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Hi and welcome to TRiBE's Toolbox where you will find tips, tricks and stories
for Black women, by Black women. I'm Yvonne Maxwell and I'm an IT consultant and
the co-founder of TRiBE. In today's episode we're going to discuss how to
negotiate your salary and cover how to identify your unique selling point
Now throughout my professional career I have spent so much time trying to figure
out how to negotiate salaries. How do I convince employers that I am worth more
than what they actually advertise? Now I have so many tips and tricks to share
with you so grab a pen and paper and get ready to learn.
Stage #1: Know your worth. Studies have shown that women rarely negotiate their
salaries in fact most women are uncomfortable with the concept of it and
have never even considered it. Now as a Black woman I feel like any of those
figures just double because we're dealing with the fact that we're women
and we're Black. The truth is anyone can learn the skills, anyone can learn how to
negotiate their salaries. All you need is the skills, a little training and also a
tiny bit of confidence. If you're striving to get the pay that you deserve
it's important that you understand what the going rate is for your position in
your geographic area and your actual industry. So things like doing research
about the actual role speaking to men and women and you have to make sure you
speak to both genders because you need to identify if there is a gender pay gap
issue there. Also make sure you understand the responsibilities
requirements and expectations of your position. For example, try and get a copy
of your job description and job descriptions of other roles that are
similar as well that will give you a good idea of what different
organisations expect of somebody in your position
Stage #2: Identifying your unique selling points or USPs.
It's so important that you understand what makes you stand out from other
candidates and documenting this is so crucial to your negotiating journey
Knowing your USPS will give you a better understanding of where you fit in the
market at the moment, it will also help you identify areas that you may need
perhaps some training or just general improvement. Pause the video here and
write down five key USPs that you think you possess.
Great, let's have a little look at what you've written down. Did you find that difficult? Was it a little
challenging finding positive things to say about yourself? That is completely
normal if you did find it hard, please don't feel bad at all.
When you are thinking about your USPs don't necessarily look at skills or
positive things that are just general in terms of life like for example "I'm a
good listener". That's all well and good but is an employer gonna find that
extremely extremely beneficial and is that going to give you a leverage over
other candidates? So when you think about your USPS think about skills that are
specific to the job that is at hand
Stage #3: So, how much do you actually ask for? Now there's a simple equation that can
guide you in terms of understanding how much to actually ask for when
negotiating your salary. For a seasoned professional, your equation will look
something like this. Now combining what you've learned in previous roles with
the research that you've done on different job salaries within the market,
plus the work that you've done to identify your USPs that will give you a
desired salary range. Now please make sure that you actually have a specific
number within that range that you have in your mind when you go into
negotiations as opposed to trying to go in with say £30 to £35K go in with £33.5.
For people who are just entering the market so for example a graduate or
maybe someone who's had a very very long job break the emphasis is going to be
placed on the research that you've done across the job market and also your
unique selling points as opposed to how much you've earned in previous roles. Now
don't be afraid again to find something that's within that range but again
probably be a bit more flexible because after all you haven't had as much
experience as others.
Stage #4: Timing is key. Starting discussions about salary prematurely can give off the completely wrong signal to employers now what they
see when you do it too early is this person doesn't care about actually
fitting in to the organisation because it doesn't actually care about the role
what they want is that money. So for those negotiating promotions why
not do it within your annual or your six-month review or perhaps you have a
performance review scheduled? Doing it in these settings will give you a
structured space in order for you to actually enter negotiations with your
employer.
Stage #5: let's talk tone. Any negotiations should be approached in a professional and reasonable manner whether negotiating
for a new job or a promotion the focus should always be on your
achievements and your performance. One of the golden rules to salary negotiation
is don't mention any personal justifications or reasons for wanting more money like I
know your rent does increase girl and I know that childcare costs are expensive
but just don't mention it. The likelihood is that a lot of your
employers or a lot of your colleagues are also experiencing the same strifes so
don't mention it at all find other justifications as to why you
deserve more money. Now I'm going to be real with you salary negotiation is not
easy it requires practice and a confidence in who you are and what you
bring to the table. So over the next couple of days I'd like you to do some
role-playing exercises either with a friend or practice in the mirror by
yourself. I personally prefer the mirror option. And just ask yourself what do you
want? What do you bring to the table? Why do you want it? This will build your
confidence in actually using the language on how to negotiate
it'll also build confidence in knowing who you are as well and what you bring
to the professional table.
Stage #6: it's not always about the money. So, is asking for more money the best option for you? Because there are so many other
benefits that you can ask for when negotiating. For example, greater
flexibility in terms of your start and ending time at work or perhaps even more
annual leave or even stocks and share options. These are just a few of the
options that you could consider when negotiating for other benefits at work
Pause the video here and write down five to ten options and benefits that you
could ask your employer for that do not involve money. You'd be surprised what
you can think of.
Now, we've gone through what to negotiate and how to do it but it's important to
know that despite doing everything I've told you your negotiations may not be
successful and that's not necessarily your fault. It could be that your
employers don't have the means to give you more or perhaps they don't want to.
Now walking away is never going to be easy but it's definitely important to
know when to do it. This could be because of financial need market value or simply
what you need to do in order to feel good about the salary you're bringing
home. Ultimately you deserve to earn what you're worth so please don't let the
fear of failing prevent you from trying.
Thanks for joining us for this episode of TRiBE's Toolbox. Make sure you like and
subscribe. Comment down below and let me know what you've learnt and whether
you're going to try a negotiating your salary and please don't forget to check
out the other videos in TRiBE's Toolbox
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