How to negotiate your pay and earn more money

Talking about money isn’t something that comes naturally to many of us, but there’s one thing for sure: not talking about money is costing you. There are many reasons why the gender pay gap exists, but one of them is this: women don’t ask for money as much as men. 

Put simply, that means that women across the country are leaving money on the table and staying at the same salary whilst men ask for more and receive more. Although certain companies or industries do review remuneration unilaterally, relying on someone else to raise the topic means often, you’re left waiting in the wings for a pay review. Plus, if you work for yourself then only you can increase your rates and ask for the money you deserve.

So if you’re ready to face the conversation head on, here’s how to prepare to ask for more money confidently:

Do your research

The number one way to give yourself the best shot of success in a pay negotiation? Be prepared and go into the conversation confidently. Whenever you ask for a pay rise, rather than simply picking a number out of thin air, there should ideally be a basis for the figure you present. Research other roles that are comparable to your position - there are plenty of websites, such as LinkedIn, where you can find roles and salaries advertised. Look for examples that you can use to demonstrate what you deliver and how much other companies pay for such roles.

Sell your value

It’s easy to get distracted when in a salary negotiation and focus on the reasons why you believe you deserve a pay rise. Unfortunately, however many reasons there may be, ultimately your employer isn’t likely to sign off a pay rise so that you can build your deposit pot quicker, or upgrade your wardrobe. Always flip positions when you negotiate: think about the ask from the employer’s perspective. Why are you valuable to them? How much value do you bring to the company? What have you achieved for them over the last year? Why do they need to hold on to you and give you more money?

Be confident

Confidence is key to negotiating. After all, if you don’t believe why you should get a pay rise, you can’t expect your manager to believe it, either. Before you go into a negotiation, remind yourself of all of the reasons above and why you deserve the rise. Choose a time when you feel calm and confident to have the conversation - perhaps when you’ve had some specific positive feedback, or your part of the company is doing well. Rehearse the conversation in your head and maintain a steady, positive tone throughout.