Power Suits and the Power of Negotiation

March 25, 2015

DSC_0818

Current status:

feeling like a boss.
So I dedicate this post to all of my aspiring lady bosses.

DSC_0823A few years ago, Linda Babcock conducted a study for her book, Women Don’t Ask.

She found a 7.6% difference in salaries between men and women with MBA degrees (pretty depressing stats for a current female MBA candidate).

The reason? Well sexism aside, she also found another staggering statistic –
ONLY 7% of women, compared to 57% of men, had attempted to negotiate their salaries.
DSC_0844
Now,

I don’t know about you but the last time I stepped into my boss’s office for “the talk” AKA the I need more money talk, I thought I was going to have a panic attack. And judging from these statistics I am not alone.

I’d like to think that I am pretty comfortable in social situations, with public speaking, and with discussing other issues with my boss – however when it comes to pay it seems like my brain just decides to go into reset mode. I was reflecting upon this experience when I found a great article on Forbes about the power of negotiation – a set of skills so many of us women never learn.

DSC_0860

The Power of Negotiation

If we’re going to close this wage gap we need to start by becoming expert negotiators. So put your big girl pants on and let’s do it.

1. To start, we are our own worst enemy. Before we do anything we need to raise our expectations – know your worth and educate yourself. You need to know what the going rate is in the job market for the skills you have to offer and the position you’re looking to fill. I’m going to use a cliche here (#sorrynotsorry) – knowledge is power.

2. Have you ever noticed how badass of a negotiator you are when you’re negotiating on behalf of someone else? Like when it has to do with your child’s wellbeing, defending your team, or standing up for your best friend? I know I turn into a lady version of Al Capone…lol That’s because this doesn’t seem selfish (to you or the party you’re negotiating with). So you need to apply the same logic to negotiating on your own behalf. Frame your negotiations based on how you are going to help the other party – think you need these resources to help them. This isn’t about you it’s about the welfare of the organization.

3. Keep your options open. You wouldn’t settle on the perfect pair of shoes without shopping around would you? Similarly, you should shop around for a job too. The more options you have the more empowered you feel to ask for the things you need to be happy at a particular job. And just like a Birkin bag, the more in demand you are the more valuable you become.

DSC_0861DSC_0866
Lastly, be confident. You are a boss. Dress like a boss. Think like a boss. And. Own. It. Do your homework and prepare to defend yourself and what you can bring to the table. Believe in yourselves as much as I believe in you.

Ingredients:
Dress Shirt: H&M
Wide Leg Pants: H&M
White Pumps: Rampage (Similar Style)
A Healthy Dose of Confidence
Your Newly Minted Negotiation Skills

If you’d like to read the article: click here.
 
I would love to hear your negotiation experiences & tips so please share in the comments below.
By the way, Hannah and I are taking requests for future posts so please let us know
what you’d like to see next in the comments below.

Love,

Blog Signature Patricia

0 comments

Leave a Comment

All rights reserved © The Fashion Cookbook · Theme by Blogmilk + Coded by Brandi Bernoskie

Branding by Veda House