Here's How Women Can Overcome Fear and Ask for Fair Compensation

Women often face unique challenges when it comes to advocating for themselves in the workplace. According to a recent study by job listings site Indeed, more than 50 percent of women worldwide have never asked for a raise, with various factors such as lack of confidence and fear of negative consequences contributing to this trend.

Among the 43% of women who did ask for a raise, an overwhelming three out of four received a salary increase. Moreover, the survey, which gathered responses from over 14,500 women across 11 countries, found that 61% of women globally feel they need more effort to earn recognition than their male counterparts.

Do Your Research

Before engaging in a salary negotiation, it is essential to gather relevant data on salary benchmarks for your role. Utilize online resources and seek insights from industry peers to ensure you have a comprehensive understanding of your market value.

Pooja Chhabria, career expert and Asia-Pacific head of editorial at LinkedIn said, "It’s imperative to have clarity of thought about what you think your compensation should be prior to the discussion." 

Be Confident

While initiating a salary conversation may seem daunting, thorough preparation and practice can instill confidence. "Women generally find it more of a challenge to self-advocate for a promotion and/or pay raise," Aileen Tan, chief human resources officer with AIA Singapore, stated.

Consider rehearsing with a trusted friend or mentor to refine your delivery and address potential objections. Moreover, understanding your value and aligning your goals with those of your manager and company can further bolster your confidence during negotiations.

Prepare Your Pitch

A compelling pitch is essential for articulating your value proposition and justifying your salary increase. Highlight specific achievements and be ready to address any concerns or constraints related to budget limitations. 

"Be very clear about what is it that you’re going to tell your manager, starting with showcasing your value [and] giving examples of industry benchmarks. It’s also important to address concerns where there could be constraints around budgets," Chhabria suggested.

Schedule a Meeting

Approach salary negotiations strategically by scheduling a dedicated meeting in advance. It is important to communicate your intention to discuss compensation and career development, ensuring that both you and your manager are adequately prepared. 

"Communicate the impact that you’ve driven through your role, through your work, through the results that you’ve driven, tying it back to what the company and your team objectives are,' Chhabria said.

Showcase Your Value

During the negotiation, emphasize your contributions and tangible impact within the organization. Provide concrete examples of how you have contributed to problem-solving and achieved positive outcomes.

Furthermore, quantifying your achievements with relevant metrics can lend credibility to your arguments and strengthen your negotiating position.

Maintain Professionalism

While navigating salary discussions, it is essential to maintain a professional demeanor. Express appreciation for the opportunity to engage in the conversation and remain open to constructive feedback. Moreover, avoid emotive statements and instead focus on presenting a well-reasoned case for your desired salary increase.

In many workplaces, there's still a pervasive gender pay gap, where women earn less than men for the same work. This longstanding disparity can make women feel undervalued and hesitant to negotiate for higher pay.

However, believing in oneself is equally important. As Tan says, "I learned early in my career that 'nothing ventured, nothing gained.' It is equally important to be willing to raise your hands and step out of your comfort zone because all opportunities will come with its own set of risks."