Women Need To Step Up To Shrink the Wage Gap

This week I did something that many women would never dream of: I told my boss that I would like to be considered for a promotion at my next review. I did it casually with just a few comments as to why I felt the new title was now appropriate for me, and to my astonishment his reaction was very positive. He thanked me for bringing it up, said it was "timely" and "perfect."

As a young women in the male dominated banking industry, I have an interesting perspective on the issue of the pervasive "wage gap." I know it exists, but I don't think it's due to discrimination against women. Discrimination is "making a distinction in favor of or against a person or thing based on the group, class, or category to which that person or thing belongs rather than on individual merit."

I don't think employers make any distinction between men and women when it comes to setting compensation. Instead I think employers generally pay all employees as little as they can get away with; it just so happens that women are more likely to be satisfied with less. The very job of a manager after all is to maximize revenue and minimize expenses; they aren't going to run around like the easter bunny doling out bonuses and raises and promotions if they can help it. They do those things when they have to: when an employee brings it up and shows they are aware they could/should be earning more; if they think a promotion or raise might keep a valuable employee from job hunting, etc.

Fabulously Broke, a young female in a different male dominated industry, did a recent post on this and came to a similar conclusion.

So why are women satisfied with less? There are a variety of reasons, which is why this is such a complex and resistant issue. Ignorance of what is fair pay, belief they don't deserve more, and unwillingness to ask for more - especially in response to the offer of a modest pay raise or job offer - all come into play. And even if they aren't satisfied, women are often unwilling or unable to bring up the compensation issue.

In my experience in banking/finance, women and men start out on the same compensation footing coming out of college or grad school. The gap in pay widens over the years because of a few specific reasons I've noticed. Women navigate the workforce differently than men do.

Women Aren't As Comfortable with the Boss
Women tend to accept and adopt the traditional submissive role of boss/subordinate in the workplace, whereas I've noticed that men tend to at least try to become buddies with their managers. If you are close with your boss or at least on good conversational terms, it's a lot easier to initiate discussions such as when your next promotion may be coming down the line. A man might casually mention the idea over drinks after work, for instance, whereas a woman is more likely to set up a formal meeting to nervously discuss a pre-prepared list of reasons she feels she might be ready for a promotion - if she brings it up at all of course.

Women Are Risk Averse
Women don't want to rock the boat. They are more conservative and risk-averse than men (this is proven repeatedly in studies; it's not just a stereotype). So even if you find a women who IS well qualified and DOES believe she deserves more, many of those women are much less likely than a man to even want to ask for a raise or negotiate a job offer. They are worried they'll be judged, perhaps, or they fear they'll be laid off later if they admit they want a promotion or more money now. I've known men on the other hand to candidly and comfortably admit to an employer they have another offer on the table and simply ask "what's the best you can do?"

Women Are More Content to Be Content
Some women simply feel "lucky" or "blessed" to even have a job. Others don't feel that they really work hard enough to justify more pay. Some actually embody more female stereotypes than men do, believing they aren't qualified to move up or handle more responsibility. Women who know they could probably be making more sometimes don't actively try to stand out or climb the ladder because they prefer the flexibly and fewer hours that come with flying under the radar (not insignificantly, many women who think they may be getting married and/or staying home with kids soon often fall here).

On the flip side, more men have more earnings pressure than women do and are therefore the opposite of content. Often they are the primary breadwinner for a family - or plan to be one day - and they are judged by society based on earnings and professional status to a much larger degree than women. Therefore they are highly motivated to work hard, earn more, and move up the ladder as quickly as possible.

kredyt pko szybki kredyt