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It’s challenging to negotiate salaries and more difficult for women. Generally, women are paid less than men. The reason for this usually varies. However, part of this includes the uncomfortable discussion of salaries and hesitation in asking for more. Let’s find out some tips women can use in negotiating their salaries.
Learn about Gender Differences
Researching salaries will teach you about the roles where women are usually paid less. In such situations, you can bargain for more. You can also use online tools that help create check stubs to understand salary structures.
Outline Your Accomplishments
Aside from knowing the market, learn to market yourself. Outline your experiences and skills that would be valuable for your position. This allows you to put yourself in a better place for effective negotiations. Ensure you don’t exclude anything. Your list of accomplishments will be vital when you intend to ask for raises.
Know the Right Time
There are times when it’s okay to ask for a raise. Businesses usually have annual reviews. This can be an excellent time to bring up the issue. Another easy time is when you make a valuable contribution at work. Start the meeting with a conversation about professional development.
Prepare a list of things you intend to go over, and ensure you have a backup plan if your boss doesn’t compromise your salary or title. An expert tip is to package your request. It should include your salary range (ensure to go above your ideal minimum), remote work time, continuing professional education, medical coverage, stock options, and even vacation days.
Practice Your Speech
Whether you intend to seek a promotion or begin a new job, write down details that will help you negotiate your salary. Practice speaking with a mentor or friend, and rehearse it several times until you’re more confident. While there is a possibility that it won’t go as planned, practicing demonstrates conviction and confidence when negotiating your salary.
Know Your Value
Women must perform research and have a benchmark that helps them know the market value of a job. That is the average pay and salary range you expect to earn. Consider using online tools.
You can also share your research with the hiring manager during an interview and ask questions about stock and equity. Remember to inquire about the promotion structure and when and how evaluations are conducted. For example, ask if there is an opportunity to request a salary review after half a year instead of yearly.
Have a Bottom Line
Ensure you have a bottom line of the salary you wish to accept before starting salary negotiations. Performing research on your living cost, commuting, and budget in your city can help you make an informed choice. If you can’t receive your desired salary, see if you can negotiate other benefits such as work-from-home days every week or pad time off (PTO).
Negotiation is a part of the hiring process when beginning a new role. Though negotiating salaries can be daunting, especially for women, the tactics and tricks above can help boost your confidence.