I remember perusing article over article on negotiation tips while preparing for interviews as a young career woman. I had to do my research, come in with a certain number in mind, be assertive and not give in. Yet, somehow, more times than not, I ended up not even bringing up the topic of salary or compensation in general, blindly accepting whatever was given to me. The worst part was being disappointed at myself, gradually convincing myself (and others) that negotiating was not my strong suit.
Negotiation is a fundamental aspect of both personal and professional life that most of us cannot avoid. It also often carries underlying gender dynamics that not only influence the outcome, but also taint the entire process. This is also why recognizing these dynamics and understanding how to navigate them is essential for achieving successful negotiations.
Previous research shows undeniable gender differences in negotiation, as men have been proven to enter negotiations in larger numbers than their female counterparts. In addition, they’ve also been shown to get better deals when negotiating than women. It’s no surprise then that these disparities have given rise to significant gender gaps in wages and career advancement. However, more recent research concludes women do ask for raises and promotions in equal numbers than their male counterparts, but don’t get their requests satisfied. Even more recent research by Berkeley Haas professor Laura Kray, and co-authored by Vanderbilt University Associate Professor Jessica Kennedy along with Berkeley Haas post-doctoral scholar Margaret Lee in the Academy of Management Discoveries journal, confirms this fact. Contrary to popular belief fueling the gender-pay gap myth that women are at fault for not negotiating more, this last research actually demonstrates women negotiate their salaries more often than men, only to get turned down more.
While this body of research comforts us as to the fact that women should stop being blamed for not negotiating, it helps debunk an outdated, and hurtful, myth that has kept many women away from the negotiation table for way too long. It also reminds us to continue to strengthen our negotiating muscle as women, which heavily depends understanding the fundamental gender differences in negotiation. The better we understand, acknowledge and share these gender differences, the better we can fight related outdated beliefs and promote better negotiation outcomes.
Here are three of the main ways in which gender plays a role in negotiation, and how to effectively and purposely navigate these gender dynamics:
Stereotypes and Expectations
Gender stereotypes can, and do affect, the way negotiators are perceived. As women may be seen as nurturing and empathetic, while men tend to be perceived as more assertive and competitive, society tends to expect men and women to behave differently at the negotiation table. As a result of these expectations, women may feel pressured to be accommodating, while men might feel compelled to be more competitive.
Communication Styles
Research suggests men tend to adopt a more direct communication style in negotiations, while women may employ indirect or relational communication. Additionally, women are often perceived as better listeners, which can be an advantage in negotiation, allowing them to gather more information and build rapport.
Confidence and Self-Advocacy
Gender differences in confidence levels, also known as the confidence gap, can impact negotiation outcomes. A Cornell University study found men tend to overestimate their performance and abilities, while women tend to underestimate theirs.
In terms of self-advocacy, previous research has demonstrated when women advocate for themselves, they tend to experience negative backlash, which may keep them from doing so.
However, a recent 2021 study shows as younger women professionals enter the workforce, they may experience less backlash. However, persisting biases still make self-advocacy challenging for women. As such, men may be more inclined to self-promote and advocate for their needs, whereas women might downplay their achievements or put others’ interests first.
Here are some practical tips to counteract these three ways in which gender affects negotiation:
1. Be self-aware!
The first step in navigating gender dynamics around negotiation is self-awareness. Recognize how gender stereotypes may influence your own behavior and expectations. Reflect on your communication style, confidence levels, and self-advocacy tendencies in negotiation.
2. Preparation is Key
Irrespective of gender, preparation is crucial for successful negotiations. Research the negotiation topic thoroughly, gather data, and develop a clear strategy. Being well-prepared can boost confidence and mitigate the impact of gender-related biases.
3. Challenge Stereotypes
Challenge stereotypes by consciously defying them when they arise. If you’re a woman, don’t hesitate to assert yourself when necessary, and if you’re a man, embrace a collaborative approach when it suits the negotiation.
