Class 12

Wage gap for all races

16%

Wage gap for Asians

19%

Wage gap for White Non-Hispanic

20%

Wage gap for black

4%

Wage gap for hispanic

13%

What is the cost of avoiding negotiation

• Receive lower salaries and fewer benefts than the employers was willing to pay

• Think they need to choose between a good offer and a good relationship

A study of MBA graduates (Gerhart and Rynes, 1991) found that on average, when people negotiate:

• Women receive 2.7% higher salaries

• Men receive 4.3% higher salaries

What is the result for women if they negotiate ONCE at the beginning of their career

women will earn $1,040,917 MORE in the course of their career

What is the result for men if they negotiate ONCE at the beginning of their career

Men will earn $1,714,779 MORE in the course of their career

Which gender has the most fear of asking based on research?

Women tend to show that they have more anxiety around negotation.

Why does Construction have the highest fair wage compared to others?

Construction is part of the Union and are required to have to pay fair wages

Negotiating a Raise

Know your value

Know the (exact number

Be Ready

Plan the right timing

Prepare a one-page “brag sheet.”

Practice

Set meetings for Thursday

Start with questions

Show what you can do

Try thinking about someone else

Stay positive, not pushy

Put your number out first( But not for a job offer though!)

Why should you start a meeting with your boss on Thursday?

Because it is the best day where it is close to the end of the weekday and there is nothing pressing on the agenda, allowing for a more productive conversation.