Don't Leave Money on the Table
When it comes to negotiating money, women sometimes tend to sell themselves short. The money stories we’ve been fed throughout our lives don’t align with asking for more, and better yet, for what we’re worth.
Whether you’re a season professional or just starting on your career journey, one piece of wisdom resonates deeply - don’t leave money on the table.
Let’s explore some ways to ensure you are able to ask for what you’re worth and maybe even beyond.
Know your value
The first step to ensuring you don’t leave money on the table is understanding your worth. Reflect on the unique skills, experiences, education, accomplishments, and contributions you bring to the table. Recognize that you deserve to be appropriately compensated for all of this.
Research market rates
Stay informed about the current market rates for your position and industry. Research salary benchmarks, benefits, and perks to ensure that your compensation aligns with industry standards. Knowledge is power, and being aware of your market value empowers you to negotiate confidently.
Embrace negotiation
Many women hesitate when it comes to negotiating their salary or benefits because they’re worried about what other people will think. However, negotiation is an important skill that can significantly impact your financial wellbeing. Approach negotiations with a positive mindset, focusing on a win-win outcome. Practice and preparation are key elements of successful negotiations.
I have so many stories, even personal ones, where women I know asked for more money and got it. I know others who asked for more, and the employer came back with a no but not a ‘sorry we don’t want you anymore.’
By not asking, the only thing you’ll be left with is regret. Remember, the worst thing anyone can say is no.
Advocate for yourself
Be loud and proud and take an active role in advocating for your worth within the workplace. Clearly communicate your achievements, milestones, and the value you bring to your team or organization. Don't shy away from discussing your contributions during performance evaluations or when seeking promotions.
This is a true story. I once came to understand that I was severely underpaid for what I was contributing and asked for a salary review. I ended up getting way more than I expected and a promotion.
The power of asking for what you deserve is unparalleled.
Explore additional benefits
Compensation isn't just about salary. Consider the entire benefits package, including health benefits, retirement plans, bonuses, and professional development opportunities. Negotiate for a comprehensive package that aligns with your personal and professional needs.
Many people forget that they can negotiate their benefits. For example, if they say no to more money, try and ask for more time off. Again, the worst thing you’ll hear is no.
Find mentors and advisors
Having mentors and advisors can help provide valuable insights into career development and negotiation strategies. Seek guidance from individuals who have successfully navigated their careers and negotiated effectively. Learn from their experiences and apply those lessons to your own professional journey.
Leaving money on the table is not just a missed opportunity—it's a potential setback in achieving financial and professional success. By understanding your value, staying informed, negotiating confidently, and continually investing in your growth, you can ensure that you are never settling for less than you deserve. Remember, maximizing your worth isn't just about money; it's about acknowledging the value you bring to the table as a skilled and accomplished professional.
You’ve got this!