How to Negotiate Pay Raises.
When it comes to pay raises and promotions, advocating for fair compensation isn’t just about money - it’s about recognizing and valuing your contributions. Statistics show that women are still paid only 82 cents for every dollar earned by men, and there is an even wider gap for women of color. Your pay isn’t just a number, it’s a call to action. Knowing your worth and confidently asking for what you deserve is a crucial step towards closing that gap, both for yourself and for all women.
Here are a few powerful tips to help you prepare for your next negotiation:
Know your value.
Before going into any negotiation, take time to objectively assess your contributions. Do not downplay what you’ve added to your workplace or the team. Write down recent achievements, specific projects you’ve led, money you have saved the company, and how your work has positively impacted your team or company. Bonus points for concrete figures - like increasing sales or profit, specific people you’ve brought onto the team, etc. Practice stating these facts and contributions so you can recite them easily in conversation. (We’re serious, practicing with friends or family can make a huge difference.) These concrete examples will give weight to your case and reinforce your value.
Research industry standards.
Research what others in similar roles and industries are earning to ensure your request is competitive and fair. Sites like Glassdoor or Payscale can help you benchmark salaries, giving you data to support your ask. You can also try industry-specific organizations for additional information. As with your accomplishments, make sure you keep these figures handy to support your request. State the information like, “the industry standard for my role in this city is X.”
Use clear, confident language.
As with everything, the confident person often gets what they ask for. Language can be incredibly powerful in negotiations. Try phrases like, “Given my contributions and the impact I’ve made on {specific project or goal}, I would like to review my current compensation.” Another powerful statement: “I’m excited to continue bringing value to our team, and I’d like to discuss adjusting my salary to reflect my contributions and the market standards for this area.”
What happens next…
Before your meeting, be prepared with your next steps. While you can’t know ahead of time how the conversation will go, it’s important to have thoughts on how you will react if the answer is no or if the raise doesn’t match the figure you had in mind. If the conversation is generally amiable, you can ask what it will take for the company to match your request, however, be careful if they want you take on more before they will consider a raise. If you truly feel that you deserve the raise now, taking on more work just means your compensation should be even higher.
Also, create an exit strategy if feel that they aren’t amenable to your request. Like buying a car, you sometimes have to be okay with walking away. Start applying to new jobs as an insurance policy. At the very least, you will have a new pay amount to present to your current company.
Final thoughts…
Negotiating for fair compensation takes courage, but each time you advocate for yourself, you’re setting a new standard and paving the way for others. By confidently recognizing your worth, you’re not just advancing your career - you’re contributing to a much-needed shift toward pay equity for all women.