On average, women earn 20% less than their male counterparts. Why is this? Well, there’s an automatic gender pay gap (which needs to be acknowledged and addressed!). Also, many women don’t know how to ask for the raise they deserve to earn. Many women are emotion-driven, and they allow their emotions to cloud the simple fact that they deserve to get paid what they’re worth. We, women, work hard to prove that we are just as good, if not better than the men we work with, yet when it comes time to talk about the bottom dollar, we get squeamish and generally just take what is handed to us.
This isn’t going to solve itself. We have to stand up for what we’re worth and get the money that we deserve. If you’re ready to get the raise you deserve, it’s going to take some tact, some research, and some negotiation. Here are things you can do to earn what you deserve to earn.
Don’t Be Afraid To Ask
Take the emotion out of it. Fear is the number one reason people don’t ask for a raise or negotiate salary. Often companies expect you to negotiate and ask for a raise. If you aren’t, you’re missing out on money that you SHOULD be earning! Unfortunately, some companies don’t give out raises as an annual practice. If you work for one of those companies, take the initiative and talk to your superior. There are three potential outcomes when you ask for more money. They could say yes, not now, or no. That’s it. Those are the only options. Instead of being afraid, take a bold step. Ask yourself, “What is there to be afraid of?” The worst that could happen is that they say no. This keeps everything in perspective and helps take the pressure off of asking.
Do Research on Salary Averages
When asking for a raise, you have to do your research! Take time to find out what the industry standards are where you live. What does someone in your position with your experience make on average? If you’re accepting a new position and advancing in your career, what is a reasonable salary for that position? One crucial factor in asking for a raise is being realistic. You don’t want to overshoot yourself. You don’t want to undershoot yourself either. Making sure that you know what is appropriate for where you live and for your education and experience will help you be successful in getting that raise.
Compile a List Of Your Accomplishments
You want to show how you’ve added value to your company and your role. What have you done that has improved a process and saved the company time and money? Share times that you were given a task and how you achieved stellar results. Think about ways that you took on more responsibilities. Showcase the best of what you’ve done. If you’ve received positive feedback from your superiors or coworkers, share that too. Managers want to see that you are worth the raise and that you aren’t just fishing for more money. When you ask for a raise, focus on why you deserve it and not why you need it. Again, take the emotion out of it. This is a business transaction. You are exchanging your skills and services. If you are amazing at what you do, make a case for why you deserve to earn what you’re worth.
Practice Your Pitch and Ask For The Raise
It becomes so much easier to have these conversations when you’ve rehearsed what you’re going to say ahead of time. Practice your pitch in the mirror and with friends and family. Anticipate any questions or potential rebuttals you may face and come up with answers. Your pitch should be like any other career-advancing conversation that you need to have with your supervisor. It should be straightforward and confident. Don’t beat around the bush. Be clear about what you want and why you deserve it. The more you practice your pitch, the more confident that you’ll be when you make your request. Make sure that you end your pitch with a call to action from your boss. Don’t let it fizzle out by just patting yourself on the back about all your accomplishments. Let them know that you want to earn what you’re worth.
Asking for a raise doesn’t have to be hard or scary. If you go in having done your research and knowing what you’ve brought and will continue to bring to the table, you can ask for what you deserve and actually get it!
Want to get more money strategies? Meet me at The Empowerment Social.