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#CareerAdvice : #SalaryNegoiations – Four Things you Absolutely Must Do in your #SalaryNegotiation …Keep These Tips on Hand the Next Time you’re #Interviewing for a #NewJob or Angling for a #Raise .

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Countless job seekers and employees still struggle with negotiating salaries and advocating for themselves. But let’s say you’ve worked yourself up to asking for a higher salary. You could still be missing out on perks that can further enhance your compensation package–and they may not be that far out of reach.

“The whole salary negotiation process is a conversation,” says Jacqueline Twillie, a negotiation expert and founder of leadership development firm ZeroGap. “It’s not a battle.” With that in mind, here are some negotiation tricks to keep in mind the next time you’re interviewing for a new job or angling for a raise.

NEVER ACCEPT A VERBAL OFFER

“Don’t just flat out accept it, even if it sounds great and you’re really excited,” Twillie says. She recommends that job seekers always hold off on saying yes to a verbal offer, even in cases where they feel sure about the job. “I would always ask for an opportunity to review everything in writing–but express enthusiasm so that they know that you’re interested,” she says. The money might sound good at first blush, but when you look at benefits like healthcare, you may find the coverage is less than you anticipated; if so, you may want to negotiate a better salary.

“It’s much harder to come back and negotiate after you’ve already accepted,” Twillie says. “And it puts you in a stronger position when you haven’t accepted yet.”

 

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DO YOUR RESEARCH ON PAY PARITY

In states like California, pay parity laws that have gone into effect over the past few years could help women negotiate salary increases, according to Tracy Saunders, a former recruiter who started the Women’s Job Search Network. The Equal Pay Act in California states that employees who do “substantially similar work” must be paid equally, even if their job titles are not identical. “Companies are actually adjusting women’s salaries outright,” Saunders says. “Understanding those laws is one way to receive a more substantial kind of increase.”

The same is true of another law that seeks to address the gender pay gap, which prohibits employers from asking about a prospective employee’s salary history in states like Massachusetts and California. In the event that a recruiter does ask for your current salary, try to shift the conversation to your salary expectations; Saunders and Twillie also recommend talking about salary expectations early in the interview process. “It’s really important that in the first phone screen, when they bring up the money, you talk about the market rate and not your current salary–especially if your first salary is less than the market [fusion_builder_container hundred_percent=”yes” overflow=”visible”][fusion_builder_row][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][rate],” Twillie says.

FIGURE OUT WHAT YOU NEED TO BE SUCCESSFUL–AND ASK FOR IT

As you go through an interview process or negotiation, it’s important to get as much information as you can about the role you’re up for. “Try to ask questions that give you a deeper understanding of the work you’ll be doing beyond the job description,” Twillie says. “If you can understand what you’ll be doing upfront, you’ll be able to negotiate for different things.”

That could include a travel allowance or a certification–or it could be as simple as the right equipment. “People think they’ll be provided with the tools,” Twillie says, “but if you don’t ask for those things, you’re not going to get them.” Asking for what you need during the negotiation process, she argues, can prove more effective.

One of the best ways to figure out what a new role may entail is talking to employees. According to Twillie, some companies have started allowing people they’re interviewing to shadow employees, which she suggests job seekers try to do. “If you spend more than 10 minutes with a person, they’re going to drop their guard and be more open,” she says. “So if you can spend that half day on site, it really gives you an opportunity to learn about the culture and to talk to employees.”

GET CREATIVE WITH BENEFITS

As companies race to snag the best employees, many have rounded out their compensation packages with more attractive benefits and perks–say, a flexible vacation policy or the ability to work remotely. Some employers are even offering to assist with student loan repayments. Twillie notes that there are countless ways to negotiate benefits, and that would-be employees can even repurpose a perk that they don’t need: One person she coached asked to put a superfluous relocation package toward repaying her student loans. “If they’re giving you a bucket of money,” she says, “see if you can use it in a different area.”

For parents, another option is to request a bump in pay over the summer, to account for the cost of childcare; and for employees who yearn to be parents, employers might help subsidize fertility treatments or adoption assistance. (“These are really high-ticket, high-price benefits,” Saunders adds.) Both Twillie and Saunders urge job seekers to think outside of the box and ask for benefits that aren’t necessarily included in the “standard” compensation package. “When you’re starting to think about negotiating, it just depends on what your goals are,” Saunders says. “There are some new benefits coming into play that are intangibly valuable–or priceless.”

