The cost for a woman neglecting to negotiate her first salary out of college and into the workplace is much more than slower advancement up the career and prestige ladders — maybe even millions more. According to Linda Babcock and Sara Laschever, authors of Ask for It: How Women Can Use the Power of Negotiation to Get What They Really Want, women could potentially lose between three-quarters of a million and $1.5 million dollars over the course of their career…all stemming from the failure to negotiate that one time. The authors calculated that women who regularly negotiate (or renegotiate) their salaries ultimately earn upwards of $1 million more during their careers than women who don't.

So what gives? According to Laschever and Babcock, a few factors contribute to women's woes. In surveys, women are 2.5 times more likely than men to express "a great deal of apprehension" about negotiating and liken the process to a trip to the dentist. Is it because we've been socialized to be "nice," not ask for too much and never rock the boat? Maybe so, but worse than that, women have salary expectations between 3 and 32 percent lower than those of men for the same jobs — negotiation is infinitely more difficult for those of who don't know the market value of our work. Similarly, according to the authors, women usually ask for — and get — less when they do negotiate. Typically 30 percent less than men.

 
The good news is that it's never too late to start. Like anything else, negotiating is a habit, and a much more fruitful one than nail-biting or expensive shoe-buying. Start now:

Organize: Sit down and plan out your plan of attack as if you were planning a client meeting. Bullet-point your strengths and why you deserve a raise. Then, make sure to consider the perspective of whomever you're negotiating with, and tailor your pitch to fit his or her agenda. Psych yourself up!

Be specific: Know what you're worth, and come armed with your ideal salary in mind. The gold standard of salary negotiation is to throw out a number slightly higher than what you'd settle for, and negotiate down to your ideal. And hey, you never know — you might just land the higher number!

Lead the discussion: Speak first, and direct the conversation. Offer your ideal salary up front. Don't be afraid to be a little aggressive.

Counter offer: When negotiations begin in earnest, a friend of mine employs a great tactic for attaining a higher number. If a $32,000 salary is on the table, she simply says, "I prefer round numbers. How about $40,000?"

At the end of the day, the spillover effect of the power of negotiation is undeniable, whether it comes to car-buying and gym memberships. Also, once that particular prowess is in place, never again will you be stuck cooking a big meal after working a long day. Or if you do, you'll have negotiated dish-washing duty — and a nice post-dinner backrub — from your partner or spouse. It pays off in more ways than one!