Tips for Women in Negotiation

Tips for Women in Negotiation

Tips for Women in Negotiation

Tips for Women in Negotiation

Rather than becoming a victim of the gender wage gap, you should fight for the compensation you deserve.

Men generally receive more than women in almost every sector, as well as in a variety of regions and jobs. According to the United States Census Bureau, women earned 81.6 cents for every dollar earned by males in the United States during 2018.

 

 

Pay history bans — regulations that prohibit employers from questioning applicants about their salary history — have been implemented in 19 states and 21 local municipalities to help close the wage gap between men and women. Employers are less likely to give deflated salaries when they cannot base pay on the candidate’s current or previous earnings. This is the premise of the salary cap.

Although salary history prohibitions help to reduce the pay gap between men and women, regulation is simply one potential solution; the manner in which men and women bargain also adds to the income disparity between them. In fact, according to a Randstad survey conducted in 2020, 60% of women had never negotiated their wages, compared to just 48% of males.

 

 

 

While some women may not bargain sufficiently or at all, others just do not have the same success when it comes to negotiating a job offer or a raise in income as their male colleagues.

Negotiating has a “social cost,” which may explain why this is the case. The point is that there are instances when female negotiators do not succeed in their negotiations because they are aware of the potential career-limiting consequences of doing so, such as a deteriorated relationship with their supervisor or other types of retribution.

 

 

 

Woman may effectively bargain without being penalized, however, according to the facts of life. It is possible to get more equal compensation by approaching negotiations in a different manner and by mastering a few basic skills. To assist you in earning the income you deserve, here are seven wage negotiating tips:

 

Recognize the ramifications of refusing to bargain

The typical employee could make up to 13 percent more per year than their current yearly base income, according to a survey conducted by Glassdoor. You might be leaving even more money on the table if you don’t negotiate because of the gender pay gap, which is an issue to consider.

It is also true that the cost of not bargaining accumulates over time. Indeed, according to a ZipRecruiter report, negotiating a beginning pay of $45,000 rather than $40,000 results in an increase in lifetime earnings of more than $750,000 over a 45-year professional career span. It is possible that you may lose out on significant profits in the future because you will not ask for what you are worth now.

2. Make sure you’re well-equipped.

When preparing for a pay negotiation, it’s critical to conduct your study. A pleasant result is more likely to occur if you are well-prepared for it. Sites such as the ones listed below may assist you in determining a competitive wage range for your position:

Salary.com

Payscale.com

Glassdoor

National Center for Occupational Safety and Health

In addition to reading sector standards online, speaking with a mentor or members of your network may help you better grasp salary precedent as well as the negotiating issues you may face.

In advance of making your case, you may establish a solid foundation of specific facts, rather than a nebulous impression that you are entitled to more compensation.

Decide on the most appropriate moment.

Following your study and developing a rough concept of the compensation you want to negotiate, you’ll need to carefully consider how you’ll go about presenting your case to management. When it comes to pay negotiations, factors such as your own performance, the success of your firm, and the state of the external job market will all influence how and when you approach your boss.

When things go well, they go well for a while. To approach a pay talk after you’ve recently completed a large project successfully, after you’ve mastered a new skill, or after you feel your colleagues are making more, consider the following scenarios:

Prepare an impactful pitch.

If you’re nervous about negotiating your pay, spend some time preparing a pitch and rehearsing it until you’re happy with the results.. Check it out with a trusted friend or colleague, or videotape yourself to see if there are any changes that need be made.

 

 

Make sure to concentrate on the following elements as you build a convincing pitch:

Don’t apologize: Instead of saying things like “I’m sorry to ask at this time,” or “I understand the money may be limited,” clearly express what you want to achieve and why you want it done.

Take a more authoritative tone: Instead of using terms such as “I believe” and “maybe,” adopt a more confident demeanor and say things like “I propose” or “My objectives include”

If you are negotiating over the phone or in person, exude confidence by speaking clearly and at a speed that is comfortable for the other person to hear you. Make eye contact with your boss while you’re speaking to him or her in person, and avoid using anxious filler words such as “uh” and “like” throughout your presentation.

 

 

Silence may be used to your advantage as a strategy.

In spite of the fact that it may seem natural to push for a rapid “yes,” by not insisting on a quick “yes,” you boost your chances of achieving a more favorable outcome. Allowing for pauses (even unpleasant ones) during a negotiation may be one of your most effective negotiating tactics since some individuals take more time than others to digest information.

 

 

Avoid attempting to fill silence in a discussion by just waiting for the other person to speak up first. Given enough time to consider your words, the other person will be able to respond thoughtfully rather than responding with the first thought that comes to mind. Furthermore, allowing quiet keeps you from over-explaining and coming out as combative.

 

Pay attention to what’s being spoken

It is essential in every successful negotiation that you listen attentively. But listening involves much more than just nodding your head or smiling in agreement.

Active listening is a technique for ensuring that you hear what the other person is saying and that you comprehend what they are saying. Demonstrating that you have excellent listening skills also helps to demonstrate why you are deserving of a better income and that you are prepared to take on more difficult tasks at work.

Active listening may be achieved by the following actions:

Stay out of my way!

To show your comprehension, make clarifying remarks and ask questions.

Wait until the other person has completed stating their case before passing judgment on them.

 

Don’t give up on your dreams.

You should never give up while negotiating since not every transaction will result in your desired goal. Depending on your current employment — or the one that follows it — your next pay negotiation chance might present itself.

