“JOB SEEKERS DON’T AGREE ON HOW THEY FEEL ABOUT NEGOTIATING — 46% ARE UNCOMFORTABLE DOING IT, WHILE 51% ARE COMFORTABLE”JOBVITE JOB SEEKER NATION REPORT
Let’s face it: negotiating a job offer during the interview process can bring even the most confident and collected person to a nail-biting state of paralyzed anxiety. Why? It’s simple…just like interviewing, negotiating is something people don’t do very often. Some people spend years or even decades without attempting to negotiate their job offers…and they pay dearly for this major career blunder.
Here’s the good news. 2019 is an amazing year to negotiate, because the stats are in: if there was ever a time to earn more, it’s now.
In this article, we’ll provide you with the research you need to feel confident in asking for a higher salary. With those figures in mind, you can prepare yourself for your most successful salary increase yet.
THE NEGOTIATING ODDS ARE IN YOUR FAVOR
“JUST A THIRD OF JOB SEEKERS NEGOTIATED SALARY AT THEIR CURRENT OR MOST RECENT JOB — BUT FOR THOSE WHO DID, 85% REPORT RECEIVING HIGHER PAY”– JOBVITE JOB SEEKER NATION REPORT
The research is clear: when job seekers negotiate for a salary increase, they usually get it. In fact, jobvites Job Seeker Nation Report states that a whopping 85% of cases are granted the increase they ask for. Those are great odds, and it means you should likely be seriously considering asking for more money in your job search this year.
Out of those that did negotiate, 44% received a 5-10% increase in salary, and 21% received a 11-20% increase. Think about that…
Let’s pretend you started at $50,000.
Add 10% in 2019 to arrive at $55,000
Add in 10% every year for the next 10 years…and you’ll arrive at $100,000.
That’s not so shabby!
Now imagine NEVER asking for a salary increase, or only asking every five years or so.
You catch my drift…it’s a big dent in your ability to earn NOW and well into the future.
Case in point: ASK FOR A SALARY INCREASE + NEGOTIATE YOUR JOB OFFERS! The stats are on your side and you are more likely to receive it.
WOMEN: IT’S TIME TO EARN WHAT YOU DESERVE!
“ONLY A QUARTER OF FEMALE JOB SEEKERS NEGOTIATED THEIR SALARIES—COMPARED TO 35% OF MEN”– JOBVITE JOB SEEKER NATION REPORT
There’s a multitude of reasons why the gender wage gap exists, and yes, women still make less than men. However, one statistic from the Jobseeker Nation Report is extremely interesting when it comes to negotiating—women don’t ask as often as men do.
If women start out earning less, it’s even more crucial that they negotiate harder for salary increases, NOT less than their male counterparts. Over time, failing to negotiate will have an even greater detrimental effect in a woman’s overall earning potential.
Another interesting aspect of this report states that 86% of women were successful in negotiating—whereas men were 85% successful.
So, while sexism and the gender wage gap won’t likely be wiped out in 2019 (unfortunately!), women can still advocate for themselves to make as much money as possible.
TAKE A MORE AMBITIOUS APPROACH AND GET ANOTHER OFFER.
“MORE MALE JOB SEEKERS HAVE USED AN OFFER FROM ANOTHER COMPANY TO NEGOTIATE SALARY AT THEIR CURRENT COMPANY, COMPARED WITH FEMALE JOB SEEKERS”– JOBVITE JOB SEEKER NATION REPORT
According to the report, 26% of male professionals used the tactic of leveraging other offers to make more at their current position, compared with 17% of women.
While this might be considered a bit of a risky move, it’s never a bad idea to strategically get other offers. This not only demonstrates that you’re in demand, it compels your company to keep you. Think about it this way: hiring costs time, energy, and money. The benefit of keeping you at a higher salary is even more compelling when you add in the fact that replacing you is going to be a huge headache for the company.
Of course, the better offer you get from another company, the more money you can ask of your current company.
ACTIONS TO TAKE NOW:
Now that you’re empowered to ask for more, let these articles help you figure out HOW.