Reasons vary, but in general, women are less likely to negotiate their salary than men. It can be uncomfortable and intimidating, especially if you're just starting your career. Negotiating your compensation comes down to finding the salary and benefits that match the market and your personal needs. A common misconception is that negotiations are all about money. They're not, so today I'm sharing how you can professionally negotiate your compensation with your potential employer to get the best offer. Know your worth and add tax, girl.
Let's start basic. Before you can start throwing numbers out you need to do some research. You should know how much the job is worth and how your skills and experience match the role. What's the market saying that your role is worth? You can find out this kind of information from the Bureau of Labor Statistics. I’ve used this website for multiple school projects about the market of my career choice and found tons of useful information.
I used to go into interviews (on the phone or in person) feeling intimidated. I felt like I needed to sit back and be agreeable with everything they told me, throwing my personal needs out the window. Now, I go in being myself and feeling confident because like negotiations, interviews are a two way street. The job offer needs to work for you and your employer. Once I changed my mindset of being intimidated to feeling empowered, I started looking at conversations with potential employers differently.
There’s a difference between having an ego and exuding confidence. Be confident enough to state what you need but humble enough to be grateful for the opportunity. Striking that balance will show that you’re of value to the company because you know what you’re worth.
Here’s some things to keep in mind when negotiating:
Research the value of your skills
Take some time to evaluate the offer once you get it
Ask for what you need (flexible hours, resources you’ll need, salary, expense account for business travel, etc.)
Practice saying what you need slowly and confidently
Know what to say if they say no. Either stand your ground and walk away or go for what they are proposing. Think carefully about how you go about this because you could soon be working with the hiring manager.
Negotiating properly could be the difference in thousands of dollars and benefits. Most importantly, don't sell yourself short.