Unfortunately it appears pay equity is still a distant dream. European PWN-Paris found in their survey ’Women & Money’ that 75% of professional women are not satisfied with their remuneration, but remain passive on the issue. This means they accept being paid less than they are worth.
Despite 2/3 preparing for year end appraisals (65%), women expected pay rises to coincide with a boss noticing their efforts (44%) and 2/3 didn’t ask for pay raises at all (66%). This is no junior sample either, the average respondent had several degrees, 20 years at a large company in a business function, lived with a partner and had 2 children. Such reticence to discuss money and ask for their worth cripples families as one half (52%) said they out earn their partners. This is in spite of their reported comfort in managing their own finances and asking for equitable pay for others. The majority also perceived that it is easier for men than for women to ask for a pay raise (60%). Women may value friendship but 69% admitted they don’t speak about their salary with friends.
At Female Breadwinners, we encourage companies to standardise pay and conduct internal audits for more equality. Equally women must wake up to the power they have and ask for they want because: ‘No one will ever care about your career more than you do’.
We love this video illustrating what the pay gap means for women.