Negotiation tips for women: All you need to know

Negotiation tips for women have been listed and explained in this article, to enable you to negotiate like a pro as a boss woman.

In nearly every industry and across sites and positions, men often earn more than women. According to the United States Census, in 2018, women earned 81.6 cents for every dollar that men earned.

To narrow the gender pay gap, 19 states and 21 local municipalities have enacted payroll bans – laws that prevent employers from asking candidates about their salary history. The idea is that when hiring managers cannot use current or former candidate compensation to determine salary, they are less likely to offer a reduced salary.

Although a payroll ban does its job in improving gender pay equity, the legislation is only one possible remedy; How and when men and women negotiate also contributes to the gender pay gap. The Randstad 2020 study found that 60 percent of women never bargained for their pay, compared to only 48 percent of men.

Also Read: How To Negotiate A Higher Salary

Negotiation tips for women

While some women do not negotiate enough or not at all, others simply do not succeed when it comes to negotiating a job offer or a salary increase.

This may be due to the “social cost” of the negotiation. This means, in some cases, that women may not negotiate successfully because of their awareness of sanctions that may restrict their professional lives, such as a weaker relationship with their manager or other forms of revenge.

However, the reality is that with these negotiation tips for women, a woman can negotiate successfully without penalty. By approaching negotiations differently and learning some basic skills, you can be on your way to a fairer salary. Here are seven salary negotiation tips to help you earn the compensation you deserve:

Also Read: How to handle multiple job offers

1. Understand the cost of not negotiating

According to a study by Glassdoor, the average employee can earn up to 13% more annually than their current annual base salary. When you factor in the gender pay gap, you may leave more money on the table by not negotiating.

And the cost of not negotiating increases over time. ZipRecruiter’s analysis even found that negotiating a salary that starts at $ 45,000 instead of $ 40,000 translates into additional lifetime earnings of over $ 750,000 over 45 years. By not demanding your value today, you are likely depriving yourself of large profits in the future.

2. Be prepared

It is imperative to research before entering into salary negotiations. The more prepared you are, the higher the chances of a positive outcome. The following sites can help you understand the competitive salary range for your position:

• Ratib.com
• Payscale.com
• glass door
• Bureau of Labor Statistics

In addition to researching industry standards online, talking to a mentor or people in your network can help you understand the salary precedent, as well as the negotiation challenges you may face.

By doing some necessary investigative work upfront, you base your argument on concrete facts – not just a vague feeling that you deserve better pay. This is one of the top points on negotiation tips for women.

3. Find a good time

Once you have researched and developed your pitch for the salary you want to negotiate, you will need to carefully plan your approach. Factors such as your performance, your company’s performance, and the external job market will influence how and when to approach your manager to discuss the salary.

Some times are better than others. For example, you might want to have a salary discussion after you’ve just started a big project, learned a new skill, or suspect your colleagues are earning more.

4. Make a powerful presentation

If negotiating your salary is uncomfortable, spend some time developing and practicing a presentation until you feel good. You can review it with a trusted friend or colleague, or register yourself to see where you need to make adjustments.

As you develop a compelling presentation, be sure to focus on the following areas:

Don’t apologize: Instead of saying, “I’m sorry to ask at a time like this” or “I know the budget might be tight,” clearly define what you want to achieve and make your case.

Use positive phrases: Instead of using phrases like, “I think” and “maybe”, take a more assertive tone and use “I suggest” or “include my goals.”

Also Read: Massive Graduate Sales Recruitment at Mikado

Exude confidence: Whether you’re negotiating over the phone or in person, speak clearly and at a pace that isn’t too fast for the listener. If you are talking to your manager in person, use eye contact and make your presentation without nerve filler words like “umm” and “like.”

5. Use silence as a strategic tool

While it may be normal to seek quick salary negotiations, you increase your chances of finding a more appropriate solution when you don’t pay for a “yes” right away. In negotiation, some people need more time than others to process information, so allowing a pause (even inconvenient) can be one of your best negotiation tools.

Instead of trying to fill the silence in the conversation, wait for the other person to speak. When given time to formulate a response, the other person will be able to process what you said instead of saying the first thing that springs to mind. Allowing silence also prevents you from being overly explained and appearing defensive.

6. Listen actively

Listening is a required component of any successful negotiation, but it is much more than shaking your head or smiling in agreement.

To make sure you hear what the other person is saying, use active listening to demonstrate that you understand. Demonstrating that you have strong listening skills helps show why you deserve a higher salary and that you are ready for bigger challenges at work.

You can use active listening by taking the following actions:

• Do not interrupt
• Use clarifying phrases and ask questions to demonstrate your understanding
• Refrain from judging until the other person has made clear their point

7. Don’t give up

Not every negotiation will yield the desired result, so it is important not to give up. The next opportunity to negotiate your pay could come in your current position – or the next one.

In the meantime, take the time to practice and improve your negotiation skills. You can start small and negotiate in low-risk locations, such as repurchasing, requesting a discount on a cable bill, or requesting an upgrade at a hotel.

There are also resources available to help, many of which are specifically designed for women. Some examples include:

Lean In, who provides several videos and discussion guides to help women improve their negotiation skills.

Get this raise, which provides tools to analyze your salary and request a raise.

The Female Art of Negotiation, featuring a podcast series covering a range of negotiation scenarios.

Negotiation is an art that you can improve and ultimately master. For a successful salary negotiation, you’ll need to prepare, make a strong offer, and focus the conversation on finding the perfect solution.

Negotiation is give and take, and both sides rarely get everything they want. But by applying these tips, you can get closer to your goal of aligning your earnings with your value.