How do I make sure I get the salary I deserve? Four steps to successful salary negotiations.
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Today’s headlines are quick to point out that in most professions men make more than women for performing the same job. For decades women have demanded equal pay for equal work, yet year after year women's salaries fail to measure up to the salaries of men. Why does the “pay gap” still exist?
Experts have a variety of explanations for this continued phenomenon. From cultural bias to gender discrimination, there are many theories as to why women earn less than their male peers. While these intellectual opinions are interesting, maybe something more simple contributes to pay inequities: women have a habit of leaving their negotiating skills at home instead of bringing them into the office.
We’ve all negotiated deals with our children, our friends or our significant others. These deal-making skills are necessary on the job as well. Consider the last time you got a promotion or a new job offer. Chances are you were pretty excited about the new opportunity and were quick to say “yes!” Then, several months later while standing around the water cooler, you realized that your co-worker Tom, who is doing the same job you are, makes $5,000 more a year. Before you cry foul and accuse your company of discrimination, remember back to the moment you were offered your position. Did you accept the salary as offered, or did you ask to be paid what you are worth?
If you failed to negotiate the best deal you could, follow these steps the next time a job change or a potential raise is in your future:
* Understand what you are worth. Before you interview for your next career advance, survey the scene and find out what the going rate is for the position. Resources on the web, campus career centers and women’s organizations offer data on salaries relating to specific professions and geographic areas. Once you know the salary range for positions similar to yours, you’ll have an idea of what you can realistically expect to earn on the job.
* Raise the issue. Do not just instantly accept an offer when an employer presents you with a new opportunity. Recognize that employers expect you to negotiate your salary and ask questions regarding benefits and perks. A good rule of thumb is to ask for an additional 10% of the original salary offer. If your employer is unwilling to budge on the salary, attempt to negotiate other aspects of the offer. You might be able to get additional vacation days, or your company might agree to fund your advanced degree. Consider alte
ate means of compensation.
* Do not be afraid of “no.” In your efforts to negotiate a better offer or larger salary, the worst that can happen is the employer says no. If the company’s representative holds firm on the original offer, you can still chose to accept the position. And you’ll be doing so with more information. You’ll never have to wonder what might have been if you had had the courage to ask for more. Most companies have an acceptable range of salaries for each position. As long as your request for an increase in the offer is reasonable, you’ll likely get what you ask for.
* Be decisive. If the offer does not add up to the dollars you deserve, be prepared to walk away. Before you begin salary negotiations, know what the minimum salary you will accept is. If an employer can’t meet your reasonable salary requirements, move on.
A job change or a promotion is something to celebrate. You will have an extra reason to acknowledge your accomplishments when you negotiate the best deal possible. As you take greater control of your career, it is important to continuously seek new opportunities and challenges. Having the courage to ask to be paid what you are worth will challenge you to use your negotiating skills in the office. After all, as women we know how to broker deals with our friends and family members. It’s time you put those skills to work on your professional bottom line.
Article author
About the Author
Courtney Lynch, along with her business partner Angie Morgan, authored the best-selling business book, “Leading from the Front” and founded Lead Star, LLC. Based upo
Angie and Courtney’s experiences as Marine Corps Officers, private sector professionals and entrepreneurs, Lead Star has shared its leadership message with over 100,000 professionals world-wide. To learn more visit: www.leadstar.us.
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