Are you getting what you are worth?

1 Are you getting what you are worth?A workshop on $alary...
Author: Edward Terry
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1 Are you getting what you are worth?A workshop on $alary Negotiation for Architectural Professionals Hosted by the Equity Committee, AIA Baltimore Speaker: Stacey B. Lee J.D. Assistant Professor Johns Hopkins Carey School of Business

2 Credit(s) earned on completion of this course will be reported to AIA CES for AIA members. Certificates of Completion for both AIA members and non-AIA members are available upon request. This Presentation is registered with AIA/CES for continuing professional education. As such, it does not include content that may be deemed or constructed to be an approval or endorsement by the AIA of any material of construction or any method or manner of handling, using, distributing, or dealing in any material or product. Questions related to the specific materials, methods and services will be addressed at the conclusion of this presentation.

3 GOALS How to educate on the importance of pay equity to help close the pay gap in our professions. How to assess the market value of your education, skills and experience How to identify a fair target salary and benefit package How to create a strategic pitch and respond to salary offers - Continuing Education AIA

4 Why a Workshop on Salary Negotiation Strategies?

5 75%

6 Wage Gap Wage Gap Among young people ages 16 to 34, women are paid around 90% of what men are paid. In the peak earning years of , in contrast, women are paid between 75% and 80% of what men are paid. African American women are typically paid 63% of what white men are paid. American Indian and Alaska native women are paid 59% of what white men are paid. Native Hawaiians and Pacific Islanders women are paid 62% of what white men are paid.

7 Wage Gap Wage Gap Among young people ages 16 to 34, women are paid around 90% of what men are paid. In the peak earning years of , in contrast, women are paid between 75% and 80% of what men are paid. Latina women face the largest gap making 54% of white men’s earnings. The Equal Pay Act hasn’t been updated since 1963 Women are still paid almost 7% less than men just one year after college - American Association of University Women (AAUW)

8 from, AIA Minnesota InfographicsSamantha Turnock-Mendiola

9 from, AIA Minnesota InfographicsSamantha Turnock-Mendiola

10 Workplace Negotiation Strategies

11 Workplace Negotiation StrategiesDon’t assume that your choice is either yes or no Use the “and” stance Negotiate for “fit” as well as dollars

12 Workplace Negotiation StrategiesNegotiate for small and large wins Negotiate for the present and the future. Don’t down play your strengths or emphasize your weaknesses

13 Workplace Negotiation StrategiesDon’t assume that your position speaks for itself Avoid thinking, “I can pick up the slack.” Negotiate for a persuasive introduction

14 Workplace Negotiation StrategiesAssume that all the elements of your professional life are negotiable. Put yourself forward. Volunteer for assignments that interest you. Actively pursue your professional goals

15 Workplace Negotiation StrategiesUse low risk occasions to practice negotiation skills Work on one skill at a time

16 $alary Negotiation Strategies

17 Goal 5 Steps to your Goal You Step 4 Step 2 Step 3 Step 1Know the fit Step 5 Know the issues Step 2 Know the company Identify what is unique about you What are your fundamental interests? What are their interests? What are their current strategies, expansion & acquisition plans? Explain how you fit the job Know what the job requires in terms of tasks, knowledge, and skills Know the compensation package issues Step 3 Know their labor market situation Step 1 Know yourself You

18 Framing your value Look for compelling arguments that show the value you add to the organization in tangible ways – quantify as much as possible What about no raises this year Seek noncash benefits Deferred compensation Negotiate next year’s salary

19 “What is your current salary?”If it’s good, reveal it If not, politely refuse to divulge it Describe why this job is different Describe what you have learned and what credentials you’ve achieved since that salary was set Tell them what you are looking for Suggest that your decision to take or refuse the job depends upon the whole employment package they are offering Ask the employer to make you an offer Prepare for this question!

20 “What kind of salary are you looking for?”) Don’t signal willingness to concede Be careful if you have no idea of their range (but you should) Make an offer; it’s your opportunity to set the anchor Be optimistic, but realistic Avoid giving ranges

21 “Do you have other offers?”If you do, hint at them If you don’t, express confidence that you will Or politely refuse to divulge Emphasize the marketability of your skills Describe how other people from your school are faring

22 What are your salary expectations?

23 Q: What are your salary expectations?“Salary is only one part of my assessment of how well this position fits my goals and career path. What range did you have in mind?” Test for range. Robin Polangin, career and leadership coach, as cited in “Surviving the Salary Negotiation Minefield”

24 Q: What are your salary expectations?Use this approach if your receive a range and are asked for a response. “Based on my experience and qualifications I would expect the high end of the compensation range.” Ann Boland, head of the Boland Group, as cited in “Surviving the Salary Negotiation Minefield

25 Q: What are your salary expectations?“Salary is only one piece in your total rewards program; I need to better understand the total compensation package first.” Shift the focus to total compensation. Ann Boland, head of the Boland Group, as cited in “Surviving the Salary Negotiation Minefield”

26 Q: What are your salary expectations?Buy time and convey confidence “I don’t know enough about the full scope of the position yet to have a target salary in mind. I certainly hope to receive X Hospital’s most competitive offer, once you have had an opportunity to evaluate my potential contributions.” Ann Boland, head of the Boland Group, as cited in “Surviving the Salary Negotiation Minefield”

27 Q: What are your salary expectations?Buy time. Convey enthusiasm and confidence. Robin Polangin, career and leadership coach, as cited in “Surviving the Salary Negotiation Minefield” “I’m very interested in the job because…. If we’re the right fit, of course we are going to find the right compensation package.”

28 Q: What are your salary expectations?“I was told by Jane Roe that she would handle this with you.” or “Those details have already been provided to the recruiter.” When it is normative for the culture, defer to the recruiter. Ann Boland, head of the Boland Group, as cited in “Surviving the Salary Negotiation Minefield”

29 Asking for more . . . Express your gratitude and excitementGo over all of the features of the position that appeal to you. Indicate that there are a few concessions you'd like to be made in other areas before you can join the organization.

30 Asking for More . . . Request a written offer.Thank the employer for the  offer. Ask questions to understand the benefits, including medical insurance, vacation time, tuition reimbursement, 401(k) and so  on. Request up to 48 hours to evaluate the offer Create a chart outlining the written offer and the offer you desire. The difference between the offer and what you desire will be your points of  negotiation. Schedule an in-person appointment to respond to the written offer.

31 That’s NOT negotiable Don’t ask in the first place. INSTEADSay, “I have some questions about the moving allowance, can we talk about this?” Ask why, why not Ask if something can be traded for the non-negotiable item

32 “I just can’t do that right now.”Negotiate a review in 6 months instead of a year Negotiate a bonus contingent on your performance Propose to trade for another issue

33 The Impact of Not Asking: “Accumulation of Disadvantage”$25K job offer. Woman accepts. Man negotiates $30K. Both age 22. If both receive 3% raises until age 60, salary gap > $15K. Woman will earn 76,870, Male 92,243 Over the 38 years, the male earned $361,171 in salary. If 3% = $568,834. Babcock & Laschever, Women Don’t Ask., p. 5.

34 “You miss 100% of the shots you don’t take”Ibid., pp. 4-5. “You miss 100% of the shots you don’t take” - Wayne Gretzky

35 For more information about business negotiation training, contact me at

36 Resources “Knowing Your Value” by Mika Brzezinski“Is that your hand in my pocket?” by Tom Parker & Ron Lambert “The Simple Truth about the Gender Pay Gap”.