I wanted to write this blog post because I know that a lot of women out there are struggling with being able to have the confidence to go to an employer and say, “this is what I believe that I should be making and here’s why.”
Or having the confidence to say “based on the research that I've done, this is why I feel x amount is what I would like to be compensated.”
So I decided to write about this topic because I know women are struggling with asking for more money. To not always accept what is given to them and believe you are worth MORE. I know you started believing the lie that you don’t “deserve to make more” and that is a limited belief and here’s why:
As women, we have been getting confused with being polite by accepting what is given to us and not “ruffle feathers.” We will dial ourselves down because the last thing we want to be is an inconvenience, demanding, and seen as someone who is “pushy.”
We rather quiet ourselves down because we don’t want to rock the boat and that mindset is hurting us.
If you’re reading this, it shows that you care about how you approach your career. That you care enough about improving your situation because you know deep down that you are worth more than what you have been accepting.
I have three steps that are going to help you and proven to help you be better at negotiating your salary.
Step 1-Change your mindset
This is by far the most important. And if you've been following me for awhile, you know that I am about mixing mindset with tactical steps. I believe that we have to have both to achieve true career success. My first step is to believe your worth to the core.
It’s okay to ask for the amount of money that you feel you should be compensated for. Do not let anyone trick you into believing your value should be discounted. Believe in your value-end of story. You know the type of employee you are, the skills you can offer, and the list goes on! I can almost guarantee that if you accept a job that you’re not happy with the compensation, you will regret it and wish you were being paid more.
I want you to first ditch those limiting beliefs and start believing in stepping into the belief of I am worth this. When you can change this mindset, you will change how you approach your conversations. Say it out loud in your car, in the mirror, and write it down! Remember you’re worth it because you know what you can give.
Step 2-Prepare for salary conversations My second step is to do your research. This step is the defining factor in whether someone is successful in their salary negotiations or not.
The reason why is because you always want to make sure that you can support your case. Make an effort to do your research and be prepared based on the data for the market. Think of it like selling your home. You work with your realtor to decide based on the market what your house would potentially sell for based on the market and comps.
This is the same concept with salary negotiation.
Take a look at what your industry pays and experience level. Gather together a range based on your findings. Here are some websites I think are great to use:
I recommend starting with Payscale.com because they have an intensive questionnaire that asks you things like what location you're in, what type of industry, job titles you've held, education background, skillsets you have, etc.
Once you complete the questionnaire, the system will analyze all of these different answers that you entered and spit out several ranges based on the market data.
Once you have an idea of the range that an employer potentially would pay based on the information inputed, then do some cross checking using Glassdoor. Glassdoor is a website that allows employees to disclose their current salary at a company.
The only con about Glassdoor is that you don't really know how many years of experience that individual has. For example, someone could disclose they make $150,000 a year but they have ten years of experience in their industry (the years of experience in total for that employee isn’t disclosed).
I like to use Glassdoor as a cross check, but I like using payscale first. The other website I have recently discovered is shenegotiates.com.
It’s extremely helpful for women and the whole website is dedicated to salary negotiation and compensation information. It has checklists to help you prepare for salary conversations, different data to take a look, and various resources all around compensation.
Step 3-Decide what your number is for every opportunity
Once you've done your research and have an idea of what the range potentially would be, then what I want you to do is decide what your number is for every opportunity. This is my third step for getting you on the right track for salary negotiation.
I would say about 95% of people do not do this and reflecting on what number you truly would be happy with. What is that number that you need in order to make a move? So as you go through the interview process with this employer and start collecting more information about each opportunity, decided the number.
The number will probably vary based on the opportunity because there are multiple factors to consider. Things like-the team, the type of responsibilities you will have, the schedule, the commute, the benefits, etc. Every opportunity will be unique and different pros to them. Which means your number could vary and that’s ok!
The reason I coach my clients and students to do this is because when you get that job offer, you want to be prepared on exactly what amount you have flushed out to be the right compensation for you-on your terms. You are now setting yourself up to make a successful decision and not out of emotion.
When the job offer arrives, you want to feel prepared, confident, and know you've done your research (even if that means you have to turn it down). Remember, just because you have to say no, it actually means you're getting closer to saying YES to that right opportunity.
Would you like me to hand you a personalized job search strategy for $1?