A 39-year-old millionaire shares 4 strategies for successful negotiation to increase earnings.

I spent 10 years in human resources and recruiting roles at several financial services firms and tech startups before becoming an entrepreneur and self-made millionaire. During that time, I can count on one hand the number of times a woman negotiated pay with me.

Frequently, my female clients ask me questions like this as a money coach.

"I have been employed at this company for several years. I am confident that I am being compensated below my job's market rate. I am aware of this because I research salary ranges for other positions and fall below the median. I would like to schedule a meeting with my manager to discuss a salary increase, but I am unsure of how to initiate the conversation."

Approaching pay negotiation with confidence can be challenging, especially when dealing with impostor syndrome or other insecurities. My top negotiation secrets, acquired as a former recruiter, can help you navigate this process with ease.

1. Aim to negotiate your pay every year

Negotiating is crucial, especially for women, as the cost of not doing so is too high. Therefore, it's essential to ask for a raise every year, even if you believe you won't receive one.

Negotiating is not an unusual occurrence, but rather a standard practice that can increase your wealth and bring you closer to the independence you desire.

DON'T MISS: The ultimate guide to negotiating a higher salary

2. Use a very specific number when asking for your ideal salary

If an employee or job seeker provided a more specific and precise number in their initial negotiation request with me, the recruiter, I believed they were coming from a place of knowledge, research, and expertise. As a result, I was more likely to provide a final offer closer to what they requested.

What factors do you consider when selecting a specific salary range for your job? It can be influenced by reliable online sources that provide pay ranges for your profession, as well as your own personal requirements.

When requesting a specific number, the other party will typically assume you have done your research.

3. Use your résumé as a script

Many résumés I've reviewed contain excessive padding that can be condensed into concise statements highlighting achievements.

It's unlikely you would say, "I am a self-motivated individual with strong interpersonal skills."

A conversational and streamlined résumé can serve as valuable talking points during a negotiation, reminding your employer of your worth and justification for higher pay.

Rewritten sentence: Paying me more would mean more money for the company because I am highly skilled and efficient, which would lead to increased productivity and better results.

• How your contributions increased revenue
• How you improved processes to cut back on expenses
• How you can be more efficient and get things done faster than your peers

Instead of writing your résumé to be read by the hiring team, write it as if you were speaking naturally during an interview, as expectations from hiring managers are higher than ever and their attention spans are shorter than ever.

Rewritten sentence: Please provide a one-page résumé, regardless of the length of your work experience.

4. Set your finances up for the freedom to walk away

Your most powerful weapon in any negotiation is your ability to walk away.

To make an informed decision about the numbers, it's important to be aware of the offer you would reject, which could be influenced by your financial requirements, market worth, or personal satisfaction with your salary.

For years, I have been debt-free and confident enough to leave any job that doesn't meet my expectations or needs.

To wait for the ideal opportunity and not settle for anything less than what you and your abilities deserve.

Bernadette Joy, the CEO of Crush Your Money Goals, is a personal finance training company that offers education with a touch of excitement. As the eighth child in her father's family of nine and a first-generation Filipino-American, Bernadette understands the struggles of those who feel like they missed the money memo. She wants to help others find financial peace and has achieved this herself by paying off $300,000 in debt in just three years and becoming a millionaire in her 30s. As a money coach, Bernadette has helped thousands of people ditch debt, master their savings, and start investing. In her free time, she enjoys K-pop, yoga, karaoke, and spoiling her nieces and nephews. You can find her on Instagram and YouTube.

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The following is an adapted excerpt from 'CRUSH Your Money Goals' by Bernadette Joy. Copyright © 2024 by Bernadette Joy LLC. Published by Adams Media, an imprint of Simon and Schuster.