Salary Negotiation Tips For Women: 10 Expert Tactics
Why Asking Matters and How To Do It The Right Way
"How much do you want?" can feel like a trick question when you're negotiating salary.
The first time I was asked this question, I had no idea what to say. I just knew that what I'd been offered wasn't enough. Having relocated from the U.S. to Argentina just a month prior, I was still learning the market and was worried about having my offer rescinded if I asked for too much. Knowledge is power in a negotiation, and in my ignorance of local norms and rates, I found myself feeling powerless and frustrated.
The hiring manager seized on my silence and asked me another question: "What's the minimum you'd accept?" Not knowing how to stall for more time, I blurted out my actual minimum. He flashed a toothy grin and said, "Done." I knew then and there that I'd gone way too low - his smile said it all.
I broke two cardinal rules of negotiation that day:
1) Think about the number you want and ask for more
2) Know your value in the market
I went home kicking myself for flubbing the negotiation, but in spite of my mistakes, I did have one thing to be proud of: at least I'd asked.
Research has shown that women are much less likely to negotiate salary than men; an oft-cited study of MBA grads from Carnegie Mellon showed that only 7% percent of women negotiated their initial salary offers as compared to 57% percent of men.
So why don't women negotiate?
- We (erroneously) believe that what we've been offered is what we deserve - Economist and negotiation expert Linda Babcock said it best, "Women tend to assume that they will be recognized and rewarded for working hard and doing a good job. Unlike men, they haven't been taught that they can ask for more."
- We've been socialized to be agreeable, and we face backlash when we aren't - As women, we're taught to go with the flow and please others. And for the first half of our lives -- in school and at home -- we're rewarded for this with good grades and encouraging words from our parents and teachers. But patting us on the back for being agreeable doesn't do us any favors once we enter the workplace, where the results-oriented culture means that if you don't speak up for yourself and make your achievements known, then no one else will. Unfortunately, when we do speak up for ourselves, we're often penalized for being too assertive.
Why is this a problem?
- Experts believe that women's reluctance to ask for more, and the double bind they face when they do, are major contributors to the persistence of the gender pay gap.
- Future salaries are largely dependent upon previous earnings, so what may only be a few thousand dollars annually when you're starting out quickly compounds with each raise, salary-based bonus, or job switch (when you're often asked how much you were making). Some experts estimate that women can lose as much as 1.5 million dollars over the course of their careers as a result of not asking.
Try these expert tactics to make sure you come out on top
Although gender stereotypes can contribute to our reluctance to negotiate, there's no reason to let them prevent us from going to the table.
At PowerToFly, we sat down with lawyer and negotiation expert Nicole Page to get the inside scoop on how women can gain the confidence to be their own advocates and come out on top of any negotiation. She's successfully helped hundreds of clients get better offers and was kind enough to share her wisdom.
Keep these tips handy so that the next time you're considering a job offer, you don't make the same mistakes I did.
If you're a PowerToFly VIP and you're still hungry for even more negotiation skills, be sure to check out our full interview with Nicole here, as well as our more recent lunch and learn with another lawyer and negotiation pro, Anica John!
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If you are a New York based tech professional and you'd like to attend this event, please email your name and LinkedIn URL to email@example.com.
Whether you are a software engineer, fitness enthusiast or both, you won't want to miss PowerToFly's evening of product demos and networking with the women tech leaders and allies at Peloton.
Founded in 2012, Peloton brought top talent together in its Silicon Alley headquarters to create a new concept in fitness. In their words, "We loved cycling but had a hard time finding a workout that consistently fit our schedules, and our at-home workouts never felt quite up to par. So, we set out to create a world-class indoor cycling studio experience on your time, and in the comfort of your own home."
This event is your chance to hear directly from the women tech leaders and allies who make their revolutionary products like the Peloton Bike, Peloton Tread and Peloton App possible. We'll be devoting a large portion of the event to taking your questions and I know the Peloton team wants to hear from you!
The unique evening will take place on Wednesday, February 12th from 6pm to 8:30pm at 125 W 25th Street.