Close the Gender Pay Gap and Ask For More Money

MoneyFACT: On average, American full-time women earn 77 cents to every dollar earned by men.

FACT: Many women don’t even know they are being underpaid, so they cannot secure themselves equal pay for equal work.

FACT: Fifty-one percent of women report they are discouraged or forbidden from discussing their wages.

FACT: Women earn the majority of Bachelor’s, Master’s, and Doctorate Degrees.

FACT: You are most likely a part of these statistics, and don’t even know it.

There has been a lot of discussion about the President’s “Equal Pay for Women” in the news over the past several months. While this is all great news for working American women, we believe that we cannot sit around and wait for the government to mandate these equal pay rights. There is something that can be done!

We are pushing women to take the first step towards better pay. Let’s help change this seemingly unmovable statistic by changing the way we do one thing: ASK FOR EQUAL COMPENSATION. Let’s ask for more: more money, more compensation, and more consideration for advancement.

The answer may not be an overwhelming “yes” when it comes to asking for more pay, but for every woman that succeeds, there is a small piece of the gender pay gap that is closed.

How to ask your boss or manager for more money:

  1. Come prepared. Update your resume with a full list of skills, job description, awards, trainings, and accomplishments. This sets the stage and allows you to more efficiently and confidently articulate why you deserve more money. It also helps show that you are marketable outside of your current office.
  2. Know what you are worth. Come stacked with information about how your pay compares to others in like jobs, in the area, and across the country. Chart your salary path and show a comparative analysis to how it stacks up against others with similar jobs and how it compares to cost of living.
  3. Toot your own horn. Women often have a hard time boasting about their accomplishments. Though it is respectful to quietly celebrate your work and accomplishments, it doesn’t guarantee financial gratitude. Quiet work is often overlooked work, and though a solid performance is a good foundation for compensation, it does not always get noticed. Tactfully sharing your accomplishments and contributions with your manager can help start the conversation about compensation and get your work noticed.
  4. Go in with a number in mind. Really do your homework and decide exactly what you are worth, according to the standards for your job, time and grade, and contributions. Start with a particular number in mind to start the negotiations, but be open to a range of compensation you are willing to consider. Even the slightest raise is a step in the right direction.
  5. If the answer is no…ask your employer what it would take to turn that yes into a no. Maybe they need more time, or maybe they would like you to take on more responsibility. Either way, even if your manager says “no”, you have started the conversation and made it understood that you desire more money and advancement opportunities. Advancement may be key to long term financial compensation.
  6. Consider other alternatives. If a raise is not in the foreseeable future, consider alternative ways your manager can compensate you and share those options. Maybe you would like some flexibility in your schedule, more funded trainings, or opportunity for a higher position. Remember that bosses are not mind readers, and they can’t offer you something they don’t even know that you want.
  7. Don’t get personal. Make an argument for a higher salary based on the facts, not on your personal circumstance. Mentioning your own financial struggles downplays the rational part of your argument. Keep your plea for a raise to your worth, value, contributions, and the status quo.

Facts via: thewhitehouse.gov

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