Friday Fuel! Get Yo Money

Happy Friday!

It’s a beautiful day people, don’t waste it!

I hope this week has treated you all well and you are ready to kick ass today and close out the week on a productive and positive note. Today I want to share an article I came across on Facebook about the wage gap for men and women. Glamour did a super scientific study comparing the salary of men and women in similar positions (okay, not really super scientific but I liked their approach and there is some great stuff in this article). They brought in 12 women and men in similar jobs, with similar titles and ­levels of experience, to come clean about their earnings – the results were actually pretty shocking (well, maybe to some people…). Bottom line: of the 12 women and men who were compared, all but one women made less than their male counterparts. Some women had more experience, more advanced degrees and still, they were paid thousands of dollars less then the man.

This has been national topic of discussion for quite some time now, we are all well aware of the pay gap between men, women and minorities – the latest statistics are that women make $0.82 cents to the dollar that men make – for minority women it drops down to $0.66. {WTF!?!?}  Now, I know this number is highly debated, especially among political groups, but let’s put that aside and ignore the exact wage gap number and focus on the fact that the gap DOES exist. Regardless if its 82 cents or 97 cents – it shouldn’t be there at all. Any gap over time, no matter how small, can have serious impacts on a person’s finances over time.

As women, we are up against some external forces that are, to some extent out of our control, but there is plenty we can be doing on an individual basis to advocate for ourselves and get the money we deserve for the work we are doing. It starts with being knowledgeable about the wage gap and the issue at hand. EDUCATE YO SELF! Read this article (and others!) and understand what you’re up again.

Next, know YOUR WORTH. Do your research on the market value for your position. Don’t be afraid to ask other colleagues and friends in the field about their pay. Some people really frown upon this but I think it can give you some of the best information – whether it be the amount their paid or how they negotiated – learn from others. Use sites like Payscale to get a sense of the market value and use this data in negotiations.

Lastly, NEGOTIATE. A study in the Harvard Business Review shows that while women are 11 percent less likely to negotiate than men, when they choose to go for it, half the time they get a better offer! When we don’t ask for what we want or negotiate at all, we continue to perpetuate disproportionate pay rates between ourselves and our male colleagues. We all know that the guys are asking for more, so lets do the same! If you don’t ask, you’ll never know…

Glamour polled 300 women, 71 percent of the women who asked for a raise said they got it! ASK AWAY, but BE PREPARED. Going into a negotiation conversation needs to be thoughtful and well executed. Preparation on your end is essential – know what you want, the amount and why. One of the best pieces of advice I’ve heard so far was to share what have DONE for the organization – highlight what you do and how you have made a positive impact on the organization.

Here are three articles I have shared in the past but are some of the most helpful ones for navigating the negotiation waters.

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This Friday Fuel post won’t change the world and magically make the pay gap disappear – not much of what I am writing goes far beyond our small community of Friday Fuel readers – but as I have said in many posts before; it’s about taking personal responsibility for your own situation and making sure YOU are not one of the woman being sucker punched by bullshit gender barriers. My hope is that you will feel empowered and inspired to take control of your own situation and ask for what you want and deserve.

Have a personal story of negotiating or asking for equity in the workplace? I would LOVE to hear it, send me an E-mail (Cturner@fridayfuel.org) or comment on this blog post!

Chumlee’s weekly glamour shot – this sleepy head was no help to my writing this morning (but I still love him)!

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Embrace the day!

Christina
twitter: @cturner_strong
instagram: @ciaturner

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