By Nikki Kallio
Whether you’re interviewing for a new position or are prepping for your annual review, your compensation is likely top of mind. Are you ready to ask for the salary you deserve?
This is important since women are still earning less than 84% of what men do, according to the U.S. Bureau of Labor Statistics. Additionally, a Hewlett Packard report found that women tend not to apply for a role unless they meet all of the desired qualifications — whereas men will apply if they meet about 60% of them.
“I think we are stuck with that idea of wanting to be humble, wanting to be nice, questioning ourselves … about our own skills and not being super confident,” says Jennifer Winding, founder and executive search consultant for Tapestry Talent. “And I think men are really better at ‘fake it ‘til you make it.’ I think that women have to step up and say, ‘Yes, I’ve never done this before — but I could.’”
Winding offers a few tips that can help when you’re negotiating a salary for a new job or the job you already have:
- Research salary ranges first. “Most organizations do post pay ranges not only for a new hire, but also for a promotion, especially in bigger organizations where you have different pay grades,” Winding says.
- Be honest about the number that feels right. “There’s a balance of two things — there’s a skills and experience side — what do I bring to the table to justify asking for [this salary]?” There’s also an emotional component: What you feel you’re worth. “You shouldn’t even be applying for jobs if the salary isn’t in that range of what makes you feel good,” Winding says. “Look for the jobs that [pay] within that range, go for that and don’t settle for less, because usually people are unhappy if they do.”
- Ask for what else you want. Non-monetary perks are becoming more important, especially as millennials are moving into executive roles, Winding says. You can ask for benefits like more vacation time or more time working at home versus a higher salary if that’s what’s most important to you.
- Make a list. Winding encourages women to look back on their career and write down all the things they’ve done that can justify a salary bump — and be specific. It means going beyond being responsible for a team of five people and a budget of $3 million, Winding says. “That’s great, but that’s just the responsibility you had — what you did with that responsibility is more valuable,” Winding says. “… Talk about what you can do, what you have done and remind yourself of that. Be bold in sharing that information.”
These tips hold true whether you’re accepting a new role or seeking a promotion or pay bump, Winding says.
“[First], figure out what that emotional number is for you, and [second], be really honest about what you’ve done that makes you feel like you can justify [the salary] — and be able to share those things.”
Winding encourages women to have a document on their computer where they keep track of their successes. When it’s time to negotiate, print out those bullet points, keep it in front of you and work them into the conversation, she says.
“It helps you feel ready to grow your career and validate it to an employer when you’re able to remind yourself of what your successes have been.”