ABOUT THE AUTHOR

Pavithra Mohan is an assistant editor for Fast Company Digital. Her writing has previously been featured in Gizmodo and Popular Science magazine.

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FastCompany.com | September 24, 2018

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Your #Career : Bigger Companies Once Meant Much Bigger #Pay , No More…For Decades, even Lower-Paid Workers could Boost their #Pay by Moving to a Bigger Employer. No Longer.

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The significant pay premium that Americans used to receive for working at large companies has shrunk rapidly in recent decades, especially for lower-wage workers, a new study finds.

For the last century, economists have noted that similar workers tend to earn significantly more at large firms than at small ones—a premium that worked out to nearly 50% higher pay in the early 1980s for an employee who went from a company employing fewer than 100 people to one employing 10,000 or more.

But more recently, that premium has shrunk to just 20%, Stanford University economist Nicholas Bloom and his co-authors found in an analysis of federal income data from the late 1970s through 2013. The study was presented Saturday at the annual meeting of the American Economic Association in Philadelphia.

“This large-firm pay premium that’s been around for over 100 years, in the last 30 or 40 years, it seems to have collapsed in the U.S.,” Prof. Bloom said.

It has essentially disappeared for lower-paid workers and those without college degrees, he said. The bottom 50% of workers by pay received almost no premium for working at large companies in 2013, while the premium remained steady for college graduates.

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Prof. Bloom has specialized in analyzing income data for individuals, anonymously, across time and as they change jobs, using a variety of federal population and employment data.

“Almost all of the drop is that large firms are paying the same types of people less,” Prof. Bloom said. “It’s not that they’re hiring worse employees, they just seem to be paying less of a bonus.” 

The trend meshes with others, including the rising dominance of large firms and a rapid increase in pay among the top earners at large companies. At smaller firms, by contrast, pay for employees has tended to rise and fall together, Prof. Bloom’s research has found.

The premium is likely declining for a combination of reasons, Prof. Bloom said. Lower-paid jobs are increasingly outsourced at large companies, which makes it easier to push wages down for those still directly employed. In addition, low union membership—already pronounced in the private sector in the 1980s—likely has contributed modestly, he said.

Finally, activist shareholders and other factors have put pressure on managers to reduce operational costs, Prof. Bloom noted. “You could almost see it as an unpleasant side effect of capitalism, that it’s led to a shift of compensation from low-paid to high-paid,” Prof. Bloom said. “It’s what tends to maximize stock prices.”

Other research has chronicled how large companies in a variety of industries have shifted whole functions through outsourcing, contracting, franchising and other means, said David Weil, dean of the Heller School for Social Policy and Management at Brandeis University and a former Obama administration labor official.

“What Nick’s paper does is ramp that up into more economywide effects,” Prof. Weil said. “It’s been underrecognized.”

Write to Theo Francis at theo.francis@wsj.com

 

WSJ.com | January 10, 2018

#Leadership : Actually, Women Do Ask For Raises As Often As Men—They Just Don’t Get Them…A Recent Study Shows that Women Know What they’re Worth and Aren’t Afraid to Ask for It. It’s Their Employers that Don’t.

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 Almost a decade ago, Carnegie Mellon professors Sarah Laschever and Linda Babcock found that men ask for raises and promotions four times more than women do. Their research has now been cited so often that it’s just about become popular wisdom.

free- women at meeting

But a new study by researchers at London’s Cass Business School, the University of Warwick, and the University of Wisconsin analyzed a random sample of just over 4,500 workers across 800 employers in Australia and found something surprising: Women aren’t afraid of asking for raises and promotions. Women ask as often as their male counterparts, but they get what they want less often—25% less often, in fact.

NEW RESEARCH, NEW REACTIONS

Using a detailed series of questions, the researchers tackled two stubborn yet widespread beliefs surrounding the gender pay gap. The first—that women aren’t as ambitious or pushy as men—was found to have no basis in the study (which focused on Australia, because it’s the only country that gathers data on employees’ raise requests). The second—that women are more afraid of upsetting their bosses or hurting their relationships with their employers—was also thrown out.