4. Embrace a Collaborative Approach
Negotiations need not be purely competitive. Embrace a collaborative approach that focuses on finding mutually beneficial solutions. This can be particularly effective in navigating gender dynamics, as it aligns with relational communication styles often associated with women.
5. Build Rapport
Building rapport is essential in negotiation, and it aligns with many communication strengths often attributed to women, such as active listening and empathy. Establishing a connection can create a more favorable negotiation environment.
6. Use Effective Communication
Regardless of gender, effective communication is key. Be clear, concise, and assertive when necessary. Employ active listening skills to understand the other party’s perspective fully.
7. Negotiate on Merit
Focus on the merits of your argument rather than gender-related expectations. Showcase your skills, achievements, and the value you bring to the negotiation. Let the substance of your proposal speak for itself.
8. Seek Mentorship and Support
Seek mentorship or support from individuals who have experience navigating gender dynamics in negotiations. Their guidance can provide valuable insights and strategies for success.
9. Negotiate in Numbers
Whenever possible, negotiate in groups or teams. Multiple voices can help mitigate gender bias and provide collective strength in negotiations.
10. Be Persistent
Overcoming gender dynamics in negotiation may require persistence. Don’t be discouraged by setbacks, and continue refining your negotiation skills over time.
In conclusion, as confirmed by research and experience, gender dynamics undoubtedly influence negotiations. However, they need not determine the outcome. By recognizing these dynamics and employing strategies to navigate them effectively, women can negotiate with confidence and success. Embracing your strengths, challenging stereotypes, and focusing on the substance of your proposals can help you reshape the negotiation landscape to ensure that gender is not a limiting factor but a source of diversity and strength in the negotiating room.
In this episode of the podcast, I’m busting one common myth that women are not good at entrepreneurship. Backed by research, this episode discusses how women are entrepreneurs at heart, and discusses 3 principles for women entrepreneurs.
Listen in!
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I remember seeing women, many with babies hanging at their hips or suckling at their breasts, at the corners of sandy streets back home in Senegal, selling one product or another under the hot sun, from crackling roasted peanuts to fresh sorrel juice. At the time, I did not even know what the concept of entrepreneurship was. I just instinctively knew the important role these women were playing in the fabric of our society. I knew behind many of their yellowed smiles and inviting and astute banter, hid countless economic and social hardships that the meager revenue from their sporadic sales barely alleviated. These were the first women entrepreneurs I was ever exposed to. Every time I think about entrepreneurship, these are the women I think about…
Yet when I started my own entrepreneurial journey, as an immigrant and a career woman side hustling my way into business, I somehow forgot about these women…I drowned, consciously or not, into the noise of the world around me, giving into salesy gimmicks and marketing hoaxes. So do so many of us out there…Until I’ve had a wakeup call lately, and remembered the women of my childhood, selling at the corners of sandy streets and alleyways, heartily bantering, authentically sharing from the heart to feed their families…Every time I have to get back to business, literally and figuratively, I intentionally pause and remember these women. I remember their hearts, their art, their determination, their drive. I remember their signature marketing anchored in relentless humanity, away from marketing gimmicks and sales ploys…
According to the 2021/2022 Global Entrepreneurship Monitor (GEM) Women’s Entrepreneurship Report, women constitute two out of every five early-stage entrepreneurs active on a global scale. Women are also one in three high-growth entrepreneurs, and one in three innovation entrepreneurs focusing on national and international markets. In general, women in lower-income countries tend to report intentions to start a business at higher rates than women in high-income countries, with the Dominican Republic showing the highest startup rate for women (43.7% vs.41.7% for men). They are also found to exit businesses at lower rates than their male counterparts (3.6% for women vs. 4.4% for men), but this may also be impacted by their lower rates of business entry.
