Negotiating for equal pay or a pay increase can be a daunting task, but it’s important to remember that you are not alone. Here are some practical tips that can help you get started:

1. Do your research

Before entering into any negotiation, it’s essential to do your homework. This means being aware of the current market rate for your position. This way, you can come to the table armed with data to support your case.

2. Start from a position of strength

It’s vital to start from a position of strength. This means having a clear understanding of what you want and being confident in asking for it. It also means being prepared.

Knowing how your performance has impacted the business in terms of revenue, market share, business efficiency, lack of staff turnover, etc., and presenting this effectively and objectively will go a long way to helping you negotiate an increase.

3. Practice your presentation.

It’s important to be well-prepared for any negotiation. This means practicing your talking points in advance. Being confident and articulate will only serve to strengthen your case.

It may sound silly, but practicing with a trusted mentor or advisor, presenting in front of a mirror, or even recording your delivery and reviewing it afterward will help you polish your delivery.

4. Know what outcome you will be happy with.

If you don’t get what you want, know the next steps. Will you continue to negotiate, or will you walk away? It’s essential to have a clear plan in place so that you’re not left feeling disappointed.

5. If all else fails, ask for a review period and agree upon KPIs.

Finally, if you’re unable to come to an agreement during the negotiation process, consider asking for a review period within a set period, whether it be 3, 6, 9, or 12 months. A time in the near future that you can revisit your performance and compensation. Ideally, setting KPIs together that, if met, will provide for grounds for a pay increase.

If budget is an issue, in the immediate term, a trend within the new employment landscape is to look at ways you can improve work/life balance. e.g., negotiating to have one day off a month or every Friday afternoon to attend an activity.

A final thought:

“A small pay discrepancy between men’s and women’s salaries for the same job may seem inconsequential. But over the years, salary discrimination adds up to a significantly smaller pension.” – Madeleine M. Kunin, Swiss-born American diplomat, author, and politician

If this isn’t enough to get us to consider negotiating equal pay, I am not sure what is.