Timing Is Everything
The clock is ticking on budgets being solidified for 2017 and if your increase is not factored into the new budgets, you will have another year to wait to get your increase considered. So, if you need a raise, this is your chance to beat other employees to the punch. Employers will only give out so many increases, and the employees that are approved first will be the employees that get the raise.
As the #BossInHeels, my personal mission is to empower women to run the world by showing them how to own their unique strengths to achieve success. Consequently, I developed my own website, heathermonahan.com, which is dedicated to providing insight into how women can succeed in business – and in life – through what I refer to as the ‘Monahan Method.’ I launched this social media initiative to motivate, inspire and teach women how to get ahead, and as a result, I have mentored various women and continue to work with these mentees monthly.
With over twenty years of experience in the corporate world, my tireless passion and hard-won wisdom has enabled me to be able to speak to other women with sage, firsthand experience. Additionally, as a single mother, I deeply empathize with the multitude of demands that women must meet every day. Transparency around my struggles as a single mom, my own life challenges and successes, allows me to connect with women, celebrate their attributes and teach them to leverage these traits in their favor. My goal is to inspire women to embrace their inner powerhouse so they too, may be unstoppable. Even if this means having to take a cue from our male counterparts here and there.
The reason I say this is because as someone who has decades of experience as a hiring manager, I have come to realize that there are several differences between how men and women approach asking for a raise and what universally works.
I have observed countless men and women position themselves for a raise and in every instance – either the employee sold the organization on why they deserved the raise – or the company sold them on why they couldn’t receive a raise at that time (usually told to women more often than not). But, don’t despair, there’s still hope, as outlined below.
Timing Is Everything
Mars’ Money vs Venus’ Money
No matter your gender, asking for a raise typically opens up a great conversation to review your accomplishments and revisit expectations for your position. But, the conversation around compensation is still very uncomfortable for many people, as it is viewed as extremely personal and at times emotional. This, however, is not usually the case for men and here’s why:
1. Men are confident that what they are asking for is justified and they see asking for a raise simply as a formality. Women on the other hand are typically more unsure – and at times – even apologetic for asking for a raise at all.
2. Men typically take the position that their achievements speak for themselves and warrant the raise. Women typically are more easily talked into why it is not the right time for the company to give out the raise. Therefore, men are more focused on themselves, while women focus more on the company perspective.
3. Men come across much more bullish when asking for a raise which shows confidence. Women come across much more subtle in their approach which can be interpreted as insecure or unsure.
In closing, while there is a vast disparity between males and females on average when it comes to asking for a raise, the top differences listed above are ones that women should mimic and take into account for their own fiscal benefit.