60% of women don't. How to Negotiate Salary / Raise
Channel: Emily Binder
Date: 2022-06-14

60% of women say they've never negotiated their salary—and 72% quit their job instead. Unfortunately, women who fail to negotiate their salaries at the start of their careers could leave up to $2 million on the table over the lifespan of their careers.

Not asking for more money from an employer or client hurts your lifelong earning potential and decreases your ability to build wealth. Women statistically and culturally have struggled with negotiation. We face unique challenges in the workplace. But it's changing, and you can be part of that change.

Award-winning personal finance expert @brittneycastro and I share our own career stories and proven tips for:
-salary negotiation
-how to ask for a raise
-how to raise your rates as a freelancer or consultant
-negotiation tips

Timestamps:
0:50 60% of women never negotiated their salary (CNBC)
1:49 Ask for something that feels uncomfortable
2:55 How freelancers can help others by sharing rates to avoid undercharging
3:25 You need to raise your rates or salary to keep up with inflation (currently 8.6% in May 2022, about 9% in June 2022)
4:46: Tip: get a business manager to negotiate your contracts (as an influencer, talent, or content creator)
5:30 Don't throw out the first number: negotiation 101 - use Glassdoor etc. to research comparable rates for your job title in your city
6:00 How I doubled my salary (a way to get a raise): "Here's the money I made you and/or saved you" - present this in a deck
6:45 Hiring managers legally cannot ask about your current or past compensation in many states
8:00 As a consultant you don't need a rate sheet: each project is different - "you're not a barista" - value driven, not hourly

Resources:
Book: "Never Split the Difference" by Chris Voss: https://amzn.to/3zBmrnw
Free salary comps: https://www.glassdoor.com

More videos like this:
Playlist: https://youtube.com/playlist?list=PL7vJ00pA5bhHW7ZMIII_p6z0SU--t-YSD
https://youtu.be/sUB8J2dabmY
https://youtu.be/5hh7BITmqyg

About Brittney Castro:
Brittney is a leading speaker, host, and brand ambassador and has worked alongside top brands like Chase, Mint, ETrade, CNBC, Gemini, AirBnB, Zoom, Altruist, Refinery29, and more to promote financial literacy via media interviews, video content, celebrity, and expert interviews, TV appearances and more. https://www.brittneycastro.com/more
Follow Brittney:
https://www.instagram.com/brittneycastro/
https://www.tiktok.com/@brittneycastro33

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🎥  Related Videos (personal finance / LLC / career):
https://youtu.be/w-Ar7yF-KT0
https://youtu.be/E3Y0wGfEYkU
https://youtu.be/kT5uUxTtKR0
https://youtu.be/YnKkMzN7Rr8
https://youtu.be/T4Af0juZ31A

Follow me (Emily):
Mini-podcast: “Voice Marketing with Emily Binder”: https://emilybinder.com/podcast
📞 Book a consultation: https://consultation-emily.as.me/personal-finance-llc
Blog: https://emilybinder.com/blog/
Get emails: https://emilybinder.com/email/
https://twitter.com/emilybinder
https://www.instagram.com/beetlemoment/

Sources:
1) "Gender Pay Gap Improvement Slowed During the Pandemic" -Payscale's 2022 State of the Gender Pay Gap Report 3/15/2022: https://www.shrm.org/resourcesandtools/hr-topics/compensation/pages/gender-pay-gap-improvement-slowed-during-the-pandemic.aspx
2) 60% of women say they've never negotiated their salary—and many quit their job instead: https://www.cnbc.com/2020/01/31/women-more-likely-to-change-jobs-to-get-pay-increase.html
3) $2 million lost over lifespan of career: https://www.salary.com/chronicles/why-women-don-t-negotiate/ and https://www.leagueofwomeningovernment.org/2017/08/7274/

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