It is a known fact that women make less money than men, but did you know that women also attempt an initial salary negotiation less than men? We have all heard the scripture saying “you have not because you ask not.” Well, I wholeheartedly believe that to be true!
Except for my first job outside of college, I have successfully negotiated every starting salary I was offered. Not because I am greedy but because 1. I know my worth and 2. I know Black women are underpaid. I have always gotten what I asked for (total compensation), even if it didn’t look exactly the way I may have initially envisioned (base salary).
In this post, I will give you a few tips to help you prepare for your next Salary negotiation (hint: You can use these for a promotion discussion too).
Salary vs. Total Compensation
First I want you to understand that there is more than a base salary as a means to meet your needs. One job was unable to meet my base salary number but we got to the total number with a mix of vacation, signing bonus, and immediate bonus eligibility. Be open to other options that can enhance your quality of life if you really want the job! (e.g., flex working schedule, Maternity leave, stock options).
Know Your Worth
I know without a doubt that I am not average. My experiences, my work ethic, my skills…all above average. That is why I will ALWAYS negotiate a new salary offer. As lucky as I am to have this opportunity, they are just as lucky to have me! You should be able to clearly articulate what you will bring to the table/position with confidence as well as gratitude. Be direct, have your thoughts in order, and keep it brief.
Do Your Salary Research
You have to spend some time researching the average salary for your position. Salary.com and Glassdoor.com are great resources. Look at your position and the level above and below it. You don’t want to have an outrageously high number. You also want to filter for your geographic area as the cost of living affects pay rates. Once you know the range you should shoot for the high end. It’s a negotiation so you want to give them room to get to your “actual number.”
Know Your Number
A few states have passed laws around asking someone what they are currently making. If you feel uncomfortable not giving a number, make sure it’s your total compensation (salary, bonus, benefits, etc.). Most women are already underpaid, don’t let your current salary limit you.
If you have done your research you should already have your number in mind, but try to get them to throw out the first number. You will get a feel for the range they have approved for the position.
Studies have also shown that it’s better to have a very specific number ($87,450 vs. $85,000) in mind if at all possible.
If they try to get you to throw out a number first, it’s okay to tell them you are open in terms of an overall compensation package but you would like to learn more about the role before discussing salary.
Be Patient and Willing To Say No
While tempting, don’t push for an answer. After you have given your number, wait for them to get back with you. Once they do, if they are still offering a salary that is too far off from your number, say no. Especially if you are not in love with the position. I know sometimes it may feel like you need a new job no matter the cost. Trust me, making less than you are worth takes a toll on you. You deserve to be paid what you are worth. Period.
Scared Money Don’t Make Money
You have to take the emotion out of any negotiation (a new car or a new salary)! You don’t want the people you are negotiating with to sense your fear and anxiety. You want to appear confident and prepared for the discussion. If you don’t believe you are worth what you are asking for, why should they?
You know what you have to offer their company. This is your chance to show them the value you hold! Don’t let them intimidate you out of that new bag sis!
What questions do you have as you prepare for our next salary negotiation? Comment below or on Instagram and I’ll give any advice I have. I want us all to be able to add extra guac at chipotle AND contribute to our retirement accounts!
XOXO, Laya
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