Compared to men, women often shy away from salary negotiations, which can significantly reduce their potential earnings over their careers. This hesitation not only puts women at a disadvantage but also contributes to the persistent gender wage gap. Many women mistakenly believe that negotiation opportunities end once they land a job, when in reality, it’s just the beginning. It’s crucial to consistently negotiate for pay raises yearly, as well as for non-monetary benefits like resources and flexible work hours. Regardless of what stage you’re at in your career, mastering negotiation skills is key. Here are some tips to help women enhance their negotiation skills:
1. OVERCOME YOUR APPREHENSION
Women often hesitate to showcase their negotiation skills, but losing out on thousands of dollars due to fear of stepping out of your comfort zone is far scarier. Society hasn’t traditionally encouraged women to be assertive, and when we defy these norms, criticism often follows. It’s essential to break this stereotype, especially in negotiation scenarios. Overcome reluctance by gaining knowledge and doing your homework thoroughly.
2. EQUIP YOURSELF
Entering negotiations unprepared isn’t wise. Knowledge is power, and you need every bit of it. Women often fear that negotiating might cost them the job offer. However, by the time you’re negotiating salary, the company has already invested heavily in choosing you. Men negotiate regularly without worrying about missed opportunities, and women should too! Prepare by gathering comprehensive salary data, researching comparable salaries in your field, checking company pay scales on sites like Glassdoor and Salary.com, and evaluating your unique skills and experience. Make sure your employer knows your value.
3. DON’T SETTLE FOR THE INITIAL OFFER
Many times, we accept the first offer, thinking it’s the best they can do, but that’s rarely true. Always respond to initial offers. Even if they say no to changing the salary, you can negotiate for other things like additional leave, flexible work hours, better benefits, and higher retirement contributions.
4. PRACTICE MAKES PERFECT
Rehearse your negotiation strategies before the actual conversation. Whether it’s seeking advice from a mentor, confiding in someone you trust, or role-playing in a comfortable setting, spend time planning your discussion and thinking through possible outcomes. While skipping salary negotiation isn’t an option for anyone, it’s especially important for women to take proactive steps to help close the gender pay gap.
Have you ever felt nervous about negotiating your salary or benefits? Have you ever faced any backlash, or did it turn out successful?