Asking for a Raise
End of year is quickly approaching and with it the time to discuss compensation. We constantly hear how we as women are earning less than our male peers; in fact, on average, women still earn 80.5 cents for every dollar a man earns, with an even wider gap for women of color. People tend to jump to the conclusion it’s because women aren’t asking for promotions and raises as much as men.
However, a recent study found that women are already asking for raises and promotions more than men, but women who negotiate are often viewed negatively where it is expected from a man. Unfortunately, this means companies need to change their implicit biases and approach to evaluating promotions and raises.
In the meantime, we don’t think you should stop asking for a raise! We’ve gathered some of our favorite resources to help fuel your conversation.
Our Favorite Book
Our favorite book on the subject: Knowing Your Value - Women, Money, and Getting What You’re Worth by Mika Brezeinski
This book is a very quick read! Mika Brezeinski uses her own experience as the example to learn from, layered in with advice from very recognizable names in politics and business.
Our takeaways: schedule a meeting to talk about compensation with your boss before the end of year when budgeting is locked for next year and, of course, come prepared! This means have a list of your achievements and know what your peers/others in the field earn.
“My Salary Story”
Refinery 29 puts out a series called “My Salary Story” sharing various women’s financial trajectories in a wide range of careers and how they negotiated to get there. We love the real life examples!
We know asking for a raise is uncomfortable and the stats are against us, but we hope some of the resources provided can help you have more confidence to do so! Are there any books or articles that have really helped you get to the next stage in your career?
Share them in the comments section below! We’d love to take a look and others will benefit too.
Rebecca & Samantha