Negotiating Your Salary: How to Ask for a Raise
Have you ever felt so stuck that you couldn’t afford your life?
To the point where you felt you had to go get a “real” job?
Well, Amy, a freelancer who joined the Financial Freedom for Creatives Club in 2021, felt just like that. Her career was stagnant. And she saw her peers effortlessly rising in the ranks while her financial situation floundered.
With two kids and no reliable source of income, she thought she had no choice but to get a “regular” job.
That was until she heard me say, “Your self-worth is equal to your net worth.”
That was the catalyst Amy needed. This phrase allowed her to go deep into her inner work to transform herself from her money blocks. The best part is, Amy didn’t have to get a “real” job, instead she flew through the ranks surpassing her peers. The icing on the cake is that she became a co-executive producer on a TV series.
Now, her relationship with money and life is full with a newfound sense of harmony. And her values align, which manifests in her career, life, and overall freedom. Just like Amy, it’s time to begin your clear journey toward peace and financial freedom.
So in this blog, we’ll get you to empower yourself with career advice to understand your value. And how to get your next (or first) salary raise as a creative freelancer or entrepreneur.
Below, you’ll find out what it takes for salary negotiation as well as:
Why your personal finance matters and what Equal Pay Day has to do with it
How to set your mindset up for success
Strategies that’ll guide you from pre to post negotiations
Why Asking for a Salary Raise or Rate Increase Matters
You deserve to have the power to live your life and dreams.
The Significance of Equal Pay Day
Equal Pay Day affects every woman whether you’re an employee or self-employed. There is this unconscious stigma that we as women “will” take less as long as everyone is happy.
“This symbolic day denotes how far into the year women must work to be paid what men were paid the previous year. Equal Pay Day 2023 is on March 14 to represent the current state of the gender pay gap: 83% for full-time workers and 77% for all workers (including part-time and seasonal).”
Side note, March 14th is for all women. When they break the data down into different demographics this date moves further, and further and FURTHER into the new year.
And that is why I want you to confidently negotiate your salary to skyrocket your finances.You should not have to work an extra few months past December just to match what men made the previous year.
It’s important to advocate for yourself to help close the gender and racial pay gaps.
The Personal Connection
Equal Pay Days are connected to why I'm a financial coach.
I've known three women in my life who stayed in abusive relationships because they did not have their own money. And they did not feel like they had the means to take care of themselves and their kids.
So it kept them stuck in a place they didn't want to be.
My mission is to empower everyone (especially women and women of color) to be able to make decisions not based on money. But instead, on your dreams, desires, and the dreams you have for your children or future children.
It’s important to stick with your core values and be able to make those choices, rather than feel you have to do this to pay the bills, rent or even put food on the table.
It’s that important for you to be able to support yourself now.
It’s that important for you to be able to support yourself in the future.
And it's that important to have your own means to be able to sustain yourself.
I want to make sure that money isn't keeping or controlling you from living with your values and dreams.
For example, Stefanie, a past client, didn’t see the role money played in her life from impulse spending to feeling guilt. But she got the self-clarity and guidance to negotiate and advocate for her worth. With that shift, she was able to get that yes to have her salary bumped up $17,000 during the pandemic.
Wouldn’t you love an extra $17,000 this year? I know you’re worth it, and I want you to know that too!
How to Level up Your Mindset to Grow Your Personal Finances
Take a minute and let this next sentence really sink in for you as it did for Amy.
Your self-worth is equal to your net worth.
What you believe about who you are and what you bring to the table is the way to look at how much money you will continually make.
So the more you can increase your own self-worth, the easier for someone else to actually see it. Which creates a ripple effect to you making more money too.
The Importance of Research
Knowing your own self-worth is just one part of the equation. When you add research to the mix, it’ll make your negotiation that much more powerful.
No matter what, even when someone says no to you or it "isn't in the budget". That “no” is the beginning of a conversation, and 9 times out of 10, if you can show what value you bring to the role, they can find money in the budget for you.
This holds true when you’ve already talked about a raise—I’ve seen this happen in my own life.
