Negotiating an offer? Ask for more and you might get it!
Are you negotiating your starting salary when you land a new job? If not, you might be missing out on a higher salary. A new survey from the Pew Research Center found that around two-thirds of respondents who negotiated their starting salaries received more than they were initially offered. However, the outcomes were slightly less favorable for women. The study surveyed 5,188 U.S. workers who are employed either full- or part-time and aren’t self-employed.
The results of the survey showed that out of all workers who asked for higher pay, 28% received the new amount they requested. Meanwhile, 38% were offered more than what was first suggested but less than what they requested. Only the remaining third received the initial offer. While the results seem to indicate that negotiating for a higher salary pays off, just 30% of respondents recalled asking for a higher salary the last time they were hired for a job. Men were slightly more likely than women to have asked for a higher salary, but the gap was not statistically significant.
It’s worth noting that women face more obstacles and worry more about how they will be perceived when they negotiate. The survey showed that 42% of women felt uncomfortable asking for a higher salary, compared to only 33% of men. Additionally, 38% of women who asked for a higher salary didn’t receive more pay, while only 31% of men who negotiated were stuck with their initial offer.
Despite this, the survey’s relatively narrower difference between men and women who asked for higher starting salaries could be a sign that the focus on pay equity is having an impact. It’s also worth noting that pay transparency laws that require employers to post pay ranges in job ads, which have gone into effect in places such as Colorado, California, and New York City, could also be having an impact. By getting more information on the pay ranges companies are willing to pay, it’s possible that more employees will feel comfortable negotiating for higher salaries over time.
Playing the devil’s advocate, however, it’s important to note that negotiating for a higher salary can sometimes be risky. Some employers might see it as a sign that you’re not committed to the company or that you’re overvaluing yourself. In some cases, it might even lead to the employer rescinding the job offer. It’s also worth noting that negotiating for a higher salary is not always possible, especially if the job is in a highly competitive field or if the employer has set pay rates.
In conclusion, while negotiating for a higher starting salary can pay off, it’s important to weigh the risks and benefits before making a decision. If you do decide to negotiate, it’s important to be prepared, do your research, and know your worth. By doing so, you might just land a better salary than you would have otherwise.