Congratulations! You made it through the interview process and got the job offer! Now, how prepared are you to negotiate the salary? And be honest: Were you even planning to?
We women struggle with salary negotiation and demanding our worth. Unfortunately, this means we leave a lot of money on the table that should be in our bank accounts. Even if the initial salary offer appears to be competitive, we should still negotiate. In fact, companies expect you to negotiate!
So if you haven't gone through a salary negotiation process before or you're confused about where to start, here are four quick tips on how to set yourself up for success and get the coins you deserve:
1. Get Your Market Numbers Together.
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Before entering any negotiations, you need to know your numbers. What is the average salary for the position? How does this amount compare to your current salary? Start putting some concrete figures down on paper.
If you are unsure of how to begin this process, start with conducting research on the market rates for this specific type of position. Online platforms such as Glassdoor.com, Payscale.com, and Salary.com offer excellent (and free) tools to assist you in determining the appropriate market rate for the position.
And don't just look at job titles. Be sure to factor in geographic location, associated cost of living, years of experience, and required credentials in the given field.
Furthermore, compare salaries beyond your current sector and across various industries. For example, the salary for a project manager in healthcare may differ from that of one in IT, and you don't want to potentially undervalue yourself because you didn't expand the scope of your analysis. Doing this essential market research allows you to assess how competitive the initial salary offer was and how much ground you may need to cover in your counteroffer.
2. Pull Your Receipts.
Now that you've analyzed the base market rates, it's time to value your differentiators. What makes you the unicorn this organization has been looking for? In order to make sure that your salary ask is what you truly deserve, it's important to account for the unique value and results that only you can deliver.
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This starts with pulling what I call your receipts i.e. the credentials and qualifications you possess that are above and beyond the market requirements. Consider any additional training, certifications, and courses that have helped to deepen your knowledge base and add to your credibility as an expert. Evaluate any notable achievements or awards you have received that highlight your outstanding performance in the industry.
Take into account any clients, portfolios, or contacts that you may be able to bring over to the new company once you're hired.
Incorporate any additional useful skills that may further set you apart as a candidate, i.e. speaking a different language, or even specialized software or technical expertise. Once you have a holistic view of what you have to offer beyond the base, start applying some numbers to it! But you don't have to do it all on your own. Besides continuing your online research, if you have friends or contacts who are already in the industry or in similar roles, you can also ask their opinion on how valuable your additional qualifications may be.
3. Set Your Bottom Dollar.
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What is your "walk-away" number? This is the minimum salary that you are willing to accept for the role, anything lower is your deal breaker. It is critical to set this floor salary as it establishes the rules of engagement and will keep you grounded throughout the negotiation process. You want to have a baseline to ensure you don't go below where you feel most comfortable. In setting your walk-away number, consider your current salary as well as any financial needs or goals. Remember that companies will always offer a number that will give them the best deal, so ensure that the lowest number you'll take is still worth it for you!
4. Create Your Range.
At this point, you should have a few numbers written down:
- The average market rate(s) for your position (based on key variables, i.e. education, experience, certifications, etc), as well as the top of the market range
- The additional value that your differentiators provide
- Your walk-away number
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Putting these all together will help you create the range that you are willing to negotiate within. Back to our Project Manager example: Let's say the average salary is $105,000, and top of market is $125,000. You've calculated that your additional credentials are worth another $12,000, so your desired salary figure is $105,000 + $12,000 = $117,000. Your walk-away, rock bottom number is $100,000. The salary range I would start with is $105,000 to $125,000. Always keep your walk-away number in your hip pocket, but don't volunteer it prematurely.
With this range, you have plenty of room to negotiate and still get to a number that is comfortable for you.
For more information about Julia Rock, check out Rock Career Development or follow her on Instagram.
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In a xoNecoleexclusive, the iconic actress opens up about embracing this season of her life, new projects, and overall being a “bad motherfucker.” Gabrielle reveals that she was 37 years old when she was diagnosed with perimenopause and is still going through it at 51 years old. Mayo Clinic says perimenopause “refers to the time during which your body makes the natural transition to menopause, marking the end of the reproductive years.”
“I haven't crossed over the next phase just yet, but I think part of it is when you hear any form of menopause, you automatically think of your mother or grandmother. It feels like an old-person thing, but for me, I was 37 and like not understanding what that really meant for me. And I don't think we focus so much on the word menopause without understanding that perimenopause is just the time before menopause,” she tells us.
Gabrielle Union
Photo by Brian Thomas
"But you can experience a lot of the same things during that period that people talk about, that they experienced during menopause. So you could get a hot flash, you could get the weight gain, the hair loss, depression, anxiety, like all of it, mental health challenges, all of that can come, you know, at any stage of the menopausal journey and like for me, I've been in perimenopause like 13, 14 years. When you know, most doctors are like, ‘Oh, but it's usually about ten years, and I'm like, ‘Uhh, I’m still going (laughs).’”
Conversations about perimenopause, fibroids, and all the things that are associated with women’s bodies have often been considered taboo and thus not discussed publicly. However, times are changing, and thanks to the Gabrielle’s and the Tia Mowry’s, more women are having an authentic discourse about women’s health. These open discussions lead to the creation of more safe spaces and support for one another.
