The gender pay gap currently sits at 15.3 percent. This means that for every dollar a full-time working male makes, a full-time working female makes 84.7 cents. This gap exists because:
- Time taken out of the workforce to have children often impacts women’s career progression
- Women generally take on a bigger share of unpaid caring and domestic work
- Female-dominated industries pay lower wages
Then there’s the issue of valuing worth. Many of us don’t ask for pay rises or contend for promotions because we think that our hard work and diligence will get noticed on its own.
So, how do you ask for a pay rise? Follow Miss Money Box’s Four Step Plan.
Step 1: Prove your worth
Show how you’re doing a great job, bringing in more business, improving processes or innovating. Gather examples of your work, such as emails of praise and instances of times when you went above and beyond. Create a list of any extra work and responsibilities you were asked to take on.
Step 2: Research your salary
Use online salary surveys from recruitment companies to document what other people in roles like yours are being paid. LinkedIn and online job listing sites are also good places to find data on levels of pay. Talk to friends and contacts with similar skills to yours and document if your salary is below the current market value.
Step 3: Delve into company finances
Check your company’s annual report or budget to see how the company is doing financially and whether they can afford to pay you more. If money is tight, negotiate other terms instead like flexible hours or career development training – this has the added benefit of building your experience and adding to your worth as an employee in the job market.
Step 4: Set a deadline
If you don’t get an answer when you put your case to your boss, get a date by which you are going to get an answer. If you get knocked back, don’t take it personally. Instead, write a thank you note reiterating the points you discussed and use this as a platform to reopen the discussion at a later date.