At the end of this month a new law will go into effect in New York in an effort to close the gender pay gap. Hiring practices across the city will change significantly as hiring managers and recruiters will no longer be able to ask job candidates about their salary history. The very common question, “what were you most recently making?” will now be illegal for an employer to ask a prospective candidate. The new question will be “what are your salary expectations?”. This is a tremendous shift in the hiring practice in one of the biggest and most competitive employment markets in the world – and a shift toward greater earning potential for many job-seekers. As a woman owned business, Clarity has always championed women in the workplace and see this as a big step closer to equal pay for all women – as well as other minorities – who have been historically underpaid for equal work.
Now, more than ever, it is critical to have experts on your side to help you navigate disclosing your salary expectations. At Clarity, we spend time researching the job market and arming our candidates with the information they need to get the job they want with the compensation they deserve! We guide, advocate for, and advise on how to negotiate the appropriate salary. It has been our long standing practice to lead negotiations with our candidates’ desires in mind while highlighting their skills and experiences to bolster that salary requirement – not past pay. We’re happy that this New York law enables us to continue relying on our strength in this area as we represent candidates of all stripes and help them achieve their career goals. It is critical to have an ally you can trust to help navigate this process.
Here are 4 tips to prepare for your next interview:
- Do Your Homework
Salary negotiation can be tricky and now that you don’t have to disclose what you are currently making, you have more headroom than ever before to take a step up. It’s important to do your homework and research salaries in your industry in your city. Working with a recruiter can give you insight to salary history at certain companies and give guidance on the parameters of the role.
- Communicate Your Value
If you want to plant roots at a new company, make sure you are offering long term value in return. Map out how you will add value to the organization and prepare to impress upon the hiring manager why you are the right hire. Do not just answer interview questions methodically – paint a vivid picture of how you will go above and beyond and be a long term fit, versus place a filler for the next year. The candidates that have the most salary negotiating power are the ones that WOW with long term value!
- Consider The Whole Package
Don’t be penny wise and pound foolish! Look at the entire package and weigh what is important to you. Is there a robust benefit plan? Is there equity participation? Commission? Paid overtime? Quarterly Bonuses? Tons of flexibility? Free Lunch? Add it all up – there may be some real money there to consider that is outside of your base salary.
- Think Big Picture
Go into negotiations with a range you would consider and focus on the the big picture. If you are aiming to switch industry or job function and don’t have relevant experience, you may have to take a step backward or sidestep first in order to take that step forward – weigh your options, be strategic, focus on opportunity and envision where you will be in a few years from now!
As an advocate for candidates of all genders and ethnicities, our team is optimistic that this new law will help achieve the goal of compensating employees based on merit, and ultimately level the playing field for all job seekers. We believe an employee’s worth shouldn’t be based on their negotiating expertise, nor what salary they had at their last job. Shifting the focus on opportunity and resources will free many from systemic salary flexing that has plagued many for years. To put it simply, if you were underpaid at your first job, you should not have to continue to pay that price for the rest of your career. On average, women earn 80 cents for every 1 dollar men make. That twenty cent difference would equal a whopping $418,800 difference over a 40 yr. career – now that is something worth fighting for!