Salary negotiation is a crucial part of the hiring process, as it is important to ensure you earn what you're worth. However, discrepancies with pay exist. In fact, a 2015 analysis by the Pew Research Center estimates that women still only earn 83 percent of what men are earning. Learn how to negotiate to help close the wage gap with these tips.
1. Research Salaries
Enter into salary negotiations prepared. When researching companies prior to a job interview, spend ample time researching salaries within the industry. Evaluate the firm's size, location and revenue base while also assessing how your skills, experience and talent fulfill the requirements of the position. Candidates who know their worth and can back up figures with research not only show confidence in their skills but also display their knowledge of fair compensation packages to help eliminate the risk of perpetuating gaps in pay.
2. Keep the Conversation Professional
Even though it may seem offensive to you that women are typically paid less than men, avoid taking it personally during salary negotiations. Remember that determining your salary position is not about winning or losing. It's about your future both personally and professionally. Instead of entering the conversation with high emotions, focus on the facts. Refer to your research and remain professional throughout the process, even if you decide the position is not right for you based on the salary offer. If you find yourself getting angry or emotional, halt the negotiations until you are calm and able to remain collected.
3. Focus on Your Contributions
Your salary should be based on your value and performance. During a salary negotiation meeting, highlight how you can impact the company. Refer to your experience in past positions, and offer specific examples of how you increased revenue, enhanced the client base, improved productivity or cultivated a company culture that was cohesive. Show that you are worth a higher salary when selling your skills and talents to hiring managers to help close the wage gap and force firms to look past gender.
4. Fake It
If your confidence is waning and you are nervous, fake a confident, positive attitude to ensure a successful salary negotiation. Do not make your insecurities or doubts about your performance visible during a job interview or the hiring process. Confidence is one of the most important elements of negotiation, and if you show your weaknesses, it could negatively impact your salary offer. Even if just for a moment, let your guard down and fake it until your boss agrees to paying the salary you deserve.
Help to deter firms from reducing your pay just because you are a female. Show your worth during salary negotiations. Remain professional and confident throughout the negotiation process, and do your research so you are prepared to demand a salary that is fair and representative of your credentials.
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