We are often given tips and advice on how to ask for a pay rise, but it’s just as important to know how NOT to negotiate a higher salary in 2023 if you’re a woman.ย Negotiating a higher salary is a crucial part of any career, but it can be particularly difficult in todayโs competitive market.
Even more so if you are a woman, as research suggests that women are more reluctant to ask and less effective when they do ask for a pay rise.
Personal finance experts MoneyNerd spoke to a range of HR inclusion experts to reveal how female employees should not be negotiating a higher salary.
1. Do NOT be afraid to ask your employer for transparency on pay data
Now comes the difficult part โ negotiation! While this might be a nerve-wracking moment, itโs important to beย confident and assertive while also remaining respectful and professional.
Amy Spurling, Founder & CEO at work perks software companyย ComptHQ comments โthere are ways to negotiate without feeling confrontational (i.e. โI want more, so hereโs what I want you to give meโ).
Approach this byย asking a company what their compensation range is, provide justification for where you land and what would push you into a higher bracket, and then confirm that everyone at your level is paid the same.โ
When it comes to your company being transparent about pay data, Spurling also comments โIt is totally okay to ask your company to explain its compensation philosophy upfront.ย Ask them for the data set upon which they base roles, and ask them for transparency.
If a company is unwilling to give that to you, that is a good indicator they have a pay gap internally and should be yourย warning flag to walk away.โ
2. Do NOT be afraid to leverage job offers in order to negotiate better compensation
Be willing to negotiate and compromise with your employer, but also be willing to walk away if your needs arenโt met.
Scott Nelson, Finance Expert at MoneyNerd comments, โYour employer may be willing to compromise more if you present other job opportunities youโve been presented with. If you have received offers from other companies,ย use those offers as leverage to negotiate better compensation from your current employer.
Itโs important to be careful not to use this as a threat against your employer, instead as an opportunity to continue negotiations and come to mutually beneficial terms.โ
3. Do NOT come unprepared with specific examples that illustrate your contributions
Scott Nelson, Finance Expert atย MoneyNerdย comments โPrepare to prove how your contributions have had a positive impact on the company, and also how you can provide more value in the future.โ
Sean Butcher, People Development & Culture Consultant fromย Reflect Consultancyย saysย โRe-familiarise yourself with your job description and go through this responsibility by responsibility and competency by competency,ย grading yourself against each of these.
Keep records of manager feedbackย during any one-to-ones and performance reviews that youโve had, and incorporate this within your evidence.โ
Mo Kanjilal, Employee Engagement expert at inclusion consultancyย Watch This Spaceย comments โDo the preparation and make notes on your achievementsโฆ do some research to understand what people in comparable roles are paid.โ
4. Do NOT forget to come prepared with industry knowledge
Mo Kanjilal, Employee Engagement expert at Watch This Space comments, โ66% of people find work conversations challengingย and one of the top subjects people struggle with is their salary.
Have an open conversation with the right person who can make a decision (on your pay) and keep your pace and tone calm.ย Be confident in your own worth.โ
We also have an excellent article on how to act your wage.
