📺 Stream EntrepreneurTV for Free 📺

Stop Selling Yourself Short: 4 Tips to Help You Negotiate the Highest Salary Make sure you're getting paid what you're worth.

By Alysha Light Edited by Dan Bova

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Robert Daly | Getty Images

Though salary negotiations can frequently be uncomfortable, they are one of the single most important aspects of the professional experience. Asking for more money or better benefits can sometimes feel like rocking the boat, but it's far better to push through temporary discomfort than it is to go to work every day feeling resentful and undervalued.

This is especially true for women and people of color in the workplace -- two groups that have historically and continue to struggle for pay equity in a world where women earn 79 cents for every dollar a man earns, according to a report by the Senate Joint Economic Committee Democratic Staff. Black and Hispanic women earn 60 percent and 55 percent, respectively, of what white men do. Recently, Oscar-winning actress and "Queen of Comedy" Mo'Nique blasted Netflix and called for a boycott of the company after it offered her $500,000 to create an original comedy special -- a paltry fraction of the $13 million the company paid Amy Schumer for her special, and a pittance compared to the $20 million-per-special deals it gave to Chris Rock and Dave Chappelle.

Regardless of your views on Mo'Nique's approach, her protest is a valuable lesson on how important it is to advocate for what you're really worth. It also inspired me to seek negotiating advice from Sonia Alleyne, communications expert, workplace strategist and author of Good Is Not Enough: And Other Unwritten Rules for Minority Professionals. Alleyne had plenty of tips to share. Here's what she told me:

1. Consider the first offer a starting point.

When presented with a new opportunity, many professionals are eager to take the first offer -- especially when it's more than they were previously making. But, the question to ask yourself is, What is the most the company is willing to pay for this role or these services? Alleyne suggests using the first offer as the starting point for negotiations. But, to know what to ask for, you have to first do your research and know what's being offered in the marketplace as well as the payment history of the organization. Don't rely on salary sites alone.

Alleyne points to Facebook COO Sheryl Sandberg as a perfect example. She was ready to sign on the first offer for her position until her late husband Dave Goldberg and brother-in-law famously convinced her to push Mark Zuckerberg for a better financial package, which included enough shares to catapult her to billionaire status, Sandberg told 60 Minutes. In her husband's words, "I wanted Mark to really feel he stretched to get Sheryl because she was worth it."

2. Talk openly about salary.

Even if you don't have an agent working on your behalf, Alleyne says it's an absolute must to find out what others in your industry are being paid. You can't determine a "great" offer if you don't have context. I learned this lesson the hard way early in my career when I eagerly accepted a $65,000 salary (a $20,000 raise from what I had been making), only to find out later that others in the position were making nearly $100,000.

Though it's taboo to talk about money, Alleyne believes that you can help spark conversations by setting your own example. For instance, after Mo'Nique told the world about her experience with Netflix, it empowered comedy legend Wanda Sykes to tweet a message of support, and she also noted the streaming service offered her even less.

On a recent Sundance TV panel, Oscar-winning actress Octavia Spencer got emotional explaining how friend and colleague Jessica Chastain helped her negotiate five times her salary for their next film. Chastain was surprised and disturbed to learn what Spencer and other black actresses were making and not only pledged support, she helped Spencer significantly increase her salary. This wouldn't have happened if they hadn't had the conversation.

3. Look for opportunities when you're already working.

Desperation puts any negotiator at a sore disadvantage. If you feel you really need the job, you may be less inclined to push the envelope for fear of losing the opportunity. Negotiating is a muscle that needs developing. As a way of strengthening your negotiating skills, Alleyne recommends periodically interviewing even if you're satisfied with your current position. You can really stretch and negotiate from a more powerful position when the consequences of walking away are at a minimum. This exercise helps to keep you abreast of trends, industry expectations and pay, as well as how your skills are valued in the marketplace.

4. Be clear where to draw the line, and don't take "no" as an indefinite answer.

A great negotiation process is one where both sides feel that they are benefiting from the prospective business relationship. It won't always end up that way. As Alleyne puts it, in some industries, like entertainment, the hiring and valuation process can be very subjective.

In order to avoid feeling diminished, Alleyne recommends entering the negotiations with a firm idea of what you're willing to live with. If your counterpart's final offer doesn't meet your standards, you can always walk away, as Mo'Nique and Wanda Sykes did.

If you do end up accepting a deal you're not thrilled with, remember that you can offer to revisit the terms of the contract at a later date to keep the door open for further discussion.

Alysha Light

Founder and CEO, FLIGHT PR

Alysha Light is founder of FLIGHT PR, a boutique PR firm in Los Angeles representing clients across the tech, design, marketing and entertainment. She graduated from Loyola University Chicago and has taught PR topics at Pepperdine University and University of Texas at Austin.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

These Coworkers-Turned-Friends Started a Side Hustle on Amazon — Now It's a 'Full Hustle' Earning Over $20 Million a Year: 'Jump in With Both Feet'

Achal Patel and Russell Gong met at a large consulting firm and "bonded over a shared vision to create a mission-led company."

Productivity

Want to Be More Productive? Here's How Google Executives Structure Their Schedules

These five tactics from inside Google will help you focus and protect your time.

Business News

These Are the 10 Most Profitable Cities for Airbnb Hosts, According to a New Report

Here's where Airbnb property owners and hosts are making the most money.

Side Hustle

How to Turn Your Hobby Into a Successful Business

A hobby, interest or charity project can turn into a money-making business if you know the right steps to take.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Starting a Business

This Couple Turned Their Startup Into a $150 Million Food Delivery Company. Here's What They Did Early On to Make It Happen.

Selling only online to your customers has many perks. But the founders of Little Spoon want you to know four things if you want to see accelerated growth.