In the meanwhile, devote some time to honing and refining your negotiating techniques. If you want to start small and bargain in low-risk situations, such as returning an item, asking for a reduction on your cable bill, or seeking an upgrade at a hotel, here are some suggestions:

Women may benefit from a wide range of resources, many of which are geared particularly to their need. A few illustrations are as follows.

There are various videos and discussion guides available via Lean In to assist women improve their negotiating abilities.

 

 

Get That Increase is a website that offers tools to help you examine your pay and get a raise.

In addition, there is a podcast series called The Art of Feminine Negotiating, which covers a variety of negotiation situations.

A skill that can be developed and mastered over time is negotiation. Come prepared with a strong presentation and keep the discussion focused on finding the best possible option for you to have a successful pay negotiation.

Negotiation is a game of give and take, and neither party will ever obtain what they desire.. With these suggestions, you may get closer to your objective of achieving an income that is commensurate with your value.

Envision yourself achieving success.

If you go into a meeting with a negative attitude, it will be difficult to emerge victorious. In the same way that sportsmen image winning a game or crossing the finish line, you should see yourself walking into the room confidently and leaving the table content with your results. Remember that you have completed your research and rehearsed what you will say, so do not let negative energy to interfere with your efforts to be successful in the interview process.

 

 

 Conduct face-to-face negotiations.

Despite the fact that email may seem to be more convenient and less intimidating than other forms of communication, research has shown that misunderstanding is more likely to occur when communicating over email. During a research assessing the ability to detect sarcasm in emails, just 56 percent of participants were able to detect it, but they projected they would be correct around 90 percent of the time. Because women are already viewed as pushy, unpleasant, and cold in certain situations, it is best not to take any chances by bargaining via a dubious medium. When at all feasible, try to conduct your negotiations in person.

 

 

 Avoid using a range of numbers.

This is a common blunder, particularly for women who do not want to be seen as aggressive in their approach. Negotiating a wage and asking for anywhere between $80,000 and $85,000, the person on the other end of the discussion will hear the lower amount, which is less than the higher number. Your employer believes that you are willing to labor for $80,000. So what makes you think she’d pay you $85,000? Instead, utilize your research to come up with a certain number that you’re interested in learning more about it. People who cited a precise amount (for example, $84,750) were more likely to acquire what they sought, according to Columbia Business School researchers, since employers thought the applicant had done thorough market research before submitting their application.

 Make use of your natural abilities.

When you are a woman, don’t attempt to bargain like a male when you can use your own advantages instead. When it comes to relationships, standing up for their values, and investigating possibilities, women are renowned to be strong and resourceful. 

 

These are not undesirable characteristics to possess while bargaining! When women challenge their “opponent,” they normally develop a stronger bond with them and have a greater understanding of their situation than when men do. 

 

 

Dale Carnegie wrote in his best-selling book, How to Win Friends and Influence People, about the importance of encouraging others to talk about themselves in order to make them like you, as well as allowing them to do a great deal of the talking in a conversation in order to win their trust and confidence. In negotiations, these strategies are quite effective since your adversary is less inclined to approach the discussion in a negative manner and (s)he may be more willing to put some of his or her cards on the table.

 

 

Negotiate as if you were representing someone else (even if you aren’t) and don’t make concessions.

This is a logical extension of the concept of playing to your strengths. Women are often considered to be better at “representative bargaining,” which is negotiating on behalf of others. Perhaps it stems from a maternal instinct or a relationship-centric attitude, but women should take use of this trait to their benefit. Selena Rezvani, author of PUSHBACK: How Smart Women Ask– and Stand Up– for What They Want, advocates approaching a negotiation from the perspective of bargaining on behalf of all of the women in the workplace, particularly those in lower levels of management. 

 

Consider rephrasing your discussion as a negotiation for all women worldwide, or as a negotiation for your daughter, niece, friend, or other loved one. When talks are seen from this new viewpoint, it is easier to tame the sentiments of guilt or greed that sometimes follow women throughout negotiations.

 

 Do not give up!

Not every negotiation will go well or conclude in the manner in which you had intended; don’t allow one bad negotiation derail your whole career! Make use of the incident as a learning opportunity and try again. Every negotiation provides a chance to improve your negotiating abilities in preparation for the next one.

 Put in the time and effort to perfect your craft.

As much as possible, put your bargaining abilities to the test. With practice, you will become more adept at negotiating, which is not an easy task given your lack of natural negotiation abilities. In reality, it may be uncomfortable to speak about oneself; as a result, it is important to rehearse what you will say so that you can express it confidently. Negotiations should be sought out whenever feasible in order to put your talents to use on a regular basis. Experiment with several approaches to see which ones work best for your own distinctive style. It will begin to sound and feel more natural in the near future.

Never be scared to walk away from a situation.

This relates back to the concept of the BATNA proposed by Getting to Yes. Given the state of the economy, it may seem dumb to bargain over your compensation while you’re already on the job market. However, statistics reveal that 57 percent of males are still discussing their pay scales. Whether you’re negotiating a wage, a contract, or a settlement, remember that you are under no obligation to accept an offer if it does not meet your requirements or expectations.

 

 

All of these suggestions work together to make you a more effective negotiator. Some of the material was generalized and, of course, does not apply to all women everywhere; however, many of the principles may be applied to males as well, which is a good thing. Consider attending a negotiation training course or reading more of the books and/or resources mentioned in this post if you want to learn even more bargaining strategies. Good luck with your negotiations!