5 Tips to Get Paid What You’re Worth
It’s hardly a secret that women are paid less than their male counterparts. The wage gap is painfully real! According to the US Census Bureau, “Women in the United States earned 30% less than men and that pay gap increased with age.” Black and Hispanic women face the biggest gap.
Quite frankly, I think it stinks.
That’s why I have dedicated my business to lifting women up. I help them get ahead in their careers and net worth by owning their power and making the right professional moves. An increased salary is usually high on the list of my clients’ goals. And I’m happy to say that we have strategies for that.
Earn What You Deserve
Without further ado, here are my top 5 tips for getting paid what you’re worth.
#1 – Know Your Worth: The most important secret for getting paid what you’re worth is to know the value you bring to the table. You also need to be able to communicate that value with confidence and clarity. Can you recite an elevator pitch, your most marketable skills, and your greatest accomplishments without missing a beat? Write them down, commit them to memory, and practice out loud until you can.
#2 – Do Your Homework: Now that we’ve established what you’re worth, you need to find out what the job is worth. Not every job listing includes a salary range, so you might need to do some research to find the average pay for the industry, market, and role you want. Check job boards for comparable positions. Look at websites like salary.com or glassdoor.com, and talk to trustworthy professionals to get the inside scoop.
#3 – Use Facts to Negotiate: It is a challenge, but leave your emotions out of the negotiations. You’ve done your research, so lead with the facts. You are a high performer. And should absolutely receive the same compensation that ANYONE with your qualifications, education, and experience would get to do this particular job. Make the request with confidence and respect, and then weigh the offer.
“The most difficult thing in any negotiation, almost, is making sure that you strip it of the emotion and deal with the facts.” – Howard Baker
#4 – Consider the Total Package: Top executives look at far more than just the paycheck when they look at a job offer; you should too. Yes, the salary matters. But the benefits will also impact the complete value of the package you receive and, ultimately, your quality of life. Be sure to factor in paid vacation, health insurance, 401K match, etc. These are all lucrative parts of your total compensation and should be carefully evaluated, especially when you have more than one offer on the table.
#5 – Be Willing to Say No: Get clear about the bottom line of what you’re prepared to accept. It is perfectly acceptable – and sometimes even expected – to make a counteroffer if the first offer doesn’t work for you. And there is no shame in walking away from a package that doesn’t align with your research, expectations, or ideals. In fact, it can be empowering. Your willingness to decline the wrong offer leaves you free to accept the right opportunity. In my experience, it’s usually not too far behind.
You Have the Power
Being female means being powerful. Don’t let the wage gap get the better of you: know your worth, know your numbers, and know what you want. Then ask for it.
And if you’re prepping for an interview or negotiating a promotion and want to be sure to hit all the high notes, let’s talk! A 90-Minute Power Coaching session might be just right for you.
Lisa L. Baker is a professional life coach, career strategist, and keynote speaker. Lisa is the founder of Ascentim – a Maryland-based coaching practice that utilizes a unique G.R.O.W. process to help clients gain clarity, realize new possibilities, overcome obstacles, and win at life. Lisa shows high-performing professionals how to Level Up and Live the Life of Their Dreams.