You’ve busted your tail, worked hard, completed all the projects and more assigned to you, and you’ve made the company money—lots of money. So why is it so hard to ask for a well deserved raise and/or your next promotion?
Over 20% of women don’t negotiate for salary increases. A recent study by UC Davis Advance reported: “Women are more pessimistic about how much is available when they do negotiate and so they typically ask for and get less—on average, 30 percent less than men.”
Furthermore, Salary.com published a survey that revealed that while 46% of men claim they always negotiate salary following a job offer, only 30% of women report doing the same.
5 Tips for Negotiating a Higher Salary and/or Promotion
It’s past time women feel confident to ask for what they deserve, and we can get you there. Here are five things that can help you negotiate for a higher salary.
1. Know Your Value
If you don’t value yourself and what you bring to the table, how will anyone else? It’s extremely important you know the going rate for your position in your industry and where you’re located.
Make sure you know the value of what you bring to the table—and don’t undercharge yourself. Negotiate for the things that you didn’t realize you can negotiate for such as vacation time and benefits. Salary is a given, but do you know all the other things you can negotiate? These include flexible hours, vacation time, remote work, and even a signing bonus.
2. Be Confident About Your Ask Before You Bring It to the Table
Practice with friends, and talk to headhunters and recruiters. The next time you get a call or message from a recruiter, take it! Discuss the position and pay. You may not get an exact number, but you should walk away with a pay range. Focus and be confident before you even start negotiating so you’re prepared for every objection.
3. Be Organized—Including Your Thoughts
Walking into any meeting—let alone when asking for a promotion or raise—without being organized and in control is guaranteed to be your downfall. Being organized and prepared will help you present yourself with confidence at the negotiating table.
4. Don’t Say Anything After You Make Your Ask—Stay Silent
The saying goes that the first one to speak after making the ask loses the battle.
5. Don’t Start Too Late
When it comes to negotiation, the biggest mistake is starting too late in the process. Most people think the right time to start negotiating is when it’s time to talk about salary or ask for a promotion.
You should start your negotiation process six months before by scheduling regular calls and meetings with your boss if you are an employee looking for a raise or promotion. This allows you to set a cadence with goals that you can track and to come to the meeting confident you can justify what you’re asking for.
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