What's Holding You Back From Your Next Raise?
By Laura Browne
Many women complain that we don't make as much money as the men we work with, but sometimes we hold ourselves back from making more money. In a study conducted by Carnegie Mellon University, researchers found that women tend to undervalue their work more than men and often don't request salary increases when they have the opportunity.
Before you negotiate your next salary increase, you should take time to consider what could hold you back. I've heard women tell me many reasons that they don't ask for more money. Here are some of the common ones:
- It's not "nice" to ask for more money.
Some women have been brought up to think that there is something wrong with discussing salaries and are not comfortable with the topic. This is an important skill that we need to learn. We work hard and deserve to make enough money to take care of ourselves and our families, so we need to get used to the idea of discussing money.
- I will be rewarded for my hard work.
Hard work is important but it's not enough. In many companies, managers are so busy that they don't have time to pay attention to the great work you do unless you TELL THEM clearly what you are doing, how it benefits the company, and how it impacts the bottom line. Look around you. Who are the people that are rewarded? The people that are rewarded tend to be people that talk about the value they bring.
- There's no (or little) money for raises.
There is always money for what the company thinks is important. If you are making a contribution to the company's bottom line, you should be rewarded. If your work is not adding to the bottom line, then you need to find some way to show your value. Certainly, there are times when there is no money for raises. In most cases, it still won't hurt to let your boss know what you are worth so that when there is money available for raises, you will be at the top of the list. And if the company really isn't doing well, it's time to think about your next career move. If the company is losing money, then your job may disappear soon.
- They might say no and then I'll feel bad or embarrassed.
Don't let a possible "no" stop you. You might get a "yes" and then you'll be glad that you asked. And even if you get a "no", so what? That can give you an opportunity to have a discussion to find out what you need to do to get a raise. Just by asking, it shows that you know you are worth more than you are being paid.
Are any of these reasons holding you back from asking for more money? Once you understand potential issues, you can deal with them and start planning what you can do to get your next salary increase.
Laura Browne is the author of a practical and easy-to-use book for women in business, "Why Can't You Communicate Like Me? How Smart Women Get Results At Work," available Amazon.com and Barnes & Noble online. For more Success Tips, go to www.GetHeardAtWork.com. Ms. Browne also helps women be more successful in leading companies through WOMEN Unlimited, a nationally recognized resource for cultivating leadership excellence, www.women-unlimited.com.
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