National Equal Pay Day raises awareness of the pay discrepancies between men and women for the same work each year. Equal Pay Day was created by the National Committee on Pay Equity (NCPE) in 1996. This year, Equal Pay Day will be recognized on Tuesday, March 14.
Equal Pay Day also symbolizes how far into the year women must work to earn what men earned in the previous year.
In 2022, studies showed that women in the U.S. earned, on average, 82 cents for every dollar earned by men, so a woman must work 15 months to make what a man earns in 12 months. This number varies based on occupation and industry - women in the legal field earn 63 cents, and women in finance and insurance earn 77 cents for every dollar earned by men.
According to an article in Forbes, women lose hundreds of thousands of dollars over a lifetime compared to their white male counterparts. For example, one study showed that white women lost $555,360, and black women lost $964,400...
A lot of people, women in particular, are hesitant to ask for more. Whether it’s a mindset that’s holding you back, fear of rejection, or something else entirely, you have to pursue what you want — and sometimes, that means asserting yourself and asking for what you want!
Even if you work for a company that reevaluates the market rate for positions and adjusts salaries accordingly or you work for yourself and can increase your rates any time, there is still a level of needing to feel confident to advocate for yourself when and if it becomes necessary.
I have a client who works in data analytics, but she wasn’t “trained” to do data analytics (ie: she didn’t go to school for this particular set of skills she has). Instead, she evolved into this role in the company and she’s good at it. However, because of the way she evolved into it, she was significantly underpaid when we started working...
The holidays are full of emotions whether you’re single, married, newly divorced, remarried, or divorced for a while. That isn’t an exhaustive list by any means, so suffice to say that the holidays can bring up complicated emotions. As a matter of fact, it is immediately after this time when divorce filing rates spike.
Should you be contemplating divorce right now, know that you are not alone. Here are a few resources to help you weather the storm so you can thrive after divorce! In this post, I share links across all facets of my specialties from Great Lakes Divorce Financial Solutions and Great Lakes Investment Management. If you’re interested in diving further into their topic, I’d suggest browsing the blogs on those sites as I have a ton more information and I couldn’t link to all of it!
One of the first things I usually hear when I work with couples at Great Lakes Divorce Financial...
Wondering what to do after being a stay-at-home mom? Whether you’re going back to work because you want to or because of a financial obligation, it can be challenging to get back into the workplace environment and the schedule it usually entails. No matter why you’re doing it, you can face your fear of going back to work.
Even if you have to jump back into a career on short notice, the more planning you can do ahead of time, the easier the transition will be. Get your kids on a schedule that’s similar to the one you’ll have when you go back to work.
It’s vital that everyone in the house knows their expectations and has a clear idea of what the routine will be like once you return to work. By preparing your family, you can help reduce some of the stress on that first day back to work.
If you’re using childcare when you go back to work, you may want to start...
Asking for a raise can be uncomfortable for many of us. However, as I teach my children, if you don't ask the question, then the answer is always going to be no. If you want a raise and you feel like you've earned it, you need to ask for it. This is particularly true if you've taken on additional responsibilities but never been compensated for the additional value you're providing to the company.
Related post: Tips to Negotiate a Higher Starting Salary
Why is it essential to have a handle on your company's mission and goals? You’ll want to infuse them throughout your pitch for a higher wage. Show how the work you do aligns with your organization’s goals and mission.
Knowing what the market rate is for your position is helpful when asking for a raise when you're underpaid. It costs companies a lot of money to bring on new...
In life, everything is negotiable and starting salaries in a new position are no exception. Regardless of whether you are returning to the workforce after staying home with your kids or you're trying to uplevel your job, you are a knowledgeable professional. Know your worth. You have experience under your belt and other valuable skills that employers should be charged a premium for utilizing.
Give yourself your worth by negotiating your starting salary within a new company. Not only will it put you on a better financial footing, but it'll also make you seem like an ambitious businessperson.
5 tips to confidently and successfully negotiate a higher starting salary:
Be prepared. Negotiation is all about the legwork. Do your research on the company, their current salary offerings, and the average salary in your locality. If this is your first time negotiating a salary or your first time in a while, it can be daunting. Practice with a friend or family member to give you...