Take an Active Role in Advocating for Fair Compensation
In 2022, the U.S. Bureau of Labor Statistics (BLS) reported that women earned 83.7% of what men earned in the same roles. This disparity highlights the need for women to advocate for themselves and actively pursue fair compensation. When it comes to asking for a pay raise, it is essential to conduct thorough research and adopt a confident and assertive approach. At Women Impact Tech’s Denver Accelerate Conference, Raleen Gagnon, GM & VP of Total Talent Intelligence at Magnit presented on this topic and provided some guidance on how women can overcome barriers, challenge traditional norms, and narrow the gender pay gap.
One common mistake women make when negotiating salaries is allowing their previous earnings to define their future worth. It is important to recognize that past pay disparities should not limit your aspirations. Instead, focus on the value you bring to the table, your qualifications, experience, and achievements. Emphasize the unique skills and perspectives you possess that contribute to the success of the organization.
When negotiating for a raise or determining a starting salary at a new position, it is crucial to have a clear understanding of your market value. Do thorough research to determine the salary range for your position, taking into account factors such as industry, geographic location, and level of experience. Online resources, industry publications, and networking can provide valuable insights. Armed with this information, you can confidently discuss your compensation expectations and demonstrate your awareness of the market standards.
It is not uncommon for women to underestimate their capabilities and qualifications, leading them to settle for lower salaries. Rather than focusing on what you lack, concentrate on the skills and strengths you possess. Assess your accomplishments, identify areas where you excel, and highlight them on your resume and during negotiations. Emphasizing your top skills will help you build confidence and present a compelling case for a higher salary.
Silence and passivity won’t close the gender pay gap. It’s crucial to be proactive and advocate for yourself. Schedule a meeting with your supervisor or manager to discuss your compensation. Clearly articulate your achievements, contributions, and the value you bring to the organization. Be confident in expressing your worth and avoid downplaying your skills or accomplishments. By initiating the conversation, you demonstrate your commitment to fair compensation and professional growth.
The gender pay gap is an issue that requires collective effort to address. Women must take an active role in advocating for fair compensation. By conducting thorough research, emphasizing their strengths, and approaching negotiations confidently, women can bridge the gender pay gap and ensure their voices are heard. It is time to challenge the status quo, empower ourselves, and work towards creating a more equitable and inclusive workplace for all. Remember, your voice matters, and by raising it, you can raise your pay.
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