Years ago, ages it seems, I had a job where I had a great deal of control over how much people were paid. I conducted performance reviews, sat in on budget meetings, and fought for comp increases for valuable employees. Even though money in and of itself isn’t the only way to retain employees, it doesn’t hurt to recognize and reward hard work. However, what I started to notice was that the talented women on my team weren’t raising their hand and asking for what I thought they deserved. Their anxiety in broaching the question of title changes and quarterly increases was palpable and I remember at the end of one review me saying, that’s it? That’s all you’re going to ask for? From then on, I made a point of mentoring women to fight for what they deserved. It seems counterintuitive, right? Companies want to keep costs down (especially salary + benefits), and here I was teaching my team how to ask for more. However, it was important to me because only one person in my career taught me how to fight for myself. He taught me to ASK for what was my due. My mentor coached me on salary and benefit negotiations (and contract negotiations, in general). From him I learned about BATNA, and more importantly, I learned how to be assertive and bet on myself. Because, quite honestly, in enrages me that men–when acumen and experience are leveled–make more money than I do.
After my recent Great Depression, I made it my mission to give the people I care about more of the kindness I’d received during those dark months. I passed around resumes, reviewed Statements of Work, and even though I’m not a lawyer I explained the importance of IP and indemnification. I told several of my friends they were underpricing themselves, that they should ask for 50% of the project fee, up front, that they should bill project with an hourly cap because hourly doesn’t always cut it especially for those who have tenure and years of experience.
I scanned Facebook group posts where women were trepidatious when it came to asking for more. After sharing one of my contracts with a few of my friends for reference, it put me to thinking that it behooves all of us to share information and be helpful where we can. It behooves us to price right for the work we do so that we don’t get taken advantage of.
So…I’m here to help. Here’s what I know:
- How to create air-tight Statements of Work/MSAs (Master Service Agreements)
- How to price for marketing and writing projects
- When to use hourly vs. project fee
- How to negotiate (I’m pretty ruthless)
- How/when to renegotiate and ask for more
If you have any questions related to the above, drop them in the comments (you can leave a comment anonymously), and I’ll do my best to answer all of them in an upcoming post (or point you to the right resources), and if you see questions and you think you can help, chime in!
Meanwhile, here are some great resources:
- A comprehensive list of freelance tools (includes standardized contracts)
- How to ask for a raise, negotiate an offer
- Why women need to negotiate
- Getting the retainer, the holy grail for consultants
- How to charge for your freelance work and why you should consult with other freelancers on pricing. See this rate calculator
- How much should that cost?
- Why you should charge more for experience