Today is #EqualPayDay. This means that women had to work all of 2023 and through this day in 2024 to catch up to what men earned in 2023 alone.
🔹Women who work full time, year-round make 83 cents for every dollar earned by men.
🔹And when you include employees who only work part of the year or work part-time, women make just 73 cents for every dollar paid to men.
🔹The pay gap is even wider for Black women, Latinas, and Native American women.
It adds up to thousands of dollars in lost income a year - and for some women, over a million dollars over a lifetime.
In my new book #Unspoken it was important to me to have a chapter dedicated to #Negotiations in order to empower women, POC and anyone from margalizrd backgrounds with the tools to negotiate to get their worth.
Here are a few tips on how to have informed negotiations for equal pay:
1. Ask the company to help you understand their compensation philosophy: there should be a clearly defined structure to how they pay employees. Understand what the top of each pay band is.
2. Do your own research: Research your value in the market to best understand the type of compensation you should expect based on role and experience.
3. Understand trade-offs: Financial compensation is not everything, think about non-financial benefits such as vacation time, stock options or transportation benefits.
4. TALK ABOUT SALARY. As shared in the quote below by Janet Crenshaw Smith
from my book #Unspoken, knowledge is power and the more you talk about salary with mentors and peers the more you can advocate for yourself.
So good to see your smiling face. Congratulations on the Key! 😀