This past Thursday evening I attended a seminar sponsored by the UC Women's Center entitled "$tart $mart." It is a workshop teaching college age women about the need to benchmark and negotiating a starting salary. I have taken 20 weeks worth of classes on Professional Practice, and I learned more in Thursday's 3 hour session than I did during both of those classes. This information is too important NOT to share. So, here you have it:
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Start Smart originated by the group Women Are Getting Even (WAGE) and the AAUW. Their aim is to educate others about wage discrimination in the United States, (yes it still happens) and inform and empower women to stand up for the compensation we deserve.
Women make, on average, .77 to every $1 an equally qualified man makes in the workplace. That may not seem like a lot, but it adds up. Over a life time, a working woman will potentially make 1.2 MILLION dollars less than her male counterpart.
One. Point. Two. Million. Dollars. What the HELL??
If a man and woman start on the same career track in the same position, but the man negotiates to get a bigger salary, he will consistently make more across the board. His bonus will be bigger, pension will be bigger, and every raise will catapult his salary higher and higher. Add in deeply rooted stereotypes (albeit sometimes unintentional) and lower expectations on the woman's part ( "I don't need as much", "I'm not as well qualified", "I want to be liked so I won't make a fuss") and you have a formula that is unfair and needs to be changed.
It starts with the first salary after graduation. Oh hey, I'm graduating in June... so this is pretty flipping relevant to me.
The way to get what you deserve in the workplace is to know what you deserve to be making in the workplace. Wageproject.org is a website that catalogs salary and benefits for practically every job in the US, and lists high, low, and average salaries in a particular location. So for a beginning interior design position in Cincinnati, the average salary is about $38,000. This is good info to know, especially since in the workshop we calculated a basic budget coming out to approximately $32,000 a year. Eep!
When you know what the median salary for your potential position is, set that as your benchmark salary goal for the position. If you're qualified for the job, you deserve the money! Do not let the economy scare you into settling for a salary. It will hurt you in the long run.
It's also important to know about and negotiate your benefits. Sometimes a lower pay will be worth it if the benefits (health, life, disability insurance, 401K contibutions, paid time off, vacations) are good. But if you don't know, you can't negotiate!
After you benchmark your target salary, you know what you are worth in the marketplace. Be prepared to justify the reasons behind the salary you want. Employers admire someone who has a clear understanding of their worth and how to explain it.
We also learned how to negotiate a salary, with tips and tricks, do's and don'ts.
* If you are filling out a job application, do NOT fill in a desired salary if it is requested. Put something like "negotiable." If it's online and you can't proceed until filling it out, then put 2% above your midpoint salary. But only if you absolutely have to.
* You can only start negotiating your salary AFTER you have a job offer. Not a peep about it before they want you to work for them. After they've offered you the job, they are invested in you and will be willing to discuss your needs.
* It's all about your tone. Be positive - you're starting a professional relationship with this person, no need to get defensive. It's a conversation. Don't be emotional. Be persuasive - put all the research you've done to use and let them know why you deserve to be paid what you deserve to be paid. But also be flexible - Know what you want (your target), but know what you need (the absolute minimum you've decided you need to live on). Listen to your employer's needs and brainstorm ways to meet their needs and your goals.
* Tactics: Let them offer a number first. Don't be the first to offer. Aim high, but be realistic. If you've got the skills, you deserve the money, honey. Tell them why!! Do your homework on the company and organization, so you know how you can fufill your employer's needs from Day 1.
* Tips: Sell yourself! - Don't assume they've read your resume, so be prepared to go through it and highlight specifics. Anticipate any objections they may throw your way. Be prepared to listen, and respond with how you can help them. And seriously... don't get personal.
An employer is looking for an assessment of your ability to get their job done and how you fit within their organization. They don't need or want a sob story of how badly you need the job.
If you get an offer, don't accept it right away. Don't be afraid to have a discussion. If they refuse to budge on the money you need, be prepared to walk. It wasn't the right choice anyway. Be sure to ask hard questions.
The bottom line: If you don't ask, you won't get it. You are not a bitch for asking for the money you deserve. Be knowledgeable. Be honest. Be professional. You'll come out ahead.
