12 Apr 3 Salary Negotiation Tactics That Will Improve Your Financial Success
Women across the globe recently rallied together for Equal Pay Day, and it’s a movement I fully support. Unfortunately, even in today’s day and age, women are still paid 20% less than men on average.
In an ideal world, employers would pay everyone fairly and equally based on merit and skills, but until that day comes, we need to take strides to ensure we’re paid our true value.
Studies show that women are less likely to negotiate salary, which is a partial cause for their diminished pay. The upside of this is that utilizing smart salary negotiation tactics can both close the gender pay gap and boost your financial success.
Here are some of those salary negotiation tactics you can apply to get ahead in your career:
Don’t be afraid to ask
It seems like a no-brainer, but the biggest root of this problem is that women simply don’t ask for raises. Granted, this is easier said than done in a tense interview environment – but I guarantee you that no firm will willingly cough up more money unless they’re asked.
You need to start being your own best cheerleader, because no one else will. We’re often smarter and brighter than we give ourselves credit for. The worst that can happen is that you’re told “no” when asking for more money. If this hurts your job prospects (which is highly, highly unlikely), it isn’t an employer you’d want to work for anyway.
Research your way to better pay
Thanks to the Internet, you don’t have to be left in the dark when it comes to the fair market value of your career. Sites like Glassdoor.com provide a treasure trove of information on how much people in similar roles are paid. You can even narrow this down by geography, level of experience, and company to get more specific.
As they say, knowledge is power. If you know how much others are being paid, that’s one of the best salary negotiation tactics you can bring to the table.
When it comes to salary negotiation tactics, numbers are your new best friend. Anything you can quantify about your accomplishments is a surefire way to increase your value. For instance, anyone can say “I’m great at marketing,” and it isn’t a convincing argument for more pay (or a good marketing tactic). On the other hand, telling a potential employer “I brought in $100,000 in sales,” is a number managers can wrap their head around, and it brings real value to your side of the table.
The bottom line: getting the money you deserve doesn’t have to be left up to chance. You can and should get recognized for your fantastic abilities.
Are there any other salary negotiation tactics you’ve used? I’d love to hear about them on Twitter!