When I was in the first part of my career as a journalist moving to LA, I thought I was advocating for myself by negotiating for $10k more. But after doing some research, I found out that the LA area is *really* expensive and a good negotiation was 20-40% more than I had asked.
So I went to back to the negotiation table and asked for 40% more. And guess what? They gave it to me!
Even if you already pitched a number, you can still take it back. Because who said we can't take it back? Don't put your own limits on the conversation.
We can always change our minds and always advocate for more.
Your Salary Research Key Points:
Research your profession’s industry standards
Review what you bring uniquely to the table
Calculate your living expenses and goals
Practice Your Negotiation Skills
Practice makes perfect, right?
Yes, if whom you practice with is knowledgeable and can critique you for success.
Here’s the thing, practicing with a friend or partner is great. But having an expert that knows how you can tweak things a little bit from a slightly different perspective from you is how you’ll thrive.
And that is how you’ll gain confidence for when it’s time to have that talk for real. The confidence to convey that message to them that you are worth it and to get them to say yes to your request.
Overcoming Your Self-Doubt of Comfort
We’re all human and that little voice in our head will try to protect us from anything uncomfortable. So to overcome this, you’ll need to address your imposter syndrome (complex) to be the advocate you need.
(Fun fact: The correct use of ‘Imposter Syndrome’ is ‘Imposter Complex’ because being an imposter isn’t an illness!)
Here are 3 ways to feel more confident during negotiations:
Do your research to back you up
Practice your talking points with a knowledgeable person, ideally an expert
With a calm mind, visualize all the positive things that will happen after your pay raise
Strategies for an Effortless Salary Negotiation
Now that you have the basics to leap into your empowered self, it’s time to give you some simple strategies to negotiate with.
Build up to improving your personal finance
Keep track of your past experiences and achievements
Be yourself and be honest; Use efficient communication
Provide value and be on top of things
5 Ways to Craft a Persuasive Argument
Use “I” statements instead of “you” so you don’t come across as aggressive
Know what the benefits will be for the person you’re speaking to
Use salary research to back you up
Storytelling helps others understand but don’t go too overboard
After you’ve declared your needs, pause to let others chime in
In the end, you want to create common ground. So you get what you need but the person you’re speaking to also sees the beneficial outcome.
Your Follow-Up Plan
No matter the outcome, come from a place of gratitude.
You just had a conversation at work which can feel draining and give you that “Did I just do that?” feeling.
Yes, you did, and I'm so proud of you!
So clearing the air and getting the ball rolling will make sure you stay accountable to yourself. And your boss or client will respect that you’re keeping on top of things.
Here are 3 follow-up tips:
Send your boss or client a thank you email and clarify any next steps
Keep yourself accountable by setting goals and checking in with your employer to ensure progress
Maintain a positive relationship with this person
And if you didn’t get what you wanted, that’s ok, you can always refine your research and mind to get that raise you deserve.
What Next?
Remember, if we're not advocating for ourselves now at this moment before we start the job, then later on we will feel it in our spirit. You'll start to feel you robbed something from yourself, which is why it's important to be your own advocate.
Believe it or not, there are very few bosses out there that will say, "oh, you deserve so much more than this". Businesses have a budget range when they come to the table to negotiate salaries. If they can get you for a lower price, then they will.
They’re thinking of the bottom line, so it's up to you to make a case on why paying you so much more benefits both them and you.
The first key piece is understanding what you bring to the table. And how you uniquely do it as you – especially when you're in your mid to late career.
So it's time to figure this stuff out!
There are two routes you can take.
One: DIY to get your pay raise
OR
Two: Shortcut your way with career advice from a money coach (who is a negotiation expert, like me).
Now if you said route two, great because we’ll clarify your values and how to get the next raise, so you can understand your worth and confidently advocate for yourself.
When you work with me in a 1:1 strategy session, you’ll get clear step-by-step guidance to negotiate your next (or first) salary raise.
No matter which route you take, I empower you to make more money now! So by next year, the Equal Pay Day gap can be nonexistent.
If you’re ready, let's work together to turn your dream life into reality towards financial freedom.
With Love & Gratitude,
