There is a gender gap at most companies where the biggest paychecks go to men. Equal pay for women isn’t happening because men hold a vast majority of the jobs with direct responsibility for corporate profits. This, according to a study by a nonprofit group promoting the role of women in business including equal pay for equal work.
The Catalyst Survey shows women are gaining a bigger share of high-level corporate jobs. But when it comes to the big position of chief executive officer, corporate boards want their CEO candidates to be experienced in profit and loss. Yet an increasing number of women job candidates who I’ve counseled, held accounting jobs. One of them, an accounting major in college, told me that women made up half of her classes
So corporate boards need to awaken to the fact that an increasing number of women in the workforce are experienced in profit and loss. Yet among Fortune 500 Companies, only 4.6 percent of corporate CEO’s are women. The gap at the top is vast. And so is the gap between high-achieving women who are paid less than men even when they have similar levels of experience and are in the same fields. A Bloomberg survey taken last year shows women who graduated from business schools reported an average of $14,548 less in expected annual pay than men who graduated with MBAs.
Another Bloomberg analysis— this one of the highest paid executives at S&P 500 companies—found another reason there is no equal pay for women—a lack of salary negotiating skills. While men probably negotiate better than women, both sexes fear to negotiate for salary and ask for raises.
One of the ways unequal pay for women can be corrected is when women job candidates at any level learn how to negotiate. You can take a course or read a good boock on the subject. Then after you land, find out what they guy sitting next to you makes. If it’s more, request a salary boost.
You can also consider starting your own business. When it comes to self-employment, women have it all over men. While the movement of women into top slots in major corporations is slow, just look at what you’ve accomplished in the entrepreneurial business world. Women own about 40 percent of entrepreneurial businesses.
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