Tips for Advocating Fair Compensation

If I had a dollar for every man who has walked into my office and told me with utter conviction that what I was paying him was a crime against humanity and would be considered an act of war in some small countries, I would be a billionaire. I’ve never been approached like this by a female employee. I’m not advocating that women do this since it never works for the men who try, but I’m worried still by how quiet women are when it comes to comp conversations. Avoiding the comp conversation is a terrible strategy; so is approaching it like a war crime tribunal at The Hague. Regardless of your gender, here’s what you do:  🧠 Mindset before method. 🧠   Forget your fears. Ditch the imposter syndrome – even if you can only manage to do that for the length of the conversation. You’re in a market. Claim value. If you’re delivering the goods, there is nothing untoward about having a compensation conversation with your boss. (If your boss recoils from a comp conversation, it might be time to find a new one.) 📊 Show up to the table with facts. 📊 Plainly share the projects you’ve been working on. “Here are my contributions, and here are the outcomes that I’ve achieved.” Rehearse it in front of a mirror until you feel confident and clear. Focus on facts, not feelings. 📍Situate yourself.📍 “Here’s my understanding of the role and where it sits in the market. Here are comps.” 💰Make the ask.💰   “I’m looking to be considered for xyz in compensation which I believe is more commensurate with my contributions.” 👎If it’s a no, find out what you need to do to get to a yes. 👍 Look, the answer might be “no” for all sorts of reasons (including the possibility that you have a meaningful amount of equity you’re not ascribing enough value to) – but you can’t walk out of the room (or the Zoom) without a clear understanding of A. Why the answer is no, and B. What you need to accomplish in your role to get to a “yes.” Ask for specifics.

Another day, another conversation with an underpaid woman who wants advice about negotiating her salary. Each conversation is different, but there are two recommendations I always emphasize. First, you are a detective, not a magician. Approach the conversation with curiosity to understand how the other person sees the situation. At the end of the day, you can't make a person pay you more if they don't want to. What you CAN do is figure out WHY they are resisting and see if you can remove the barrier. For example, if you get clues that the person doesn't think your performance warrants more money, you can work to change that perception - perhaps by talking about your wins more broadly or asking others to do that for you. If you sense that the person thinks you're already paid at market, then you might need internal or external market data (perhaps from a competitor). Second, if the conversation ends with a "no" or "let me look into it," you should ask one or both of these questions before you leave the meeting: 1. What would it take for this no to become a yes? This forces the person to verbalize the barriers, and gives you information you can use to get a different answer in the future. 2. When should I follow up with you about this? You want the next move to be in your control. You don't want to sit around for six months wondering if the person is actually looking into your situation, waking up each day hoping that today is the day they get back to you. The waiting will feel much better if you know that you have permission to reach out again at a certain date. If you needed this advice today, I'm sorry. But I am here cheering you on, reminding you that you are worth more. And no matter what happens in the conversation, you will be glad you had it. You got this! #bestadvice #careers #money

It’s officially that time of year when no one knows what year (or day) it is. Companies and teams are spending so much time setting plans and looking to the future in 2025 that they might feel as if it’s no longer 2024 already. But to workers, it can come with a clear advantage — namely, an opportune time to consider negotiating for a raise. I've written extensively about why prices will never -- and should never -- retreat back to pre-pandemic levels. Deflation would mean that there's something seriously wrong with the economy. All of that means, workers will have to rely on their wages catching back up to feel better. And they’re not there yet: 59% of workers said in Bankrate's 2024 Pay Raise Survey that their incomes haven't kept pace with price increases over the past 12 months. While the job market isn't in dire straits, hiring is slowing, and fewer workers are job-hopping and reporting big pay gains — meaning the easiest path to getting a raise may be with your current employer. Here are some strategies to consider: 1️⃣ Focus on performance-based compensation rather than hoping for a cost-of-living adjustment. 2️⃣ Identify your secret weapon—what sets you apart? 3️⃣ Speak your company's language—how does your work drive success? 4️⃣ Research to determine a fair salary range for your role and location. 5️⃣ If negotiations stall, seek more frequent performance reviews to discuss growth. Remember, talking about money is never easy. But your company has likely had the experience of other employers negotiating before, meaning it's likely not going to catch them by surprise. And remember, the worst they can do is say no. When comparing the awkwardness of negotiating with the prospect of continuing to be underpaid, it's clear which comes with the greater opportunity cost. If you have any additional tips or advice, please leave a comment! Read more: https://lnkd.in/eyP7YdvC

I recently coached an executive who was thinking hard about whether to ask for a promotion. She hesitated, caught between ambition and doubt. “I don’t want to seem pushy,” she admitted. “But if I don’t ask, I might be waiting forever.” I shared insights from a Harvard Business Review article that talks about the myths that often hold women back in negotiations. Many of us have been taught to believe that men negotiate more than women, that women must always negotiate pay, or that backlash is inevitable when they do. These myths are misleading and, worse, they reinforce outdated gender norms that limit opportunities. (1) Myth #1: Men Negotiate, Women Don’t Both men and women negotiate—but for different things. Research shows that women negotiate roles, flexibility, and workload as often as men negotiate pay and job offers. The real issue isn’t whether women negotiate, but whether they are met with more resistance when they do. (2) Myth #2: Women Should Always Negotiate Pay The gender wage gap is not just about pay differences—it’s about the types of jobs men and women hold. While women should absolutely advocate for fair pay, supporting their advancement into leadership roles has an even greater impact on closing the wage gap. (3) Myth #3: Backlash Is Inevitable Many women worry that advocating for themselves will make them seem aggressive or unlikeable. While bias exists, leaders can shift the narrative by educating managers and themselves, encouraging broader career negotiations (beyond pay), and normalizing women’s ambition. After talking through these myths and ideas, the executive decided to go ahead and ask for that promotion. But she didn’t just walk in and demand it. Instead, she framed her request strategically: She led with facts – She highlighted her results: “I’ve exceeded my targets for the past two years and led initiatives that were really beneficial to the firm.” (She backed this up with data and quantified the benefits.) She made it a win-win – “With a VP title, I can expand our client base and strengthen key partnerships.” She asked with confidence – Not “Would you consider it?” but “What would it take to make this happen?” She got the promotion. More importantly, she walked away feeling empowered, knowing she had advocated for herself effectively. We are in a unique moment where work is being redefined. If we want to create a more equitable future, we must challenge these outdated myths and reshape how we think about negotiation. #Leadership #Negotiation #CareerGrowth #WomenAtWork #Learning #Confidence https://lnkd.in/eZchz7jN