We’ve all heard the stat: white women make 78.6% of what men earn in similar positions. That means the homes we can afford are 20% smaller than those of our male counterparts. It means our cars have to be 20% cheaper, and vacations must be taken 20% less often. It means we have to work until April 12th (yes, 3 ½ months) each year to earn what men did in the previous year. And it’s partially our fault.
In their book, Women Don’t Ask: Negotiation and the Gender Divide, Linda Babcock and Sara Laschever dive into the gender gap. They point out that part of the reason we earn less is because of one fact: we ask for less. Take a look at these statistics from their book:
- Women negotiate 30% less than men, and when they do, they ask for up to $16,000 less.
- In a study of masters students entering the job market, male students were 8 times more likely to negotiate a higher starting salary than their female counterparts, who were more likely to take the first salary offered
- By not negotiating their starting salary, women could potentially be giving up over half a million in earnings over the course of their career
Makes you kind of sick to your stomach, doesn’t it? Me, too.
I’ll be honest here: I personally have never felt the effects of this statistic. This is somewhat because I’ve worked for great companies but also because I’ve never been afraid to ask for what I believe I deserve. And neither should you.
NEGOTIATE A RAISE
If you feel you aren’t getting paid what you’re worth and need some guidance, I’ve pulled together 5 fail proof ways to help you negotiate a raise. The statistics show it: we have to be the ones to take responsibility for our future. That includes how much money we bring home. Check each of these off your list before stepping foot into your boss’s office, and you’ll be well on your way to #ladyboss status.
DO YOUR JOB AND DO IT WELL
Rule #1: Do your f@#!’ing job and do it well. That is the bare minimum.
No one is going to throw more money at someone who can’t complete projects on time or submits sloppy work. So before you go any further towards getting a raise make sure you’re currently kicking a$$ at work. If you’re unsure whether or not you’re excelling, then you probably aren’t. (Ouch.) But if you still would like some feedback, ask your boss if there is anything lacking in your work and how he/she would like you to improve. Once you’ve mastered that, move on to step 2.
SHOW YOUR VALUE
Doing your job well is great, but you’re already getting paid to do your job. If you want to negotiate a raise, you need to go above and beyond your current responsibilities to show you’re an investment worth making.
How exactly do you do this? Well, there are a few tricks you can use to demonstrate your value, except they aren’t tricks and take a bit of hard work.
For one, you can become the resident expert in one facet of your job. Or show you’re a team player by staying late to finish a project or help a co-worker finish theirs. Maybe pitch an idea and take the lead on seeing it through, start to finish. Whatever you can do to prove that you are dedicated and valuable to the company is going to prove instrumental to seeing more cash in your bank account.
DO YOUR HOMEWORK
Before you get to negotiate a raise you should figure out how much additional income to actually pursue. I mean, how do you actually know what is reasonable for your situation?
I’ve included a few websites below to help you answer those questions. These give a good baseline for the salary range for your position within your geographic location. (Because let’s be real, a job in NYC better pay more than the same position in Indiana.) These will provide a good starting point for the amount of money you ask for.
Now, don’t be limited by what you find. If you feel you bring more value, there’s nothing wrong with asking for more (if you can prove you’re worth it).
COME WITH AMMO
The moment you walk into your boss’s office to talk about your salary, you need to have ammo in your pocket. You’re tying to warn them to the idea of a raise. Even if you are a stellar employee, you need to offer something to them in return for forking out more money for you. Here’s your arsenal:
Added Responsibilities: Say you’ve noticed your co-worker can’t manage one of her clients. Or that your boss has taken over tasks that should fall on someone else. Offering to take responsibilities off the plates of those who are overworked shows your boss that you are two things: a) willing to take on a bigger role in the company and b) a team player.
Word to the wise, though: don’t be generic. You want to come with specific examples of tasks you’ve personally noticed have fallen by the wayside. If you don’t know what those are, ask your co-workers. They’ll be more than willing to get your help on something they can’t fit into their schedule.
Take the Lead: Offer to lead a project you have proposed or one that your boss has been wanting to implement. This gives you the opportunity to prove your value. It may take a while longer to get that raise, but it also gives you time to show you can handle more responsibility. That’s what your boss really wants to see out of you before increasing your pay.
BE WILLING TO NEGOTIATE
I am heavily involved in the budget at my job, and sometimes, there just isn’t room for increased payroll. And that sucks. But it doesn’t mean that you still can’t negotiate better terms for yourself.
Try to think what would suffice (for now) in exchange for higher pay. Maybe that’s working from home on Fridays or getting 5 additional vacation days a year. See if they’ll increase the match percentage on your 401(k) or be willing to discuss a bonus plan. Maybe they’d cover your gym membership or dues to a professional organization.
Make a list of a few of these before going into your meeting so that you have a counter if they simply state that a raise is not in the cards. It will show you want to stay with the company and are willing to compromise.
Remember, for most of us, it isn’t comfortable to negotiate a raise. However, no one is going to hand us more money just because we think we’re great. If we want it, we have to go get it. Prove your value, demonstrate you are commitment, and go show the world you’re a true #ladyboss.
This post originally appeared on Britt and the Benjamins. It has been republished here with permission. Some edits have been made.
2 thoughts on “5 Fail Proof Ways to Negotiate a Raise and Get Paid What You’re Worth”
Investing in your job and yourself to show your value is one of the most effective ways to negotiate. Honestly, without putting a lot of hard work into my career early on, I likely would have been denied my request to transfer to a home office when we moved across the country.
I really like the “outside the box” ideas for negotiating too (the gym or professional memberships). These perks can really add up!
~Mrs. Adventure Rich
I think putting in hard work early pays off in so many ways. The outside the box ideas are so key too! I know i get wrapped up in the salary but there’s so much more that can matter!