Unfortunately, the pandemic altered these statistics, with women’s entrepreneurial intentions decreasing from 19.1% to 16.7% in 2021 mostly in low-income countries. Women also unfortunately suffered an increase in business exit rates during the COVID-19 pandemic (from 2.9% to 3.6%), while men observed higher rates (from 3.5% to 4.4%). Despite this, almost half of women entrepreneurs at the early stage recognized new business opportunities created by the pandemic, demonstrating a similar alertness to new opportunities and ability to pivot as their male counterparts.
Overall, on a global scale, women entrepreneurs show a high level of activity in growth and high innovation businesses with a focus on national and international markets. While there are few gender-related differences in education and age, women entrepreneurs are generally less affluent than their male counterparts, except in low income countries. Most of the notable differences between men and women entrepreneurs are industry and business size-related, with fewer women with businesses in Information, Computer and Technology (2.7% of women vs. 4.7% of men) and with employees. In terms of stereotypical gendered perceptions around entrepreneurship, the largest gender divide was observed around access to investments, mostly in low income countries.
As a woman and/or mom, if you’re thinking of reconnecting with your entrepreneurial self, whether you’re getting back to your business or side hustle, or are looking for more ownership in your career, this is also your reminder, and encouragement, to do so:
Identify needs and problems
Women and moms have long been attuned to the needs and issues around them, which is a crucial factor in entrepreneurship. It is this attunement to the needs and issues around them, from their own financial needs and those of their families and communities, to gaps in the society around them, that fuels their aspirations to start businesses.
In the same way, identifying the needs and problems around you, whether it’s at work or in your own business or side hustle, is essential to reconnecting with the entrepreneur in you.
What are the needs in your team at work? In the classroom you teach? What are the problems you are experiencing in your life?
As lower business exit rates show the resiliency of women entrepreneurs, it also outlines one of the most crucial elements of women’s entrepreneurship. It’s the ability to stick it out despite obstacles, including lack of funding, damaging stereotypes and scarce support, that keeps women’s businesses afloat and thriving.
For me, the beautiful, resilient and creative women selling roasted peanuts, fresh sorrel juice and so many other products at the corners of sandy streets and alleyways in my hometown of Dakar, Senegal, will always be the picture of entrepreneurship. Their ability to identify problems and needs, to recognize new opportunities in the midst of crisis, and to stick it out in unwelcoming environments lacking the resources they need, will always exemplify the essence of what it means to be an entrepreneur. As a woman and mom, these are the values that help me reconnect with the entrepreneur in me, in my career and business. I hope these are also the values you use to reconnect to your own entrepreneurial side, at work and in business.
In this episode of the podcast, I am discussing recovering financially after the often financially taxing days of summer, as working women and moms. In the episode, I share 3 main steps to recover financially after the summer.
It also cites the paper entitled “ The Summer Drop in Female Employment”, researchers and authors Melanie Wasserman and Brendan Price assert women’s earnings drop by 3.3 percent on a weekly basis during the summer, which represents about five times the drop experienced by their male counterparts.
Tools mentioned in this episode include Mint, YNAB (You Need A Budget), and PocketGuard.
which provide a range of courses suitable for various skill levels.
Listen in!
Thanks for Listening!
Thanks so much for tuning in and listening to this week’s episode! If you enjoyed this week’s episode, please share it by using the social media at the bottom of this post!
Also, leave me a review for the TCS podcast on Apple Podcasts !
I don’t know about you, but the end of the summer is always a bit of a bittersweet moment for me. The (somewhat) sweet and lazy days of summer, peppered with kids’ chaos, traveling snafus and fridges emptying at the speed of the light, quickly give room to bitter and busier days, along with more intense work, business and school schedules. What it also spells for many, if not most working women and moms, is a serious financial wake-up call.
