Money Talks October 2020 | Denisse Cobian

How Latinas Can Help Close the Pay Gap: 6 Steps to Successful Wage Negotiations

Today, October 29th, is Latina Equal Pay Day. It marks the nearly eleven extra months it took for US Latina pay to catch up to that of white, non-Hispanic men in the previous year. No matter how you slice it, no se vale!

Systemic gender bias is our first issue. According to a recent Yale study, “John” resumes received $4k higher job offers than identical “Jennifer” resumes. Racial and ethnic gaps layer on top of that – and so in 2019, Latinas made just 55 cents against the non-hispanic white male dollar.

De seguro que there are enormous institutional issues we Latinas will have to fight before the playing field truly even (puts on hoops and red lipstick). Today, however, let’s focus actions each of us can take in our own careers. Let’s trailblaze one step, one day, one woman at a time.

Let’s talk about wage negotiations.

Six steps to success in wage negotiations:

Ponte las pilas, girl. Salary.com will help you understand average salaries by job type, seniority, and city. Know what the market says this role is worth and infórmate

Cuidado con sharing your current pay, especially if you’re looking to make more money. Sharing a lower salary could undercut a higher offer. If they ask, say “That pay is tied to what I do for my current company. I’d rather focus on the value I can add to yours.”

Oído mujeres! Let them make the first offer. If they ask how much you expect, try saying “I’d love to first know your pay range for this role to make sure we’re on the same page.” From here, prove you bring the value to earn the top (or above) the range.

If they offer too little, let them know. Pero todo se puede decir de buena manera. MEANING – be grateful for the offer, and then confidently explain why you deserve more. Get specific on how you meet their needs, and use Step 1’s research.

Negotiate creatively. If you really want the job but the salary isn’t what you wanted, ask for extra vacation, commission on sales, or a scheduled pay bump – maybe after 6 months of doing the job, you get the extra 5%.

Close the deal. You know what you want…. Once you get close, make it clear. “I understand you can’t offer $65k. If you can meet me at $60,000 + 4% commission, I’m on board.”

In conclusion – know what the job is worth, know how you deliver what they need, and expect to be paid fairly.

Get yours, girl.