Women and girls have taken care of others, unpaid, throughout all of history. Oxfam International estimates the value of that work to be $11 trillion US dollars annually with $1.5 trillion earned in the US. If you spread the $1.5 trillion over the one-hundred and nine million women over the age of eighteen in the US that equates to approximately $14k per woman per year. $14k is thirty percent of the average annual income of a woman in the US.** Said another way, women deserve an immediate average thirty percent raise to reflect their actual contributions to society.
What to do when faced with this data (I know we all know this to be the case in our daily lives) in the short-term? I suggest we put more effort in negotiating our salary at our “day-jobs.” As I’m not sure about you, buy my nine-year old doesn’t have the $14k to pay me this year!
So, let’s discuss how to get more money at work. What do the experts have to say on this combined with our experience aligned with the Four Foundations of FIERCE:
- Prepare for the negotiation – read Glassdoor reviews, ask your network what the pay range is for equivalent roles, come to the negotiation with data.
- Be prepared for discrimination and misogynistic bullshit. Negotiation is actually a good way to see what the manager, company is all about. You can still join the company if you want too but at least you’ll know a bit more about what you’re getting in to.
- Never negotiate over text, email or slack. Phone or face to face so the negotiation isn’t impacted by digital miscommunications/misinterpretations.
- Be prepared for hard questions and have your answers ready. Will you take our offer if we do XXX? Are we your top choice?
- Ask people what they make. “I am doing research for my next role and am looking to understand the compensation range for XX role.” This takes courage but is worth it.
- Ask for more money. Is the base salary negotiable? Can we discuss increasing the option allotment? Your value is being set – do not negotiate with your wallet in mind. Negotiate for what you know you are worth.
- Know what you want to make and ensure you don’t waste time on roles that are nowhere near the level of pay you deserve. Be very specific with what you want to make. If you are asked, say the exact number plus any benefits that are important to you. Do not be shy here. It is often a test to see what you’ll do – be ready.
- Consider raising your starting point 10% over what you are willing to take so you can concede during the negotiation. Want to land at $100k, ask for $110k.
- You don’t want the job. You want the offer. If the offer is not going to work no matter how much work you put into the negotiation. Start the process for a new role/new company/new opportunity elsewhere.
- There is only one YOU. YOU are FIERCE. They will be lucky to land YOU – that’s the truth. Don’t get that twisted EVER.
- This one negotiation does not define you. It is likely you won’t remember it in a year if it doesn’t go the way you want. Keep positive and focus on the future. As we always say, smash that rearview mirror.
- Critically important to frame your negotiation by spending time putting yourself in the other side’s shoes. Keep in mind the exact shoes. HR vs hiring manager…understand their objectives and how your negotiation helps them meet their professional objectives.
- Make it easy on the hiring manager to say yes. Lay out all you have done for her and the company or can do for a new role based on your experience. Save money? Made money? Improved customer experience? Quantify all of that like the queen that you are.
- What would you want to hear from someone you were interviewing for this role? Then say that!