Early salary negotiations have a huge impact on lifetime earning potential, but young workers often don't feel empowered to negotiate. PayScale has free resources that college career centers can use to help students understand their worth in the marketplace, research salaries online and overcome apprehension with real, accurate salary data.
3. Early Salary Negotiations Are
Crucial
• Salary plateaus
after age 40,
often earlier for
women.
• Negotiating
your salary
early has a
HUGE impact
on future
earnings
4. "... a 25-year-old who negotiated
a starting salary of $55,000 will
earn $634,000 more than a non-
negotiator who accepted an
initial offer of $50,000.”
Oh snap.
- Fast Company
5. But Millennials Aren’t
Negotiating
• Only 37% of
millennials have
asked for a raise
• 69% of those that did
ask for a raise got a
pay increase – 43%
got the raise they
asked for!
• 31% of female
millennials say they
have never negotiated
because they are
6. The Gender Wage Job Gap
• The gender wage
gap is real, but it
may not be what
you think it is
• In general, men
earn 3% to 7%
more than women
doing the same job
with the same
experience.
• The gap grows as
job titles increase
7. “Women worry that pushing for more
money will damage their image.
Research shows they're right to be
concerned: Both male and female
managers are less likely to want to
work with women who negotiate
during a job interview.”
- Ashley Milne-Tyte, Planet Money
#TheStruggleIsReal
9. Understand Your Worth
• 83% of people
who say they are
underemployed
say it is because
they are
underpaid
• 55% of people
who say they are
underpaid are
actually paid
fairly for their
10. #WorthIt
of people who told us they asked for
raises reported receiving an increase in
pay.
75%
11.
12.
13. 1. What you are worth
2. What they are willing to pay
you
Negotiation 101
14. Use the PayScale
Research Center to find
out how much different
jobs pay, and how
salaries are affected by
• Experience
• Skills
• Location
• Employer
Use PayScale
to Research
Salaries
15. Take the PayScale Survey
Determine How Much YOU
Should Earn in That Role
22. Stick to a
Script: How to
Ask
“Thank you so much
– I am excited about
the prospect of joining
the [Company Name]
team. However, I’ve
done some research
and feel that with my
qualifications, I
should be earning
[$xxx] in this role.
Can you come up
with a package that
meets this number?”
23. Stick to a
Script: Explain
Why You’re
Awesome
“Not only do I have
[all the standard
requirements that
everyone else has] +
but I also possess
[the following unique
traits that make me a
better candidate and
worth more money].”
- Jim Hopkinson (author of Salary
Tutor), PayScale Salary Negotiation
Guide contributor