The UC Women's Center is an amazing resource, and they are super helpful if you have any questions or want any more information on this and other women's issues. You can go to their website or check them out on campus at 571 Steger (right next to Subway.)
Start Smart originated by the group Women Are Getting Even (WAGE) and the AAUW. Their aim is to educate others about wage discrimination in the United States, (yes it still happens) and inform and empower women to stand up for the compensation we deserve.
Women make, on average, .77 to every $1 an equally qualified man makes in the workplace. That may not seem like a lot, but it adds up. Over a life time, a working woman will potentially make 1.2 MILLION dollars less than her male counterpart.
One. Point. Two. Million. Dollars. What the HELL??
If a man and woman start on the same career track in the same position, but the man negotiates to get a bigger salary, he will consistently make more across the board. His bonus will be bigger, pension will be bigger, and every raise will catapult his salary higher and higher. Add in deeply rooted stereotypes (albeit sometimes unintentional) and lower expectations on the woman's part ( "I don't need as much", "I'm not as well qualified", "I want to be liked so I won't make a fuss") and you have a formula that is unfair and needs to be changed.
It starts with the first salary after graduation. Oh hey, I'm graduating in June... so this is pretty flipping relevant to me.
The way to get what you deserve in the workplace is to know what you deserve to be making in the workplace. Wageproject.org is a website that catalogs salary and benefits for practically every job in the US, and lists high, low, and average salaries in a particular location. So for a beginning interior design position in Cincinnati, the average salary is about $38,000. This is good info to know, especially since in the workshop we calculated a basic budget coming out to approximately $32,000 a year. Eep!
When you know what the median salary for your potential position is, set that as your benchmark salary goal for the position. If you're qualified for the job, you deserve the money! Do not let the economy scare you into settling for a salary. It will hurt you in the long run.
It's also important to know about and negotiate your benefits. Sometimes a lower pay will be worth it if the benefits (health, life, disability insurance, 401K contibutions, paid time off, vacations) are good. But if you don't know, you can't negotiate!
After you benchmark your target salary, you know what you are worth in the marketplace. Be prepared to justify the reasons behind the salary you want. Employers admire someone who has a clear understanding of their worth and how to explain it.
We also learned how to negotiate a salary, with tips and tricks, do's and don'ts.
* If you are filling out a job application, do NOT fill in a desired salary if it is requested. Put something like "negotiable." If it's online and you can't proceed until filling it out, then put 2% above your midpoint salary. But only if you absolutely have to.
* You can only start negotiating your salary AFTER you have a job offer. Not a peep about it before they want you to work for them. After they've offered you the job, they are invested in you and will be willing to discuss your needs.
* It's all about your tone. Be positive - you're starting a professional relationship with this person, no need to get defensive. It's a conversation. Don't be emotional. Be persuasive - put all the research you've done to use and let them know why you deserve to be paid what you deserve to be paid. But also be flexible - Know what you want (your target), but know what you need (the absolute minimum you've decided you need to live on). Listen to your employer's needs and brainstorm ways to meet their needs and your goals.
* Tactics: Let them offer a number first. Don't be the first to offer. Aim high, but be realistic. If you've got the skills, you deserve the money, honey. Tell them why!! Do your homework on the company and organization, so you know how you can fufill your employer's needs from Day 1.
* Tips: Sell yourself! - Don't assume they've read your resume, so be prepared to go through it and highlight specifics. Anticipate any objections they may throw your way. Be prepared to listen, and respond with how you can help them. And seriously... don't get personal.
An employer is looking for an assessment of your ability to get their job done and how you fit within their organization. They don't need or want a sob story of how badly you need the job.
If you get an offer, don't accept it right away. Don't be afraid to have a discussion. If they refuse to budge on the money you need, be prepared to walk. It wasn't the right choice anyway. Be sure to ask hard questions.
The bottom line: If you don't ask, you won't get it. You are not a bitch for asking for the money you deserve. Be knowledgeable. Be honest. Be professional. You'll come out ahead.
The UC Women's Center is an amazing resource, and they are super helpful if you have any questions or want any more information on this and other women's issues. You can go to their website or check them out on campus at 571 Steger (right next to Subway.)