Everything in life is negotiable: your salary, the final price you pay for a car, and even the amount of time you spend with a mate. The secret to achieving success in everyday negotiations is to know what you want and ask for it!
Many women avoid using their bargaining power due to a lack of confidence and a fear of rejection proving to be costly, especially when it comes to their careers. According to the U.S. Census Bureau, the average woman working full-time only earns 77 cents for every dollar that a man makes. Women have to “act as their own agent,” says Alison Covarrubias, founder of the The Hatch Network. “Pretend you are speaking on the behalf of your sister or best friend.”
Upgrade Your Income
“Negotiating can be a huge source of empowerment and enhance your life in many ways,” says Sharon Kedar, co-author of On My Own Two Feet: A Modern Girl’s Guide to Personal Finance. Kedar suggests the best time to negotiate salary is when receiving your initial job offer. She adds that the most effective way to tip the scales in your favor is to do your homework. Before interviewing, make sure you’ve done your research on the typical salary range for your desired position using Web sites such as Salary.com. Once the offer is on the table, thank your perspective employer for the opportunity and convey your enthusiasm for becoming a part of the team. Then advise your research indicates that the typical pay range for the position is “x” amount of dollars and that’s where you’d like to be in terms of compensation.
Your strategy when asking for a raise should be to present the facts, says Kedar. For successful negotiation, a woman needs to know her worth and understand her significance to the company. You can demonstrate your value by documenting your achievements and contributions. While it’s important to remain assertive, it’s equally advantageous to approach this topic with a sense of gratitude. Avoid giving an ultimatum, warns Kedar, it’s not effective and could actually backfire – even put you out of a job.
Maximize Your Spending Power
Before heading to the dealership to buy that brand new car, establish a budget. Most likely, you’ll have to take out a car loan in which case you should shop around. Gather quotes from various Web sites such as Autoweb.comand Carsdirect.com. Kedar recommends keeping car-related expenses — purchase price, gas, insurance parking tolls and maintenance — to 10 percent or less of your total gross income. For example, if your annual income is $40,000 and you’ve qualified for an eight percent interest rate on a car loan, the total purchase price of the car should be no more than $14, 400. Once you’ve determined how much you can afford, proceed to the dealership with a friend or family member for support.
Set boundaries on your relationships
While negotiating with your partner may seem unromantic, it’s important to communicate your needs and wants. Make yourself a priority and set boundaries before entering relationships. If you have a certain night
you like to hang out with friends or go to the gym, stick to your schedule. Let your mate know that while you enjoy their company, you need personal time to pursue side hobbies and interests. Setting limitations will help you maintain your self-identity and get the love you deserve instead of what you’re willing to accept.
From your boss, to your boyfriend, to the car salesman at the dealership, opportunities for negotiation are always lurking in the background. Your ability to stand firm in what you want and to recognize your true worth could be the difference between a fulfilling and prosperous life and complete misery.