These findings shift the burden from professional women to the companies that employ them. These days, it appears that closing the pay gap may be less about changing the ways women have been raised to understand the value of their work and more about how their employers react to women’s improving negotiating skills.

Social and political climates may have something to do with that shift. Earlier this year, the World Economic Forum (WEF) issued its annual report on the gender gap, and it didn’t just fall into the void. Just last month, in Iceland, where women earn an average of 14% less than men, women left their desks at 2:38 p.m., leaving their workdays 14% unfinished—right at the point where that pay discrepancy kicked in.

Taking to the streets and leaving desktops unwatched might not catch on in the U.S., but the metaphor is instructive. The WEF report looked at 144 countries and measured the gaps not only in economic opportunities but also in access to education, health care, and political representation. The U.S. ranked 45th on the list. At the current rate, researchers believe, women worldwide are not going to see these gaps close completely in their lifetimes—it will take 170 years at the current rates of progress worldwide.

 

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But as one of the coauthors of the Cass School study points out, that research “potentially has an upside. Young women today are negotiating their pay and conditions more successfully than older females,” says Amanda Goodall, “and perhaps that will continue as they become more senior.” Women aren’t just negotiating more aggressively than in the past. They’re now more aware that they aren’t being rewarded equitably for doing so.

Knowledge is power, in other words, and it spreads almost exponentially over time. It’s findings like Goodall’s and her fellow researchers’ that don’t just document a problem but empower those who are hurt by it to demand change in the right places.

WHAT WORKING WOMEN CAN DO STARTING NOW

With that in mind, there are a few steps women can take right away to begin pressing to earn what they’re worth.

Know your own value. Do the research and honestly assess your talents, skills, and experiences—because your boss won’t do this for you. Get the data on pay for the same or comparable jobs in your community, so you have objective (or at least less subjective) information with which to build a case for yourself.

I was so proud when a former intern of mine was offered a position at a major tech company and asked me what to do before accepting. She’d done her research, and the firm’s salary offer was toward the top for comparable positions. Still, she said, “I know I should negotiate something.” She was right; I advised her to think about non-salary compensation that she’d value, and she ended up getting her new employer to pay for her move.

Be your own advocate. Investigate the culture of your company, how decisions are made, and what’s valued most (and least). It’s one thing to do the “hard” research—salary benchmarks and so on—and another to get a “softer,” qualitative feel for an employer’s mind-set around compensation. This holds true as much for a company you’re considering working for as one you already do work for.

Go on Glassbreakers to get or become a mentor, and LinkedIn to connect with others in your field. Read reviews on Fairygodboss. Talk to trusted coworkers. Reach out to past employees who’ve since moved on, and ask their experiences. Then use your research to help you speak up—not just about your salary offer or about that promotion coming up, but about ways in which women’s leadership can add value to their bottom line.

Outside of work, too, it’s important for professional women to understand policymakers’ priorities; change happens in both big and incremental ways. The keys to more opportunities and important social shifts can often be found in the details of all kinds of bills, from the municipal to the federal level.

Face the chaos with courage. When I left my first CEO position, a member of the board asked me what I thought was one of most important qualifications for the job. Courage was the answer that came out of my mouth before I had a chance to think. I still believe that courage is what it takes to act in the midst of chaos and against long odds that you shouldn’t have to surmount but are forced to. It takes courage, too, to own the responsibility for fixing something, even if you don’t have total authority to—and to make decisions even when you can’t guarantee the outcomes.

It’s possible to see the latest research as different fragments of the same picture. Women have changed—even in the past decade—but the world at large has not, and 170 years is too long to wait for parity. The U.S. has just fallen short of electing its first female president, but it’s worth remembering that Hillary Clinton won the popular vote. That means that a majority of American voters still wanted a woman to represent them, and that desire doesn’t vanish.

Whatever the next four years turn out to look like, it’s clear that the social tide is turning. Younger women are asking for their due when their older colleagues didn’t dare to (often as a result of wholly valid fears). It’s heartening to know that the data confirms what many of us have long hoped: Finally, women know their worth. Now it’s time for everyone else to catch up. Don’t worry—we’ll show you the way.

 

FastCompany.com | GLORIA FELDT |  11.10.16 5:00 AM

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