Marci Alboher’s Shifting Careers New York Times blog post last week cited the same Penelope Trunk blog post mentioned here regarding transparency with regard to compensation. Marci wrote:

A few months ago, I went to hear Gloria Steinem speak. She said many memorable things, including this: If women were more willing to reveal their salaries to one another, they would make strides in eliminating the gender gap in wages.

She then asked for readers who are in situations where their salaries are either “published” or reasonably transparent to comment. As you can imagine, a lively discussion ensued. Themes I noted:

• people who work in environments where compensation information is available are fine with it — it doesn’t seem to bother them except when they feel that coworkers are taking advantage of the protection they have as a result of being unionized or government workers
• many believe that secrecy benefits the company (whose managers may be making subjective decisions free from scrutiny) and those who are highly paid, disadvantaging others including women
• lots of people just don’t want to know — the idea that a coworker who produces less is being paid more cause all kinds of problems for them.

Yet, knowledge is power. Research shows that women who have solid data can more effectively negotiate for themselves. While you may not be comfortable asking your colleagues how much money they make, do your homework. Some sites to check:

• www.payscale.com
• www.salary.com
• www.glassdoor.com

Also, consider other ways to scout for information. Check, for example, to see if there is a salary survey published for your industry. Also take a look at job message boards (Vault is one of my favorites). Join an industry association where you’ll be able to meet other people who do the same sort of work that you do. You don’t have to ask them straight out how much money they make; instead, position your inquiry as a more general question, for example, “What information can you share with me about the salary range for my position at your company?”

One of the readers commented that in Norway there is complete transparency with regard to earnings - evidently there is a database where income (and the amount of tax paid!) is available. Hmmm, maybe we have to move there to close the gender gap in pay?

TAGS: Equal pay, Marci Alboher, negotiating pay, Pay Disparity, Penelope Trunk

With all the talk of economic instability, it may seem untoward to be thinking about how to ask for a raise but if you have demonstrated the value you bring to your company, it very well may be feasible.  In fact, smart companies are more likely to want to keep their top talent satisfied in challenging times.

The May/June issue of Pink Magazine (cited here before) included 2007 survey results which indicated that 51% of women had asked for a raise, perk or promotion (down from 54% in 2006).  And it paid to ask - of those who did, 79% heard “yes”.

When you get ready to broach the subject, start by benchmarking what you should be paid.  Penelope Trunk (The Brazen Careerist) mentioned a few online sources she recommends in a recent post. This step is critical for women who get much better outcomes when they negotiate for themselves armed with good information. 

TAGS: Economy, income, income disparity, negotiating pay, Negotiation, negotiation skills, Penelope Trunk, recession, strategies for success, Women and Money, women's equality