“I want to be in community with folks. I don't ever want to feel like I'm on an island about anything. So, if I can help create community where we are lacking, I want to be a part of that,” she says. “So, it's like there's no harm in talking about it. You know what I mean? Like, I was a bad motherfucker before perimenopause. I’m a bad motherfucker now, and I'll be a bad motherfucker after menopause. Know what I’m saying? None of that has to change. How I’m a bad motherfucker, I welcome that part of the change. I'm just getting better and stronger and more intelligent, more wise, more patient, more compassionate, more empathetic. All of that is very, very welcomed, and none of it should be scary.”
The Being Mary Jane star hasn’t been shy about her stance on therapy. If you don’t know, here’s a hint: she’s all for it, and she encourages others to try it as well. She likens therapy to dating by suggesting that you keep looking for the right therapist to match your needs. Two other essential keys to her growth are radical transparency and radical acceptance (though she admits she is still working on the latter).
"I was a bad motherfucker before perimenopause. I’m a bad motherfucker now, and I'll be a bad motherfucker after menopause. Know what I’m saying? None of that has to change. How I’m a bad motherfucker, I welcome that part of the change."
Gabrielle Union and Kaavia Union-Wade
Photo by Monica Schipper/Getty Images
“I hope that a.) you recognize that you're not alone. Seek out help and know that it's okay to be honest about what the hell is happening in your life. That's the only way that you know you can get help, and that's also the only other way that people know that you are in need if there's something going on,” she says, “because we have all these big, very wild, high expectations of people, but if they don't know what they're actually dealing with, they're always going to be failing, and you will always be disappointed. So how about just tell the truth, be transparent, and let people know where you are. So they can be of service, they can be compassionate.”
Gabrielle’s transparency is what makes her so relatable, and has so many people root for her. Whether through her TV and film projects, her memoirs, or her social media, the actress has a knack for making you feel like she’s your homegirl. Scrolling through her Instagram, you see the special moments with her family, exciting new business ventures, and jaw-dropping fashion moments. Throughout her life and career, we’ve seen her evolve in a multitude of ways. From producing films to starting a haircare line to marriage and motherhood, her journey is a story of courage and triumph. And right now, in this season, she’s asking, “What’s next?”
“This is a season of discovery and change. In a billion ways,” says the NAACP Image Award winner. “The notion of like, ‘Oh, so and so changed. They got brand new.’ I want you to be brand new. I want me to be brand new. I want us to be always constantly growing, evolving. Having more clarity, moving with different purpose, like, and all of that is for me very, very welcomed."
"I want you to be brand new. I want me to be brand new. I want us to be always constantly growing, evolving. Having more clarity, moving with different purpose, like, and all of that is for me very, very welcomed."
She continues, “So I'm just trying to figure out what's next. You know what I mean? I'm jumping into what's next. I'm excited going into what's next and new. I'm just sort of embracing all of what life has to offer.”
Look out for Gabrielle in the upcoming indie film Riff Raff, which is a crime comedy starring her and Jennifer Coolidge, and she will also produce The Idea of You, which stars Anne Hathaway.
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Taylor founded Mastermind MGMT, an agency that represents some of Hollywood’s best “image architects” like Roach, Kellon Deryck, and Kollin Carter, who are responsible for creating unforgettable style and beauty moments for celebrities like Zendaya, Megan Thee Stallion, Taraji P. Henson, and more. Taylor and her company possess an array of functions, but her biggest role is to be her client’s advocate. We hear endless stories about how creatives aren’t paid or underpaid in the entertainment industry, but Taylor ensures that her clients get their piece of the pie. The entrepreneur opened up about her company and her non-profit, Mastermind Matters, in an exclusive interview with xoNecole.
“I always say that I'm an artist advocate first, deal closer second. So my primary focus is to just make sure that the artist is getting everything that they deserve, whether it's compensation or, you know, certain accommodations, but just making sure that they have everything that they need to be able to show up and provide the best service that they're hired for,” she explained.
“So you know, in the beginning, it was hard because I didn't have any experience, and the artists who I was working with at the time–we were learning together, meaning neither of us had assisted anyone. We didn't have mentors in our specific fields. So every deal was like a new learning experience for us from the styling side and also from the business side, and so it took, you know, doing some research, using some very creative tactics, to find out information in the industry and just starting to request accommodations that I knew other artists were granted, who maybe didn't look like my artists.”
Photo by Christopher Marrs
Ten years later, there’s still not many people who are doing what Taylor is doing. However, things have gotten easier thanks to the research and connections she made in the beginning. During Mastermind MGMT’s ten-year anniversary celebration, she announced her non-profit, Mastermind Matters, which is a 501(c)(3) non-profit that focuses on helping young entrepreneurs through a 12-week program. The program is divided into “two routes.” The first route is for aspiring creative artists who want to start a business from their talent and all the things they need to learn about business, such as taxes, life insurance, etc. The second route is for practicing creative artists who are already in the industry but need resources such as how to plan for retirement or how to sustain themselves if they can’t work for a short amount of time, i.e., the pandemic.
“I just feel that I'm able to have a business and be successful because of their art as well. And so there are things that I know, I tried to teach it to them but understanding that I can only do so much because I'm not a subject matter expert in those fields,” she said. “So I at least want to be able to provide the resources, and then if they make their grown decision not to do it, then that's on them. But you know, I could be guilt-free and taking advantage of the resources that I'm also providing to them.”
Taylor continues to be an innovator in her industry by always pushing the boundaries of creativity and thinking one step ahead of everyone else. The Chicago-bred businesswoman is moving into the tech space thanks to a new invention created with her clients in mind, and she is looking forward to bigger collaborations in the future. Follow Mastermind MGMT on Instagram @mastermind_mgmt for more information.
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Feature image by Christopher Marrs
