Women & Money
2016 was a big year for Women. We made strides in the political space as well as in our own lives. Despite President Bigly's win with rhetorics throughout the campaign and currently and the "Alt-right" folks, they have motivated women and the People to really speak up.
In October, we conducted a survey about women's salaries and their comfort level when speaking about personal income. We know this is such a sensitive issue for most women, but why? What is it about money makes us feel uneasy and uncomfortable? I know it's only a small sample we collected, but our survey indicated, “About 37% felt comfortable sharing their salary while about 62% said it depends who they are.”
Overall, these uncomfortable conversations are great to have. Not only that, but it encourages us to speak on each others behalf or push one another to get that salary.
While some of our questions were pretty forward in sharing your income, and collecting data, one of our most honest questions were: did you ask for the raise. The results were shocking. Most of us didn't didn't ask for a raise even when we knew we deserve more based on our day-to-day duties. According to our survey, “Over 69 % never asked for a raise or promotion. Over 33% did once. Only 1 person did twice and no one did more than that.”
As we gloss over the results, we go back and forth with the question: what can we do? And honestly, we are lost ourselves.
Is there a more rooted issue than just the obvious pay gap? We left room for open-ended comments, and here they were rolling in. Friends, we aren't fabricating these comments:
In a previous role I asked for a raise several times but was told due to budget it could not be done. I was being severely under paid so felt extremely devalued.
The promotion I received was from a contract extension. After a few months working with the contract extension, I realized that the work I was doing didn't fit the title and also the compensation - so I asked for a raise and a change in professional title. After a week of gathering some information and a 5 minute conversation with my manager stating that the job description explained everything in detail and that I had accepted the offer that was given. So no raise or change in title was given. It's a little frustrating because the work load is definitely more than I had expected for the compensation that I was given. It makes me feel a litter undervalued.
Didn't have the ability to negotiate my raise, not happy about that. I tried to negotiate for more PTO when I was hired, but they said no.
I never want people to think I'm greedy. Although my employer and I have a great relationship, it's always awkward for me to ask for a raise. I think about it for months before asking. I usually have a bulleted list in my mine justifying why I am deserving of the merit increase-- you know, just in case she challenges me. She never does and usually gives me a higher percentage increase than expected. I know this is a rarity and not all employers are like this. I'm trying to be better at advocating for myself. It helps when I remind myself that this is business and it's nothing personal.
The Cnnekt will be hosting a workshop catered to women and money. If this may be helpful to you, stay tuned and join the solve..
Chary & Em