Why you’re making less money than you could be
Education and experience have little to do with what someone’s paid.
What matters more
What matters far more is the ability to ask, boldly and without hesitation, to be paid a number that makes you nervous to say out loud.
Now I’m not saying you don’t need education and experience. I’m simply saying that alone won’t get you paid, sister. (Or brother.)
Your ability to ask for a salary that feels out of reach is the most important step towards getting it. You must be able to vocalise, boldly and without a hint of self-doubt, what you know you are worth.
Truth is, jobs in the next pay bracket won’t become visible to you until you send a signal to the job market. And that signal is your ask.
With conviction.
With determination.
Without a hint of self doubt.
Why you’re afraid to ask
This is hard for a lot of people because most of us, ironically, spend most of our lives feeling small. Shrinking back. Riddled with self doubt and fear. Somehow afraid to fully stand up straight. Second guessing our abilities, our readiness for a bigger role, and our relevance.
We respond to other people’s insecurities and fears by saddling ourselves down with our own insecurities and fears. We get sucked into a vortex of darkness precicely at the moment we need to turn our back and walk away.
I’m just as guily of this as the next person.
I suppose my upbringing probably had something to do with it — “you’ll always be my little girl.” My education probably had something to do with it too — spending years surrounded by hordes of white guys oozing entitlement in business school. The business press definitely had something to do with it — reading about how studies show women are judged more harshly in the workplace than men when they engage in the same behaviours certainly didn’t boost my self-worth. TV had something to do with it too — I grew up watching Sex and the City and let’s face it, that was hardly a beacon of empowerment. Family expectations also played a role — to this day, my family is more interested in my success as a wife and mother than as an executive.
These influences, and many more, taught me to make myself small so others can feel big.
To accept less. To expect less.
To dim my light.
And that is also why most of us don’t make as much as we could.
It’s not because we’re undervalued. It’s because we undervalue ourselves.
It’s not about how someone sees your experience or education. It’s about how you communicate your worth.
How can you expect to be paid that salary, if you’re not even prepared to say that number out loud to the people with the power to give it to you?
So next time you’re going for a new role, stand up a little straighter.
An effective way to secure a better salary
Instead of playing it safe, try this instead:
- Make 3 calls: Before you kick off a job search, call up three recruiters. Your aim is to gather information, not sell yourself. Talk to them about roles they’re currently recruiting for or recently filled that would fit with what you’re looking for. Make it exploratory. Get as much info as you can. Make sure to ask the salary range for both the open and previous roles. And for those that were filled, ask for the number they were filled at. Try to get at least 3 numbers from each recruiter.
- Talk to your network: Try to have an open conversation about your associates about salary. Even with your co-workers. This is incredibly valuable.
- Start exploring: Once you start your search and start having calls with recruiters or hiring manager, always take a few minutes up front to ask questions about the role. After a few minutes of exploring the role, ask them for the salary range they have for the role. You want to be the person to ask this question — don’t wait for them to do it. They’ll probably be playing it safe and sharing with you what they think is right for you. The recruiter will always, ALWAYS, underestimate you. To unlock the bigger roles, you’ll need to push for them. You’ll need to say something like “Oh interesting, thanks for sharing, that’s lower than expected. I’m in discussion for roles in the range of x-y, do you have anything like that?”
- Anchor: If you’re establishing a new relationship with a recruiter, you may want to open the conversation with a powerful number. This is especially true if you may be currently underpaid. Let’s say you’re currently on 100K but in your research you found roles could pay between 150–210, don’t be afraid to go for the high end. Sure, you may miss out on relevant roles at 150, but you throw yourself into the much smaller pool going after 210.
- Consider a blunt approach. Recruiters are busy. They hate to when candidates waste their time. I’ve been successful with a direct pitch: “I’m looking for a senior Business Development Director or VP role, I have 15 years expereince and looking for salary above 150.” They love it because they immedaitely know weather they can help me or not. We both win.
Remember, an employer wants to get a high quality asset (you) for as little compensation as possible. A recruiter wants to fill the role. Your job is to make it clear you’re the right asset (education + experience) and you’re worth the price tag.
Don’t forget, it’s less crowded at the top.
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