What’s your Value?

Over the past few months, I’ve spoken to a number of women leaders who tell me their pay package is less than what they’d like. Less than industry average for their role and responsibilities. And we’re not talking small sums here: £50k a year or more.  Many women justify this state of affairs by telling me they’re not so concerned about the money. It’s the job fulfilment; the opportunity to do good work and be recognised or acknowledged for it.

No. Ladies. That merely perpetuates a gross discrepancy in the way you are treated compared to your male colleagues. So what is it, I wonder, that allows this discrepancy to exist?  Indeed to persist.

The gender pay gap is greater now than it was 20 years ago. At our present rate of progress, it will take close to a century to close that gap. And we women are part of that problem. Part, not by any means all…

One of the things that holds women back from being paid their worth is our almost innate inability to really appreciate and own our worth.  And an even greater reluctance to ask for what we’re worth. 

The other part of the problem comes down to an accepted and unspoken practice in hiring. Women tend to be offered a lower pay package than men for the same role. The assumption being that a woman is likely to accept it where a man would not. 

This dynamic plays out whenever a woman leader steps into a new role. Offered a lower salary and benefits; accepting that salary, without challenging it and asking for what she’s worth.

I think as women, we really don’t know what we’re worth. Don’t really appreciate just how big a contribution we make to our work. And men do. I think Sheryl Sandberg clearly states the problem. I paraphrase what she said…

Based on objective performance data, men own their success more than women do, tending to overestimate their performance. Women, on the other hand, tend to underestimate theirs.  So even if a man’s and a woman’s achievements are the same, a man will think of himself as more successful — and attribute that success to his skills. Whereas a woman tends to attribute her success to external sources — luck, the support of others.

Knowing your value, then, means owning your success. Knowing it’s down to you and your skills, abilities and expertise. Acknowledging your achievements and by so doing, gaining in confidence. Knowing and owning what you rightly deserve. Raising your hand. Asking for what you deserve.

Review my masterclass titled Get Paid your Worth. Or book a call. Let’s make sure you are fairly compensated for the great contribution you make.