On 1/9/18, Holly Czuba shared some valuable information regarding Negotiation Strategies. The presentation was followed by conversation that allowed members to break into groups and “workshop” their own negotiation goals.
Negotiation Facts:
- Failing to Negotiate Can Cost $1,000,000 Over Your Lifetime – Not negotiating out of the gate adds up (imagine in interviews where you’ve been asked a salary history and realize that most men ARE negotiating)
- There is a Wage Gap. – When correcting for skill set, education, etc across industries – men make more money than women. The wage gap effects different races/ethnicities more significantly
- Women tend to Negotiate LESS than Men, or at Minimum, are Less Successful
- How we are raised/language used
- Unintentional bias
- Limiting beliefs
- Negotiating is TRICKIER for Women than Men
- Women are 25% less successful when asking for raises
- Unintentional bias and perception are a factor (bossy/pushy)
- Women can be penalize for asking, in ways that men are not (ie – if we ask incorrectly…)
Considerations
Keep the following in the back of your head as you start planning your next negotiation.
- Benefits include more than just your SALARY! You may have an ability to negotiate for the following:
- Health, Vision, Dental
- 401K, 401K Matching, Company Stock or Buy-In Options
- Flexible Work Schedule and Locations/Work from Home, Ability to Pick Kids Up
- Vacation and PTO Time
- Prime Parking Spot
- Moving Cost Coverage
- Bonuses, Commissions, (Sign-On, Quarterly, Goal Based)
- Local Gym Membership, Association Fees, Tuition Reimbursement, Certification Reimbursement
- Tons of ideas here in this Negotiation Criteria Template from Michelle Braun of SuperStar Careers.
- Negotiation is all about problem solving, it does not need to be adversarial or uncomfortable
- How can I get there? I make sure to include in every interview, at any company ever, my long term career goals. Typically this includes something like: taking on additional responsibilities, taking on challenges, developing my management skills, growing the company, having structured reviews and pay raises. I also like to ask what the hiring managers goals are. And then I ask them how I can get there. This allows them to elaborate on their goals, gives me a chance to reiterate any characteristics I have that will MEET their goals. Gives me good notes to pull from in every review I have at the company.
Assessment
Before entering any negotiating, make sure you have a clear idea of what you want to get out of the conversation. Know exactly when staying where you are makes more sense. You need to know when you would leave the offer on the table.
Know Your Worth
This is one of the most difficult things when you start negotiating. Boy grow up being told they are smart, strong, funny, etc – From a very young age they are comfortable in their own ego and tell everyone who asks, “I am smart, strong, funny.” Girls are not raise to recognize their own strengths.
- Get a Bullet List: Going into any job, you need to know exactly what you are going to be measured on. If that isn’t a question you asked in the interview (wink wink, cough cough) – ask your manager now. They should be able to give you a bullet list. Keep this list on file somewhere.
- Tally Up! Every few weeks to one month, make sure you are taking a few minutes to detail your day-to-day projects. Grab NUMBERS! As many numbers as you can. Specifically, you want to cite numbers that correlate to the bullet list you have. For a marketing professional like myself, this can be anything from increasing web traffic, to increasing sales leads. For someone who has a difficult time grabbing numbers, it’s possible your job responsibilities primarily require soft skills. Here are some articles to help you articulate your soft skills:
- Do Your Research: Check sites like Glassdoor and Salary.com to get an idea of what your experience, job title, geography say about what you should be paid. You’ll likely come up with a large range, and in your interview you can use a portion of that range when you say “Well, I’ve done my research, and a job with this title and responsibilities generally has a pay range of x to y. I am looking to land in that range”. SuperStar Careers also has a wealth of resources to help you figure out your worth.
If you’re tallying all along, and matching your efforts to what you are being measured on, you’re in good shape. The next step is to marry that to your boss’s goals and/or the company goals.
Know Their Goals
This is another line item that you should be asking in your interview, but if you haven’t, have a casual conversation with your boss. Most often in a business setting, the goal is increased sales, revenue, profit, etc. But, each company/organization is different. For non-profits, it’s probably acquiring donations or running a successful fundraiser.
When you know you’r boss’s goals, you can tailor your work efforts towards them – giving you leverage (once you make a significant dent) to show value to the company.
Practice
Practice, practice, practice. Ask multiple people to roll play this conversation with you. AND, seek out ways to practice negotiating in your daily life, whether that be with your husband, roommate, child, co-worker or someone at the flea market.
Ask
When asking, as a woman, make sure you are drawing direct correlation between the company’s goals, your bosses goals and your successes and work efforts. Women are penalized (via unintentional bias) when they appear pushy or demanding. They are penalized in ways that men are not.
The ask is when I like to re-iterate items I bring up in the interview or in yearly reviews. I remind my boss why I was hired and how I am exceeding expectations. I need to demonstrate I am a high performer and that I have taken on greater responsibilities.
Resources:
For those who attended our Negotiation Workshop on 1/9/2018, here is a link to the presentation.
READING
- 4 Tips to Negotiating Salary & Benefits https://www.aauw.org/2017/07/19/negotiating-salary-and-benefits/
- AAUW Salary https://salary.aauw.org/
- Lean In Negotiation https://leanin.org/education/negotiation/
- Lean In Equal Pay Data https://leanin.org/equalpay/data
- Lean In Tips for Managers https://leanin.org/tips/managers
- Pay Gap by State – AAUW https://www.aauw.org/resource/gender-pay-gap-by-state-and-congressional-district/
SALARY CALCULATORS
- Glassdoor https://www.glassdoor.com
- Salary https://www.salary.com/
- What are You Worth? http://www.resumesforaricherlife.com/negotiate-this-what-are-you-worth/
VIDEO
- Margaret Neale – Structure of a Negotiation: https://www.youtube.com/watch?v=MXFpOWDAhvM
- Negotiation Tactics http://www.kellogg.northwestern.edu/news_articles/2014/08012014-negotiation-tactics-101.aspx
- Closing the Gap https://youtu.be/EzUE_KQa0wQ
- Negotiate the Job You Want: https://www.youtube.com/watch?v=km2Hd_xgo9Q