranging from what’s going on in their companies to the last time they got a salary boost. If they consider the right questions, their chances of getting the raise they want will increase.
The following tips can also improve the chances of successfully negotiating a raise:
Track Your Accomplishments
Just as professional women negotiating initial salaries must establish their value to the company, so must those asking for a raise. A great way for employees to clarify their worth is by tracking their accomplishments.
In an itemized spreadsheet or journal professional women can record:
- Major projects
- Successful deals
- Satisfied clients
- Saved resources and money
- Improvements in efficiency
- Revenue generated
- Avoided mishaps
All these accomplishments serve as quantifiable evidence that an employee is adding value to an organization. Professional women can prioritize building a strategy to add value to their organizations, then leverage their accomplishments to negotiate higher pay.
Communicate Your Aspirations
Organizations are more likely to give raises to individuals who appear to have systematically worked toward them. That being the case, professional women should regularly communicate their professional goals and aspirations to their supervisors.
If they share their goals with their supervisors, professional women can build stronger relationships with them. They can also engage actively with their supervisors in a goal-setting and review process. Employee goal sharing allows a supervisor to see employee motivation firsthand and brings employee accomplishments to the forefront. As a result, supervisors are more likely to champion an employee who is seeking a raise.
Reassess Your Current Position and Its Market Value
Over time, professionals learn new skills and take on new duties. Jobs evolve, even over a period of a few months.
Before asking for a raise, professional women should revisit their current job description and assess in what ways their work has changed and developed. Then, based on their findings, they should conduct research to evaluate whether their current job title still reflects their actual duties.
Using a tool like Glassdoor’s Know Your Worth salary calculator, professional women can investigate salaries of positions similar to theirs adjusted for factors such as geographic location and job responsibilities. This research will allow professional women to get a better understanding of where their salary ranks given how their position has evolved.
Women negotiating salary should also take into account other circumstances including:
- Years of experience
- Company size
- Company’s financial state
With this information, women professionals can present an appropriate salary range and make a stronger case for a raise.