'Mindful Monday': The salary gap; what's a woman to do?

Jul 13, 2015


Nancy Fredericks

Nancy Fredericks pens Women Lead Change's "Mindful Mondays" column, appearing the second Monday of every month. Fredericks is a preeminent Business Executive Strategist, Author and Thought Leader. Corporations like Johnson & Johnson, PepsiCo, Adobe, Allergan and Transamerica have retained her to optimize individual and organizational performance. You can find her at www.CareerStretchZone.com. The views of Nancy Frederick's blogs represent her own and not necessarily the views of Women Lead Change.

If you have a job and you’re good at it, 2015 is the year to ask for a raise, according to CNN Money. The unemployment rate is the lowest since 2008. The quit rate (employees resigning voluntarily) is at the highest level in six years, with nearly 2.8 million employees resigning.

Historically, gender salary inequity has been a bona fide concern for women. It’s no different in 2015. Yes, the salary gap has narrowed over the years, yet PEW research reveals the progress slowed down in recent years.

Okay, there is a pay barrier for women. In large part, it is systemic in nature, yet you have more influence over your paycheck than you credit. Instead of concentrating on the gap, address what you can do to transform it.

Begin Strong:  The salary gap starts day one. Men end up with 7.6% higher salary than women with similar education according to Linda Babcock and Sara Laschever, who will speak on October 28 at the IWLC Central Iowa Conference. Why? They negotiated! Robin L. Pinkley and Gregory B. Northcraft estimate that a woman who negotiates her salary will earn over one million dollars more by the time she retires than women who don’t! 

Ask: Accenture research shows that only 45% of women ask for a raise, compared to 61% of men. What are some steps you can take?

Schedule a time to talk with your boss a month before your review to discuss your performance and salary goals. Your tone is non-confrontational. Calmly look your boss in the eyes. It is you presenting:

Category: Mindful Monday