Money is such a taboo topic to speak about, but it’s become more important for women today to think about this topic more thoroughly when it comes to earning what they are worth. According to today’s statistics women comprise of 47 percent of the United States work force, with 73 percent of women holding full time employment. That’s not a alarming number considering the change of social responsibility in today’s decade. (With the decision of many women to hold off on marriage, and pursue their career aspirations instead.) So if women are making such strides in business, technology and many other fields what is such the big deal? According to Women’s Bureau ( WB ) ” The medium weekly earnings of women who were full time wage and salary workers were $669, or 81 percent of men’s $824.” There might be a bigger reason why there is such a difference in wage variance, women don’t ask!
Personally, from my experience I feel that asking is never a bad thing, especially if your talents will prove to your employer that you are totally worth it. Being vocal about your work value is very important and when you understand what you bring to the table, you’re better equip to get the number you are asking for. To better understand how it works, here is a breakdown of it’s importance for women to be a better negotiator when it comes to money.
Women Don’t Negotiate
Okay, we get it , you’re a boss! Your talent speaks of hard work ethic and professionalism ,but you’re not getting paid for what you’re worth. Since when are you so timid? The number one issue is that women tend to negotiate less or not even at all! Shocker? Not really, according to Inc.com. ” Women were only willing to negotiate when the employer specifically indicated: The position pays $17.60 per hour. But the applicant can negotiate a higher wage. Women are likely to discuss their pay rate over email than they were in interpersonal settings like interviews.” When it comes to negotiations, women should go into a offer with a range they are willing to accept. A range that will leave you comfortable, and equate to what you feel you deserve based off your talents. It never hurts to ask ladies, but the key is to not be demanding unless you’re willing to walk away from the offer altogether.
Don’t Accept the First Offer Salary
The employer loved you, and they want you to jump on board. They extend you their official offer and you’re elated until you see the figure jumping off the page. It’s pretty good, but are you leaving money on the table? More likely yes! It’s important for you to have a counteroffer ready, which can include an assortment of compensation increases. Bonuses, stock options and well maybe another bump in a few grand if you ask. This is a big mistake that women make when it comes to negotiating salaries. Make sure you’re weighing all your options on the playing field before you forfeit the game.
Women Take Negotiation Personally
Women tend to shy away from bold behavior because it’s what society has taught them. It comes off as aggressive, impersonal or many are afraid it will come off as rude. See the issue? Due to this fear, many women start off in a bigger hole than their male counterparts due to issues of not asking for what they want upfront. What’s most important is that women need to focus on what they are offering their employer, not what the position will do for them. You’re indeed an intellectual asset to the organization and any employer should be elated to have you on their team.
Negotiation is a large part of business and life in general, and if women continue to develop this type of skill, many will also become a much better leader in the process. Believing in your work and your skills starts first, and then the money will come when you ask of it!
Interested in learning more about how to mold your negotiation skills. Click here.