The Equal Pay Act was passed 55 years ago, yet women in the U.S. still only earn an average of 80 cents on the dollar as compared to men. Forty-two states, plus Puerto Rico and Washington, D.C., have proposed legislation to finally close the gender pay gap. But that might be too little, too late.
In fact, according to a recent survey by global talent recruitment firm Randstad US, nearly 50% of women say they would leave their job if they learned that a male peer was earning “significantly” more. Of course, there are other ways to deal with wage inequality beyond simply walking away.
Cindy Keaveney, chief people officer at Randstad Sourceright, has some savvy advice on strategies that women can use to boost their pay. First, she reminds women to know their value in terms of salary averages for position and location, as well as to be confident going into negotiation. It’s been estimated that up to 93% of women accept a new employer’s first offer.
When it comes to asking for a raise, it’s timing that makes the difference. Women are encouraged to act now, as today’s low unemployment rates provide a firm foundation for deliberation. Additional tips include focusing on the value you bring to the business as your rationale for a wage increase, and preparing for a “no” answer.
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