At PowerToFly we frequently encounter women's “confidence gaps", especially when we ask a talent to state her desired monthly rate or yearly salary.
Here are some tips for overcoming that gap so you can receive the pay you deserve.
1. Find out the standard rates for your industry.
A good place to start with salary calculations is to determine what people who do your job are making. You can use sites like Glassdoor, Salary, PayScale, and JobStar to find average industry rates. Keep in mind that information is location specific. Salaries in New York City, for example, tend to be higher because the cost of living is much higher.2.
2. How much do you need?
Calculate your expenses, taking into account your situation and your personal needs. Are you single or supporting a family? Do you live in an expensive area or share rent costs with family members? How much do you need to live (and save) each month?
3. Consider your skills and experience.
What do you bring to the table? Do you have an advanced degree and 10 years of experience, or are you just starting out? You can ask for more if you're ready to step into a leadership position. If you're more junior with a lot to learn, consider the fact that you're earning experience as well as a salary.
4. Don't be afraid to negotiate!
Negotiation is a normal part of the hiring process and employers respect you for it, if done correctly. As Elizabeth Plank explains, "As women, we're taught from a very young age to please and make others happy. But, the thing with negotiation is that if you're doing it right, it actually shouldn't be comfortable for any of the parties involved...My best advice for women is to embrace the awkwardness of negotiation."
Just remember that you're not fighting a battle, you are finding a compromise that works for both parties and leads to a healthy, long-term working relationship.
5. Respect yourself and ask for what you're worth.
Many women fear that asking for too much may ruin their prospects, but companies want confident employees who respect themselves. A woman who can't negotiate a good rate for herself probably can't do the same thing for the company! A good employer understands that.
6. Leave Room For Negotiation!
If you want to make at least $55,000 annually, leave room to meet in the middle by asking for $60,000.
So, have you created a profile on PowerToFly yet? If not, you should. It’s time to elevate your value — get noticed and interviewed by some of the best hiring managers on the planet.