Caitlin Boston asks for a raise but is told she isn't mature enough. She uncovers unfair pay disparities with her colleagues. She recognizes her worth and demands fair pay, eventually leaving the company. Tips are given on negotiating higher pay and closing the wage gap, as well as asking important questions during salary negotiations.
Thorough research and effective negotiation can lead to a significant increase in salary and financial freedom.
Preparation, asking questions, and taking breaks during negotiation are key strategies for successful salary negotiations.
Deep dives
Negotiating for a Pay Raise
Caitlin Boston, a user experience researcher, prepared herself with a well-documented list of achievements and reasons for a raise before approaching her boss. However, she was met with the surprising response that she was not mature enough for a pay increase. Feeling undervalued, Caitlin discovered that three of her colleagues, all women of color, with similar qualifications, were also making the same amount of money. This realization prompted Caitlin to seek new job opportunities and negotiate her salary more effectively. With thorough research and the support of LinkedIn contacts, Caitlin successfully secured a job offer with a 41% increase in salary, allowing her to pay off $120,000 worth of student debt in just two years.
Expert Tips for Negotiating Higher Pay
Carrie Minklemeadow, a negotiation expert, emphasizes the importance of preparation when negotiating for higher pay. This involves researching industry salary standards and understanding your own value. She advises candidates to write a script for the negotiation, rehearsing their points and expected counterarguments. Asking questions during the negotiation is also crucial, including inquiring about the reasoning behind the initial offer and seeking to understand the company's budget and compensation structure. Lastly, taking a break to consider an offer or counteroffer is recommended to make well-informed decisions.
Navigating Negotiations and Realistic Expectations
While negotiating for higher pay is important, sometimes compromises need to be made, as not all employers are willing to budge. It is important to be realistic and consider the broader job market and circumstances. Nevertheless, developing negotiation skills and advocating for oneself is valuable in empowering individuals to recognize their worth and strive for fairness in the workplace.
Caitlin Boston asked for a raise. Her boss gave her a hard no. Then she made it her mission to figure out what she was worth… and to get paid. Plus: we teach you how to get paid too.
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