Studies show that when men and women with the same experience and educational background apply for the same position, women asked for 30% less than their male counterparts. Additional research confirms this conclusion: women do not ask to get paid what they are worth. Most studies point to women’s lack of confidence as the source of this.
But the good news is you can do something about it. Here are actions you can take to get paid what you’re worth:
Do your homework
- Find out what someone at your level—and with your experience and educational background—gets paid for the same position you’re applying for. Research Glassdoor.com and other job websites for salary information.
- Learn everything you can about the company. Read their annual report and LinkedIn information about the executives and associates in the company.
- If you do have first-hand or second-hand connections with anyone working in the company, find out what it’s like to work there.
Show up powerfully
- First ask yourself:
How does this job opportunity fit into my career goals?
Given the job I am applying for, what do I see as my unique contribution to the company – especially the value that helps with salary negotiations?
- Identify examples of your successes in the industry. Be prepared to talk about your experience, leadership style, and passion for the job and the company during the interview.
- It is customary for companies to use behavioral interview questions. These are specifically designed to identify how you’ve responded to work challenges in the past.
Be prepared for these questions by thinking about the challenges you’ve faced in previous jobs.
Be ready to talk about how you’ve handled them.
Be confident in the value you bring, BEFORE you talk salary
- The process of interviewing and asking for what you’re worth is akin to dating and then committing to a long-term relationship. Have the people in the company get to know you. Discuss with the people who interview you the unique contribution you feel you can make to the company.
- Define expectations: what expectations do you have of this job? What expectations do the hiring mangers have of you? Ask them for specifics about what they’re looking for.
- Once you know you’re a good fit and you know you want the job—and you know they want you—then you can talk salary, operating from a place of power and clarity.
Don’t sell out. Use these actions to develop the confidence and courage to ask for what you’re worth!
—Ilene Fischer, Partner, Mark Kamin and Associates