This month’s Women in Finance newsletter features an open call from July 2021. Because the insights are still relevant, we are resharing in hopes that this continues to inform and inspire the women of STA.
No matter where you sit in our industry, negotiating is something we all do. Whether it’s a contract, a trade, a promotion or determining whose turn it is to buy coffee, we negotiate. Finance professionals have always needed to negotiate in their personal and professional lives, but few are ever provided education or tips on how to be successful at it. For women in finance, negotiating has particular challenges but also particular opportunities.
Women in business, and finance in particular, face certain biases and disadvantages in negotiations. They can be criticized for the aggressive behavior that men are patted on the back for. Because of this, women are sometimes less likely to negotiate in the first place.
On the opportunity side, women have real and important advantages in negotiation. While men tend to see negotiations as a game in which the objective is to win, women tend to view negotiations more as a collaborative endeavor in which both sides win. Studies show the collaborative approach leads to better overall results for all parties involved.
Read the full newsletter here.