6 Tips For Women to Get Paid What They're Worth

We all know that getting a job is tough, if not almost impossible, and when jobs are hard to come by you may not be inclined to negotiate your salary. That would be a big mistake. Did you know, by not negotiating the first salary a person can lose more than $500,000 by age 60? I know that number sounds startling but it gets worse, what if a person never negotiated for any salary offer? So promotions and annual raises, a person just smiles and accepts what is offered. Sound unlikely? Well it’s not. Did you know 2009 statistics indicate women still make less than their male counterparts, approximately 20% less. While that is better than 2008, it’s common in downturns for that gap to get closer because men are usually in positions to receive bonuses and fewer bonuses are paid out. We know Caucasian women make about 20% less than their male counterparts, here are some startling statistics from the Institute for Women’s Policy Research: • African American women earned 68.9 cents for every dollar earned by a white male. • Latina/Hispanic women only earned 60.2 cents for every dollar earned.rnWhile women’s incomes have gained steadily, their earnings have also become more important to family incomes. Why has the increase happened so slowly you might wonder? A few factors, consider this: • A recent study found that when women and men were offered pay for doing a specific job, only 1 in 3 women negotiated for more money. • In surveys, 2.5 times more women than men felt “a great deal of apprehension” about negotiating. Where am I going with all this? Well, good question! In all my years of performing interviews, giving annual reviews, and promoting people, I can count on one hand how many times a woman counter offered. Why does this matter? Because I think this has a lot to do with the is a pay disparity between women and men. After years of encountering this phenomenon I decided to start giving these women feedback after the situation, usually a week or two after they had accepted an offer. I would quietly find a good time to talk to them. I would start the conversation with how they were doing in their new position, etc. After some chitchat to get them comfortable I would ask why they didn’t counter offer me when I offered the position. They would stare back at me, not sure what to say.rnI would explain to them, as a manager I have a responsibility to look out for the interests of the company I work for. Managers usually have a pay guide, a chart, based on position, years of experience, etc. We typically start at the low end of wherever you would fall in that chart. That’s how it works most of the time, I have seen examples of issues, but not often. Over the years, after I explained this to these ladies, you could see the light bulb go off. I told them that I EXPECT a counter offer. You aren’t going to get what you ask for, usually, but you will get more. I would role play and they would quickly became more comfortable and confident, usually leaving my office smiling with their head held higher. So here are 6 tips for preparing for the potential meeting: 1. Know what you are worth. Know what the salary is for your position in your geographical area. It’s easy, search online, check a few sites to get an average. 2. Ask for copies of all your performance reviews and keep them, they are gold (if they aren’t gold work on the problem areas). 3. If you have a possible promotion or job offer coming up, take a long look at your accomplishments, write them down. Prioritize them so you mention the important ones first. 4. Practice in the mirror. I mean it! Just by saying the words a few times they become easier to say when you are under stress, I promise. Ask yourself what you bring to the table, your experience, your skills, your accomplishments. Then practice what you would say in a counter offer. 5. Do whatever you need to do to appreciate your unique skills and perspective. 6. Know your objectives. Make some clear goals about your career, where you want to go, what is most important to you (for example money or flexibility).rnNow it’s the big moment, what do you do? Don’t speak your number first, if possible, this is often more difficult for women than men because you want to “step in” when there is difficulty. The best option, they give you an offer first. You are given an offer!! Hooray! Now what? • Smile (no matter what) and enthusiastically thank them. • Ask what qualifications made you stand out (or something along those lines). Try to give yourself a day or two to think about the offer. But you need to consider how many other candidates there are, how qualified you are, and much more. Each of you have a special set of skills and perspectives that make you valuable and unique. Relish them, hone those skills, see how fabulous you are and the sky is the limit!