How to Successfully Negotiate a Salary Raise

We all know about the gender pay gap: white women earn about 80 cents for every dollar a man makes, and it's even worse for women of color. One factor contributing to this gap is the fact that men negotiate their salaries far more often than women. But get this: women who don't negotiate their salaries stand to lose an estimated $1 million in earnings over the course of their lifetime !

Negotiating a pay raise can be a daunting task, but it doesn't have to be. By following the steps outlined in this post, you'll learn how to advocate for your worth. I've successfully negotiated several substantial salary increases over the years, and these are the three strategies I've found that work well:

1. Know Your Value: Before stepping into a negotiation, take the time to brainstorm what you uniquely bring to the table in your organization. Come armed with a list of accomplishments. Be prepared to articulate your strengths and value with confidence, emphasizing how your contributions have positively impacted the company.

2. Research Market Rates: Knowledge is power. Arm yourself with data on industry standards for your role and experience level. Research comparable positions in your field and geographical location. Having this information in hand strengthens your negotiating position and demonstrates your commitment to fair compensation.

3. Practice, Practice, Practice: Effective communication is key during negotiations. Rehearse your key points so you can deliver your pitch with confidence. Also be prepared for potential pushback, and have counterarguments at the ready. This is exactly how I prepare for Court. The goal is to convince your employer of your position, just like I need to convince a judge of mine. The more you practice, the more poised and assertive you'll be during the actual negotiation, and delivery matters!

By negotiating your salary you'll not only be securing better compensation for yourself, you'll also be contributing to the ongoing movement for gender equality in the workplace!