Because We Still Earn Less

If you ever read Dr. Seuss' The Lorax, you might be familiar with the quote: 

​“Unless someone like you cares a whole awful lot,

Nothing is going to get better. It's not.”

Well, helping women bridge the gender income gap is a cause I really feel deeply about. For the better part of a decade, I've been reviewing position descriptions, resumes and recommending salaries. After thousands of reviews, I've come to the conclusion that even though men and women might be offered the same amount, women rarely negotiate and advocate for more than what they are initially offered, while men are not afraid to ask for a little more- thus, the gender income gap is perpetuated.  

On average, women earn 23% less than men​​ (see here and here). And while most companies try their best to encourage "equal pay" for both men and women, females are generally not as good as men when it comes to negotiating their own salary.  Sure, we are incredibly fierce at looking out for our loved ones and children, yet when it comes to ourselves- we tend to sell ourselves short at the negotiating table. 

There is an endless supply of literature on how women need to "lean in" and be more confident about going to their boss and asking for more. But too often, we (meaning us women) are all too thankful to just get the job or just get a raise. We either fear asking for more or we don't even realize that we are in a situation in which we are worth more.  

But even if we are aware of our option to negotiate, there are always insecurities that plague our thoughts- How will it come across if I ask for more? Should I be asking for more? Can they even afford paying me more? But the reality is, we should be asking the less circuitous question: 

DO I KNOW WHAT I AM WORTH?

If your answer is "YES, and I am being paid what I'm worth." - Good for you! You are part of a small minority. Now help me reach more women so that together we can close the gap. 

If your answer is "NO, I'm just getting paid what they offered- I'm just happy to be paid." Then we need to talk. 

Let's be clear- I'm not saying that every woman is being underpaid and that you need to run to your manager and ask for a raise. I'm saying YOU NEED TO KNOW WHAT YOU ARE WORTH QUANTITATIVELY. HOW DOES YOUR RESUME STACK UP TO YOUR POSITION DESCRIPTION, AND WHAT IS THE RESULTING DOLLAR FIGURE ($) FOR YOU PERFORMING THAT JOB. 

You know yourself and your experience better than anyone else- and if you don't know what you are worth, don't you think that you are sitting blindfolded at the negotiating table? The person hiring you or reviewing your position for a raise has done their homework and put a price tag on you. They likely have a salary range in mind and will likely offer you a number on the lower end of the range. Lets be honest- would you pay more money than necessary for anything? I surely wouldn't. 

But it's not much of a "negotiation" if you just walk in and accept whatever they've deemed true. Generally companies have done their due diligence and know what they are willing to pay. This is where knowing your worth comes into play. 

Here's an example of what I mean: You are being offered $44,000 per year for a new job. 

Option a) You just take it. Glad to have a job.

Option b) You've done your homework, learned how to value yourself relative to the market- and you now know that $45,000-$46,000 is better aligned given your experience. 

Asking for that extra $1000 per year will cumulatively have a BIG impact on an annual basis. That extra $1000 has a compounding effect on your year-to-year earnings, your retirement benefits, your annual increase. Heck- it can even help your daily Starbuck's fund.

Here's another example: You've worked at the company for about 7 years and other than an automatic annual increase, you've never asked for a raise. 

Option a) You don't mind it. After all, you are at least keeping up with the cost of living, right?

Option b) You begin to think you might be falling behind.  After all, haven't you become more proficient at what you do, taken on more projects, gathering 7 years worth of institutional knowledge? Might it not be time to dust off that old position description and review it relative to my current experience and expertise?

I'm on a quest to teach women the value in knowing what they are worth. Stay posted... more knowledge to come!

You can always reach me at: olivia@salarycoaching.com  and you can also check out my individualized services at www.salarycoaching.com.