How to Negotiate a Raise in Any Circumstance - Your Career Intel

How to Negotiate a Raise in Any Circumstance - Your Career IntelSalary negotiations can be an intimidating undertaking, even for the most experienced professionals. But failing to negotiate a raise means youre leaving money on the table. An extra 4% in your first job may not seem like a lot now, but over your career your lost lifetime earnings could exceed $1 million. Yet only 37% of professionals negotiate their salaries, according to research. Worse, 44% of professionals have never brought up the subject of a raise during a performance review, a prime opportunity to ask for mora.We asked our executive recruiters for their expert tips on how to negotiate a raise in any circumstance. Heres what to do.How to Negotiate a Raise with a PromotionDo your research. departure with a quick Google research into the going rate for your new position in your specific industry and geographic area. An industry recruiter can also be an excellent resource for insight into regional salariesQuantify yo ur value. Ideally, youll be able to list specific examples where youve saved the company money or landed a major client. Highlight projects or ideas youve championed and the leadership responsibilities youve undertaken, such as mentoring a new hire. Then shift the conversation to your future potential what additional value will you be creating in this new role? The company needs to know that paying you a higher salary is a strategic investment.Ask for a precise number. While its great to have a general range in mind, one effective raise negotiation strategy is to ask for an exact number, such as $74,650 rather than $75,000. Researchers at Columbia University found that when employees use a precise amount in their salary negotiations, managers assume theyve done extensive research into market value and are more likely to accept that request.How to Negotiate a Raise with Another Job OfferBe confident. In general, hiring managers expect you to negotiate a salary offer and some may eve n be impressed with your negotiation prowess. If youre feeling nervous about negotiations, try asking, How did you calculate this number? This phrase is a good opener for future talks and an opportunity to discuss your specific value to the company. If you receive a verbal offer during an in-person interview and are not prepared for negotiations, its okay to ask for 24 hours to evaluate the offer and return with a counteroffer.Avoid negative words and apologetic language. Negotiation is uncomfortable and our natural tendency is to make difficult conversations less awkward by apologizing. Its easy to default to phrases like, No, that doesnt work for me and Sorry, but I need Keep the conversation tone firm but positive with phrases like, I would be more comfortable with a base salary of $X. If youre negotiating in person, remember that positive body language will go a long way to reinforcing your worth.Be open to alternate reimbursement. If the hiring manager wont budge on salary, con sider asking for other benefits, such as tuition reimbursement, training or continuing education, paid leave/vacation time, work from home flexibility, moving expenses (if you will be relocating) and childcare reimbursement. Try saying, Besides the base pay, what other benefits are negotiable?Mastering Raise Negotiations When the Answer is NoMastering raise negotiation strategies will take practice. Dont be discouraged if the answer to your raise request is no. Ask your supervisor when it will be a good time to revisit the issue. You will already have laid the groundwork for a raise and are likely to be more successful with future negotiations.

Things Holding Back Women of Color at Work and 7 Things We Can Do to Get Ahead

Things Holding Back Women of Color at Work and 7 Things We Can Do to Get Ahead Pay equity is a key issue in the gender parity debate, perhaps because nothing tells the gender inequity story better than statistical numbers and dollar signs. Women in general have it tough, but women of color have it even tougher. Although women of color are ambitious, there are some stark realities that hinder their progredienz in the workplace1. Women of color get paid less.Statistics show that the average working woman is paid 83 cents for every dollar that a man is paid. The reality is much more bleak for black and Hispanic women, who are paid only 65 cents and 59 cents for every dollar a white male makes, respectively.2. They pay a social penalty when they ask for more.For years, experts have argued that the reason women dont get promoted or receive raises at the same rate as men is because they dont ask. But, a recent study by LeanIn.Org and McKinsey Company on Women in the Workplace turns this notion upside its head. The study shows that women of all races and ethnicities negotiate at the same rate as their male counterparts. While women who negotiate for a promotion are more than twice as likely to get one, it comes with a price. Women who negotiate often receive feedback that they are bossy, intimidating and too aggressive.3. They receive less support.Interestingly, the Women in the Workplace study also found that women of color are far more interested in becoming top executives than their white counterparts. Despite their ambition, they are less likely to have managers who will advocate for them, provide them with stretch opportunities, give them career advice, defend their work and help them navigate organizational politics.So, heres my advice for women of color on how to get ahead.Dont let the statistics and figures discourage you from putting your best foot forward. Here are some strategies to help you navigate in a challenging environment1. Be a top performer.Your performance matters. Work hard to deliver excellent results.2. Raise your hand.Step up and volunteer to take on new projects. This is a great way to get on the radar screen of the top leaders in your organization.3. Build your network.Cultivate a well-rounded network of peers and senior leaders. Connect with the movers and shakers and the rising stars.4. Be ambitious and go for it.Be clear about your goals are and do the research to learn what is required to get there. Then go for it5. Talk about your accomplishments.Its not enough to do the work and keep your head down. Talk about your accomplishments.6. Build your personal brand.Develop a reputation as a person who works well with others, can lead a team effectively and gets the job done.7. Leave to get ahead.Sometimes the best way to htte nicht viel gefehlt track your career is to walk out the door and find a another opportunity that will take your career to the next level.--Ellie Nieves, JD, MBA, develops webinars, seminars, and coaching programs to help high achieving women show up, speakup,and step up in their careers. She is also the host of the Leadership Strategies for Women Podcast where she shares success tips to help women achieve more both personally and professionally. To learn more, gotowww.EllieNieves.com.