5 Crucial Mental Shifts to Make When Navigating Pay Hurdles in the C-Suite

Over the past few years, more women are reaching the c-suite. While that number is still considerably lower than the number of men in the c-suite, it’s growing, which is a big step forward.

However, pay differences are still a problem everywhere, even in executive positions.

Female executives often make less than male executives in the same position, which is a big issue.

Considering that fact, negotiations are something every woman in the c-suite should know how to do well.

Negotiations are a normal part of business, but there are big differences in the way men and women negotiate, and the results they can get depend on the way they negotiate.

The reason for that is that women are still dealing with assumptions, socialization, and gender discrimination. When a woman stands up for herself, advocates for herself, and negotiates, she is often perceived as pushy, whereas men don’t get that kind of negative treatment.

However, women can get positive results from the negotiation if they know how to do it right.?This one of the areas that I support my clients with, in considering how to approach the negotiations process, and the mindset needed to achieve their desired results.

Negotiating your salary can be hard. But it doesn’t have to be.

It’s important to remember that if you’re aiming for a salary increase, you’re not the only one negotiating, so is the organization. So, think about how you can uniquely position yourself to be the solution to the problem they are trying to solve.

I would also suggest that you consider these other realities about the negotiations process that will help you to shift your mindset:

Mindset Reality Shift #1: Successful negotiation is 90% mindset, and 10% strategy.

What I mean by that is, if you're in tune with what thoughts and attitudes are driving your behaviors and actions, you can always be sure that you are putting your best foot forward. Think about how you view the negotiations process, are you:

Fearful

Anxious

Wanting to Escape

Any or all of these can actually manifest when you start speaking out loud about the outcome that you have attached to the process.

I teach my clients, to think of negotiating as a conversation; and that the focus of this conversation is to add value.

Ask yourself:

• In what way can you add value to the other party?
• How can you ask for what you want, and the request be met?
• How can both parties walk away feeling valued, and what's the best possible outcome?
• What's the worst possible outcome, and what am I prepared to do?

Mindset Reality Shift #2: You can't avoid the money conversation.

Negotiating your salary is a crucial part of your job search - regardless of your role.

Mindset Reality Shift #3: You may not get it right every time.

Negotiating a salary at a job interview is an art and a skill that you need to develop over time.

Mindset Reality Shift #4: Don't show up unprepared for the money conversation.

While there are some general rules for how to negotiate a salary, research your company as much as possible - especially if you’re not familiar with it. Also, be sure to keep in mind that just because they give you a salary range doesn't mean you should assume they're going to stick to it.

In other words, don't assume that they won't change their mind and offer you more.

Mindset Reality Shift #5: If the money isn't right, don't be afraid to put your own needs first.

You also need to be willing to walk away from a job offer if the situation isn't right for you. Many women have been turned down for jobs because the employer didn't think their salary was "fair" for the position. This shouldn't stop you from advocating for yourself during the negotiations process. Sometimes you must consider how the remainder of your employee experience will play out, if you begin the relationship feeling undervalued.

Studies show that 60% of women don’t negotiate the initial offer, which is a huge number.?

As we already mentioned above, the business world is still full of assumptions and gender discrimination, and women executives get judged for advocating for themselves, whereas men don’t. So, many women are afraid to negotiate, because they don’t want to be judged, disliked, or turned down for the role completely.

However, you can’t let that fear stop you from negotiating.?Female executives who are not comfortable asking for pay raises leave money on the table. According to the Pew Research Center, female executives in just one year lag 19 percent behind what their male counterparts make. With that stat, it can be impossible to feel you're making the right amount of money. Women in the c-suite don't always negotiate and ask for things because they can be afraid of backlash or being labeled pushy.

Also, it's harder to catch up financially in your career if you start out behind, so learning how to effectively negotiate as early as possible in your career will help you. According to the latest research it indicates that the average woman stands to lose over $400k during the course of a 40 year career, due to pay inequities. That number is even more staggering for women of color, with African American and Latina women losing over $880-1million dollars over the course of their career.

As you move up the corporate ladder into senior leadership, negotiating is not only normal but expected.

While it’s not certain you will win the negotiation, it’s still important you try. You can always negotiate again in 3-6 months.

Remember, if you're offer is rejected now, it doesn’t mean that it won't be accepted the next time. Consider a counter offer, as a continued conversation.

My goal with this article is that you would feel empowered to ask for what you're worth and expect to get it. While there is more room for women to ascend the corporate ladder, it is still important that women feel confident enough to ask for their true value. I believe that feeling that you are worthy of the position, that you are delivering for the company, and that you deserve what you’re asking for will yield a productive and successful outcome. All you have to do is believe it!

If you’re a woman in a c-suite or senior leadership role wanting to expand your negotiation skills and learn how to navigate the corporate culture, apply for a 30-minute consultation here .