Discussing Wage

Is the law stepping in, stepping on toes?

Salary transparency laws have a significant effect on the labor market. These laws require companies to disclose salary ranges for open positions and have been implemented in a few states across the US. They strive to help reduce pay disparities and promote fair compensation practices, which in turn, can increase employee satisfaction and retention. To some, these laws promote workers to feel valued and fairly compensated for their work. 

Some argue that these laws can also lead to increased competition and pressure on companies to offer higher salaries, which may not be sustainable in the long term, making the impact of salary transparency laws on the labor market a complex issue that requires careful consideration and debate.

Read our take on the topic and then check out this exclusive gpac Knowledge Center blog post with leading publication inputs on the matter.

There’s no hush-hush when dollar signs are on the line

Keeping quiet and never talking about salaries makes negotiating for equal pay all the more difficult. However, that doesn’t mean it’s out of the question.

44% of people claimed that they never discussed a raise in performance reviews, while only 37% negotiate their salary consistently. -Salary.com

Preparing for salary negotiation is best done with these tones in mind:

• Respectful
• Constructive
• Authentic
• Convincing
• Adaptable

Prepare yourself to walk into the room with a plan, well-thought-out questions (as well as answers to questions), and an openness to all possible scenarios. Practice explanations and responses that are direct, short, and authentic. Be confident and composed rather than pushy and demanding.

Get more advice on how to go about your next salary negotiation in this article.

Putting negotiation skills to work

When it’s your time to make a move for a promotion and pay raise, it’s most likely because you feel you’ve earned it. If you’re a high performer doing more than just a good job, and you’ve mastered your craft to get to the place and pace you’re at now, you’ve more than paid your dues.

So that settles the when and why, but at the same time, it’s important to understand the difference between what you’ve earned and what you think is owed. After all, a promotion isn’t just about what you’ve done or are doing, but also what you’ll be expected to do moving forward.

If the next step on your career path is a title change, a pay increase, a lateral move, or even just a nudge toward any of these things, then you’ll want to check out this quick read.