Ladies, You Deserve a Raise. Here's How to Ask for One

Although the gender wage gap is getting smaller, women still earn about 77 cents for every dollar that men earn. Part of the reason for the discrepancy could be attributed to the failure of women to enter negotiations upon receiving a job offer. Not only is negotiating salary extremely intimidating, but often times women underestimate their value in the workplace and neglect to start discussions before accepting a position. Additionally, fear of retribution or withdrawal of an offer can turn reluctance into avoidance. But if you adequately prepare yourself for the process, you can avoid leaving money on the table when securing a new job. Here are five things you can do to prepare yourself for salary negotiation: 1. Do your research. Information regarding average salaries for a variety of positions is readily available on the Internet. It’s important to know the industry standard so you can determine if what you’re asking is reasonable for the job and location. Even if the listed average is lower than your salary expectations, don’t use this as justification not to ask—there are exceptions to every rule. If you have the experience to back it up, a higher starting wage is not out of the question. 2. Be confident and know your value. Know your resume inside and out so that you can make a case for why you deserve more money. Focus on applicable work experience, education and special skills or projects that give you an advantage. Study the job description and highlight the areas of your resume which display the value that you add to the company. Show certainty in your ability and do not be afraid of being assertive—which does not always come naturally to women. Sometimes that small display of boldness is just what it takes to inspire confidence from the hiring manager. 3. Be honest. While some women lack the confidence to seek the pay they deserve, others may value their past experience much more highly than the potential employer does. Try to take an honest look at your qualifications and put yourself in the shoes of the employer when determining how much you are worth. Evaluate the state of the economy and job market demand before assuming they will pay more if they can hire someone equally talented for less money. It’s important to be self aware and make the decision to negotiate based on reality, not wishful thinking. 4. Think outside the box. Today, work/life balance can be of great importance to many people. Take into consideration the benefits and vacation package that is offered and evaluate the non-monetary worth it has for your situation in life. For example, with the rising cost of healthcare coverage, a company that offers excellent health benefits with low premiums might be a huge draw for someone needing coverage for her entire family. If the employer is unwilling to budge on salary, be prepared with alternative options to suggest. Things like additional vacation time, bonuses or performance pay can be negotiated up front but are much harder to acquire once you’ve accepted the job. 5. Be ready for the answer. There’s a chance they won’t reconsider their offer. Be prepared for how you will respond and make up your mind before entering discussions. The employer will sense if you are indecisive and may use that to talk you out of your requirements. After taking all things into consideration, determine your bottom line and stick to it. Be willing to walk away if the offer does not meet or exceed your bare minimum. When the right job comes along, it will be the perfect match of meeting your financial needs and an employer that recognizes what you contribute to the company.