Did you know that April 2 was Equal Pay Day? We all know April 15 is when our tax returns are due; however, Equal Pay Day marks the 3 plus additional months that a woman needs to work to earn as much as a man earned the previous year. In other words, she’s working a full year plus three more months just to catch up with what a man earns for doing the same job. You got it!
While this is maddening, frustrating, and certainly nothing new, let’s talk about the toll this takes on you. And more importantly, I want to help each individual realize their full work value, as well as what we can do collectively to move the needle toward pay equity. It has been well-researched that people who make more money have improved health, so think about your own well-being and the health of your relationships.
Whether you’re taking care of your children, your parents or your pets, they are at risk when you’re undervalued and/or not receiving the salary you deserve. When you’re out of balance with money in a relationship, it almost always causes conflict. If you deserve to be making more or getting a promotion that you’re not, think of the impact you could have on your own health and the lives of those you love by advocating for yourself.
Think about your future retirement. If you’re living at a basic level of subsistence without putting money away for retirement, you’ll become dependent on family, the government or charity to provide for life’s basic necessities when you’re no longer able to work. That’s not how anyone wants to live her life, yet you have to know your value to ask for what you’re worth and plan for the future.
Why do so many women get relegated to less-valuable status? First research continues to indicate there is rampant bias based on gender and salary, regardless of the field. Plus, unfortunately, many women are operating out of fear – fear of push back, even fear of rejection. For a lot of women, they are actually in denial about all the ramifications of not getting paid what they’re worth. By denying the risks and overall impact of being undervalued, too many women are afraid to ask for what they want, which is a powerless position.
In order to take back the power, you need to do your homework and research the numbers. By comparing, studying and researching standard salaries for positions in your particular field in your part of the country, you will know your value in your industry, your company, your particular line of work.
To put it all in perspective of where we are today, women generally make 80 cents on each dollar that every man makes. It has been predicted that it will take 100 years for women to close that gap. We’re not going to live that long, but our daughters and granddaughters will. As I see it, this is not only important for you, your well-being and your future, we have to keep taking steps forward as part of the legacy we want to leave behind.
If you are not getting paid what you are worth and need guidance to get there, let me coach you to that result. Call Kay at 513-561-4288 or email firstname.lastname@example.org.