A successful job search typically ends with two questions: When do I start and what’s my salary? While both answers boil down to a number, starting dates tend to be more straightforward. Pay negotiations, on the other hand, are fraught with anxiety — so much so that many Gen Zers say that they plan to avoid them altogether . Between June and July 2023, Handshake — an online recruiting and networking platform — surveyed more than 1,000 undergrad students across 440 institutions in the U.S. We found that only one in four members of the class of 2024 plan to negotiate their salary, and women are much less likely to do so than men. Sixty-five percent of women vs. 57% of men said they fear losing a job offer if they negotiate. Sixty percent of women vs. 52% of men said they don’t want to risk making a bad impression. While about a third of women vs. a half of men said they’re confident in their negotiating abilities, women still tend to expect lower salaries (about $6,200 less on average) than men working in similar roles. The problem is that avoiding salary negotiations — especially when you first enter the workforce — can have long-term consequences. Declining to push for higher pay can cost you around $1 million over a lifetime. The class of 2024 is expected to enter an uncertain economy, and more than half of 2024 graduates in the U.S. expect to carry student loan debt. This means your initial salary discussions will count, a lot. Knowing how to negotiate effectively is important for everyone. But it’s especially critical for women, who unfortunately are more likely to face pushback when they negotiate (and less likely to get what they ask for ). If you’re a woman entering the workforce and you’re new to negotiating, there are a few things you can do to prepare yourself, build confidence, and beat the odds. Do your homework. Spend some time investigating pay ranges for entry-level jobs in your industry and area. Pay transparency laws have made salary information more widely available than ever before, and even if your state lacks this legislation, many employers are voluntarily disclosing pay ranges to boost their recruiting efforts. Our own platform has seen a surge of postings that include salary information in the past few years. Today, more than 70% of full-time job listings on Handshake include salary details. The same is true of most jobs on other leading platforms. Knowing approximate salary ranges for a role before you interview will take some of the guesswork out of your negotiation and help you decide whether the initial offer is fair. It also gives you a starting point to work from when suggesting a counteroffer. For instance, let’s say you’re offered a salary of $80,000, when your market research shows that the average range for similar positions in your location is $90,000 to $100,000. Here’s what you could say: “I’ve looked into salaries for similar jobs at other companies in our area, and most fall between $90K and $100K. I’m excited about the other details of your offer, but I’d feel better if we could get the salary closer to the middle of that range.” If your market research for the role falls outside of the band that the employer lists in the job description, you can still share your findings and use them as a starting point to negotiate for other benefits (more on that below). You may also want to ask for more information about why the listed salary is below market range. Some employers, such as non-profits, have sound financial reasons for paying below market rate, and may be able to share how they’ve helped other employees reconcile that gap. Consider the full package. When you receive an initial offer, it will usually be in writing. Read it carefully and understand everything listed so you can compare it with your market research and other offers you’re considering. While salary is a major piece of any job offer, hiring packages also include other benefits such as health care, bonuses, learning and development stipends, paid time off, and 401(k) matching. These benefits could be subject to negotiation as well, and depending on what you value, may be even more important to you. For instance, let’s say you’re offered a role that you’re excited about, but the salary isn’t enough to cover the cost of living in the city where the job is located. What can you negotiate to make it work for you? Perhaps the company can offer you a housing stipend or a signing bonus to help with relocation costs. Or maybe cost of living isn’t a big issue, and you’re open to starting at a lower salary as long as you’re confident you’ll have a good work-life balance. In this case, you may prefer to negotiate more paid vacation days instead of a higher paycheck. Clearly communicate your worth. At the end of the day, negotiating your salary and other benefits is all about convincing the employer of the value you’ll add to their organization. If you’re not happy with the initial offer, you should be able tell a persuasive story about why your experience makes you a great fit for the role and why your skills are worth the salary adjustments and benefit changes you may be asking for. To do that, you should be able to connect the dots between the skills you’ve gained through courses and internships and the qualifications in the job description. This will put you in a strong position prior to the negotiation itself. Pay close attention to your tone and framing when you talk about your qualifications. You want to strike the right balance between humility and confidence, which can be especially tricky for women . Lead with specific, objective facts. Don’t say: “I’m asking for more money because I have a lot of relevant experience.” Instead, get into the details and use evidence to make your case: “The projects I worked on during my internship were very similar to the work I’d be doing here. One of my main responsibilities was gathering customer data and translating it into learnings and insights for my former boss. I really enjoyed that work. It’s part of what interested me in this role, and I’m confident that I can add value from day one.” Remember to practice what you’re going to say in advance, ideally with a friend or mentor. A little prep will help you gain confidence and deliver your pitch clearly and concisely when the time comes. Don’t apologize for negotiating. Asking for a higher salary can be uncomfortable. To diffuse tension, you might be tempted to lean on phrases like “I know I’m asking for a lot” or “I don’t want to be difficult.” But the more you apologize, the more it will seem like you don’t believe you deserve what you’re asking for — and if you aren’t confident that your proposal is fair, you’ll have a much harder time convincing an employer that it is. Because women are often socialized to be deferential from a young age , we’re more likely to feel the urge to apologize when negotiating — even if we don’t believe we should be sorry in the first place. To break this habit, remind yourself that negotiating is a common practice and something most employers expect. Be patient with yourself along the way. Like all habits that need breaking, it will take practice. Remember that a salary negotiation can be a terrific opportunity to demonstrate your maturity and ability to navigate difficult conversations to your new boss. If you enter it respectfully, you have nothing to be sorry for.
