5 No-Fail Strategies To Earn What You’re Worth

When it comes to talking about challenges that women professionals face in a corporate workplace, one of the first that comes to mind is that of salary negotiation. Ironically, women can give many male colleagues a run for their money when it comes to negotiating for someone else. However, when it comes to standing up for themselves, that is often quite a different story.

In the book, Women Don’t Ask: Negotiation and the Gender Divide, co-authors Linda Babcock and Sara Laschever identified a 7.6% difference in the salaries of men and women MBAs. The authors go on to mention how many women routinely miss out by not asking for promotion or better career advancement opportunities – effectively leaving money on the table!

Likewise, in her book, Lean In, Facebook COO Sheryl Sandberg writes about a surprising study conducted at Carnegie Mellon University. While 57% of male students negotiated for higher packages, only 7% of females spoke up.

In today’s business world, the ability of negotiating well is not an art. It is a survival tactic. So what can women do to overcome this difference and bargain with their bosses in a more effective and positive way? Here are some key strategies:

1. Remember: It’s Okay to Ask
The first step is to recognize the need to ask and stand up for what you logically deserve. Do not assume your company or manager will automatically “do the right thing” and “reward your hard work.” If you don’t ask, you don’t get. Know also that every offer is negotiable, and you are not necessarily expected to accept the first one made to you. Give yourself the permission to negotiate at every opportunity.

2. Do your Homework
One of the mistakes that women professionals tend to make is enter the conversation unprepared.

So before initiating the salary discussions, take time to research competitive compensation packages in your industry. Find out what you truly deserve based on your skills and experience. This way, you avoid the risk of under-selling yourself. Although it can be difficult to get an exact figure, you can always ask your trusted friends and mentors to give you a range or a ballpark figure. At the same time, while mentioning your expectation, always say the higher number. Harvard Business School clarifies this process by noting that with a higher figure, you have anchored a point of reference.

3. Highlight Your Achievements
Start the negotiation by highlighting your achievements in the past one year. Talk about projects accomplished, team members led, targets achieved, etc. Talk about how you have contributed to the team and made a difference and – importantly — how you would like to continue to do the same. This builds a positive case towards your request for a raise.

Try not to wait until the discussion day to speak about your work accomplishments. Work towards getting more visibility and building your personal brand within the organization. Let your board and managers know each time you make a difference or contribute well to the company’s reputation or bottom line.

4. Pay Attention to your Body Language
Be aware of what you are communicating without words. How you ask is almost as important as what you ask for. Maintain a calm stance, firm eye contact, and open palm/hand gestures. Stand straight and pull your shoulders apart. Smile a little bit. It will help you stay relaxed and not get too emotional or aggressive. Deploying a position of confidence will actually make you feel that way. Amy Cuddy, social psychologist and associate professor at Harvard Business School, talked about these  “Power Poses” during her TED Talk which can impact your chances of success.

5. Learn to Say No
Negotiating or not, this is one skill that all professionals can definitely benefit from, in many ways. If you think that what is being offered does not match up to your expectations, speak up and say no. Often women shy away from saying “no” due to the fear of jeopardizing the relationship, sounding impolite or hurting the other person. However a polite yet assertive “no” is instrumental in sustaining long-term, respectful professional relationships.

While preparing for your discussions, also think about your counteroffer. Remember that your manager does not expect you to take the first offer at face value. And yet, many women professionals accept and are “grateful” for what is initially presented. Always be prepared to negotiate a little further and have a counteroffer ready. You can get as creative as you like in asking for more. It need not be linked to financial rewards; you could ask for sponsorship to a course or a conference, in-house coaching, exposure to other regional offices, customized work schedules, etc.

All of these points come down to thinking about what you truly deserve from life, and standing up for that. It is all summed up in a surprising (and meaningful) poem about the workplace authored  by Jessie B. Rittenhouse that financial expert Barbara Stanny quotes in her book Secrets of Six-Figure Women: Surprising Strategies to Up Your Earnings and Change Your Life:

I worked for a menial’s hire,
Only to learn dismayed,
That any wage I would have asked of life,
Life would have willingly paid.