As a result, most working women and moms find themselves running on empty at the end of the summer, needing to financially recover for the last three months of pay cuts, expensive vacations and outrageous childcare and camp options. Here are a few tips and strategies that may help in the process, and lay the foundation for future financial balance and success:
Pause to reflect and realign financially
Reflect and Reevaluate Your Financial Goals
Before going into panic mode or jumping into financial recovery mode, pause and take some time for reflection and realignment around your summer spending and financial goals:
What were the financial goals you set at the beginning of the year, if any?
Did your summer spending get out of control during your vacation?
Or did you manage to stick to your budget?
What is your financial vision going forward?
Assessing your finances against your goals will not only help you understand where you are financially; it will also help you understand your spending habits and identify areas for improvement.
2.Realign Your Budget for Success
Now that you’ve reflected on your spending and your goals, it’s time to get into financial realignment mode:
What discretionary expenses can be trimmed down?
Can the reduced expenses be allocated towards your financial goals, to build an emergency fund, pay off debt, or investing?
Building a budget will help guide your recovery journey and realign yourself financially. Tools like Mint, YNAB (You Need A Budget), and PocketGuard empower you to track your expenses, set financial goals, and monitor your progress. These apps sync with your bank accounts, categorize your spending, and provide insights into areas where you can cut back. This approach allows you to regain control of your finances and allocate funds towards recovery.
3. Navigate Work-Life Integration during the back-to-school season
Effectively integrating your career and family life is crucial for both your family and personal well-being and your financial well-being. This is where the back-to-school season is a great opportunity to create a structured routine that allows you to manage your work commitments, be present with your family and reduce your expenses through better planning and time management.
Take financial action!
4. Strategically tackle your debt!
TransUnion’s 2023 Spring and Summer 2023 Travel Report shows 57% of survey respondents planned to use credit card debt to travel. If you’re among those who accumulated debt over the summer, it’s time to take action:
Prioritize paying off high-interest debt to save money in the long run.
Consider consolidating your debt!
Negotiate with creditors to make your debt more manageable.
Freeing yourself from debt is one of the most important steps you can take towards thriving financially.
5. Explore New Income Streams!
It’s one thing to tackle your debt and cut expenses as part of realigning your budget. It’s also about increasing your income through diversifying your income streams. As a working woman and mom, tapping into your formal and informal skills is invaluable, from freelancing, consulting, or starting a side hustle.
6. Revamp Your Savings Strategy
As summer fades, it’s an ideal time to revisit your savings strategy:
Have a clear purpose for your savings so you can motivate to continue setting money aside.
Consider setting up automatic transfers to your savings accounts to make saving a habit.
Create specific savings goals, whether it’s for a family vacation, education funds, or retirement.
Grow forward!
7. Invest in Your Financial Education
Financial education will not only allow you to get out of the summer financial pit you may be in. It will also help you empower yourself to grow your financial wealth:
Take advantage of resources such as online courses, books, and workshops to enhance your financial literacy. Websites like Udemy, Coursera, and LinkedIn Learning provide a range of courses suitable for various skill levels. Equipping yourself with the knowledge and tools to make informed financial decisions is an integral part of post-summer financial recovery.
Learn about investments, savings vehicles, and tax strategies will help you make informed decisions that align with your long-term goals.
8. Cultivate mindfulness and self-care.
Financial recovery can be a journey of ups and downs. Practicing mindfulness and self-care is essential to maintaining a positive mindset throughout the process. Engage in activities that bring you joy and reduce stress, whether it’s yoga, meditation, or spending quality time with loved ones.
9. Network and Support
Connect with other working women and moms who are also on the path to financial thriving. Join online communities, attend networking events, and share your experiences. The support and insights you gain from like-minded individuals can be invaluable in staying motivated and accountable.
All in all, transitioning from vacation vibes to financial thrive might seem intimidating and impossible to achieve. However, with the right strategies and mindset, you can make significant strides towards your financial goals. Remember, post-summer financial recovery is a journey, and each step you take brings you closer to a more secure and empowered future as a successful working woman and mom.
Now your turn, what strategies are you using to recover financially from the summer months?
