Equal Pay is about men and women being paid the same amount for doing a similar job. However, there is no avoiding the fact that women are still paid comparatively less than their male counterparts.
A recent survey by the Australian Institute of Management confirmed that women earned on average less than 12% than men for undertaking the same job.
So whilst women continue to become more educated and out-perform boys both at high school and university, in Australia the pay gap is still prevalent.
Some of the issues that contribute to wage inequality will not be easily resolved and will take time before we see real changes. However, there are a few areas women can take control of to assist in addressing the imbalance. These all revolve around negotiation of salary; be that for full time or part time work, a bonus, added benefits or asking for above award wages.
Studies undertaken on this topic across the globe show that women are highly uncomfortable with salary negotiation – as a result we avoid it. Even when we do enter into a salary negotiation we don’t actively seek out the best deal for ourselves, but rather look to a positive outcome for both parties.
Some key facts include:
• Men initiate negotiations about four times as often as women.
• Many women are so grateful to be offered a job that they accept what they are offered and don’t negotiate their salaries.
• Women report salary expectations between 3 and 32 percent lower than those of men for the same jobs.
• Women who consistently negotiate their salary increases earn at least $1 million more during their careers than women who don’t.
So, if the last fact is not going to entice you to develop your salary negotiation skills so that you have both a personally and financially prosperous career, I am not sure what will!
If you want to learn more about salary negotiation you can request a free salary negotiation workbook and quiz to see how ready you are to negotiate your next pay rise. Email firstname.lastname@example.org your details with free salary negotiation guide in the subject line.
There are many great articles, websites, books and seminars you can attend to develop your negotiation skills. Being a successful negotiator is a matter of educating yourself and putting what you learn into practice. Like all things worth doing it takes time however the benefits are truly worth it.
What is it that you think really prevents women from negotiating their salary? Is it lack of confidence, societal etc?